HDFC Mutual Fund withdraws NFO of Gold-Silver FoF

HDFC Mutual Fund has withdrawn its proposed Gold-Silver Passive Fund of Fund NFO, citing concerns over rising precious metal imports and their impact on India's trade balance. This decision follows Prime Minister Modi's appeal to curb gold and silver purchases and a significant increase in import duties, aiming to conserve foreign exchange reserves amidst global economic uncertainty.

Raccontata daeconomictimes.indiatimes.com