Hughes Communications India signs contracts with United Bank of India and UCO Bank
Hughes Communications India Ltd, a provider of broadband satellite and managed network services, said it has signed two contracts to provide service to regional rural banks.
The first contract award is from United Bank of India valued at Rs8 crore, under which Hughes will provide broadband services connecting 1,095 regional rural bank locations. The second contract, valued at Rs7.5 crore, was awarded by the UCO Bank to deploy a network of 808 satellite terminals for regional rural bank connectivity.
The UCO bank agreement is signed for seven years and the United Bank of India agreement will span for five years.
IDFC Mutual Fund new issue closes on 14th February
IDFC Mutual Fund has launched IDFC Fixed Maturity Plan-Sixteen Months Series 3, a close-ended income scheme. The duration of the scheme is 16 months.
The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing before the maturity of the scheme.
The new issue opens on 4th February and closes on 14th February. The minimum investment amount is Rs10,000.
ICICI Prudential MF new issue closes on 14th February
ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan- Series 55-15 Months Plan A, a close-ended income scheme.
The investment objective of the Plan is to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme. The tenure of the plan is 456 days.
The new issue closes on 14th February. The minimum investment amount is Rs5,000.