SEBI's amendments to its mutual fund regulations have been notified in the Gazette of India on August 30. The Government had in June released guidelines for infrastructure debt funds that can be set up by mutual funds and NBFCs. While SEBI will monitor the schemes launched by mutual funds, NBFCs launching such schemes will be regulated by the RBI.
The notification by SEBI defines an infrastructure debt fund scheme as a mutual fund scheme that invests primarily (minimum 90 percent of scheme assets) in the debt securities or securitized debt instruments of infrastructure companies or infrastructure capital companies or infrastructure projects or special purpose vehicles which are created for the purpose of facilitating or promoting investment in infrastructure, and other permissible assets in accordance with these regulations or bank loans in respect of completed and revenue generating projects of infrastructure companies or projects or special purpose vehicles.
An existing mutual fund may launch an infrastructure debt fund scheme if it has an adequate number of key personnel having adequate experience in infrastructure sector.
Source: http://www.thehindubusinessline.com/markets/stock-markets/article2430206.ece
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