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Large state-run PSUs face losses from IL&FS Investments

A few large state government-run organizations are staring at losses from investments in IL&FS bonds. Provident funds from Haryana Vidyut Prasaran Nigam (HVPNL), Maharashtra State Electricity Board (MSEB) and Maharashtra State Road Development Corporation (MSRDC) hold investments in IL&FS bonds worth around Rs 150-500 crore, sources said. Unlike mutual funds, these provident funds don’t need to provide for any mark-to-market losses immediately on these bonds since they do not account quarterly. Employees registered under these provident funds are unlikely to suffer losses as trustees managing retirement money are mandated to infuse cash for any such loss. 

Read More at The Economic Times News date : 24 Jan 2019, Thursday

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