SEBI vide Circular no. SEBI/HO/IMD/ DF4/CIR/P/2019/093 dated August 16th, 2019 it is clarified that Trustees/Asset Management Companies (AMCs)shall ensure that no funds of a scheme is parked in Short Term deposit (STD) of a bank which has invested in that scheme. Trustees/AMCsshall also ensure that the bank in which a scheme has STD do not invest in the said scheme until the scheme has STDwith such Bank.
