Reliance Mutual Fund new issue closes on 29th March
Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XIX-Series 10, a close-ended income scheme.
The investment objective of the scheme is to seek 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 maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. The tenor of the scheme is 370 days.
The new issue closes on 29th March. The minimum investment amount is Rs5,000.
Amit Tripathi is the fund manager. Crisil Short Term Bond Fund Index is the benchmark index.
Fidelity Mutual Fund new issue closes on 28th March
Fidelity Mutual Fund has launched Fidelity Fixed Maturity Plan Series V-Plan F, a close-ended income scheme.
The investment objective of the scheme is to seek to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short to mid term debt instruments having maturity, on or before the date of maturity of a plan. The tenure of Plan F shall be 366 days.
The new issue closes on 28th March. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Shriram Ramanathan and Mahesh Chhabria (assistant fund manager) are the fund managers.
Standard Chartered Bank has launched its SME Banking World Debit Card, a cash management tool that provides convenience, savings and relationship rewards for small and medium enterprise customers
Standard Chartered Bank said that it has launched its SME Banking World Debit Card, a cash management tool that provides convenience, savings and relationship rewards for small and medium enterprise (SME) customers.
This debit card is available to all SME customers having a transactional account with the bank.
"The card is a feature of Standard Chartered's strengthened SME Banking offering launched last year," a press release stated.
The Standard Chartered SME Banking World Debit Card, designed to cater the specific needs of SMEs, has the feature of being a first-to-market proposition of enabling different limits for different cardholders, thus mitigating the risk due to multiple cards.
The other feature is that a debit card for each account signatory is now possible, thus enabling greater convenience and flexibility in transacting, the release said.
It also a high daily cash withdrawal and spending limit of up to a maximum of Rs5 lakh to support business spends, which the bank said is the highest in the market. The card also provides international access with global payments at over 30 million establishments and cash withdrawal from more than 1 million ATMs worldwide.
Card holders also get to enjoy complimentary privileges, including Kingfisher Airlines King Club membership, Accor Hotel offers, Hertz Club membership, MasterCard Moments (exclusive offers for spas, golf, wine clubs and tours) and a host of other local privileges pertaining to travel, stay, business solutions, communications and office support, which would be of utmost benefit to SME customers, the release said.
"The strengthened SME banking offering aims to seamlessly meet the evolving financial needs of India's fast growing SMEs and power their aspirations for growth in the Indian and international markets," Standard Chartered Bank SME Banking India general manager Rakesh Singh said.
Standard Chartered's strengthened SME Banking offering is based on customer-research and aims to provide a comprehensive suite of solutions to cater to the evolving needs of SMEs. It offers one-stop-banking solutions to enterprises and their owners by leveraging the strengths of the bank's consumer and wholesale banking businesses, the release said.