GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who regulates the Mutual Funds in India?
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RBI
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FRBI
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SEBI
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SIDBI
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Explanation:
Detailed explanation-1: -As far as mutual funds are concerned, SEBI formulates policies, regulates and supervises mutual funds to protect the interest of the investors.
Detailed explanation-2: -SEBI is an umbrella governing body that has rules and regulations with respect to various securities in the stock markets. AMFI on the other hand is specific to the mutual fund industry.
Detailed explanation-3: -RBI acts as a regulator of Sponsors of bank-sponsored mutual funds, especially in the case of funds offering guaranteed returns. In order to provide a guaranteed returns scheme, a mutual fund needs to take approval from RBI.
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