For us it has been an internal compliance scenario. This is with a view to manage both volatility, risk and liquidity. As fund managers, since these are open ended funds, we don t hold out to the market timers. India scheme Gul Teckchandani says This has got a high entry barrier of Rs.1 lakh minimum investment currently and this fund is for a little sophisticated investor because it does not necessarily track the markets and we wanted a little longer term investors in this fund. Gul Teckchandani says If IT does not have future you may as well write the obituary of the country.
Software is here to stay as an industry.
The argument can be only of individual cos. Gul Teckchandani says The gap in the call money markets which is provided by FIs and MFs is about 5000 cr. everyday. The total market is about 20,000 cr. everyday. RBI has to take the money or give the money in and around at call rates unless the market is very heated where somebody or the other comes and lends. Lets wait and watch, we dont anticipate any problems.