The Securities Exchange Board of India vide circular dated December 21, 2021 has issued clarification regarding Portfolio Management Services for Accredited Investors. It has been decided that in case of large value accredited
investors, the quantum and manner of exit load applicable to the client of the Portfolio Manager shall be governed through bilaterally negotiated contractual terms.
This update follows a series of circulars issued between July and September 2025, aimed at ensuring that all investor-facing digital platforms across India’s securities market
These changes aimed at simplifying compliance and enhancing operational flexibility for AIFs.
This step reflects the central bank’s continued use of foreign exchange swap tools to manage durable liquidity and support stability in the money markets.
For market participants, these changes represent an opportunity to engage with a more streamlined, transparent, and globally aligned interest rate derivatives market.
