Cosmea Financial Holdings (CFH), promoted by Sam Ghosh, has received approval from the Securities and Exchange Board of India (Sebi) to sponsor a mutual fund. Cosmea filed its application with Sebi in May and has six months to complete the registration formalities under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
Mutual funds reduces overall cash allocation by Rs 6,200 crore to Rs 2.17 lakh crore in May
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