Lakshmi Vilas Bank has commenced three new services i.e. point of sales, depository participant services and application supported by blocked amount
Lakshmi Vilas Bank (LVB) has commenced three new services i.e. point of sales (PoS), depository participant (DP) services and application supported by blocked amount (ASBA).
Customer's can open the demat account without account opening charges & first year AMC free for all account's opened till 7 September 2011. They would be enjoying all the features offered under the depository services.
The introduction of ASBA facility will support DP operations and also strengthen the CASA portfolio. CASA account holders can avail this service to subscribe to public issues/rights issues through easy platform of balances available in CASA accounts with the Bank, to ensure that their funds yield interest until allotment of shares.
Under PoS, the Bank would be covering areas like PoS/CASA merchants, value added services like mobile recharge, institutional fee payment and support card issuance for additional onus revenue streams.
Investors, who have all Visa verified debit cards of all banks, Citibank debit cards or State Bank of India ATM cum debit cards, can invest online
DSP BlackRock Mutual Fund has introduced new features on its website. The company offers its online investors the option of investing with their debit cards. Investors, who have all Visa verified debit cards of all banks, Citibank debit cards or State Bank of India ATM cum debit cards, can invest online. They have the option for starting an SIP via the Internet.
Similarly investors can also opt for registering their STP & SWP through the online platform. Investors do not need to fill a form for dividend transfer plan. They have the option of opting for the dividend transfer plan online.
An investor who has opted for the "dividend pay-out" option can now change that to "dividend re-invest option" online
HDFC Mutual Fund new issue closes on 11th July
HDFC Mutual Fund has launched HDFC FMP 370D July 2011 (2), 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 370 days.
The new issue closes on 11th July. The minimum investment amount is Rs5,000.
Crisil Short Term Bond Fund Index is the benchmark index. Miten Lathia is the fund manager.