The minimum contribution for membership in the scheme is Rs300 a year
The Rubber Board has proposed to implement a group life insurance-cum-terminal benefit scheme in collaboration with LIC (Life Insurance Corporation of India) for tappers working in small holdings.
Members of the scheme are eligible for insurance cover (natural and accidental death), compensation for disability due to accidents, terminal benefits and scholarship for children studying in Class nine to 12, an official statement said.
The Board will be the nodal agency of the scheme and LIC will issue a single master policy to the nodal agency. The minimum contribution for membership in the scheme is Rs300 a year.
Birla Sun Life Mutual Fund new issue closes on 18th July
Birla Sun Life Mutual Fund has launched Birla Sun Life Nifty ETF, an open ended, index linked, exchange traded fund. The new issue closes on 18th July.
The investment objective of the scheme is to provide returns that closely correspond to the total returns of securities as represented by S&P CNX Nifty, subject to tracking errors. The scheme will allocate 95% to 100% of assets in securities comprising of underlying benchmark index with high risk profile. On the other side, it would allocate up to 5% of assets in debt and money market instruments with low to medium risk profile.
The minimum investment amount is Rs5,000. S&P CNX Nifty is the benchmark index for the scheme. Satyabrata Mohanty will be the fund manager.
SBI Mutual Fund new issue closes on 7th July
SBI Mutual Fund has launched SBI Debt Fund Series-90 Days-46, a close-ended income scheme.
The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments. The tenure of the scheme is 90 days.
The new issue closes on 7th July. The minimum investment amount is Rs5,000.
CRISIL Liquid Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.