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SEBI Imposes Rs 10L Penalty Each For SBI, LIC and BOB Over Mutual Funds
Securities and Exchange Board of India (SEBI) has fined SBI, LIC and Bank of Baroda for holding more than 10 percent share in UTI mutual funds and having majority stake in fund houses, promoted by them. They will have to pay a fine of Rs 10 lakh each. These entities hold over 18 percent in each fund houses, violating the amendments of holding norms of 2018.
Tags: SEBI, MUTUAL FUNDS, SBI, LIC, BANK OF BARODA
Courtesy: The Times of India
