SEBI Approves Key Decisions

The Securities and Exchange Board of India (SEBI) approved several key reforms in its board meeting held on Friday. SEBI Chairman Tuhin Kanta Pandey announced that the open market buyback mechanism, earlier suspended, will be reinstated from August 1 with revised rules. The board also approved easing intraday borrowing norms for mutual funds and simplifying the process of transferring securities in case of an investor’s death.

Under the new buyback framework, companies must complete the process within 66 working days, with at least 40% of allocated funds to be utilized in the first half of the period. SEBI has also introduced reforms for mutual funds, alternative investment funds, and investor succession processes. It has simplified documentation, increased limits for claim settlements, and removed several procedural requirements, making the system more investor-friendly and efficient.