Monday, February 11, 2008

Why only Mutual fund is targeted by SEBI?

It is becoming a menace to apply for KYC all over again after all the drama over MAPIN., UIN, etc. Isn't Pan Card enough?.
And my question, why is the Mutual Fund industry targeted only?. You dont need a Pan card for Insurance, even for a Ulip!, they why only Mutual Funds. And now, not just Pan card, but also you have to get a KYC done....!. Ha, it clearly shows that Damodaran of SEBI is baised towards Insurance and dead against Mutual Funds. The Insurance Lobby is strong and our Mutual Fund Lobby is eating nuts instead of fighting against this discrimination by SEBI.
See the SEBI has made KYC compulsory for investments above 50000 and also removed the Entry Load for Direct Investments. Now My question is, why not the same treatment for Insurance., Why not have a KYC for Insurance investments and why not remove the premium for Insurance for Direct Investments. I mean why not give the 25% commission the Insurance agent is given to the Ulip investor. Why are after the pittance of 2.25% commission given to the Mutual Fund Investor. Mr.Damodaran., are you listening?

I think no., he is busy listening to the Insurance Lobby on how to make life more miserable to the Mutual Fund Industry.

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