Baroda Pioneer Mutual Fund new issue closes on 8th June
Baroda Pioneer Mutual Fund has launched Baroda Pioneer 90 Day Fixed Maturity plan-Series 2, a close-ended income scheme.
The investment objective of the scheme is to generate regular returns by investing in a portfolio comprising of debt instruments and money market instruments maturing on or before the maturity of the scheme.
The new issue closes on 8th June. The minimum investment amount is Rs5,000.
Kotak Mahindra Mutual Fund new issue closes on 13th June
Kotak Mahindra Mutual Fund has launched Kotak FMP Series 50 (24M), a close-ended income scheme. The tenor of the plan is 24 months.
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.
The new issue closes on 13th June. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Index is the benchmark index. Deepak Agrawal and Abhishek Bisen will be the fund managers for the scheme.
Equifax is first to launch alerts specifically targeted at helping banks with retention, cross-selling and collections
Equifax Credit Information Services Pvt Ltd (ECIS), the joint venture between Equifax and six leading Indian financial institutions (Bank of Baroda, Bank of India, Kotak Mahindra Prime Ltd, Religare Finvest Ltd, Sundaram Finance Ltd and Union Bank of India), is launching a new suite of alerts products to assist banks with better targeting in their retention, cross-sell and collection efforts. These alerts will enable banks to know if any of their customers are shopping for new lines of credit or have opened new accounts.
Leveraging information provided monthly by 150+ member banks, Equifax can monitor a customer's entire set of portfolios, a customer's specific portfolio or a customer's specified list of accounts. Equifax can then provide to the bank actionable alerts on a weekly or monthly basis. With these new alerts, banks that augment their current portfolio scrub processes can now focus their retention efforts on those customers who may be looking elsewhere. Similarly, collections groups may wish to know that a customer they have categorised as 'high risk' has just opened a new account elsewhere. Some characteristics may have changed with this customer (for example a new job, other source of income, etc) that will prompt collections groups to contact this individual to clear unpaid debt.
"Banks throughout India continue to refine their portfolio management practices. After talking with many of these institutions, we learned that their current portfolio scrub processes need additional information to be effective," says Samir Bhatia, MD and CEO of ECIS. "Adding Equifax Alerts will allow these banks to implement retention, cross-sell and collection programs more effectively by targeting the right customers at the right time."