SEBI wants PSU to invest surplus cash in MFs

India Infoline News Service | Mumbai |

The objective of the regulator is to attract more funds for long-term investment purposes and to revive the economy

Capital market regulator SEBI (Securities and Exchange Board of India) has suggested to the government that it should allow all PSUs to invest their surplus cash in mutual funds, according to a media report.
The objective of the regulator is to attract more funds for long-term investment purposes and to revive the economy.
The proposals are also aimed at bringing down the Indian markets' over-reliance on foreign money, the report added.
the proposals are being actively considered by the government and a final decision can be announced in the Union Budget next month.
At present, only Navratna and Miniratna Central Public Sector Enterprises (CPSEs) are allowed to invest in public sector mutual funds.
Sebi has recommended that the government should allow all CPSEs to choose from any registered mutual funds, including those in private sector, for investing their surplus cash, the report said.



 

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