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 & Exchange Board of India 2026-01-07
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.