Erasing Existing Market Anagrams

Since the concluding months of the previous year, markets have been experiencing severe patches of crest and trough, which left investors in a lurch. Needless to say, the market regulator, Securities and Exchange Board of India (Sebi), finally had to step in to address the issue. Right from reworking on debt fund categorisation to restructuring norms governing liquid fund as well as holding credit rating agencies accountable, Sebi is on a spree.  After the IL&FS debacle, the market regulator took a slew of regulatory steps, which impacted the debt mutual funds segment substantially. To ensure a more level-playing-field pertaining to valuation of a mutual fund’s investment, Sebi on September 24, 2019, made it clear that any extension in the maturity of the same should be treated  as “default”.   Also, if the maturity date of a money market or...