Mutual funds will stop accepting fresh investments in over 100 schemes with SIP (Systematic Investment Plan) option, as market regulator Sebi has asked fund houses to move to 'one plan, one scheme' structure.

As per Sebi's guidelines, the single plan structure would apply to all new schemes with effect from today, while existing schemes with multiple plans (based on investment amount) can accept fresh subscriptions only under one plan.

Other plans will continue till the existing investors remain invested in the plan.

SIPs provide the mutual fund investors option to put in as low as Rs 100 per month and have become quite popular in recent years.

While the fund houses would continue to offer SIP options in their schemes, they can not launch multiple investment plans for one single scheme. The move is part of reform measures taken by Sebi, coming into effect today, to simplify the mutual fund investments and re-energise the sector.

As a result, the National Stock Exchange (NSE) said in a circular that a total of 126 schemes would be discontinued for subscription/SIP registration (fresh as well as existing SIP) based on the intimation received from AMCs (Asset Management Companies), with regards to SEBI guidelines on Single plan structure for mutual fund schemes.

Separately, BSE listed out 84 mutual fund schemes where subscription/SIP registration (for existing SIP) is being discontinued from today.

These schemes are available for trading on mutual fund platform of the two bourses.

The BSE also listed out the schemes where minimum purchase amount and additional purchase amount have been lowered.