LIC MF launches schemeMUMBAI: LIC Mutual Fund has launched a five-year close-ended income scheme, Dhanavarsha (II), which is a flexible product designed to take care of the fluctuations in the market. The scheme has a lock-in period of one year and there is a matching guarantee by the asset management company for the assured returns for one year at a time. The income rates for the subsequent years will be declared at the beginning of each such year and this will take into account the earnings of the fund during the previous year. In the present situation the fund will be invested at higher rates than was intially envisaged and the benefit will be available to the investors, not only through the returns which are assured for the first year but also through the accretion to the funds which will be reflected in the net asset value.
Thomas Cook bags tourism award
MUMBAI: Thomas Cook (India) Ltd has won the prestigious National Tourism Award for outstanding performance in conference tourismfor 1996-97. The award was presented by Vice-President of India Krishna Kant to Sushil Bhatt, head of leisure travel-inbound.
TMI, IOL launch web magazine
MUMBAI: TMI Network and India On-Line (IOL) has launched a web-magazine -- www.winjobs.com -- for the resident Indian software professional. The monthly magazine is a joint venture between IOL and TMI Network, India's leading recruitment and recruitment advertising specialist. "The internet is expanding rapidly in India, but content-wise there was no site really meant for resident Indian professionals," said Prabir Chatterjee of IOL.
20th Century in 2-wheeler finance
MUMBAI: 20th Century Finance Corporation has decided to enter the two wheeler finance segment for motorcycles and scooters 100 cc and above. The new venture willl commence operations in February in the Southern region through their network of offices.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
