The Securities Capital Market Regulator and Exchange Board of India (SEBI) have banned the launch of the Mutual Fund Scheme up to July 1.

In a letter to the Industrial Body Association of Indian Mutual Fund (AMFI) at the end of last night, Sebi hated the new Mutual Fund scheme until the use of a pond account was stopped.

Watchdog Market has requested a Mutual Fund House to ensure that no distributors, online platforms, stocks or investment advisors collect investor money in bank accounts and then transfer them to houses to buy investor units for investors. This is to ensure that the money is not misused. The regulator asks the Mutual Fund industry to implement this starting April 1, 2022.

AMFI has appealed to the end of last month for delaying deadlines because the broking industry and distribution are still in the midst of applying alternative mechanisms.

While SBI provides assistance to the MF industry until July 1, it also explained in his letter to Amfi that it had given a “sufficient time” for mutual funds to apply the October 2021 order in the pool account, and “wide consultation was held. With all stakeholders, Incause Amfi, before issuing circular on October 202 “.

Sebi said making a decision for the best interest of Unitholders. The regulator also reminded AMFI on the previous appointment that all new schemes could be postponed until the problem was resolved.