Queue for MF licences thins amid quick Sebi approval, withdrawals

At the end of September, the regulator had only 2 pending applications

The queue for mutual fund (MF) licences has thinned down due to quick clearances by the Securities and Exchange Board of India (Sebi) alongside applications being withdrawn amid regulatory changes.

There were, at the end of September, only two pending MF applications: By AngelOne and Unifi Capital. By comparison, there were 11 applications lying before the market regulator at the start of calendar year 2023.

Since March 2023, Sebi has given final approvals to four asset management companies (AMCs), namely Bajaj Finserv, Old Bridge Capital Management, Helios Capital and Zerodha. The companies had already obtained in-principle approvals before the year