Readings: PSE funds, Mutual funds, Debt collection BPO
- Economic Times: PSEs free to park funds in any MFs
The government has allowed CPSEs to park 30% of their cash surplus either in equity or debt instruments or money market mutual funds.
Taken together these companies own about Rs 4 lakh crore in surplus funds. This means with proper investment plans about Rs 1.33 lakh crore can come in to the kitty of mutual funds soon. Companies like ONGC and BSNL have shown their interest in investing their money in mutual funds and have already submitted the plans to the nodal ministries.
- Financial Express: MFs accumulate Rs 20,000 cr cash for deployment
MFs are sitting on Rs 23,545 crore of cash that is waiting to be deployed in the market. Of this Rs 19,214 crore lies with existing MFs, while the remaining Rs 4,331 crore has been mobilised through the NFOs.
Out of the entire mutual funds industry, diversified equity funds were having cash of Rs 7,859 crore (8.64 per cent of the total assets) at the end of March against Rs 4,773 crore (4.46 per cent of total assets) in January 2008.
Americans are used to receiving calls from India for insurance claims and credit card sales. But debt collection represents a growing business for outsourcing companies, especially as the American economy slows and its consumers struggle to pay for their purchases.
Encore pays its collectors in India an average base salary of 17,000 rupees ($425) a month, and they earn bonuses — sometimes more than $1,000 a month — for getting customers to pay. In contrast, collectors in the United States, make about $6,500 a month.
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