Social media users on phones to exceed PC users: Nielsen

According to the study, more Indians log on to social media sites, they also engage with brands online

In its recent study conducted by Nielsen, a global information and media company, highlighted that the number of social media users on mobile phones in India is expected to exceed those accessing similar sites on personal computers (PCs) in the coming year.

According to the study, more Indians log on to social media sites, they also engage with brands online. The report states that brand engagement is also influential in the buying process. Of the 39% of consumers who consider a recommendation for a product on a social networking site when making a purchase decision, three out of four will often purchase the products based on the review.

On a scale of one to 10, where a level of 10 is the most engaged, the Nielsen Engagement Index shows that all brands cluster around a score of seven—regardless of whether a fan page has one or 4.5 million fans. One in six respondents wants brands to share updates with him on new products and services. 53% want announcements on sales or discounts and 50% want to hear about the latest industry trends. 48% consumers also want brands to provide tips and tricks about how to maintain and use products/services.

The facts from the study were discussed at the session, "More Indian Consumers to Choose Mobile Over PC for Social Media BY 2012" that took place at the 2011 edition of Nielsen's annual conference, "Consumer 360 India," at The Grand, Delhi.

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Franklin Templeton MF launches Corporate Bond Opportunities Fund

Franklin Templeton MF new issue closes on 29th November

Franklin Templeton Mutual Fund has launched Templeton India Corporate Bond Opportunities Fund, an open-ended income scheme.

The investment objective of the scheme seeks to provide regular income and capital appreciation through a focus on corporate securities. The new issue closes on 29th November and reopens on 8 December 2011. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Umesh Sharma and Sachin Padwal-Desai are the fund managers.

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SBI, MoneyGram tie up to provide cash remittances facility

According to the SBI, cash remittances facility will be provided in 100 branches of the banks in Chennai and Mumbai

State Bank of India (SBI) has tied-up with money transfer agency MoneyGram to provide in-bound cash remittances facility.

According to the SBI, the facility will be provided in 100 branches of the banks in Chennai and Mumbai. Under the facility, a non-resident Indian (NRI) can deposit money in any of the 0.25 million locations across the globe or online which can be availed by his relative in the 100 branches. SBI already has a tie-up with Western Union Money Transfer available across its network and is targeting to scale up MoneyGram to all of its 13,000 branches in two years.

To receive a money transfer, Indian nationals simply have to show a secure passcode of the transaction, along with a valid photo-identification and proof of residency. Per RBI guidelines, Indian nationals can draw up to Rs50,000 in cash immediately. Transactions above Rs50,000 are given in the form of a cheque. Foreign nationals can withdraw cash up to the equivalent of $2,500 after producing a valid passport and visa.

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