CIBIL’s membership base now crosses 500 which comprise over 200 cooperative banks
To expand its membership base and encompass cooperative banks in its fold, CIBIL- India's leading credit information company, today announced its association with four leading cooperative bank associations across Maharashtra. These include Kolhapur Zilla Nagari Banks Sahakari Association, Pune Zilla Nagari Sahakari Banks Association, Ahmednagar Zilla Nagari Banks Association and Satara Zilla Nagari Sahakari Banks Association.
With this development, CIBIL's membership base now exceeds 500 members, which includes over 200 cooperative banks. With information on over 200 million consumer trades and 7 million commercial trades, CIBIL is very well positioned to provide its members with world-class credit risk management tools. Within a short span of six years, CIBIL has grown into India's leading credit information company and has proven to be a reliable partner in risk management to its members.
At present, over 500 credit grantors across India are members of CIBIL. These include over 300 banks, 27 housing finance companies, 10 financial institutions, 2 credit card companies, 8 state financial corporations and 170 non banking financial companies (NBFCs).
Arun Thukral, managing director, CIBIL, said "We are honoured to be the chosen partner of these four cooperative bank associations and we are now working with them to assist them in implementing and utilising optimum benefits of credit information."
Members find it beneficial to use credit information in their lending decisions. This advantage helps them make faster and more reliable decisions across the customer lifecycle. Credit information sharing also benefits borrowers. Financially disciplined borrowers are able to avail credit faster and at better terms.
Servalakshmi Paper is engaged in the business of manufacturing printing & writing paper and newsprint
Servalakshmi Paper is entering the capital markets with an initial public offering (IPO) of 6000 lakh. The price band for the issue has been fixed at Rs27 at lower level and Rs29 at upper level.
Servalakshmi Paper is engaged in the business of manufacturing printing & writing paper and newsprint. The company's production unit situated at Kodaganallur village, Tirunelveli district, Tamil Nadu with total installed production capacity of 90,000MTPA. In printing and writing segment, they produce coated, uncoated, copier, cream wove, SS Maplitho, computer stationary and text/note book papers.
The issue opens on 27 April 2011 and closes for subscription on 29 April 2011. The equity shares of the issue are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).
Reliance Mutual Fund new issue closes on 19th April
Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XVIII-Series 9, 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 normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. The tenor of the scheme is 90 days.
The new issue closes on 19th April. The minimum investment amount is Rs5,000.
Crisil Short Term Bond Fund Index is the benchmark index. Amit Tripathi is the fund manager.