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India Infoline Finance gets PFRDA approval to act as NPS aggregator

The PFRDA approval will enable IIFL Finance to distribute pension products under PFRDA NPS - LITE primarily targeting marginal investors and promote small savings among the public investors through its various branches and offices.

India Infoline Finance (IIFL Finance) received registration from Pension Fund Regulatory and Development Authority (PFRDA) to act as ‘Aggregator’ under National Pension System (NPS).

This will enable IIFL Finance to distribute pension products under PFRDA NPS - LITE primarily targeting marginal investors and promote small savings among the public investors through its various branches and offices.

R Venkataraman, director, IIFL Finance said, “IIFL’s strong distribution network and a large retail client base will help in distributing these pension products to the vast public in an efficient manner and provide continuous support services in this growing segment.”

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FT India equity income fund declares tax-free dividend

Franklin Templeton Mutual Fund said that it has declared a tax-free dividend of Re0.70 per unit on the face value of Rs10 on its Templeton India Equity Income Fund.

Franklin Templeton Mutual Fund said that it has declared a tax-free dividend of Re0.70 per unit on the face value of Rs10 on its Templeton India Equity Income Fund. The Fund is an open end equity fund.

The record date for the dividend distribution has been fixed on 16 March 2012 and any purchases on or before this date will be eligible for the dividend.

The investment objective of the Fund is to provide a combination of regular income and long-term capital appreciation by investing primarily in stocks that have a current or potentially attractive dividend yield.

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