Reviewing India fund business: BNP Paribas

Mumbai:BNP Paribas SA said it is reviewing operations in India following a newspaper report that the regulator asked the company to resolve how it will manage the stakes it owns in two mutual fund managers in the country.

The Securities and Exchange Board of India has set a deadline for BNP Paribas to choose between its holdings in Fortis Mutual Fund and in Sundaram BNP Paribas Asset Management, or to merge the two, the ‘Economic Times’ reported on Thursday.