SEBI, vide Circular dated November 27, 2025, prescribed a framework (to come into effect from February 01, 2026) for incentivizing distributors for mobilizing investment/inflows from new individual investors (new PAN) from B-30 cities and new women individual investors (new PAN) from both T-30 and B-30 cities. Based on the feedback received from the industry, citing operational difficulties in putting place the requisite systems and processes for smooth implementation of the additional incentive structure, SEBI has extended the implementation timeline. Accordingly, the provisions of the aforesaid circular shall now come into effect from March 01, 2026.
