The government today said foreign funds have put in over Rs 89,500 crore in

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Indian equities between April and December 2009, reversing the outflow of the previous year.

The total investment made by Foreign Institutional Investors (FIIs) in the Indian share market for the first three quarters (April-December) stood at Rs 89,576 crore in 2009-10, Minister of State for Finance Namo Narain Meena informed the Rajya Sabha in a written reply.

These funds had pulled out a net Rs 41,555 crore from Indian stocks in April-December peroid of 2008-09.

Besides, mutual funds have pulled out Rs 4,421 crore from equities during the nine months ended December 2009, against an inflow of Rs 7,868 crore in the corresponding period a year-ago, he said.

While banks have withdrawn Rs 4,500 crore, insurance companies have put in a net Rs 25,689 crore in the share market during the nine-month period ending December 2009.

This is against Rs 732 crore withdrawn by banks and an inflow of Rs 42,226 crore in April-December period of 2008-09, he added.