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PSUs can invest funds in mutual funds

Navratna and Miniratna CPSEs can invest 30 per cent of their surplus funds in Sebi-regulated public sector mutual funds

July 22, 2014 4:13 IST | India Infoline News Service
The government on Tuesday said that the public sector units such as Navratnas and Miniratnas are allowed to invest 30% of their surplus funds in Sebi-regulated public sector mutual funds.
Minister of state for heavy industries and public enterprises P Radhakrishnan, in a written reply to the Lok Sabha, said, “It has been decided that Navratna and Miniratna CPSEs can invest 30 per cent of their surplus funds in Sebi-regulated public sector mutual funds.”
“It has also been decided that at least 60 per cent of surplus funds should be placed with public sector banks,” Mr Radhakrishnan added.

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