SEBI allows instant access facility in overnight schemes of mutual funds

The Securities and Exchange Board of India (SEBI) announced on July 30 that instant access facility would now be permitted in overnight schemes along with liquid schemes of mutual funds. The change has been brought into effect by the market regulator by partially modifying its circular related to instant access facility issued in May, 2017.

"MFs (All Mutual Funds)/ AMCs (Asset Management Companies) can offer Instant Access Facility (IAF) only in Overnight and Liquid Schemes of the MF," the fresh circular issued by SEBI stated.