SBI Mutual Fund new issue closes on 24th May
SBI Mutual Fund has launched SBI SDFS-370 days-15, a close-ended income scheme. The tenor of the scheme is 370 days.
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 such as government securities, PSU & corporate bonds and money market instruments maturing on or before the maturity of the scheme.
The new issue closes on 24th May. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.
IDFC Mutual Fund new issue closes on 23rd May
IDFC Mutual Fund has launched IDFC Fixed Maturity Plan-200 Days Series 2, a close-ended income scheme.
The investment objective of the plan is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme. The tenor of the plan is 200 days.
The new issue closes on 23rd May. The minimum investment amount is Rs10,000.
Crisil Composite Bond Fund Index is the benchmark index. Anupam Joshi is the fund manager.
Reliance Money will offer money transfer services to customers across Tamil Nadu, Kerala, Karnataka and Goa through Muthoottu Mini Financier branches
Reliance Money Express, an Anil Ambani Group company, said it has entered a tie-up with Muthoottu Mini Financier for offering money transfer services to customers in South India.
Reliance Money Express has been offering international inward cross-border remittances and money transfer services in association with Western Union to retail customers across the country.
As part of the agreement, the company will offer money transfer services to customers across Tamil Nadu, Kerala, Karnataka and Goa through Muthoottu Mini Financier branches, Reliance Money Express said in a statement.
Muthoottu Mini Financier, a part of Mini Muthoottu Group, is amongst the leading NBFC in South India.
“South India enjoys a 50% share of the total money transfer business across India. We believe our partnership would help both companies capture the huge growth potential in the money transfer business in this region,” Reliance Money Express director Vikrant Gugnani said.
As part of the agreement, Mini Muthoottu would be using the Reliance Money Express created platform for receiving money from over 200 countries. This money would be then dispensed to authorised customers from over 400 Muthoottu Mini branches spread across the region.
“This partnership is also in line with our strategy to offer enhanced and diversified range of services to more customers across our branches and banking network,” Mini Muthoottu Group Chairman Roy M Mathew said.