ICICI Pru MF new issue closes on 4th November
ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 57-3 Year Plan C, a close-ended income scheme.
The investment objective of the scheme 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 scheme is three years.
The new issue closes on 4th November. The minimum investment amount is Rs5,000.
CRISIL Composite Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager.
Birla Sun Life MF new issue closes on 31st October
Birla Sun Life Mutual Fund has launched Birla Sun Life Fixed Term Plan-Series DR, 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 31st October. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Kaustubh Gupta is the fund manager.
“I do hope that decision of RBI to enhance the repo rate and reverse repo rate by 25 basis points (bps) would have its impact on inflation. Of course, it would have some impact on growth also,” Mr Mukherjee told reporters
New Delhi: , Oct 25 (PTI) Finance minister Pranab Mukherjee today said the Reserve Bank of India’s (RBI) latest round of rate hike, which is aimed at curbing price rise, will also have some impact on economic growth, reports PTI.
“I do hope that decision of RBI to enhance the repo rate and reverse repo rate by 25 basis points (bps) would have its impact on inflation. Of course, it would have some impact on growth also,” Mr Mukherjee told reporters here.
In its policy review meeting today, the RBI hiked interest rates by 25 bps. The short-term lending (repo) and borrowing (reverse-repo) rates now stand at 8.5% and 7.5%, respectively.
The RBI has also lowered its gross domestic product (GDP) forecast for the fiscal to 7.6%, from its earlier projection of 8%.
Later in a statement, Mr Mukherjee said RBI’s policy “would help in getting us back to a more comfortable inflation situation soon while leaving scope for growth to pick up in the second half of current fiscal year”.
He said the decision has been taken by RBI to affirm its commitment to tackle inflation as the headline inflation is still high.
The headline inflation has remained above the 9% mark since December 2010. In September it was 9.72%.
With today's hike, the RBI has raised its key policy rate 13 times since March 2010 to control inflation.
This is turn is getting reflected in industrial production figures as funds are getting costlier. Industrial production grew by 5.6 in the April-August period, as against 8.7% in the corresponding period a year ago.
Mr Mukherjee said the rate hike would have its implications on credit costs and investment growth. “We are looking at all options for strengthening investment sentiments in the coming months,” he added.