Birla Mutual launches additional plan under FMP scheme
Mumbai: Birla Sun Life Mutual Fund has launched an additional one-year plan under its Fixed Maturity Plan. The new plan opened for subscription on July 8 and closes on July 15.
The maturity of the plan is the 379th day from the close of the subscription period and will automatically mature on that date, according to a press release.

The minimum amount to be raised under this plan would be Rs 10 crore. The minimum subscription amount is Rs 1 crore and in multiples of Re 1 thereafter.

There won't be any entry load. An exit load of four per cent will be applicable if the investment is redeemed within 90 days from the day of allotment, one per cent if redeemed after 90 days but within 180 days from date of allotment, 0.75 per cent if redeemed in 180 - 270 days and 0.50 per cent after 270 days.
Back to News Review index page  

IndusInd Bank launches debit card: plans new products
Mumbai: IndusInd Bank has launched a a debit card, `PowerCard' and the bank's existing 1,50,000 ATM card holders are in the process of being converted into debit card holders said Mr Jayanta K. Basu, executive vice-president, IndusInd Bank here today.

IndusInd bank, which plans to get into auto loans, home loans and loans against shares soon, has started dispensing personal loans on a pilot basis in Mumbai at the rate of Rs 5-6 crore per month.

The bank hopes to increase its operating profit by 50 per cent during the current year from the previous fiscal. The operating profit of the bank for the year ended March 31, 2003 was pegged at Rs 308 crore.
Back to News Review index page