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SEBI in talks with industry on mutual funds norms

Reuters  |  MUMBAI 

(Reuters) - India's market regulator is in talks with industry to deal with fears of contagion effect on mutual funds due to a liquidity crisis faced by the country's companies (NBFC), its chief said on Friday.

The crunch hit India's shadow banks in September and October after (IL&FS) defaulted on a series of debt obligations spreading panic among other NBFCs.

(SEBI) has been scanning India's mutual funds' investments in the since then.

"We are examining, in consultation with the industry, and will gradually take appropriate action," Ajay Tyagi, of SEBI said in response to a question if changes are needed in mutual fund regulations.

(Reporting by Abhirup Roy; Writing by Nidhi Verma; Editing by Sanjeev Miglani)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 07 2018. 11:58 IST