Industry must recognise environmental concerns: PM

New Delhi: Prime minister Manmohan Singh today told the Indian industry to recognise that environmental concerns have come to stay although this has to be balanced with developmental needs, reports PTI.

A meeting of ministers for environment, coal, petroleum, surface transport and others would be shortly called to discuss issues of environment and development, he told a group of editors.

"Environmental concerns have come to stay. Our industry must recognise that. At the same time we cannot solve environmental problems by perpetuating poverty," Mr Singh said.

He refused to talk about specific projects like that of Vedanta bauxite mining in Orissa, which has been refused permission by the Union environment ministry.

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Government securities transaction up 18% in Q1

New Delhi: The total volume of government securities traded during the first quarter of this fiscal went up by almost 18% to Rs21,72,022 crore due to growth in securities transacted outright, especially dated papers, reports PTI.

During the last quarter of 2009-10, the total volume of government securities transacted was Rs18,41,227 crore, according to the data from the finance ministry.

"The increase in volume was largely on account of dated securities, which increased by 90% over the previous quarter," it said in a report on Public Debt Management.

Government securities are sovereign securities issued by the Reserve Bank of India (RBI) on behalf of the government of India's market borrowing programme.

Government securities transacted on an outright basis during the quarter saw a jump of 78.11% in volume during the first quarter at Rs10,35,556 crore, against Rs5,81,418 crore.

An outright contract involves direct purchase or sale of government security for the purpose of increasing or decreasing money supply.

Within this segment, dated securities witnessed the biggest growth in volume at 90.49%. They totalled Rs8,95,231 crore during the April-June period of this fiscal, as against Rs4,70,475 crore in the previous quarter.

Transaction of treasury bills accounted for Rs1,22,207 crore in Q1, up 33.48% over the figure of Rs91,554 crore in the last quarter of 2009-10.

The volume of state government securities, however, saw a decline of 6.56% during the quarter under review at Rs18,118 crore, from Rs19,389 crore in January-March period.

The other segment on government securities, repo transaction, also witnessed a downward trend during the first quarter of 2010-11.

Repo transaction, where a borrower in allowed to use a financial security as collateral for a cash loan at a fixed rate of interest, also saw a dip of nearly 10% in volume.

The total volume of government securities transacted as repo transaction went down to Rs11,36,466 crore in April-June, from Rs12,59,809 crore in the previous quarter.

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Personal finance Monday

Sundaram BNP Paribas MF floats Sundaram BNP Paribas Fixed Term Plan-AN; Fortis MF unveils Fortis Fixed Term Fund-Series 18D; Fidelity MF launches Fidelity Fixed Maturity Plan-Series III-Plan D; DSP BlackRock MF introduces dividend transfer plan

Sundaram BNP Paribas MF floats Sundaram BNP Paribas Fixed Term Plan-AN

Sundaram BNP Paribas Mutual Fund has launched Sundaram BNP Paribas Fixed Term Plan-AN, a close-ended debt scheme. The investment objective of the scheme is to generate income with minimum volatility by investing in debt and money market securities, which mature on or before the maturity of the scheme. The scheme opens on 6 September 2010 and closes on 7 September 2010. The exit load for the scheme is nil. The new fund offer (NFO) price is Rs10 per unit. Minimum investment amount is Rs5,000 crore. Minimum target amount is Rs1 crore. The scheme offers two options - growth and dividend (payout). The benchmark for the scheme is Crisil Short-Term Bond Fund Index.

Fortis MF unveils Fortis Fixed Term Fund-Series 18D

Fortis Mutual Fund has launched Fortis Fixed Term Fund-Series 18D, a close-ended debt scheme. Maturity date of the scheme is 370 days from the date of allotment of units. The investment objective of the scheme is to generate reasonable returns and reduce interest rate volatility by making investment in money market and short to mid term debt instruments having maturity, on or before the date of maturity of a plan. The issue opens on 6 September 2010 and closes on 14 September 2010. The exit load for the scheme is nil. The new fund offer (NFO) price is Rs10. Minimum investment amount is Rs5,000. Minimum target amount for the scheme is Rs50 lakh. The scheme offers two options - growth and dividend. The benchmark for the scheme is Crisil Short Term Bond Fund Index.

Fidelity MF launches Fidelity Fixed Maturity Plan-Series III-Plan D

Fidelity Mutual Fund has launched Fidelity Fixed Maturity Plan-Series III-Plan D, a close-ended debt scheme. The maturity of Plan D is 92 days from the date of allotment of the units. The investment objective of the scheme is to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short to mid term debt instruments having maturity, on or before the date of maturity of a plan. The scheme opens on 6 September 2010 and closes on 7 September 2010. The new fund offer (NFO) price is Rs10 per unit. Minimum investment amount is Rs5,000. The plan offers two options - growth and dividend. The benchmark for the Plan D is Crisil Liquid Fund Index.

DSP BlackRock MF introduces dividend transfer plan

DSP BlackRock Mutual Fund has introduced dividend transfer plan (DTP) - a facility wherein a unit holder can opt to invest the dividend declared by the source scheme into another scheme which is referred as target scheme. Dividend declared, if any, in fixed income/liquid schemes may be invested in schemes having exposure to equities. Dividends declared, if any, by equity schemes may be invested to fixed income schemes. Minimum amount of dividend eligible to be transferred under DTP is Rs500. If the dividend in the source scheme is less than Rs500, the dividend will be reinvested in the source scheme.

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