India’s Union Finance Minister Nirmala Sitharaman presented the interim Union Budget on Thursday. With elections around the corner, an interim budget is presented to keep essential government operations funded until the newly elected government presents its full budget.
The queue for mutual fund (MF) licences has thinned down due to quick clearances by the Securities and Exchange Board of India (Sebi) alongside applications being withdrawn amid regulatory changes.
There were, at the end of September, only two pending MF applications: By AngelOne and Unifi Capital. By comparison, there were 11 applications lying before the market regulator at the start of calendar year 2023.
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