The nationwide lockdown will not have an impact on the mutual funds and registered Investment advisors.
In a notification sent to mutual fund houses and Registered Investment Advisors (RIAs), the Securities and Exchange Board of India (SEBI) has said that all SEBI-registered intermediaries such as Asset Management Companies and RIAs are exempted from the nationwide lockdown and will remain operational.
However, SEBI has said AMCs and RIAs can work with minimum employee strength.
MFs and RIAs were skeptical whether physical transactions will be allowed since they are operational.
To encourage social distancing, AMFI has asked mutual funds houses to honour only online transactions from March 30.
Many asset management companies have asked their employees to work on a rotational basis to ensure their safety and smooth functioning of mutual fund operations.
The fund houses have also asked teams to minimise visitations and hold virtual meetings and conferences wherever possible.
Coronavirus LIVE Updates
On March 24, Prime Minister Narendra Modi announced a three-week lockdown nationwide to restrict the spread of coronavirus.
COVID-19, which first emerged in the Chinese city of Wuhan in late 2019, has now spread across 177 countries.
March 30 is the sixth day of the 21-day nationwide lockdown. The total number of reported COVID-19 cases in India stands at 1,071. The Union Health Ministry has said that 96 people have recovered so far, but 27 have died.
Globally, there have been over 7.24 lakh confirmed cases of COVID-19. At least 34,000 people have died so far.
The highly-infectious respiratory disease is spreading rapidly in Europe and the United States.
The US now has the highest number of cases, followed by Italy. Cases continue to rise in Europe.