Why mutual fund distributors are giving up multiple licences

Mutual fund distributors with multiple AMFI registration numbers are asking asset managers to consolidate them after revised Sebi rules removed the GST-related benefit of splitting commissions.

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Asset management companies (AMCs) have begun receiving requests from mutual fund distributors to consolidate their assets under a single registration, following a regulatory change that has removed the incentive to operate through multiple registrations, three AMC executives told Mint.

About the Author

Srushti is a markets reporter at Mint. She writes on equity markets, and her areas of coverage range from brokers and exchanges to mutual funds and the fast-evolving alternatives space, including GIFT City, from the financial capital of India. She has an experience of over three years in journalism, and has previously worked at Moneycontrol.

She has an undergraduate degree in mass communication and a postgraduate diploma in business and financial journalism from Asian College of Journalism, Chennai.<br><br>Srushti prefers meeting people from the industry over making calls. Her work aims to drive impact—her story on illegal gold imports, for instance, caught the government’s attention and contributed to a policy shift. She specialises in turning complex market data into clear, engaging stories so even her grandmother could understand futures and options.<br><br>Outside of the newsroom, she enjoys spending money on jewellery and watching thriller films—especially the kind that keep her awake at night.

She spends 1.5 hours a day commuting in Mumbai locals, listening to horror podcasts on her way to work. She’s also very talkative—so reach out only if you have lots of time.

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