SEBI 215th board meeting
A new portfolio manager route built on mutual funds
PRIM lets portfolio managers run strategies using direct plans of mutual funds, ETFs and SIFs. Minimum ticket ₹25 lakh, fee capped at 1% of AUM.
Headlines are comparing this market to March 2020. The numbers say otherwise. This week's issue explains what is actually driving the slide, what SEBI and IRDAI changed, and the dates that matter in October.
Closing levels as of Friday, 25 September 2026
“In March 2020, markets fell 38% in four weeks. Today, Nifty has given up 4.6% across nearly two months. Those are not the same event.”
Foreign investors are moving money towards US Treasuries now yielding over 5%, and crude above $100 is stretching India's import bill. That explains the steady drift lower.
What has changed since earlier cycles is the domestic investor. Domestic institutions put more than ₹11,200 crore to work this week alone, backed by ₹32,297 crore of SIP money every month. That flow is why a potential sharp fall has so far been a gradual consolidation.
Ten developments from the week, explained for investors. Four of them:
PRIM lets portfolio managers run strategies using direct plans of mutual funds, ETFs and SIFs. Minimum ticket ₹25 lakh, fee capped at 1% of AUM.
Product-wise commission caps, a three-tier distribution model and a ban on volume-linked incentives for bank and NBFC staff. Comments open till 25 October.
A day-by-day read of the week's foreign and domestic flows, and why Friday's late recovery matters.
Prior approval is largely replaced by post-issue compliance reporting within three working days.
Also inside: REIT and InvIT depository receipts via GIFT City, the NISM V-D deadline for SIF distributors, the Public Insurance Registry, SEBI's net settlement proposal and the 30 September ITR deadline for firms and LLPs.
General investor education from this week's issue, not a recommendation for any individual.
A falling NAV means each instalment buys more units. Pausing a SIP when the index is 4.6% lower gives up exactly that.
With US yields above 5% and domestic debt offering steady accrual, a mix of equity, debt and gold does more than trying to time the bottom.
Moving surplus money into equity funds in instalments over 6 to 12 months removes the pressure of picking an entry day.
Regulatory and policy deadlines over the next four weeks
Weekly Reading is a free market briefing from Rajat Capital. One issue a week, sent on WhatsApp.