MNCs direct Indian units to avoid mutual funds and NBFCs.
BANKING AND CREDIT NEWS-June 28, 2019--MNCs direct Indian units to avoid mutual funds and NBFCs
(C)2019 M2 COMMUNICATIONS http://www.m2.com
Global Banking News - 28 June 2019
Multinational firms (MNCS) have directed their Indian units to stay away from Indian mutual funds and non-banking financial companies (NBFCs).
The call comes as a large number of NBFcs are facing financial problems. The firms have asked their Indian units to park surplus funds in bank fixed deposits (FDs) and avoid NBFCs. Recently, many firms in the Indian shadow banking sector defaulted on payments. Investment firms are now parking...
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