SEBI directs MFs to discontinue bundling SIPs with insurance cover
SEBI has directed mutual funds (MFs) to stop providing insurance cover as an attraction for wooing systematic investment plan (SIP). Read more
The mutual fund (MF) sector has again indicated that compared to the insurance sector, it is being treated in a step-motherly manner. This time, it is a Budget proposal that has irked officials in the sector. The proposal said a customer could buy an insurance policy if he/she had a bank KYC (know-your-customer). It didn’t include MFs. Read more