RBI reviews HTM norms for primary dealers
The Reserve Bank of India (RBI) has now allowed the standalone primary dealers (PDs) to categorise a portion of their government securities portfolio in the Held to Maturity (HTM) category, subject to certain conditions, beyond March 31, 2010. The earlier guidelines, which were issued in August 29, have been reviewed and it has been decided to permit the PDs to continue holding of government securities in HTM category until further advice, said RBI,
Flynn joins Religare Capital
Religare Enterprises has appointed Rob Flynn as chief executive officer of the Asia Region for its investment banking platform, Religare Capital Markets. Religare Capital Markets (RCML) is the investment banking platform of Religare Enterprises Ltd, a diversified financial services group.
ING Assured Returns launched
ING Life on Wednesday launched its new guaranteed return insurance product called ING Assured Returns, which provided policy holders a guaranteed return of 8.75%. This was the highest declared rate, inclusive of loyalty interest rates on the first year premium, in the life insurance industry so far,Uco Vegter, chief marketing & strategy officer, ING Life Insurance Company Ltd, said. The product offered several assured features, such as assured returns and security, Vegter said.
Taurus Fund renamed
Taurus Mutual Fund on Wednesday said it has changed the name of Taurus Income Fund to Taurus Short Term Income Fund. The changes are made in the investment objective, asset allocation pattern and benchmark index of the scheme. The proposed changes will take place with effect from April 9,2010, a statement issued by the company said.
Citizen SBI first phase over
Citizen SBI, a new initiative by the State bank of India, has completed first phase and next three phases will be over in about two years, said SBI chairman OP Bhatt at the Conscious Capitalism summit organised by CII and Conscious Capitalism Institute (CCI), in Mumbai on Wednesday.