To shore up cash, companies redeem liquid funds

Mumbai: You weren’t alone in queuing up at currency kiosks to draw cash just when the local authorities from Chandigarh to Chennai began clamping curfews. Big companies with big purses did exactly the same, albeit in a different segment of the market.

Overnight and liquid funds, where large companies park their short-term surplus cash, saw a net outflow of Rs 57,020 crore in May, reflecting the urgency to hold immediate cash. Low yields also