Mutual funds reduced their exposure to commercial papers (CP) in June in the aftermath of the Infrastructure Leasing and Financial Services (IL&FS) crisis.
According to data released by Prime Database on Friday, holdings of mutual funds in CP in value terms stood at ₹3.72 trillion as on 30 June, down 13.69% from ₹4.31 trillion in the previous month. It also marked a 24.4% fall from the all-time high of ₹4.92 trillion on 31 August 2018.