India's Sebi proposes new rules for AMCs to invest NFO funds within 30-60 business days or face restrictions.

India's Securities and Exchange Board (Sebi) has proposed new rules for asset management companies (AMCs) to ensure quicker deployment of funds from new fund offers (NFOs). AMCs must invest these funds within 30 business days, with a possible 30-day extension. Failure to comply will restrict AMCs from launching new schemes and charging exit fees. The public can provide feedback on the proposal until November 20. These changes aim to enhance transparency in India's mutual fund sector.