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Jasper Infotech to raise over $12 million from Nexus Venture Partners to fund expansion

Marketing solutions company, Jasper Infotech is raising around $12 million from Nexus Venture Partners, to fund its marketing campaign and overseas expansion.

Delhi-based Jasper Infotech owns group buying arm Snapdeal.com. It is also the holding company for Moneysaver, an outfit which offers co-branded discount cards and coupons on mobile phones.

A venture capital fund, Nexus Venture Partners has investments in companies across technology, media, consumer, business services, energy and agribusiness sectors.

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Personal finance Monday

Atom Technologies, Standard Chartered Bank and SBI launch micro banking customer service points, SBI Mutual Fund introduces daily dividend under Magnum Insta Cash Fund; Franklin Templeton MF files offer document with SEBI to launch Templeton India Corporate Bond Opportunities Fund; SBI MF unveils SBI Debt Fund Series-180 Days Fund-13; Central Bank starts door-step banking service

Atom Technologies, Standard Chartered Bank and SBI launch micro banking customer service points

Atom Technologies, Standard Chartered Bank and State Bank of India have launched micro banking customer service points in Kurla, Mumbai. They have also associated with NoMoreQueue to provide technology for movie ticket booking from your GPRS activated mobile.

Atom has launched mobile based financial inclusion services for State Bank of India. Unlike traditional capital intensive smart card led initiative this endeavour is based on mobile led solution that has done away with smart cards and enables the customer service points to transact and reconcile real time.

Atom has been the market leader in mobile led initiatives and has extended its expertise to financial inclusion domain as well. This initiative empowers the agents to conduct their business in the field cost efficaciously and also empowers them to conduct their other businesses as well. This is a regional language led initiative that leverages mobile penetration agnostically making it the most versatile and viable initiative in the field today.  

Atom uses mobile phone and handheld printer cum fingerprint device to conduct Micro banking transaction. Fingerprint scanner and printer are integrated into a single device and the mobile phone interfaces with the device over Bluetooth.

SBI Mutual Fund introduces daily dividend under Magnum InstaCash Fund

SBI Mutual Fund has introduced daily dividend option under the dividend option of Magnum Insta Cash Fund -Liquid Floater Plan.

The dividend declared under the daily dividend facility will be compulsorily reinvested. The dividend is also subject to availability of distributable surplus.

Magnum Insta Cash Fund-Liquid Floater Plan is an open-ended liquid fund which aims to mitigate interest rate risk and generate opportunities for regular income through a portfolio investing predominantly in floating rate securities and money market instruments.

Franklin Templeton MF files offer document with SEBI to launch Templeton India Corporate Bond Opportunities Fund

Franklin Templeton Mutual Fund has filed an offer document with the Securities and Exchange Board of India (SEBI) to launch Templeton India Corporate Bond Opportunities Fund, an open-ended income fund.

The investment objective of the scheme is to provide regular income and capital appreciation through a focus on corporate securities. The scheme would allocate up to 100% of assets in debt securities. It would also allocate up to 100% of assets in money-market instruments.

The scheme offers growth and dividend option. The exit load charge will be 4% if redeemed within 12 months from the date of allotment, 3% if redeemed after 12 months but within 18 months, 2% if redeemed after 18 months but within 24 months, 1% if redeemed after 24 months but within 30 months.

The minimum investment amount will be Rs5,000. The minimum target amount is Rs1 crore.

The scheme will be benchmark against CRISIL Short Term Bond Fund Index. It will be managed by Umesh Sharma and Sachin Padwal-Desi.

SBI MF unveils SBI Debt Fund Series-180 Days Fund-13

SBI Mutual Fund has launched SBI Debt Fund Series-180 Days Fund-13, a close-ended debt scheme with the duration of 180 days.

The investment objective of the scheme is to provide regular income, liquidity and return to the investors through investment in a portfolio comprising debt instruments. The scheme offers growth and dividend option. The exit load on the scheme will be nil.

The new issue opens for subscription on 1st December and closes on the same date. The minimum investment amount is Rs5,000. The minimum target amount is Rs1 crore.

The scheme will be benchmarked against CRISIL Liquid Fund Index. The scheme will be managed by Rajeev Radhakrishnan.

Central Bank starts door-step banking service

Central Bank of India has introduced door-step banking service. The scheme would allow the bank to collect from and deliver cash to customers at their doorsteps.

The Bank also plans to pick up instruments like cheques and drafts from the customers' residence or office at the time of pick-up or delivery of cash. The scheme will be initially available in Delhi and Mumbai and later on will be introduced in other cities.

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