Stocks

Fin Min, MFs meeting today to work out revitalising strategy

| Updated on: Jul 11, 2012

The Finance Ministry is set to finalise on Thursday an action plan for revitalising the mutual fund industry. In this regard, there will be second meeting with industry players and SEBI officials.

A Senior Finance Ministry official said, “We will finalise issues that can be considered to help the sector. The Government can consider incentivising the distribution network.” The plan will have two parts — one which can be implemented by the market regulator, and other which could be done by the Government.

SEBI is to decide about increasing the total expense ratio. For the Government, it has to decide about Service Tax. The industry has demanded that it should be borne by the investors. Now the Department of Revenue has to take a call on this.

>shishir.s@thehindu.co.in

Published on July 11, 2012

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