Market regulator Sebi has revised mutual fund regulations to permit non-bank Sebi-registered custodians to manage gold or gold-related instruments. Currently, only the banks that are registered as custodians with Securities and Exchange Board of India (Sebi) are permitted to manage gold exchange-traded funds (ETFs) and other gold-related products. For this, the regulator has amended Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.