IRDA selects L&T Infotech for implementation of IT project

The duration of the project is six years, involving a total cost of Rs28.02 crore

The Insurance Regulatory and Development Authority (IRDA) said it has selected L&T Infotech for implementation of a project aimed at providing data and information for analysing insurance companies and regulatory decision making.

The duration of the project is six years, involving a total cost of Rs28.02 crore.
“Based on the detailed scrutiny ... L&T Infotech has been formally selected as an implementation agency for the implementation of business analytics project,” IRDA said in a notification.

With the implementation of the project, there would be a centraliased data storage and sharing across various functional departments within the IRDA.

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Tata Mutual Fund unveils 92 days fixed maturity plan

Tata Mutual Fund new issue closes on 5th May

Tata Mutual Fund has launched Tata Fixed Maturity Plan Series 33 Scheme A (92 days maturity), a close-ended income scheme.

The investment objective of the schemes is to generate income and/or capital appreciation by investing in wide range of debt and money market instruments having maturity in line with the maturity of the respective schemes. The maturity of all investments shall be equal to or less than the maturity of respective schemes. The tenor of the Scheme A is 92 days.

The new issue closes on 5th May. The minimum investment amount is Rs10,000.

Crisil Liquid Fund Index is the benchmark index. Murthy Nagarajan is the fund manager.

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Reliance Mutual Fund floats Fixed Horizon Fund-XIX-Series 4

Reliance Mutual Fund new issue closes on 5th May

Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XIX-Series 4, a close-ended income scheme.

The investment objective of the scheme is to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility.

The new issue closes on 5th May. The minimum investment amount is Rs5,000.

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