Quantum Mutual Fund objects to ICICI Bank s delisting plan for ICICI Securities, citing non-compliance and flawed valuation. Allegations of fraudulent means in achieving majority vote raise concerns about the scheme s integrity.
The Finance Bill 2023 amendment had suddenly removed the capital gains tax and indexation benefits on debt mutual fund schemes. Experts say that that impacted the appeal of debt funds to an extent and wish for a roll-back
India s mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013.
MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds.
By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
India Business News: Mumbai: Finance Minister Nirmala Sitharaman will present an interim budget on February 1, which will be a vote on account which, by definition, cannot.
In a big blow to mutual fund investors, the government in Finance Act 2023 had decided that capital gains from debt funds and certain other categories of non-equity mutual funds would be taxed at a higher rate.