Birla Sun Life MF floats Fixed Term Plan-Series DM

Birla Sun Life MF new issue closes on 28th September

Birla Sun Life Mutual Fund has launched Birla Sun Life Fixed Term Plan-Series DM, a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.

The new issue closes on 28th September. The minimum investment amount is Rs5,000.

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Bajaj Allianz Life introduces iSecure

iSecure comprises a loan insurance plan, named iSecure Loan, and an increasing sum assured term plan, iSecure More

Bajaj Allianz Life has launched iSecure-a term plan product. It comprises a loan insurance plan, named iSecure Loan, and an increasing sum assured term plan, iSecure More. iSecure Loan is meant for borrowers who wish to cover their liabilities, iSecure More is aimed at young insurance-seekers whose protection needs are likely to go up in tandem with their age and responsibilities.

According to Bajaj Allianz, iSecure Loan presents borrowers with a choice of insurer and product as they will not be forced to buy the product offered by their bank. It is also available with loans other than home loans. The premium paying term of iSecure Loan is limited to 2/3rd of the policy term. The borrower is allowed to select a policy term between five years and 25 years, depending on the tenure of his loan. The interest rate can range from 5% to 20% on the loan, depending on the insured's choice at inception.

iSecure More can cater to those who are convinced that their insurance needs will go up in future and are unable to make a reasonable estimate at present.

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Govt, RBI to tackle rising inflation: Pranab

"Reserve Bank of India is also watching the situation like the government and collectively it would be possible for us to tackle the problem," finance minister Pranab Mukherjee commented as headline inflation soared to 9.78% in August

New Delhi: Just a couple of days ahead of the Indian central banking system's monetary policy, finance minister Pranab Mukherjee on Wednesday said the government and the Reserve Bank of India (RBI) together will be able to tackle soaring inflation, which he attributed to global price pressures, reports PTI.

"It (inflation) is perilously close to double digit...

Reserve Bank of India (RBI) is also watching the situation like the government and collectively it would be possible for us to tackle the problem," Mr Mukherjee told reporters here.

His comments came as headline inflation soared to 9.78% in August, from 9.22% in the previous month, because of rising prices of food and manufactured items.

Mr Mukherjee attributed the rise in the rate of prices to global factors and said the increase was on expected lines.

"Of course, in the overall environment, all over world it was expected that inflationary pressure would rise in all groups including manufacturing (segment)," he said.

"This is time of stress not only in India but all over world and we shall have to maintain our nerves and we shall have to see how we can overcome the problem," he added.

RBI is scheduled to announce its mid-quarterly monetary policy review on 16th September. It is facing a tough situation of managing high inflation co-existing with moderation in economic growth.

Industrial production fell to a 21-month low of 3.3% in July. The country's gross domestic product (GDP) growth also slipped to 18-month low of 7.7% in April-June period.

The RBI has hiked rates 11 times since March 2010 to tame inflation. However, India Inc has said that the rising cost of credit has slowed down investment, thereby hurting growth.

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