1. SEBI vide circular dated March 23, 2020 had temporarily relaxed certain compliance requirements and extended the timelines for compliance.
2. Further, based on the representations received from AMFI, it has been decided to grant the following relaxations specified in SEBI (Mutual Funds) Regulations, 1996 and circulars issued thereunder:
a) The effective date of implementation of certain policy initiatives have been extended as under:
| Sr. No. | Circular Name | Particulars | Particulars |
| 1 | Risk management framework for liquid and overnight funds and norms governing investment in short term deposits dated September 20, 2019 | Liquid funds shall hold at least 20% of its net assets in liquid assets | June 30, 2020 |
| 2 | Review of investment norms for mutual funds for investment in Debt and Money Market Instruments dated October 1, 2019 | Existing open-ended mutual fund schemes shall comply with the revised limits for sector exposure | June 30, 2020 |
| 3 | Valuation of money market and debt securities dated September 24, 2019 | Amortization based valuation shall be dispensed with and irrespective of residual maturity, all money market and debt securities shall be valued in terms of paragraph 1.1.2.2 of the Circular | June 30, 2020 |
b) The timelines for submission of cyber security audit reports as mandated in SEBI circular dated January 10, 2019 is extended by two months i.e. till August 31, 2020.
c) The timelines for filing scheme annual reports for the year 2019-20 is extended by one month i.e. till August 31, 2020.
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