In the wake of Franklin Templeton wounding up six of its debt mutual fund schemes, India’s largest mutual fund distributors body has urged the Reserve Bank of India to set up a Special Purpose Vehicle (SPV) to buy portfolios from troubled fund houses and pay off investors. The Foundation of Independent Financial Advisors (FIFA) in a note addressed to the Finance Ministry, SEBI, RBI and AMFI stressed on the liquidity crunch faced by the fund houses that are facing panic redemption after the Franklin Templeton fiasco that left 3.25 lakh investors in the dark.
Health, life insurance premiums need a tax cut? GoM to meet on October 19
Read More