FMPs

India’s markets regulator on Friday banned Kotak Mahindra Asset Management Co. Ltd from launching new fixed maturity plans (FMPs) for six months and imposed a ₹50 lakh fine for violating mutual fund regulations.The Securities and Exchange…

MUMBAI: A default by some of the Essel Group companies is still affecting mutual funds more than two years later. Markets regulator Sebi on Friday penalised Kotak Mutual Fund for its delay in making full payment to some of its investors in…