Financial Daily
from THE HINDU group of publications
Wednesday, March 08, 2000
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Financial Daily from THE HINDU group of publications Wednesday, March 08, 2000 |
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RBI withdraws MMMF norms
Our Bureau
MUMBAI, March 7
THE RBI today withdrew its guidelines on money market mutual fund (MMMF) schemes. The regulation of MMMFs will now come under the SEBI (Mutual Fund) Regulations, a RBI press release said.
``Banks and financial institutions which are desirous of setting up MMMFs would, however, have to seek necessary clearance from the Reserve Bank for undertaking this additional activity before approaching the SEBI for registration,'' the release stated.
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