Issue of banning entry load on MF raised in RS

The issue of ban on entry load of any kind of mutual fund schemes was today raised in the Rajya Sabha and a demand was made to reintroduce it to help lakhs of mutual fund distributors affected by the action.     
Raising the issue during Zero Hour, Anil Desai (Shiv Sena) said the government's ban on levy of entry load on mutual fund schemes had affected lakhs of mutual fund distributors, who were earning their livelihood through it.     

Desai said an entry load of 2.25 per cent was levied on mutual funds and this was the income of lakhs of distributors. He said that since SEBI felt that the investors were being taken for a ride through it, it should be removed altogether.     

He said the ban has led to problems in the mutual fund industry and investors have instead taken to investment in gold, which in turn is leading to the increased current account deficit.     

"I urge the Government to re-introduce the entry load. It will help lakhs of distributors of mutual fund to earn their livelihood," he said.     

Bharatkumar Raut (Shiv Sena) raised the issue of meting out "step motherly" treatment to regional languages in the UPSC examinations in the new changes introduced recently.     

He said Shiv Sena has launched an agitation in Maharashtra and urged all other regional parties to do so.     

Terming the issue as serious, Tarun Vijay (BJP) demanded a statement from the government on the issue.