T+5, T+3 settlements to be separate
Mumbai: The Sebi has said the settlement for trades done on `T+5' basis up to 31 March and those carried under `T+3' basis from 1 April will be conducted separately.

The rolling settlement cycle on "T+3 basis" would commence from 1 April and there would be overlapping of settlements for trades under two separate cycles, Sebi said in a release.

As the two settlements would be conducted on a single day it has been decided that, they would be settled separately and not clubbed.

Under the new dispensation, pay-in and pay-out for securities and funds would be carried out on third day following trade date.

The auction for shortage in deliveries would be conducted on the fourth day.
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IDBI-Principal relaunches 2 fixed maturity plans
Mumbai: IDBI-Principal has relaunched two Fixed Maturity Plans (FMPs) under its Deposit Fund series. An open-ended debt oriented fund, the IDBI-Principal Deposit Fund will now have two schemes - a 91-day plan and a 371 day plan for investors both offering dividend and growth options.

The Deposit Fund series inclusive of the two FMPs will be open for subscription from March 26 to March 27. The minimum investment amount is Rs 5,000 for each FMP in the Deposit Fund.

IDBI-Principal will invest the FMPs' corpus into a portfolio of high quality debt, Government securities having a residual maturity up to one year and money market instruments such as call deposit, commercial paper, commercial bills, T-bills and bank deposits.
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