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Equity mutual funds have closed the financial year 2022-2023 on a mixed note. Equity schemes of Indian mutual funds saw net inflows of Rs 28,463 crore in March 2022 compared to net inflows of Rs 19,705 crore in the previous month. The overall assets under management remained almost flat at Rs 37.56 lakh crore as on March 31, 2022, due to outflows from bond funds. Systematic investment plan (SIP) has been a preferred means for investing in mutual funds especially in equity funds for most individual investors. SIP contribution for the month of March 2022 was recorded at Rs 12,327 crore compared to Rs 11,438 crore in the previous month. The number of SIP accounts has gone up to 5.27 crore in March 2022 compared to 5.17 crore in February 2022. Index funds have seen net inflows of Rs 12,313 crore in March 2022 compared to net inflows of Rs 5,747 crore in the previous month. All open-ended equity scheme categories have seen net inflows in March 2022. A large chunk of money however c...

HDFC Ltd, India's largest non-banking financial corporation (NBFC), is slated to merge with HDFC Bank, India's largest private sector lender. According to some sources, the merger will create India's third-largest firm and aid HDFC Bank in consolidating its banking position. The HDFC-HDFC Bank combination will be India's largest corporate merger, coming only days after Axis Bank acquired Citibank's consumer banking operations in the country. The combination is still awaiting permission from the RBI, CCI, SEBI, NCLT, stock exchanges, and a number of other regulatory bodies. HDFC has approached the RBI to request that the Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), and Priority Sector Lending be phased in (PSL). The combined market valuation of HDFC Ltd and HDFC Bank surpassed that of TCS on April 4, 2022, indicating that the merger could result in the country's second-most valuable corporation. At the end of the intraday trading session at 03:30 PM...