Fidelity International has announced the launch of its Fidelity Wealth Builder Fund, an open ended fund of funds scheme offering asset allocation options with three Plans, in the Indian market.
The investment objective of the fund is to generate reasonable returns based on the Plan selected with minimum and maximum asset allocation between debt and equity.
The company stated in a press release that the fund manager will use a two-tier investment approach i. e. asset allocation and fund selection to invest in Fidelity's funds.
Anil Dhirubhai Ambani Group company Reliance Capital, a major financial services provider, has finally secured an approval from the National Housing Bank (NHB) for setting up a housing finance company. 
Oriental Bank of Commerce (OBC), one of the leading PSU banks in India, has signed a memorandum of understanding (MOU) with India's leading car manufacturer Maruti Suzuki India Ltd. to publicize the loan scheme offered by Oriental Bank of Commerce.
Swiss banking major Credit Suisse has revealed that it has invested Rs 794 crore in its non-banking finance company (NBFC) named Credit Suisse Finance India. 
Public sector lender Punjab National Bank (PNB) has reduced their prime lending rate by 50 basis points, with effect from January 1.
Privates and foreign banks are likely to cut interest rates in the coming days. Public sector banks have already decided to reduce interest rates following decrease in key interest rates by the Reserve Bank of India. Personal and commercial loans would be available at lower rates after cutting lending rates by public and private banks. It is to be noted that reserve bank is taking many steps to inject more liquidity in the market. Recently, it has cut cash reserve ratio, SLR and Repo rate leading to injection of more than Rs 2,60,000 crore into the system.
