Life Insurance Corporation of India (LIC), the largest life insurance company in India, has entered into an agreement with state-owned Corporation Bank to launch credit cards in the country.
LIC intends to launch the business through its wholly owned subsidiary, LIC Cards Services Limited, which will manage all aspects of its credit card venture. The company already has taken approval from Government of India to form a wholly owned company for this purpose.
HSBC Mutual Fund, one of the premier asset management companies in India has launched ‘Fixed Term Series 68’, a close-ended income fund in the Indian market.
The face value of the fund is Rs 10 per unit and the new fund offer period (NFO) for subscription will be from 6 October to 13 October 2008.
The benchmark index of the scheme is Crisil Liquid Fund Index, which will mature in 3 months from the date of allotment.
Despite of tight liquidity conditions, Taurus Mutual Fund, one of the oldest mutual funds in the country has successfully collected over Rs 100 crore through its first one month Fixed Maturity Plan (FMP) issue.
The AMC claims that the issue managed to attract funds largely due to the relationship it has built with the investors. Taurus's FMP issue received good response between September 23 and 25.
UTI Mutual Fund is all set to open around 200 branches across the country by March, next fiscal.
The company aims to further expand its distribution network from 97 UTI Financial centers to 200 centers covering around 422 districts.
According to the company, it will open new UTI Financial Centre in Anantnag, Baramulla, Doda, Jammu, Kathua, Kupwara, Kargil, Ladakh, Poonch, Pulwama, Rajouri, Srinagar and Udhampur, to focus on service sector in Jammu and Kashmir.
Private sector insurer Aviva Life Insurance has launched ‘IndiaBond’, a single premium, endowment plan with guaranteed maturity benefits to provide prosperity and peace of mind to its policyholders.
The plan offers a compounded return of 7% per annum on maturity, depending upon the policy term and the Single Premium amount.
Life Insurance Corporation of India (LIC), the largest life insurance company in India, has entered into an agreement with state-owned Corporation Bank to launch credit cards in the country.
HSBC Mutual Fund, one of the premier asset management companies in India has launched ‘Fixed Term Series 68’, a close-ended income fund in the Indian market. 
Despite of tight liquidity conditions, Taurus Mutual Fund, one of the oldest mutual funds in the country has successfully collected over Rs 100 crore through its first one month Fixed Maturity Plan (FMP) issue.
UTI Mutual Fund is all set to open around 200 branches across the country by March, next fiscal. 
Private sector insurer Aviva Life Insurance has launched ‘IndiaBond’, a single premium, endowment plan with guaranteed maturity benefits to provide prosperity and peace of mind to its policyholders. 
