Securities and Exchange Board of India (SEBI) was established in 1992 to regulate and develop the growth of the capital market. SEBI regulates the working of stock exchanges and intermediaries such as stock brokers and merchant bankers, accords approval for mutual funds, and registers Foreign Institutional Investors who wish to trade in Indian scrips. Since 1999, UTI has voluntarily agreed to abide by the SEBI regulations regarding mutual funds for all its schemes/plans except US-64.
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