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Reduction in STT will witness merger of mutual fund schemes in coming months
The Security Transaction Tax (STT) is reduced by 0.01% to 0.25% for mutual funds and this has further reduced the merger costs for the mutual funds. This reduction has induced mergers in the mutual fund schemes in the recent months. The 14 mutual fund schemes have been already merged from the month of July after the reduction in STT coming into effect from June.
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