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New Delhi May 17 The Cabinet Committee on Economic Affairs on Thursday referred the issue of allowing state-owned companies with surplus cash reserves to invest in mutual funds to a committee of secretaries (COS).

"This matter has been referred to a committee of secretaries," Mr P. Chidambaram, Finance Minister, told reporters after the CCEA meeting.

The proposal before the CCEA was to consider allowing state-owned companies with huge cash reserves to park their surplus funds with mutual funds. Currently, the blue-chip PSUs are parking their surplus funds in fixed deposits of nationalised banks, RBI bonds and treasury bills.

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