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The Securities and Exchange Board of India (Sebi) has cautioned the mutual fund (MF) sector on a spillover of bad loans from the banking system to debt funds.
“You need to be more watchful. You have to make sure non-performing assets don’t get shifted to MF portfolios by way of transfer of debt,” Ajay Tyagi, chairman of Sebi, said on Thursday. He was speaking at the Association of Mutual Funds in India’s ((AMFI’s) first summit of top executives of the Rs 19-lakh crore asset management sector.
The Sebi chief urged funds to improve their due-diligence. “There have been instances of
