SEBI issues settlement order to Utkarsh Small Finance Bank
The Securities and Exchange Board of India (SEBI) has issued a settlement order to Utkarsh Small Finance Bank upon the payment of Rs 1.24 crore by the lender.
Markets regulator Sebi on Friday relaxed the timelines for disposal of physical gold and silver assets held by mutual funds for settlement purposes for investments made through exchange traded commodity derivatives.
Underlining that mutual fund schemes cannot invest in physical goods except in gold through gold ETFs, Sebi modified its nearly a year-old directives on disposal timeline for physical goods held by the mutual fund schemes towards physical settlement of exchange traded commodity derivative contracts, in which they might have invested.
In a circular, the Securities and Exchange Board of India (Sebi) said that disposal time is now 180 days for physical gold and silver assets.
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For other goods, it has to be done by the immediate next expiry day of the contract.
However, if the final expiry date of the goods falls before the immediate next expiry day of the same contract series of the said commodity, then it has to be done within 30 days from the date of holding of physical goods, the regulator added.
Earlier this time was 30 days for all goods.
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