SEBI announces major reforms at its 213th board meeting held in Mumbai
In March 2026, the Securities and Exchange Board of India (SEBI), approved a wide-ranging set of regulatory changes covering market intermediaries, foreign investors, alternative investment funds (AIF), and governance norms at its 213th board meeting held in Mumbai, Maharashtra.
Social Impact Funds (SIF)
Social Impact Fund (SIF): The SIF is a sub-category of Category-I AIF introduced in July 2022, that primarily invests in Not-for Profit (NPOs) registered or listed on the Social Stock Exchange (SSE) and in for-profit social enterprises.
Minimum Value: The Board approved amendments to SEBI (AIF) Regulations, 2012 to reduce the minimum value of investment by individual investors in SIF of AIF to Rs 1000 from existing Rs 2 lakhs.
Winding Up Schemes
Flexibility: The board has introduced flexibility for AIFs in winding up schemes and surrendering registration.
Procedure: AIFs will now be allowed to retain liquidation proceeds beyond the tenure under specific conditions such as pending litigation, tax liabilities, or operational expenses. To retain funds, AIFs have to either show.