SEBI introduces NISM V-D for mutual fund and SIF distributors
Business
SEBI is making things simpler for finance pros: there's now one unified certification (NISM Series V-D) for both mutual fund and Specialized Investment Fund (SIF) distributors, instead of juggling separate exams.
Derivatives certification waived for SIF distribution
From September 22, 2026, the old derivatives certification won't be needed for SIF distribution (just keep your basic mutual fund certification during the switch).
SIFs themselves are pretty new (launched in 2025), designed for experienced investors with at least ₹10 lakh to invest, and let you use flexible strategies like hedging.
They're growing fast too: assets jumped 29% in just a month this summer.