MFs add over 21,000 accounts in June
New Delhi: After losing investors for three consecutive months in a large-scale exodus,mutual funds seem to be gaining investors confidence again,as they managed to get over 21,000 new accounts last month. However,new investors seem to be coming in for debt schemes only and fund houses continued to lose investors in equity schemes for the fourth consecutive month in June,2010.
FIIs return to Street,inflow nears Rs 40K cr
Mumbai: Foreign investors are turning more bullish on the domestic markets,with their investments in equities already touching Rs 40,000 crore so far this year-nearly half the record amount infused by them in 2009. Foreign institutional investors (FIIs) are expected to pour in more money into the local markets in the coming weeks especially with improving economic conditions,according to analysts.
Indian Bank to raise Rs 500 cr from bonds
New Delhi: State-owned Indian Bank plans to raise Rs 500 crore through bonds after September to meet its current financial years credit growth target. We have just raised Rs 500 crore and another Rs 500 crore would be raised from bonds during the second half of the current fiscal to meet the credit growth target, said Indian Bank chairman and MD T M Bhasin. The fund raised would help the Chennai-based bank meet its credit growth target of 22 per cent for the current fiscal.
Economists see 25 bps RBI policy rate hike
New Delhi: With no sign of inflation moderating in the next few months,economists polled by the leading industry body Ficci expect a 0.25 per cent more hike in the policy rates by the Reserve Bank on July 27. A majority of economists feel the RBI would continue to move ahead on the path of monetary tightening and anticipate a hike of 25 basis points,each in the repo rate and reverse repo rate, Ficci said. The chamber said it had polled 14 economists of repute.
Reliance Life to hire 3,000 managers
New Delhi: As part of its expansion plan,Anil Ambani Groups life insurance venture Reliance Life will add 3,000 sales managers to its payroll this fiscal,besides hiring another 1.5 lakh insurance agents. We have already hired 2,000 sales managers in the first three months of 2010-11,and will add another 1,000 in the coming months, Reliance Life Insurance President and Executive Director Malay Ghosh said.
Jet international traffic up 31% in June
New Delhi: Jet Airways has flown 3.65 lakh passengers on its international routes in June,registering a 31 per cent rise over the year-ago period. During the same month,the airline recorded a seat occupancy of over 82 per cent in its international flights,according to figures released by the Director-General of Civil Aviation.