The mutual fund SIP stoppage ratio rose to 122.76% in February, up from 109.15% in January, as more investors discontinued SIPs than started new ones. SIP inflows dropped nearly 2% to Rs 25,999 crore, while total SIP AUM stood at Rs 12.37 lakh crore. Experts suggest the decline is seasonal and encourage investors to stay invested.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.