The Securities and Exchange Board of India (SEBI) has issued a circular extending the deadline for mutual funds to submit offsite inspection data. Previously, mutual funds were required to submit daily data in a monthly file, formatted quarterly, within 10 calendar days of the quarter’s end. Following industry feedback aiming to ease business operations, SEBI has modified Clause 5.27.2 of the Master Circular for Mutual Funds, dated June 27, 2024. The new directive allows mutual funds 15 calendar days from the end of each quarter to submit this data. Registrars to an Issue and Share Transfer Agents (RTAs) are still required to submit the data on an ongoing basis. This change, effective immediately, is issued under SEBI’s regulatory authority to protect investor interests and regulate the securities market. The full circular is available on the SEBI website.
Securities and Exchange Board of India
Circular No. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2025/38 Dated: March 28, 2025
To All,
Mutual Funds (MFs)/
Asset Management Companies (AMCs)/
Trustee Companies/ Board of Trustees of Mutual Funds/
Association of Mutual Funds in India (AMFI)/
Registrars to an Issue and Share Transfer Agent (RTAs)
Madam/ Sir,
Sub: Extension of timelines for submission of offsite inspection data
1. Clause 5.27.2 of the Master Circular for Mutual Funds dated June 27, 2024 inter alia specifies that, for offsite inspection, Mutual Funds shall submit the daily data in a monthly file as per the specified format on a quarterly basis within 10 calendar days from the end of the quarter.
2. Based on the feedback received from the industry and to facilitate ease of doing business, it has been decided to extend the timelines for submission of offsite inspection data. Accordingly, Clause 5.27.2 of Master Circular for Mutual Funds dated June 27, 2024 stands modified as under:
“Mutual Funds shall submit the daily data in monthly file as per the specified formats on quarterly basis within 15 calendar days from end of the quarter. RTAs shall submit the said data on an ongoing basis.”
3. The provisions of this circular shall come into force with immediate effect.
4. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 58(1) and 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market.
5. This circular is available at www.sebi.gov.in under the link “Legal →Circulars”.
Yours faithfully,
Peter Mardi
Deputy General Manager
+91-22-26449233
peterm@sebi.gov.in
