Sebi board meeting: Open market buyback is back and intraday borrowing for MFs; 5 key decisions investors should know

SEBI board approved five key reforms: reintroduction of open market buybacks through stock exchanges from August 1, 2026, with safeguards like mandatory 40 percent fund utilisation in the first half and promoter holdings frozen during buyback. Mutual funds were permitted intraday borrowings for settlement timing differences and FX settlements, but cannot use it for leverage. The GARUDA mechanism will allow regular AIF schemes to launch within 10 working days, while AI-only schemes and Angel Funds can launch immediately after filing. Municipal bond regulations were eased to allow refinancing and retail incentives, and securities transmission was simplified by removing mandatory probate requirement and accepting QR-coded death certificates.