The Securities and Exchange Board of India (SEBI) on January 07, 2026, issued extension of timeline for implementation of additional incentives structure for distributors for onboarding new individual investors from B-30 cities and women investors.
SEBI, vide Circular No. HO/(83)2025-IMD-POD-1/I/152/2025 dated November 27, 2025, prescribed a framework (to come into effect from February 01, 2026) for incentivizing distributors for mobilizing investment/inflows from the following categories of investors at the mutual fund industry level:
• New individual investors (new PAN) from B-30 cities;
• New women individual investors (new PAN) from both T-30 and B-30 cities.
Based on the feedback received from the industry, citing operational difficulties in putting place the requisite systems and processes for smooth implementation of the additional incentive structure, it has been decided to extend the implementation timeline. Accordingly, the provisions of the aforesaid circular shall now come into effect from March 01, 2026.
All other provisions of SEBI Circular dated November 27, 2025 shall remain unchanged.
[Circular No. HO/(83)2025-IMD-POD-1/I/2027/2026]
