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Mutual funds add 4 lakh folios in Oct; total tally at 9.37 crore
Overall, investors infused Rs 98,576 crore in various mutual fund schemes last month, driven by robust inflows in debt-oriented schemes. Debt-oriented schemes witnessed a net inflow of Rs 1.1 lakh crore in October, after recording net outflows for two months in a row. The inflow was largely on the back of a significant investment in liquid, short-duration and money market categories.
On the other hand, the equity mutual funds saw an outflow for the fourth consecutive month to Rs 2,725 crore in October, mainly on profit-booking by investors..
RBI plans merger of Lakshmi Vilas Bank with Singaporean DBS Bank India
Kris Gopalakrishnan appointed first chairperson of Reserve Bank Innovation Hub
The RBIH shall create an eco-system that would focus on promoting access to financial services and products, RBI said, and added “this will also promote financial inclusion”.
The Hub will collaborate with financial sector institutions, technology industry and academic institutions and coordinate efforts for exchange of ideas and development of prototypes related to financial innovations.
Ahead of IPO FinMin invites bids from actuarial firms for valuing LIC
The Request for Proposal has been issued to seek proposals / bids from reputed and eligible actuarial firms to work with LIC to “develop IEV in line with the requirements of the relevant Acts and regulations, Actuarial Practice Standards and guidance notes issued by the Institute of Actuaries of India and LIC Act, 1956, and to provide support during the IPO process”, it said.
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