Muthoot Finance Ltd, which claims to be the largest gold finance NBFC in India, today said it will now offer loans against Gold ETF (Exchange Traded Funds) units as security. Launching the service, Muthoot Finance Ltd Managing Director George Alexander Muthoot told reporters here that loans against gold ETF units was a scheme through which Muthoot Finance plans to venture into a totally new segment of gold financing, which would not only add value, but also enable the company to service the financial requirements of newer customer segments.
News Source – ECONOMIC TIMES.
NEW FUND LAUNCH
Birla Sun Life Mutual Fund has announced the New Fund Offer (NFO Birla Sun Life Fixed Term Plan – Series DF, a close ended income scheme. The NFO opens for subscription on July 18, 2011 and closes on July 28, 2011. The duration of the scheme will be 368 days from the date of allotment of units. No entry and exit load is applicable.
News Source – LIVE MINT.