In your interest.
Online Personal Finance Magazine
No beating about the bush.
A full-blown panic in the real estate and financial services sectors led to the withdrawal of nearly Rs30,000 crore from fixed maturity plans (FMPs) of mutual funds in the first week of October alone. These fund houses met redemption demands by borrowing money at high rates of 20% to 24%. Many were reluctant to utilise the bank credit lines for this emergency believing that when the...