News From Press Mutual fund investors miss bull rally because of technical glitch

Mutual fund investors miss bull rally because of technical glitch

NPCI upgraded its automated payment system on January 31 but problems with implementation resulted in investors not receiving the units they purchased on time, said people aware of the matter.

The Economic Times Feb 11, 2021

Hundreds of thousands of mutual fund investors may have missed out on the stock market rally in the past 10 days, either fully or partly, as glitches at the National Payments Corporation of India (NPCI)—which enables digital payments and settlements—disrupted transactions. NPCI upgraded its automated payment system on January 31 but problems with implementation resulted in investors not receiving the units they purchased on time, said people aware of the matter.

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