Sebi sets July 31 as cut-off time for SRO applications

The market regulator in its board meeting that also decided new buyback norms made it clear that it would not like to delay it anymore

One day after announcing single self regulatory organisation (SRO) for distributors, the Securities and Exchange Board of India (Sebi) has set a cut off time 31 July for accepting applications from interested entities.

Yesterday, in its board meeting the regulator had made it clear that it would not like to delay it anymore.

Such a swift action and limited time for filing applications remind about the narrow time Sebi had provided under C B Bhave's tenure back in 2009 regarding abolishing entry load in equity schemes, which got effective fron 1 August that year.