PSEs Permitted To Invest In PS Mutual Funds Upto 30% of Their Surplus Cash. Good News For The Stock Market. -India Rising.

The Cabinet Committee on Economic Affairs has approved a proposal permitting public sector enterpriese (PSEs) to invest upto 30% of their surplus cash in Public Sector mutual funds. This is a good news where the total of Rs.71,860 Crores (USD 17.965 Billion) is expected to flow into the capital market through mutual funds. There is estimated Rs.2,39,535 Crores (USD 59.88375 Billion) surplus cash with public sector enterprises. There is a rider in good news, the committee has given approval for just one year and is subject to review depending upon the performance of the funds.

Posted by bwms on July 30, 2007 at 6:02 pm
Filed under: Mutual Funds, News Postings, Stocks  |  Leave a comment  |  Trackback URI

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