RBI approval not required for distribution of Mutual Fund products by NBFCs

RBI vide its notification DNRB. (PD).CC.No. 033/03.10.001/2014-15 dt. 30th Apr-15, has dispensed with the requirement of its prior approval for distribution of Mutual Fund products by NBFCs. It also dispensed with the requirement of minimum eligibility criteria set out in Dec-2006. RBI has also modified the guidelines related to distribution of Mutual Fund products accordingly.…