On 16 December 2019, IND SEBI decided AMCs may provide management and advisory services in terms of regulation 24(b) of regulations to FPIs under certain categories.

• Government and government related investors such as central banks, appropriately regulated entities such as pension funds, FPIs wherein the above hold more than 50%.
• For agreements entered into by AMCs on or before the date of this circular, which are not falling under categories, the AMCs may continue to provide the services, for period mentioned in agreement or one year from the date of this circular, whichever is earlier.
• The aforesaid provisions shall be effective from the date of this circular.