HDFC Mutual Fund launches 370 days fixed maturity plan

HDFC Mutual Fund new issue closes on 8 November

HDFC Mutual Fund has launched HDFC FMP 370D November 2011 (1), a close-ended income scheme.

The investment objective of the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the respective plan(s). The tenure of the scheme is 370 days.

The new issue closes on 8 November. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Miten Lathia is the fund manager.

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COMMENTS

RANVIRSINGH YADAV

5 years ago

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Govt to unveil National Telecom Policy in January 2012

Under the draft policy, the telecom ministry is also looking to facilitate nation-wide free roaming, frame an exit policy for operators to surrender licences, give a push to indigenous manufacturing and promote an eco-system for development of a self-dependent telecom industry

New Delhi: The much-awaited National Telecom Policy-2011 will be unveiled in January next year, reports PTI quoting telecom minister Kapil Sibal.

The policy was earlier expected to be unveiled by December this year but delays in receiving recommendations have pushed the date to next year.

“The (draft) policy I have already announced as I had committed. Industry wants some more time to respond, we will give them time. All what will happen is finalisation of the policy will happen in January instead of December,” Mr Sibal said here at an event.
He added that the Telecom Regulatory Authority of India’s (TRAI) recommendations on the National Telecom Policy have just come in and the Department of Telecom (DoT) is looking into the same.

“The TRAI recommendations have just come, we will consider them, call Telecom Commission (meet)... move to Cabinet,” Mr Sibal said.

Mr Sibal said the media is confusing between TRAI’s recommendations and the Telecom Policy.

“People must understand the difference between policy and TRAI’s recommendation. The TRAI recommendations deal with the nitty-gritty of mergers and acquisition and all the other specific issues which never go in to policy,” Mr Sibal said.

The draft of the National Telecom Policy, 2011, was announced by Mr Sibal in early October with a major thrust on transparency, an improved investment climate and promotion of consumer interest.

Under the draft plan, the telecom ministry is also looking to facilitate nation-wide free roaming, frame an exit policy for operators to surrender licences, give a push to indigenous manufacturing and promote an eco-system for development of a self-dependent telecom industry.

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Petrol price hike to have some impact on inflation: FM

Oil companies yesterday raised petrol prices by Rs1.80 per litre, citing the impact of rupee depreciation on the cost of crude oil imports. The price hike comes at a time when inflation is touching double digits and the move could have a cascading effect on prices

New Delhi: Finance minister Pranab Mukherjee today said the latest hike in petrol prices will have some impact on inflation, which is currently hovering close to the double-digit mark, reports PTI.

“Of course it will have some adverse impact on inflation.

But the oil prices are going up and petrol is a decontrolled item,” he told reporters here.

Oil companies yesterday raised petrol prices by Rs1.80 per litre, citing the impact of rupee depreciation on the cost of crude oil imports. Following the increase, petrol in Delhi will cost Rs68.64 a litre.

On why the government’s allies were not kept in the loop about the price hike, Mr Mukherjee said, “Nobody in the government knows... because petrol prices are increased by the petroleum companies, not by the government. Diesel, kerosene and gas are controlled items.”

UPA partner Trinamool Congress has expressed unhappiness over the petrol price hike.

While the CPI (M) has demanded the immediate roll-back of the petrol price hike, the main Opposition party, the BJP, has termed it as ‘midnight deceit’.

The petrol price hike comes at a time when inflation is touching double digits and the move could have a cascading effect on prices.

Inflation in September stood at 9.72%, much above the Reserve Bank of India’s (RBI) comfort level of 5%-6%.

Petrol prices were freed from government control in June last year.

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