AMFI suspends Stable Money’s mutual fund distribution arm for six months
05 Jun 2026, 07:07 PMSome users have already been affected, with investors reportedly receiving SIP transaction failure messages.
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Stable Money's mutual fund distribution arm, Stable Finserv, has been suspended from selling mutual fund products for six months by the Association of Mutual Funds in India (AMFI), The Economic Times reported citing unidentified people.
The report stated that the suspension will remain in effect from May 21 to November 20, 2026, preventing the company from offering new mutual fund investments during this period.
Some users have already been affected, with investors reportedly receiving SIP transaction failure messages because the distributor code linked to their investments has been restricted.
Founded in 2022 by former Navi executives Saurabh Jain and Harish Reddy, Stable Money offers fixed deposits, corporate bonds and mutual fund investment products through its platform.
Earlier in February, Stable Money had raised $25 million in a pre-Series C funding round led by Peak XV Partners. Existing investors Z47, RTP Global and Fundamentum Partnership participated in the funding round.
Stable Money facilitates nearly Rs 300 crore in fixed deposits and Rs 400 crore in corporate bond investments every month, the report said. Mutual fund investments make up a smaller part of its business, with monthly volumes estimated between Rs 50 crore and Rs 80 crore.
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