Bajaj Finserv gets SEBI approval for mutual fund business
Bajaj Finserv is the most diversified NBFCs in the Indian market. It holds stakes in Bajaj Allianz Life (sixth-largest private insurer (BALIC), Bajaj Allianz General Insurance (BAGIC) (second-largest general insurer), Bajaj Finance (BFL), and Bajaj Financial Solutions.
Today, the company has announced to receive in-principle approval from the Securities and Exchange Board of India (Sebi) for sponsoring a mutual fund.
On the given initiative, Bajaj Finserv said, “the Company would be setting up an Asset Management Company and the Trustee Company, directly or indirectly i.e., itself or through its subsidiary, in accordance with applicable Sebi Regulations and other applicable laws.”
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