Montreal: India has invited Canadian and other global companies to participate in its booming aviation sector, which has investment opportunities worth $150 billion, reports PTI.
"Though India has achieved a lot of progress in this area in a short span of time, still we have a long way to go.
Scope for working together is immense as $150 billion worth of investment opportunities are available," civil aviation minister Praful Patel said at a meeting of top aviation players here yesterday.
He said both the Indian aviation industry and its foreign partners could grow hand in hand to become "partners in progress" in the spectacular growth story of the country's civil aviation sector.
Highlighting several growth indicators of the sector, Mr Patel stressed that global best practices must be adopted so that the country may be equipped to handle this kind of high growth and massive expansion.
The meeting, jointly organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the civil aviation ministry on the sidelines of the ongoing 37th assembly of UN-affiliate International Civil Aviation Organisation, was attended by a large number of leading figures of the global aviation fraternity.
It was also addressed by Giovanni Bisignani, Director General and CEO of the International Air Transport Association, Boeing India chief and chairman of FICCI civil aviation committee Dinesh Keskar and Indian high commissioner to Canada S M Gavai.
DSP BlackRock MF extends NFO closure period for DSP BlackRock FMP-3M-Series 21; Max Bupa launches Family First Health Insurance Plan to provide cover to extended families; HDFC Mutual Fund unveils HDFC FMP 100D September 2010 (4); Toyota Kirloskar Motor raises prices of three models
DSP BlackRock MF extends NFO closure period for DSP BlackRock FMP-3M-Series 21
DSP BlackRock Mutual Fund has extended the closing date for the new fund offer (NFO) of DSP BlackRock FMP-3M-Series 21, a close-ended income scheme to 6th October.
DSP BlackRock FMP-3M-Series 21 is a close-ended income scheme. The Scheme has a maturity of three months from the date of allotment. The investment objective of the Scheme is to seek capital appreciation by investing in debt and money-market securities. The Scheme will invest only in securities which mature on or before the date of maturity of the Scheme. The Scheme may also use fixed-income derivatives for hedging and portfolio balancing.
The Scheme offers two options-growth and dividend (payout). During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The minimum investment amount is Rs10,000. Dhawal Dalal is the fund manager. CRISIL Liquid Fund Index is the benchmark index.
Dhawal Dalal, senior vice president & head-fixed income, DSP BlackRock Investment Managers, says, "We hope to collect around Rs250 crore from the NFO."
Max Bupa launches Family First Health Insurance Plan to provide cover to extended families
Max Bupa Health Insurance has launched ‘Family First Health Insurance Plan’ under which customers can choose a cover for their extended families, in addition to their spouse and children.
Family First is a health plan designed keeping in mind the health insurance needs of the Indian joint families, where the customers can choose a cover for not just their spouse and children, but also for their extended families, including parents, grand-parents, in-laws and grand children. The plan provides flexibility for families to decide their optimal cover based on their needs. They can choose a sum insured per person (one amount chosen for all family members), as well as a floating amount for the entire family that can be utilised once the sum assured per person is consumed.
Max Bupa Health Insurance is a joint venture between Max India and the UK-based Bupa. While Max India holds 74% stake in the company, Bupa has 26% in the joint venture.
According to Dr Damien Marmion, Chief Executive, Max Bupa, the Family First policy offers its policyholders benefits such as any age enrolment, lifetime renewal and cover for expenses including in-patient treatment, pre- and post- hospitalisation along with access to health advice and health checkups. Under Family First the plan also includes maternity benefits wherein the policyholders can make up to two claims over the policy lifetime.
He adds, “Consumers can decide upon a sum insured per person (one amount chosen for all family members) as well as a floating amount for the entire family that can be utilised once the sum assured per person is consumed.” The Policy offers individual sum insured options ranging from Rs1 lakh to Rs5 lalh and family floater sum insured options ranging from Rs3 lakh to Rs15 lakh. And all members of the family covered under the plan do not necessarily have to be in the same location, so in cases where parents /parents in law/ grandparents or children are in different cities (across India) they can still be covered by the same policy.
HDFC Mutual Fund unveils HDFC FMP 100D September 2010 (4)
HDFC Mutual Fund has launched HDFC FMP 100D September 2010 (4) under HDFC Fixed Maturity Plans-Series XIV. The Scheme is a close-ended income scheme. The investment objective of the Plan under 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 Plan.
The Scheme will offer growth and dividend (payout) option. The Plan will have the maturity period of 100 days. The Plan will invest 60%-100% of assets in debt and money-market instruments and the remaining in government securities.
The Plan opens on 30th September and closes on 6th September. The exit load for the Plan is nil. During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The minimum investment amount is Rs5,000. CRISIL Liquid Fund Index is the benchmark index. Bharat Pareek and Anand Laddha are fund managers.
Toyota Kirloskar Motor raises prices of three models
The Indian unit of Toyota Kirloskar Motor will raise prices of three key models from 1st October. The models are Innova, Corolla Altis and Fortuner by up to 1.5%.
The company has not provided any reasons for the increase. The price rise will range from Rs10,000 to Rs17,000 for the Innova and Rs10,000 to Rs14,000 for the Corolla. The price of the Fortuner has been increased by about Rs29,000. Toyota produces the Corolla, Innova and Fortuner at a factory outside Bangalore. It also markets the imported Land Cruiser, Camry, Prado and Prius models.
New Delhi: The Supreme Court today set aside a Gujarat High Court order that prohibited banks from transferring debts, including non-performing assets (NPAs), to one another, reports PTI.
A three-judge bench headed by Chief Justice S H Kapadia held that the transfer of debts between banks is legal and the Banking Services Regulation Act allows this activity.
"There is nothing to prohibit under the banking regulation act... We set aside the judgement of the high court," the bench said.
The apex court judgement came in response to a clutch of petitions filed by major banks, including ICICI Bank, Kotak Mahindra Bank and StanChart, challenging the Gujarat High Court judgement.
The case relates to the transfer of a basket of NPAs by ICICI Bank to Kotak Mahindra Bank along with underlying security interest.
One of the borrowers, APS Star Industries, objected to the transfer and the matter landed in court.
A division bench of the Gujarat High Court held that the Banking Regulation Act did not allow for trading in debt.
Had it not been overturned, the high court judgement would have serious implications for the nascent securitisation business, which relates to buying of a pool of debts by one bank from another and trading in them.