BANKING AFFAIRS

Detailed explanation-1: -The limit of Rs 50, 000 would be an umbrella limit for investment by an investor through e-wallet and/or cash, per mutual fund, Sebi said in a release. For providing such facility AMCs would not be allowed to borrow.

Detailed explanation-2: -Detailed Solution. The upper limit to buy mutual funds through digital wallets by SEBI is Rs 50, 000 for investors. Securities and Exchange Board of India (SEBI) was established in 1988 and given statuary power in 1992. Its aim is to regulate the securities market in India.

Detailed explanation-3: -SEBI issued new rules for the liquidation of mutual fund schemes in January 2022. Mutual fund trustees will be required by the new rules to obtain unitholder consent when the majority of trustees decide to close a scheme or prematurely redeem the units of a closed-ended scheme.

Detailed explanation-4: -1.7 Investment Limit: Investment through PPI would be restricted for purchase up to INR 50, 000 per Mutual Fund Scheme per annum.

Detailed explanation-5: -Notes: Mutual funds in India are permitted to invest in Securities, Gold and Real Estate. A mutual fund is prohibited from investing in any unlisted security or a security issued through private placement by an associate or a group company of the sponsor.