The Securities and Exchange Board of India met Thursday and took a number of steps to reenergize the mutual fund industry in India. Fund assets have stagnated there ever since the ban on entry loads (sales loads) in August 2009.

"SEBI Board took note of the lack of penetration of mutual fund products, inadequate distribution network, need for greater alignment of the interest of various stakeholders, regulation of distributors and issues concerning investor protection, and has approved some immediate steps," according to a press release by the agency.

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