Groww has received the approval of the Securities and Exchange Board of India to launch its first index fund - Groww Nifty Total Markets Index Fund - through new fund offering
National
The firm has received the approval of the Securities and Exchange Board of India (Sebi) to launch its first index fund — Groww Nifty Total Markets Index Fund — through new fund offering (NFO), according to a report in the Moneycontrol.SEBI took steps in regulating online investment platforms, including Paytm, Zerodha, and Groww, that facilitate transactions in direct plans for mutual fund schemes—referred to as execution-only platforms or EOPs. The index fund launch by Groww comes just a few days after its rival Zerodha Asset Management announced the launch of two of its passive index fund schemes Zerodha Tax
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