The Securities and Exchange Board of India (SEBI) has allowed mutual funds investments through digital wallets. However, it has a cap of Rs 50,000 per mutual fund per financial year. The regulatory approval was given to channelise household savings into capital markets and promote digital payments in the economy. SEBI added the digital wallet players will not be allowed to offer any incentive such including cash backs directly or indirectly for investing in mutual fund scheme through them. It further added that wallets balance loaded through cash, debit card or net banking, can only be used for subscribing to mutual funds and that balances through credit card, cash back, promotional schemes should not be allowed. However, redemptions from such investments have to be into the bank account of the investor. Note that SEBI has not clarified whether these wallets need to have full bank…
- PrivacyNama Session: Government Access to Data; October 7 October 3, 2022
- PrivacyNama Session: Privacy, Children and Access to Services; October 6 October 3, 2022
- Summary: ONDC seeks feedback on trust-building measures in latest consultation paper October 3, 2022
- RBI has the powers to regulate payment aggregators: Delhi High Court October 3, 2022
- “Security Concerns” Prevented Meta from Releasing Full Report on Impact of Hate Speech on India October 3, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...