Dewan Housing Finance’s new rate will be effective for its customers from 20th May
Two financial institutions Dewan Housing Finance Corporation Ltd (DHFL) and Srei BNP Paribas raised their lending rates by 50 basis points each inline with the market trend.
DHFL’s new rate will be effective for its customers from 20th May. The company’s loan portfolio stood at Rs14,111.27 crore as on 31 March 2011 against Rs8,758.40 crore in the corresponding previous year.
Meanwhile, infrastructure and construction equipment financing company Srei BNP Paribas hiked in its benchmark rate by 50 basis points, from 15.5% to 16% with immediate effect.
After reviewing the trend of rising interest rates, it has been decided to increase its benchmark rate in line with the upward moving interest rates in the domestic market, Srei BNP Paribas said in a statement.
SBI Mutual Fund new issue closes on 31st May
SBI Mutual Fund has launched SBI Debt Fund Series-36 Months-1, 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 closes on 31st May. CRISIL Short Term Bond Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.
Religare Mutual Fund new issue closes on 25th May
Religare Mutual Fund has launched Religare Fixed Maturity Plan-Series VII-Plan A to F-Plan E (180 Days), a close-ended income scheme.
The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme.
The new issue closes on 25th May. The minimum investment amount is Rs5,000.
CRISIL Short-Term Bond Fund Index is the benchmark index. Nitish Sikand is the fund manger for the scheme.