Archive for September, 2008
New Pension Fund Scheme will be launched by PFRDA
The Pension Fund Regulatory and Development Authority (PFRDA) has come up with a pension fund scheme for all those employees who are working in unorganized sectors including retail, textile and mines. This pension fund is expected to be active in the next six months.
For this scheme, the PFRDA has already selected four companies namely Mercer, Ernst & Young, PricewaterhouseCoopers and Crisil, which will help in recruiting the institutional advisor.
$500 million investment will be made by Pepsico in India
Recently PepsiCo has found India to be a very good market for their business in near future. It is planning a USD 500 million investment over the next three years.
Indra Nooyi, Chairperson and CEO, PepsiCo said, “As a tangible sign of our continued confidence in India, I’m delighted to announce that we are expecting to [...]
ICICI Prudential SMART fund appealing retail investors
ICICI Prudential has launched a new product, ICICI Prudential SMART fund. NFO opened on August 18 which will be closed on September 19. Nilesh Shah, Deputy Managing Director of ICICI Prudential, revealed that SMART Fund will be placed among the retail investors also as it is not a kind of capital protected product. Though credit risk is involved in it, there will be no market risks. Debentures are formulated in such manner that when the Nifty index go down, they do not participate, having the principal amount back credited with some minimum assured returns.