Alternative Investment
Shriram Transport Finance NCD priced at Rs1,000

The vehicle loan provider said proceeds from the NCD for its financing activities including lending and investments and also for repaying existing loans

 
Hyderabad: Shriram Transport Finance Co Ltd (STFC) said it entered into debt capital market with a public issue of secured non convertible debentures (NCD) of face value of Rs1,000 each, reports PTI.
 
It aggregates upto Rs300 crores with an option to retain over-subscription upto Rs300 crores for issuance of additonal NCDs aggregating to a total of upto Rs600 crore, company officials said on Thursday.
 
The issue will be open for subcription from today to 10th August with an option to close on such earlier date or extended date as may be decided at the discretion of the duly authorised committee of directors of the company subject to necessary approvals.
 
The NCDs under this issue have been rated 'CRISIL AA/Stable' by CRISIL for an amount of upto Rs600 crore and 'CARE AA+' by CARE for an amount of upto Rs600 crore.
 
The NCDs offered through the prospectus dated 16 July 2012 are proposed to be listed on the NSE and the BSE.
 
The funds raised through this issue, after meeting the expenditure of and related to the issue, will be used for STFC's various financing activities including lending and investments, for repaying existing loans and for business operations including capital expenditure and working capital requirements, officials said.
 

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DLF Pramerica Life launches `Income Rakshak' plan

Income Rakshak plan help customers meet their ongoing monthly responsibilities and expenses by providing them some additional income, the company said 

 
Mumbai: Private insurer DLF Pramerica Life Insurance (DPLI) launched a new plan that helps supplement a family's monthly income and also provides protection, reports PTI. 
 
“Our new product, Income Rakshak, helps supplement a family's monthly income and allows customers to protect the lifestyle of their families even when their income shows a decline that is in the retirement phase. This can help them meet their expenses and fulfil their responsibilities and wishes without dipping into savings,” DPLI managing director and CEO Pavan Dhamija said in a release. 
 
It is also a protection plan that helps to ensure that the customer's family has an additional income stream to meet the monthly expenses if the insured is no longer around to take care of them, he added. 
 
“Income Rakshak focuses on helping customers meet their ongoing monthly responsibilities and expenses by providing them some additional income,” Dhamija elaborated. 
 
At maturity of the policy, the chosen monthly income amount will be payable every month for a duration of 5 years (for policy term of 10 years), 7 years (for a policy term of 14 years) and 10 years (for a policy term of 20 years). Income Rakshak allows customers to choose the amount of monthly income as per the need, subject to a minimum of Rs1,000 for policy terms of 10, 14 or 20 years. 
 
 

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AEGON Religare Life launches online health plan

AEGON Religare said its iHealth Plan is a comprehensive health insurance plan that covers 849 surgeries and offers fixed-benefit with a smooth claim-settlement process

 
Mumbai: Private insurer AEGON Religare Life Insurance (ARLI) launched an online health plan -- iHealth -- targeted at the 'new age' customer, who prefers a direct and convenient process while buying any financial product, reports PTI.
 
“Our customer research showed us that key concerns among buyers of health insurance are - worries about getting the full claim amount, increase in premium in case of a claim and worries about coverage of all surgeries,” ARLI managing director and chief executive officer Rajiv Jamkhedkar told reporters.
 
Responding to the needs of customers ARLI has brought out the AEGON Religare iHealth Plan, a comprehensive health insurance plan that covers 849 surgeries, offering a fixed-benefit with a smooth claim-settlement process, he added.
 
The AEGON Religare iHealth Plan is targeted to the 'new age' customer, who prefers a direct and convenient process while buying any financial product, ARLI chief marketing officer Yateesh Srivastava said.
 
The Sum Assured under the Gold Plan is Rs3 lakh and Rs5 lakh for Platinum Plan.
 
Some of the important features of the policy are that it covers all possible surgeries with the exception of cosmetic surgeries, the customer is guaranteed the assured amount while cashless facility is offered in more than 3,000 hospitals across the country.
 

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