Bajaj Finserv gets Sebi nod to launch mutual fund business

Bajaj Finserv said it has received an in-principle approval from the Securities and Exchange Board of India (SEBI) for sponsoring a mutual fund. The Company has received an In-Principle approval from Securities and Exchange Board of India (SEBI) vide their letter dated 23 August 2021, for sponsoring a Mutual Fund.

Accordingly, the company would be setting up an Asset Management Company and the Trustee Company, directly or indirectly i.e., itself or through its subsidiary in accordance with applicable SEBI Regulations and other applicable laws," said the communication from Bajaj Finserv.

Bajaj Finserv Limited is a part of Bajaj Holdings & Investments Limited which focusses on lending, asset management, wealth management and insurance.


Earlier in August, online discount broker Samco Securities received capital markets regulator Sebi's approval to launch its mutual fund business. All this comes after the Securities and Exchange Board of India (SEBI) allowed Fintechs to apply for mutual fund (MF) licenses, last year in December.