Nippon India Mutual Fund marks down its investment in Yes Bank to zero
NEW DELHI : Nippon India Mutual Fund on Friday said it has marked down the value of its investments to zero in bonds issued by troubled private sector lender Yes Bank. In addition, the fund house has imposed a limit of ₹2 lakh on fresh inflows into the impacted schemes till further notice, Nippon India MF said in a statement. This limit is imposed only on the new applications, switch-ins, systematic transfer plans and systematic investment plans received after March 5, it said. The announcement came hours after Yes Bank was placed under a…
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