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Banks to gain $36 billion in deposits as debt funds get taxed

The nation scrapping tax incentives for some debt mutual funds has paved the way for banks to garner as much as $36 billion in deposits from the asset managers, according to Sunil Mehta, chief executive officer of Indian Banks’ Association, a lenders’ lobbying body. ....

Sunil Mehta , Niranjan Avasthi , Karthik Srinivasan , Indian Bank Association , Marketing Digital Business At Edelweiss Mutual Fund , Reserve Bank , Digital Business , Edelweiss Mutual , Tax Returns ,

Indian banks to gain $36 billion in deposits as funds get taxed

India’s decision to tax returns from fixed-income mutual funds is set to bolster its lenders’ efforts to lure deposits for financing a resurgent credit growth and boost profits. ....

Niranjan Avasthi , Karthik Srinivasan , Sunil Mehta , Marketing Digital Business At Edelweiss Mutual Fund , Indian Bank Association , Reserve Bank , Digital Business , Edelweiss Mutual , Fixed Income Mutual Funds , Indian Banks Association ,