SEBI asks MFs to take action against errant distributors

The Securities and Exchange Board of India (Sebi) has directed mutual fund (MF) houses to take action against distributors who circumvent norms to get the same day’s net asset value (NAV) in debt schemes by splitting their purchases to ensure the Rs 1-crore limit is not crossed
http://www.business-standard.com/india/news/manipulatorsdebtnav-norm-face-sebi-ire/470144/

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