While SEBI has allowed domestic mutual funds to invest in overseas funds, the cap set by the RBI for such funds could defeat the purpose of the market regulator’s move.
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Strapped for top-flight talent as well as differentiated products, Reliance’s financial services business hasn’t managed to move the needle in its two years of existence.
They were the app’s flagship feature until the RBI shut down new deposits into Paytm wallets a year and a half ago.
After the derivatives hedging fiasco triggered the resignations of top executives, indications are that the regulator expects the private lender’s board to do a thorough cleanup.