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ICICI Pru MF floats 367 days fixed maturity plan

ICICI Pru MF new issue closes on 12th September

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 59-1 Year Plan D, a close-ended income scheme.

The investment objective of the scheme is to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme. The tenure of the scheme is 367 days.

The new issue closes on 12th September. The minimum investment amount is Rs5,000. Crisil Short Term Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager.

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Federal Bank, Oriental Insurance launch Pravasi Insurance scheme

Pravasi Insurance mainly covers hospitalisation expenses of NRI customers by providing cashless treatment facility at more than 3,000 hospitals pan India

Kerala-based Federal Bank in association with Oriental Insurance Company has launched a unique insurance scheme for its new NRI customers, named Fed Oriental Pravasi Insurance.

The insurance mainly covers hospitalisation expenses of NRI customers by providing cashless treatment facility at more than 3,000 hospitals pan India and also for unforeseen eventualities like repatriation, accidents, the bank said in a press release. All new NRI customers, who maintain a minimum balance of Rs5,000 or more are eligible for the insurance coverage. Medical floater cover for family is available in the event of death or disability of the insured for Rs10 lakh. Economy class airfare for a dependent or bystander in case of accident/airlifting along with that of the patient is also available. Overseas treatment in recognised hospitals for an amount up to 75,000 per annum is also offered under the scheme.

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