The Securities and Exchange Board of India has extended the implementation timeline for the mutual fund industry’s additional incentive structure for distributors who onboard new individual investors from B-30 cities and new women individual investors. The framework will now take effect from 1 March 2026, instead of 1 February 2026. The incentive framework, set out in a 27 November 2025 circular, applies at the mutual fund industry level and targets inflows from (i) new individual investors (new Permanent Account Number) from B-30 cities and (ii) new women individual investors (new Permanent Account Number) from both T-30 and B-30 cities. The extension follows industry feedback citing operational difficulties in putting in place the required systems and processes. All other provisions of the 27 November 2025 circular remain unchanged.
Securities and Exchange Board of India delays mutual fund distributor incentive framework for B-30 and women investor onboarding to 1 March 2026
The Securities and Exchange Board of India has postponed the implementation of the mutual fund industry's additional incentive structure for distributors targeting new individual investors from B-30 cities and new women investors to 1 March 2026, due to operational challenges. All other provisions of the 27 November 2025 circular remain unchanged.