Religare Mutual Fund new issue closes on 23rd February
Religare Mutual Fund has launched Religare Fixed Maturity Plan-Series V-Plan A to F-Plan E (370 Days), a close-ended income scheme.
The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme.
The new issue closes on 23rd February. The minimum investment amount is Rs5,000.
Max New York Life College Plan is a guaranteed money back child plan to help parents create a corpus and meet the cost of higher education of their children
Max New York Life Insurance has launched Max New York Life College Plan, a guaranteed money back child plan to help parents create a corpus and meet the cost of higher education of their children. The plan ensures a guaranteed pay out when the child reaches 18 years of age. The plan also provides an assured amount every year till the child attains 21 years of age. Max New York Life College Plan ensures that the parents do not have to compromise on their child's career due to lack of funds.
Max New York Life College Plan provides an edge to its customers by helping them start planning from age 0 to 8 years of their child and provide risk free guaranteed returns from the age of 18 to 21, the college going years.
The Max New York Life College Plan provides guaranteed returns pegged at 120% of sum assured. The plan offers guaranteed money back aligned towards your child's college education. The plan ensures that the premium payment term is completed during the school days and money backs start at the age of 18, 19, 20 and 21 when it is needed the most for higher education. Not only are the payouts made in the college going years, the payouts are made in a manner which is reflective of the real experience of the customer. As the expenses are the highest during the first and the last year of college hence 40% of the Sum Assured in year 18 and 21 while in the middle years of 19 and 20-20% of the Sum Assured is given.
Guaranteed additional terminal bonus is paid if the policy has been in force for 10 years. The option of revisionary bonus ensures that the corpus is not used for other purposes during the tenure of the policy.
In case of unfortunate event of death of the payer, Max New York Life will continue to operate the policy until maturity of the policy. Max New York Life will fund all future premiums, on behalf of the life insured until policy maturity to boost the education fund thereby ensuring that the purpose for which the policy was originally purchased is accomplished.
Fiscal deficit in India's budget had ballooned to 6.8% of the gross domestic product (GDP) in 2009-10 and is pegged quite high at 5.5% for the current fiscal
Paris: Finance minister Pranab Mukherjee today indicated that Indian government will return to fiscal discipline in the coming budget, after following policies of stimulus and expansion in the last two years, reports PTI.
Talking to reporters on the sidelines of the Group of Twenty (G-20) finance ministers' meeting here, Mr Mukherjee said fiscal expansionary policies were required in the past, in the wake of global financial crisis.
With the growth returning to high trajectory, "We should come back to the path of fiscal consolidation. We are following that," he said.
Fiscal deficit in India's budget had ballooned to 6.8% of the gross domestic product (GDP) in 2009-10 and is pegged quite high at 5.5% for the current fiscal, as the government had to provide stimulus dose worth billions of dollars to the economy.
"When the financial crisis started, most of the countries resorted to expansion of financial space. As a result, the deficit in the budget increased substantially and it got reflected in the current account balance," he said.
Mr Mukherjee said stimulus package helped India to grow by 6.8% in 2008-09 and by 8% in 2009-10.
In fact, the process of fiscal consolidation began in the current year itself as the government partially withdrew the sops given to the industry in 2008 and 2009.
The expansionary policies to keep growth intact had their impact on the country's current account deficit, which represents the difference in inflows and outflows of foreign exchange, barring capital movements. It is projected to be at 3.5% in the current fiscal, against 2.9% in the previous financial year.
The current account deficit above 3% is considered to be a dampener for a national economy, according to experts.
Mr Mukherjee had set a target of 4.8% fiscal deficit for 2011-12. It is expected he would try and stick to this target in the coming budget.