Liquidity tightening by India's central bank is putting a squeeze on the country's funds industry. "This was supposed to be the year for fixed income. But that has been shaken up by this [central bank] policy action. A lot of first-time investors have been exposed and learned in a rather rude manner that the returns can go negative in a mutual fund," said Nikhil Johri, CEO of BNP Paribas Asset Management India.
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