India, March 28 -- The Securities and Exchange Board of India (SEBI) convened its board meeting on March 23, where it cleared a broad set of regulatory reforms spanning intermediaries, foreign investors, alternative investment funds, and governance frameworks.

Aimed at striking a balance between improving ease of doing business and strengthening regulatory oversight, the measures include compliance relaxations for AIFs and REITs/InvITs, revisions to the 'fit and proper' norms, and operational enhancements for FPIs, among other initiatives.

For Alternative Investment Funds, SEBI has introduced flexibility in scheme wind-up by permitting retention of liquidation proceeds beyond fund life under specified conditions, including pending litig...