#Mandi- Equity mutual funds receive negative inflow in July:
Equity mutual funds witnessed net outflows of Rs 2,480 crore in July for the first time in over four years. SIP inflow also declined marginally to Rs 7,830.66 crore as against Rs 7,917 crore in June.
Net redemption is attributed to the deteriorating economic and jobs scenario, which may have forced investors to discontinue their SIPs.
Debt mutual funds, on the other hand, saw a huge jump in net inflows in July as investments in liquid funds, overnight funds and corporate bond funds spiked up. Net inflows were Rs 91,392 crore as against net inflows of Rs 2,862 crore in June.
#Mandi- Passenger vehicle retail sales dip by 25% in July: FADA
Retail sales of passenger vehicles (PV) remained under pressure in July and declined by 25.19% to 1,57,373 units. PV sales stood at 2,10,377 units in July 2019.
Two-wheeler sales declined 37.47% to 8,74,638 units in July compared to 13,98,702 units in July 2019.
#Mandi- Bank unions oppose KV Kamath as the loan restructuring committee head
The All India Bank Employees’ Association (AIBEA) has opposed the decision to appoint KV Kamath as the head of the Expert Committee on COVID-19-related loan restructuring.
The association has requested the Reserve Bank of India to review it's decision citing Kamath’s alleged role in the ICICI Bank- Videocon Group loan controversy. KV Kamath was among the members of the committee that approved the Videocon loan.
“We strongly feel that at this stage, making such a person as Chairman of the Expert Committee is avoidable and needs to be reviewed,” the union urged the Reserve Bank of India.