Deregulation of diesel prices not possible: Reddy

New Delhi: Oil minister S Jaipal Reddy today ruled out deregulation of diesel prices, saying it is not politically and practically feasible, reports PTI.

"It is not possible, (right now)" Mr Reddy told reporters here.

"Let me make it clear, I agree in theory that diesel prices should be deregulated, but whether it is practically and politically feasible is totally different," he added.

Mr Reddy, who replaced Murli Deora as the new oil minister last week, had said that one of the major task at the nation's highest economic turnover ministry is clearly cut out-avoiding fuel price hikes.

While oil companies have been pressing for a hike in diesel and domestic LPG prices after global oil prices rose to $92 per barrel, he had said a balance would have to be stuck.

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Bajaj Allianz launches two new products

Bajaj Allianz Life Insurance has launched two new products-Bajaj Allianz Super Cash Gain and Bajaj Allianz Money Secure.

Super Cash Gain is a traditional money back plan that gives cash back at regular intervals in the form of a periodic income. Starting at a monthly premium of Rs600, this plan comes with the option to select up to four-times of base sum assured as life cover. Super Cash Gain also offers benefits such as-Option to convert into a single premium term cover with return of premium provided you have paid at least five years premium in full. Get 20% of the base sum assured as cash-back at regular intervals, which can be taken as cash or adjusted against your due or future premium. Flexibility to pay future premiums in advance and avail discounts. Option to keep your policy in-force for full sum assured in case you miss to pay your premiums on due dates, provided you have paid at least three year's premiums in full. High sum assured rebate on premium and optional riders to enhance your protection.

Money Secure is a regular premium ULIP that provides security to your investment with guaranteed maturity benefits. Starting at an annual premium of Rs7,000, Money Secure is the smallest ticket-size ULIP from the stable of Bajaj Allianz. The features of this product are: Automatic increase in sum assured from sixth policy year. Maximum Flexibility with: Partial withdrawals anytime after five years from the commencement of the policy.
Top-up premium payment over and above regular premiums. Option to decrease sum assured. Option to change premium payment term and alter premium payment frequency. Optional riders to enhance protection Both these plans can be bought from any of Bajaj Allianz office, agents and distributors.

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SBI Mutual Fund unveils SBI Debt Fund Series–15 Months–6

SBI Mutual Fund has launched SBI Debt Fund Series-15 Months-6, a close-ended income scheme.

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising debt instruments such as government securities, PSU & corporate bonds and money market instruments maturing on or before the maturity of the scheme.

The new issue opens on 27th January and closes 3rd February. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.

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