ICICI Pru MF unveils one year fixed maturity plan; SBI Mutual Fund floats Magnum Income Fund–FRP–Saving Plus Bond Plan–Daily (D); Sundaram MF introduces 367 days plan; Tata Indicom launches remittance service through CellPayÒ

ICICI Pru MF unveils one year fixed maturity plan

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 53-One Year Plan D, a close-ended income scheme.

The investment objective of the Plan D is to generate regular returns by investing in fixed income securities/debt instruments which would mature on or before the date of maturity of the plan. The tenure of the plan is 371 days. The plan offers growth and dividend (payout) options.

The new issue opens on 9th December and closes on 16th December. Being listed on the stock exchange, no exit load will be applicable on the plan. The minimum investment amount is Rs5,000.

CRISIL Composite Bond Fund Index is the benchmark index. Chaitanya Pande will be the fund manager.

SBI Mutual Fund floats Magnum Income Fund–FRP–Saving Plus Bond Plan–Daily (D)
 
SBI Mutual Fund has launched SBI Magnum Income Fund–FRP–Saving Plus Bond Plan–Daily (D), an open-ended floating rate scheme.

The investment objective is to provide investors an opportunity to earn returns that would be higher than the returns offered by comparable investments in debt and money market securities.

The new issue opens on 9th December and closes on the same day. The minimum investment amount is Rs2,000.

Sundaram MF introduces 367 days plan

Sundaram Mutual Fund has launched Sundaram Fixed Term Plan–AS, a close-ended income scheme.

The investment objective is to generate income with minimum volatility by investing in debt and money market securities, which mature on or before the maturity of the plan. The plan offers growth and dividend (payout) options.

The new issue opens on 9th December and closes on 10th December. The minimum investment objective is Rs5,000. The tenor of the plan is 367 days.

CRISIL Short-Term Bond Fund Index is the benchmark index. Dwijendra Srivastava will be the fund manager.

Tata Indicom launches remittance service through CellPayÒ

Tata Indicom has tied up with eSSecom to offer CellPayÒ (direct debit to account) solutions. CellPayÒ will provide consumers a secure way to make their payments through their mobile phones using funds in their bank accounts (direct debit to account) or through credit card. This service is available for all Tata Indicom postpaid mobile subscribers across Karnataka.

The CellPayÒ solution is available for customers who are registered for mobile banking with CellPay connected banks. The registered customer has to create a unique PIN by calling the CellPay IVR. Once the number is generated, the caller is eligible to avail all the benefits. Customers using CellPayÒ service have two options to make payments. One, they can either use an SMS requesting for payment using their CellPayÒ virtual number wherein they will get a confirmation of the payment via SMS on their phone. Secondly, the customer can also opt for an application available on the handset to make the payment. Here, the customer has to simply select the CellPayÒ application on the phone as a payment option post which a confirmation SMS will be sent to the phone once the payment is received.