
Birla MF launches unique savings plan
The plans works in a manner which will identify the investor8217;s savings needs through a software provided by the mutual fund. After identifying the needs, the employee can earmark a certain amount, a minimum of Rs 1,000 and multiples thereof, which would be directly invested into the existing schemes and future schemes of the mutual fund. The investor will have total control on which schemes he wants his money to be put into, according to the investment needs and the risk profile.
Baan not to shut down Indian base
MUMBAI: Leading vendor of enterprise resource planning ERP software Baan Company has decided not to shut down its research and development centre in India despite a massive restructuring exercise in which 10 other Ramp;D centres worldwide discontinued operations. Following this, Baan India Ramp;D operations would account for 40 per cent of the company8217;s series of ERP software, Thomas N Erickson, general manager, Asia Pacific said.
Addressing aconference on Tuesday, he said there was no layoff at Baan india as it was a major growth engines for the company. The restructuring exercise had led to rightsizing the number of employees from over 5,000 to around 4,000. D Bharath, CEO of Baan Infosystems India, said the company had won a major order from Usha Martin.
In the first phase, the firm will go live with 100 users and move to another 100 by year-end with the rollout extending to its factories in Thailand and South Africa. quot;The deal is a large order for the Indian market where the average size of installation is only 50 licences. The installation will also be the first in the country to involve overseas implementation as well,quot; he added.