Mutual fund houses are expected to meet on Friday to discuss measures to protect investors in case of an Amtek Auto-like default. The move is triggered by a query raised by lender State Bank of India (SBI) to mutual fund houses seeking 'compensation policy' in an event of a default.
SBI, the country's biggest bank, is one of the biggest investor in the debt schemes-especially short-term and liquid funds-offered by mutual fund industry. Friday's meeting will be organized by industry body Association of Mutual Funds in India (Amfi).
