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Mutual funds, rating agencies and the folly of loans against promoter shares

Updated : April 15, 2019 12:06 PM IST

Mutual funds are not in the business of loaning. They are in the business of investing.
Whichever way one looks at it, mutual funds and rating agencies have goofed up seriously.
The only good from all this is that debt fund investors have learnt the importance of the tiny legend inscribed at the end of the form.
Mutual funds, rating agencies and the folly of loans against promoter shares
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