Personal finance Tuesday

MSI introduces F-series laptops in India; IDBI Federal launches Wealthsurance Milestone Plan; Cholamandalam launches e-policy; Tata MF introduces Tata Fixed Maturity Plan Series 27-Scheme B; IDBI Mutual Fund files offer document with SEBI to launch IDBI Monthly Income Plan; HDFC launches Dual Rate Product-4

MSI introduces F-series laptops in India

Taiwan-based laptop manufacturer Micro Star International (MSI) has introduced the F-series notebooks in India, equipped with the WiDi technology. The F-series price range is fixed between Rs37,000 and Rs53,000 depending on the model and configurations. The new line-up - FX400, FX600 and FR600 - is equipped with Intel Core i5 Processor, and with Intel Turbo Boost and Intel Hyper-Threading technologies, which adjusts processor efficiency on the go, greatly enhancing overall system performance. With the new F-series, featuring the country's first WiDi and powered by the Intel Core Processor family, one can sit back and enjoy favourite videos, photos and music on one's TV with great image clarity and amazing sound, wirelessly. MSI worked in collaboration with sound system designers Dynaudio and THX to design the F-series notebooks so that they would be both powerful and offer amazing sound. The company presently has three outlets in Bengaluru, Kochi and Jaipur.

IDBI Federal launches Wealthsurance Milestone Plan

IDBI Federal Life Insurance has launched a new unit-linked insurance plan (ULIP) called IDBI Federal Wealthsurance Milestone Plan. The plan offers a wide range of investment and insurance options. It comes with a wide range of 13 investment options and seven insurance benefits - all packaged with a low charge structure and flexibility. Wealthsurance Milestone Plan can be insured not only against risk of death but against 17 major diseases, hospitalisation, disability, accidental injuries etc. Conservative customers can choose guaranteed return options which offer fixed, assured returns. Those who can take more risk can opt for capital protected options where the entry net asset value (NAV) is guaranteed and returns depend upon the market. Customers who would like to get potential high returns of equity markets in the long term and understand the risk can opt for market linked equity options.

Cholamandalam launches e-policy

Cholamandalam MS General Insurance Ltd has launched an 'e-Policy' for its intermediaries, 'bancassurance' partners and customers. This initiative will enable the middlemen to see the list of all the policies generated online. This is a real-time system and can be accessed anytime, anywhere with secured password controls. The policy would be available in all the 113 branches of the company in the country. e-Policy aims to offer convenience and speed to Cholamandalam's intermediaries and bancassurance partners. It will shrink the policy issuance turnaround time. Cholamandalam offers a wide range of products that include accident, engineering, health, liability, marine, motor, property, travel and rural insurance for individuals and corporate.

Tata MF introduces Tata Fixed Maturity Plan Series 27-Scheme B

Tata Mutual Fund has introduced Tata Fixed Maturity Plan Series 27-Scheme B, a close-ended debt scheme. The investment objective of the scheme is to generate income and/or capital appreciation by investing in debt and money market instruments having maturity in line with the maturity of the scheme. The maturity of all investments shall be equal to or less than the maturity of the scheme. Maturity date of the Scheme B is 366 days from the date of allotment of units. The scheme has two options - growth and dividend (payout). The new fund offer (NFO) price is Rs10 per unit. The issue opens on 7th September and closes on 14 September 2010. The exit load for the scheme is nil. Minimum investment amount is Rs10,000. The benchmark index for the scheme is Crisil Short Term Bond Fund Index.

IDBI Mutual Fund files offer document with SEBI to launch IDBI Monthly Income Plan

IDBI Mutual Fund has filed offer document with the Securities and Exchange Board of India (SEBI) to launch IDBI Monthly Income Plan, an open ended income scheme. During the new fund offer (NFO) units will be available at Rs10. The investment objective of the scheme will be to provide regular income along with opportunities for capital appreciation through investments in debt, equity and money market instruments. The scheme has two options - growth and dividend. The benchmark for the scheme will be Crisil MIP Blended Index. An exit load of 1% will be applicable if units are redeemed within 12 months from the date of allotment. Minimum investment amount is Rs5,000. Minimum target amount is Rs1 crore.

HDFC launches Dual Rate Product-4

HDFC Ltd has introduced Dual Rate Home Loan-4 (DRHL-4). This offer is applicable to all new home loan customers who apply on or before 30
September 2010 and take at least part disbursement before 31 October
2010. Under this offer, home loans will be available at a fixed rate of 8.50% per annum up to 31 March 2011, 9.50% per annum for period between 1 April 2011 and 31 March 2012 and the applicable floating rate for the balance term. These rates are applicable for all new home loans irrespective of the loan amount.


Brokerage comes away impressed from a ‘Vibrant Gujarat’

Motilal Oswal's team visited CM Narendra Modi and the heads of a few apex industrial and infra bodies in Gujarat including Sardar Sarovar Narmada Nigam and the ambitious GIFT City. Here are their observations...

A team from leading Indian brokerage Motilal Oswal Securities Ltd (MOSL) which visited Gujarat recently for a first-hand study of the progress is impressed by the enormous growth in the state.

The MOSL team met with the senior managements of apex bodies like Gujarat Infrastructure Development Board, Gujarat Industrial Development Corporation and Gujarat Industrial Extension Bureau, and interacted with representatives of Sardar Sarovar Narmada Nigam and the ambitious GIFT City. The most important meeting was with chief minister Narendra Modi and the brokerage team has published a report that lists the significant advance Gujarat has made in several key areas.

The report, titled 'Vibrant Gujarat', notes that the state has one of the highest agricultural GDP growth rates of 9% in the country (the national average is 2%). It is one of the few states where the ground water level has actually increased over the last decade, driven by the state
government's efforts to interlink rivers.

The MOSL report pointed out that the state's leadership has succeeded in turning around fiscal management and from a deficit of Rs67 billion about a decade ago it now has a surplus of Rs5 billion. Even state electricity boards have started to show profits despite tariffs remaining unchanged in this period.

Some of Gujarat's village development schemes have been so successful that they are being emulated by other states, the report said. Among these are the tribal development model, the Jyotigram Yojana through which uninterrupted three-phase power has been made available across all 18,000 villages, the evening courts, and the Chiranjeevi project that is focused on reducing infant mortality.

The state has become a national hub for industries such as ceramics, power
generation equipment and petrochemicals, and it aims to become a hub for manufacturing solar power equipment too. It is also promoting shipbuilding.

The MOSL report says that Gujarat expects to benefit significantly from the interlinking of the Delhi-Mumbai industrial corridor.

(The Delhi-Mumbai Industrial Corridor. Source: MOSL report)

It expects "its special investment regions to promote large-scale development of industries in a cluster approach, optimising infrastructure and resources (such as disaster management and water treatment for chemical industries) and addressing issues like environment impact and quality of life."

Interestingly, Gujarat seems to be also the best in managing labour relations, which is indicated by the zero man-days lost. The second
best state stands at 13 man-days lost.

In education also, the chief minister's office gives some amazing figures. "In terms of women's education, Gujarat was one of the most backward states 10 years ago. Now it has 100% girl children enrollment and the dropout rate in primary schools has declined from 40% 10 years ago to 2% currently," the report says. The state has added 14 new universities over the past decade.

The MOSL team gathered some more notable facts during its meetings with senior management of Gujarat Infrastructure Development Board, Gujarat Industrial Development Corporation and Gujarat Industrial Extension Bureau. Take for instance the Blueprint for Investment in Gujarat 2020 (or BIG 2020) that envisages investment of around Rs12 trillion in 19 infrastructure sectors. The state has 5% of India's population but contributes 16% of the country's total industrial production, it accounts for 16% of industrial investment, 15% of exports and 30% of the country's total market capitalisation. The state expects to become power surplus by the end of this year.

Among the large investment regions in Gujarat are the Delhi-Mumbai Industrial Corridor, the Ahmedabad-Dholera Special Investment Region, a petroleum, chemicals and petrochemical investment region and the Gujarat International Finance Tech City (GIFT City).

The Sardar Sarovar Narmada Nigam project is set to become the biggest achievement. Already, it has helped Gujarat sustain 9-10% agriculture growth. "The dam across the Narmada River which is the largest in the world, will, when complete, create irrigation potential of 1.8 million hectare, or about 25% of the target under Bharat Nirman. The project has helped Gujarat create about a million jobs in rural areas, increase rural incomes and also helped in lowering the dropout rates in schools. The Rs700 billion project, expected to be complete in 2012, will have a 458-km main canal, 75,000 km of feeder canals and capacity to generate 1,450 MW of hydro power." The report does not comment on the environmental impact of the project which has been controversial.

MOSL also met with top representatives of the GIFT City project, which many believe could draw nearly half of the corporate offices (mainly financial companies) from Mumbai. "The Master Plan for the 62 million square feet (msf) project is complete. The initial phase of four msf is to be completed by 2012. The target segment is core financial services, IT/ITES for financial services, capital market and trading. IL&FS has signed up as the anchor tenant. Initial rentals are at Rs50-55 per square feet a month," MOSL says in the report.

(Gujarat International Finance Tech City (GIFT City), coming up near Ahmedabad, is only 12 km from Ahmedabad airport. Source: MOSL report)

GIFT City is located near Ahmedabad, on the left bank of the Sabarmati river, and is only 12 km from Ahmedabad airport. It will be connected to the airport by a metro service. It is a 50:50 partnership between Gujarat Urban Development Company and Infrastructure Leasing and Finance Services. While the government of Gujarat will develop the infrastructure outside the City and GIFT will provide inter-city infrastructure, commercial development will be left to end-users and real estate developers.



kishore ghiya

6 years ago

If we really feel we gujaratis are great pl read world news papares what they say about amit shah and genocide.Our gujarti newspapers are not reader firendly that much please allow me to write.Our improvemeent will come for ourselves when we gujarti rise for rights and fight corruption in our system nothing will improve and there will be more biased to please somebody articles by motilal oswal every day i get 30 un wanted msgs from thier brokerages houses and i cannot stop tham I wish both mr agarwal and oswal read this article and atleast stop sending sms and advice and tips which i do not want.
Kishoe ghiya rajkot


6 years ago

ek infocity sarakhi rite nota banavi shakya e GIFT shu banava na....!!! I wud love to go wrong in this matter though but not feeling confident on this... especially after visiting india or ahmedabad sometimes back.... GIFT is not yet started... and the BRTC final outcome is pathetic....


6 years ago

Kai nathi thavanu bhai - GIFT is nothing but show off and branding... look at the original plan and compare it with current progress... u will realize that these guys do not have that capacity, talent, guts and management to execute project like GIFT.... they are claiming it to be like shenghai, dubai and london... I wud like to ask them that ur plan is like all these at this moment... how about final product? and how much r u guys sure that they are not planning anything bigger than this? We wud keep talking and world will come up with better plan than this and execute and build...

on a separate note - just check our very hyped project BRTS project in ahmedabad??? just check the final product... it is having many f*** holes...



In Reply to aakash 6 years ago

Bhai ... USA mathi bolvu bov easy 6... at least they r trying to do something... not like you ... NIR bani nai ... F... h... bolewanu...
do work for them only u f... NIR .. u dont have any right to say anything about us

aditya jadeja

In Reply to aakash 6 years ago

I wonder how you find the BRTS of Ahmedabad pathetic when it has been applauded by various international organisations and has been termed the best BRTS system in India...

You can expect some potholes after such heavy rains..THIS HAPPENS IN USA AS dont bull crap us here...

If you think these guys dont have the capacity to make GIFT then I guess you will have to eat your own words in the near future...Kindly keep your negativity to yourself and dont worry abt India...It has enough ppl to make it happen...


6 years ago

As a resident of Tamilnadu I have no option but envy the lucky Gujaratis. Tamilnadu which had the distinction of most secrataries in central govt in the sixties are laggards now. For a comparative view I suggest MOSL to visit Tamilnadu present a statistics so that the comparison would reveal how a laggard has become a performer while the performer is turning a laggard.

kishore ghiya

6 years ago

As a gujarati from rajkot i read report of motilal oswal with critical mind. Motilal brokerage firm is oldest in gujarat , They know how business is acritic of presnt gujarat govt i also present following figures 1.implementing of rti act worst the ofice of SIC has only one post and backlog 3 years.Result all cooperative abnks and societies kep outside RTI act courtsey present govt. All charitable trust and ngos outside scope coutsey patronage of bureurocracy.Rampant land grabbing and no protection from home ministry.If your grandfather left a plot in rajkot or ahmedabd you had it it will be grabed and no justice.Present level of development is solely due to frugal and high saving rate and hard work due to average middle class gujarati.Gujarati is known for his hard work and result is he has succeded in any part of world.The amount of corruption in govt department you cannot imagine.We are backward in education. Gujarat has the highest level of illegal clinical trials going on in india thanks to gandhinagar closing the eyes.You must visit the CROs and learn what respect our pharmaceutical heads have towards human right.We do not have organisation like human right group or RTI act activist when you compare them with kerala or bengal.I wish motilal oswal team should have visited the sectors where we are laggards.The gujart state is conntrolled by a group of industrialist working in close with gandhinagar and that is the saddest part in my state.
I do not agree with motilal oswal report and am sorry if i have offended somebody with my views.
as a jain michami dukkadam to them.


Roopsingh Solanki

In Reply to kishore ghiya 6 years ago

As a Sourashtrian by roots but spend my childhood in Hindi belt and relations in bengal and Bihar-i know what is better in Gujrat and rest of india-my half life has been outside Gujrat and half i know well Gujrat was best managed 20 yrs back-but beurocrats coming from Hindi belt have made corruption a way of life here too which was well prevalent in those parts-earlier in Gujrat ST or city bus conductor used to pay back even 20 paisa -but now that honesty has gone away-but still Gujrat is far better then Hindi belt-whwre coruuption is way of life and beurocracy in hindi belt ses no barriers-present Gujrat govt is well controliing the non-gujrat beurocrats and IAS lobby-i am damn sure if Modi is gone every Gujrat MLA OR MP will dance and do Mujra in Dilli Durbar.

Narendra Doshi

6 years ago

GREAT . INCLUSIVE Action seems to be louder than words. Even if a few states COPY or do modified copy our Bharat can actually have a golden period for the world to see and then copy.

Kapil Patel

6 years ago

please go through it.

FDI inflows down 49% in July

New Delhi: Reflecting fragile recovery in world's major economies, foreign direct investment (FDI) into India dipped for the second consecutive month, by 49% to $1.78 billion in July against $3.51 billion in July 2009, reports PTI.

Contrary to smart recovery in the domestic economy and a rebound in exports, overseas investment show a slackening trend in the current fiscal, an official told PTI.

For the April-July period of 2010-11, FDI inflows declined by 27% to $7.59 billion compared to $10.53 billion in the same period last year, the official said.

According to experts, weak global economic recovery is one of the reasons for declining FDI in India.

"The main reason for the decline in FDI is slump in the major western economies like the US and Europe...," international trade expert with India's prestigious Indian Institute of Foreign Trade (IIFT) Rakesh Mohan Joshi said.

Crisil chief economist D K Joshi said: "Global economic recovery is still fragile and some impact of that would be reflected in our FDI."

Foreign investment in June 2010 was at $1.38, a dip of 46% over the year ago period.

The sectors which attracted foreign investment, included services, telecommunication, construction activities and computer software and hardware, the official said.

The country received maximum investment from countries like Mauritius, the US, the UK, Singapore, the Netherlands and Japan.

The government has recently floated discussion papers for public comments to liberalise FDI in multi-brand retail and defence sector.

The foreign investment remained low-key despite a recent United Nations Conference on Trade and Development (UNCTAD) survey showing that India would remain the second most important FDI destination for transnational corporations during 2010-2012, next only to China.

In its latest 'World Investment Prospects Survey 2010-2012', the UNCTAD said transnational corporations remain buoyant about investment prospects in China, India and Brazil.

FDI for 2009-10 at $25.88 billion was lower by 5% from $27.33 billion in the previous fiscal.


We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)