Microsoft IT outage had minimal impact on mutual funds: AMFI

Microsoft Outage: A global technical glitch in Microsoft's systems on Friday affected only five asset management companies (AMCs) out of 44, according to the Association of Mutual Funds in India (AMFI).

However, the issue was resolved within the day, and the overall impact on the mutual fund industry was minimal.

"In India, all the Asset Management Companies (AMCs), their Mutual Funds and Registrar and Transfer Agents (RTAs) functioned without any impact," the MF regulator said.

'Out of the 44 AMCs, there were 5 AMCs who reported disruptions to some important functions, which were resolved during the day and did not have any material impact on operations," it added.

On the other side, the stock exchanges NSE and BSE also are not affected by the system glitch, the bourses said in a filing.

"In India, all exchanges and clearing corporations worked without any hindrance," the statement said.

On July 19, 2024, a global outage of Microsoft Systems caused disruptions across various sectors worldwide, including banking, aviation, and broadcasting.