India Infoline Finance gets PFRDA approval to act as NPS aggregator

The PFRDA approval will enable IIFL Finance to distribute pension products under PFRDA NPS - LITE primarily targeting marginal investors and promote small savings among the public investors through its various branches and offices.

India Infoline Finance (IIFL Finance) received registration from Pension Fund Regulatory and Development Authority (PFRDA) to act as ‘Aggregator’ under National Pension System (NPS).

This will enable IIFL Finance to distribute pension products under PFRDA NPS - LITE primarily targeting marginal investors and promote small savings among the public investors through its various branches and offices.

R Venkataraman, director, IIFL Finance said, “IIFL’s strong distribution network and a large retail client base will help in distributing these pension products to the vast public in an efficient manner and provide continuous support services in this growing segment.”

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FT India equity income fund declares tax-free dividend

Franklin Templeton Mutual Fund said that it has declared a tax-free dividend of Re0.70 per unit on the face value of Rs10 on its Templeton India Equity Income Fund.

Franklin Templeton Mutual Fund said that it has declared a tax-free dividend of Re0.70 per unit on the face value of Rs10 on its Templeton India Equity Income Fund. The Fund is an open end equity fund.

The record date for the dividend distribution has been fixed on 16 March 2012 and any purchases on or before this date will be eligible for the dividend.

The investment objective of the Fund is to provide a combination of regular income and long-term capital appreciation by investing primarily in stocks that have a current or potentially attractive dividend yield.

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Funds mop-up via debt placements reaches Rs1.64 trillion: Report

‘The funds raised by all-India financial institutions and banks grew by 17% to Rs1,09,778 crore in the nine months of the fiscal year 2011-12’: Report

Indian companies have raised Rs1.64 trillion through private placement of debt securities or bonds in the first nine months of the current fiscal, primarily led by financial institutions, a report said. This marks an increase of 5% in the total size of such funds from the levels seen in the year-ago period. In debt private placements, the companies issue debt securities or bonds to institutional investors.

According to the data compiled by Prime Database, Indian firms mopped-up Rs1,64,444 crore through 125 debt private placements during April-December period of current fiscal, as against Rs1,56,856 crore mobilised in the year-ago period. The funds raised by all-India financial institutions and banks grew by 17% to Rs1,09,778 crore in the nine months of the fiscal year 2011-12.

At the same time, the funds raised by the private sector fell by 27% to Rs35,422 crore in this period.

Prime Database's Prithvi Haldea said that the fund mobilisation by PSUs, however, rose by 33% to Rs15,768 crore in the first nine months of current fiscal. The funds raised by state-level undertakings was lower, although. All the government organisations and financial institutions together have accounted for 78% of total funds raised during this year, up from 69% a year ago. In terms of sectors, financial services segment dominated the market with a 80% share of total funds, followed by power sector with 7% share.

The highest mobilisation through debt private placements during the period was by PFC (Rs 21,563 crore), followed by HDFC (Rs17,285 crore), REC (Rs15,966 crore), NABARD (Rs10,324 crore), IDFC (Rs7,751 crore), LIC Housing (Rs7,235 crore) PGCIL (Rs7,043 crore) and Air India (Rs5,500 crore).

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