Updated: April 05, 2023, 07:27 PM IST
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India’s decision to tax returns… MoreIndia’s decision to tax returns from fixed-income mutual funds is expected to strengthen the efforts of the country’s lenders to attract deposits. This will help revive the country’s credit growth and increase profits. The country has eliminated tax incentives for some debt mutual funds, paving the way for banks to collect up to $36 billion in deposits from asset managers, according to Sunil Mehta, chief executive officer of the Indian Banks’ Association. . The move has come as a relief to financiers as the widening gap between credit off-take and deposits has increased the risk of asset-liability mismatch and pushed up funding costs.