Rajnath Singh refuses to pinpoint blame about 'rumours' on son

Rajnath Singh refuses to pinpoint blame about 'rumours' on son

There has been some reports of Rajnath Singh's son being ticked off by PM Narendra Modi...
New Flight MH 370 theory

New Flight MH 370 theory

Malaysia Airlines Flight MH370 may have turned south earlier than previously thought

KfW buys 30% stake in IIMPS

Jul 30 2013, 14:22 IST
Comments 0
SummaryInvest India Micro Pension Services (IIMPS), aggregator of regulated micro-pension and long-term micro-saving products for economically weaker section, today said Germany-based KfW has picked up 30 per cent stake in the company for $3.28 million (about Rs 19.2 crore)

Invest India Micro Pension Services (IIMPS), aggregator of regulated micro-pension and long-term micro-saving products for economically weaker section, today said Germany-based KfW has picked up 30 per cent stake in the company for $3.28 million (about Rs 19.2 crore).

Further, the Michael & Susan Dell Foundation has invested an additional $400,000 and increased its own shareholding in the company, IIMPS said in a statement.

ďThe equity investment from KfW and the Dell Family Foundation will help further strengthen financial literacy and client protection mechanisms,Ē said Gautam Bhardwaj, MD, IIMPS. Other institutional shareholders include UTI AMC and Self Employed Womenís Association (SEWA).

IIMPS collects money from low income individuals who save on an average Rs 200 per month towards for their old age. These savings are redistributed between two funds: the governmentís NPS-Lite Swavalamban and the

UTI Retirement Benefit Pension Fund.

Ads by Google

More from Business

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...