The Securities and Exchange Board of India, SEBI will remove the entry load on mutual funds from 1 August 2009.
SEBI's ruling will be applicable to:
* All investments in the mutual fund schemes -- including additional purchases or switch from one scheme to the other -- with effect from August 1, 2009
* New schemes launched from or after August 1, 2009
* Systematic investment plan (SIP) registered on or after August 1, 2009
More: Rediff.com
