MFs may finally be included in RGESS

The government might finally include mutual fund (MF) investments in the Rajiv Gandhi Equity Savings Scheme (RGESS), against the backdrop of Prime Minister Manmohan Singh outlining resolution of problems in the MF industry as one of the priority areas. An official, who is part of the consultation process for concretising RGESS norms announced in the Budget, told Business Standard, that with the PM showing interest chances of MF investments becoming part of the scheme had increased, as initially the finance ministry was not inclined to accept this idea.



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