IndusInd Bank launches ‘FastForex’–Forex trading platform

FastForex online system automates rate quotation and executes low value, low risk transactions which facilitates dealers to concentrate on deals

IndusInd Bank announces the launch of FastForex-Forex trading platform, which assists its corporate customers to know the forex prices on a real-time basis. This platform enables the Bank's corporate customers to reach the FX Treasury via Internet and a standard web browser, which in turn, helps the treasury to price, execute, confirm and manage FX transactions with the customers seamlessly.

This online system automates rate quotation and executes low value, low risk transactions which facilitates dealers to concentrate on deals. With the implementation of FastForex, corporates do not have to key in at the dealing room or the back office; suitable deal input validations can now be performed by the system at the client level. The possibilities of errors in entering details at multiple places reduce considerably, since the deals now flow in directly from FastForex to the front office system.

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ICICI Pru MF unveils Capital Protection Oriented Fund-Series V-60 Months

ICICI Pru MF new issue closes on 15th September

ICICI Prudential Mutual Fund has launched ICICI Prudential Capital Protection Oriented Fund-Series V-60 Months, a close-ended income scheme.

The investment objective of the scheme is to protect capital by investing a portion of the portfolio in good quality debt securities & money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The tenure of the scheme is 1,850 days.

The new issue closes on 15th September. The minimum investment amount is Rs5,000.

CRISIL MIP Blended Index is the benchmark index. Chaitanya Pande (debt portion) and Mrinal Singh (equity portion) are the fund managers.

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HDFC Mutual Fund introduces 92 days fixed maturity plan

HDFC Mutual Fund new issue closes on 12th September

HDFC Mutual Fund has launched HDFC FMP 92D September 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 92 days.

The new issue closes on 12th September. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Bharat Pareek and Miten Lathia (for overseas investments) are the fund managers.

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