DOCSLIB.ORG

Statement of Additional Information

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Statement of Additional Information Statement of Additional Information NAME OF MUTUAL FUND Reliance Mutual Fund (RMF) NAME OF ASSET MANAGEMENT COMPANY Reliance Nippon Life Asset Management Limited (RNAM) (formerly Reliance Capital Asset Management Limited) CIN : U65910MH1995PLC220793 NAME OF TRUSTEE COMPANY Reliance Capital Trustee Co. Limited (RCTC) CIN : U65910MH1995PLC220528 Registered Office (RMF, RNAM, RCTC) Reliance Centre, 7th Floor South Wing, Off Western Express Highway, Santacruz (East), Mumbai - 400 055. Tel No. - 022- 33031000; Fax No. - 022- 33037662 Website : www.reliancemutual.com SPONSORS Reliance Capital Limited & Nippon Life Insurance Company For a free copy of the current Statement of Additional Information, please contact your nearest Investor Service Centre or log on to our website. Customer Care : 022-3030 1111 Toll free: 1800-300-11111 Email: [email protected] Website: www.reliancemutual.com Table of content Content Page No. I DEFINITIONS & ABBREVIATIONS 1 II INFORMATION ABOUT SPONSOR, AMC AND TRUSTEE COMPANIES 3 A. Constitution of the Mutual Fund 3 B. Sponsor 3 C. The Trustee 3 D. Asset Management Company 7 E. Service providers 22 F. Condensed financial information (CFI) 22 III HOW TO APPLY? 57 IV RIGHTS OF UNITHOLDERS OF THE SCHEME 75 V INVESTMENT VALUATION NORMS FOR SECURITIES AND OTHER ASSETS 75 VI TAX & LEGAL & GENERAL INFORMATION 84 This Statement of Additional Information contains details of Reliance Mutual Fund, its constitution and certain tax, legal and general information. It is incorporated by reference and is a part of Scheme Information Document of all the Schemes of Reliance Mutual Fund. This Statement of Additional Information is dated August 24, 2017. I. DEFINITIONS & ABBREVIATIONS Word/Abbreviation Definition/Expansion AMC AMC means Asset Management Company, formed and registered under the Companies Act, 1956 and approved as such by the SEBI under sub-regulation (2) of regulation 21. AMFI Association of Mutual Funds in India, the apex body of all the registered AMCs incorporated on August 22, 1995 as a non-profit organisation. ASBA ASBA means “Application Supported by Blocked Amount” as defined in clause (d) of sub - regulation (1) of regulation 2 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. Associate Associate means associate as defined under SEBI (Mutual Funds) Regulations, 1996 Business Day / Working A Business Day / Working Day means any day other than : Day 1. saturday or 2. sunday or 3. a day on which The Stock Exchange, Mumbai or National Stock Exchange Limited or Reserve Bank of India or Banks in Mumbai are closed or 4. a day on which there is no RBI clearing/settlement of securities or 5. a day on which the sale and/or redemption and /or switches of Units is suspended by the Trustees /AMC or 6. a book closure period as may be announced by the Trustees / Asset Management Company or 7. a day on which normal business could not be transacted due to storms, floods, bandhs, strikes or any other events as the AMC may specify from time to time. The AMC reserves the right to declare any day as a Business Day or otherwise at any or all DISC. Close ended scheme Close ended scheme means any Scheme in which the period of maturity of the scheme is specified. CKYC Central KYC Registry (CERSAI ) is a centralized repository of KYC records of customers in the financial sector with uniform KYC norms and inter-usability of the KYC records across the sector with an objective to reduce the burden of producing KYC documents and getting those verified every time when the customer creates a new relationship with a financial entity. SEBI has issued circular no. CIR/MIRSD/ 66 /2016 dated July 21, 2016 and no. CIR/MIRSD/120 /2016 dated Nov. 10, for uniform and smooth implementation of CKYC norms for onboarding of new investors in Mutul funds with effect from 1st Feb 2017 Custodian Custodian means a person who has been granted a certificate of registration to carry on the business of custodian of securities under the Securities and Exchange Board of India (Custodian of Securities) Regulations, 1996. Presently, Deutsche Bank A.G., registered vide registration number IN/CUS/003 and and Citibank N.A. registered vide registration number IN/CUS/004 are appointed as Custodian of securities for all the schemes of RMF. Depository Depository means a depository as defined in the Depositories Act, 1996 (22 of 1996) including Central Depository Services India Limited (CDSL) and National Securities Depository Limited (NSDL) Designated Investor Service Means any location as may be defined by the AMC from time to time, where investors can tender the request for Centers / DISC / Official subscription, redemption or switching of units, etc. Points of Acceptance DP Depository Participant means a person registered as such under sub regulation (1A) of section 12 of SEBI Act, 1992 (15 of 1992) FII / FPI FII means Foreign Institutional Investor as defined under Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995; Foreign Portfolio Investors (FPI) as defined in Regulation 2(1) (h) of Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014. IMA IMA means Investment Management Agreement dated May 12, 1995 executed between RMF, acting through their Trustee RCTC’ and RNAM and amended in accordance with SEBI (Mutual Funds) Regulations, 1996 ISIN International Security Identification Number. It is a unique security code that differentiates each and every script from all the other scripts. KIM Key Information Memorandum as required in terms of regulation 29(4) KYC Know Your Client means the procedure prescribed by the Board for identifying and verifying the Proof of Address, Proof of Identity and compliance with rules, regulations, guidelines and circulars issued by the Board or any other authority for Prevention of Money Laundering from time to time; KRA KYC Registration Agency (KRA)” is a company formed and registered under the Companies Act, 1956 and which has been granted a certificate of registration under these regulations which hereinafter shall be deemed to be an intermediary in terms of the provisions of the Act Load Load means a charge that may be levied as a percentage of NAV at the time of entry into the scheme/plans or at the time of exiting from the scheme/ plans NAV Net Asset Value of the Units in each plan of the Scheme is calculated in the manner provided in the respective SID or as may be prescribed by Regulations from time to time. The NAV will be computed upto four decimal places unless otherwise specified. 1 NFO NFO means New Fund Offer period during which a new Scheme sells its units to the investors. NRI Non – Resident Indian Open ended Scheme Means a Scheme which offers units for sale without specifying any duration for redemption. PIO Person of Indian Origin POA Power of Attorney POS Point of Service Prevention of Money Prevention of Money Laundering under Prevention of Money Laundering Act, 2002, Regulations, necessary Laundering (PML) directives issued by SEBI vide circulars from time to time, covering issues related to Know Your Client norms, Anti- Money Laundering, Client Due Diligence and Combating Financing of Terrorism including reporting guidelines / circulars issued by Financial Intelligence Unit – India, Association of Mutual Funds in India and Financial Action Task Force. RBI Means Reserve Bank of India, established under the Reserve Bank of India Act, 1934 RNAM Means Reliance Nippon Life Asset Management Limited (formerly Reliance Capital Asset Management Limited), a Public Limited Company incorporated under the Companies Act, 1956 on February 24, 1995, duly registered with SEBI and appointed as AMC for all schemes of Reliance Mutual Fund RCL Reliance Capital Limited, a company incorporated under Companies Act, 1956 that has established RMF. RCTC RCTC means Reliance Capital Trustee Co. Limited, who holds the property of the Mutual Fund in trust for the benefit of the unitholders. Registrar & Transfer Agent / Karvy Computershare (Private) Limited appointed as Registrars and Transfer Agent duly registered with the Registrar SEBI vide registration number INR000000221 acting as such for all the Schemes of RMF. Regulations SEBI (Mutual Funds) Regulations, 1996 including the Rules, Guidelines or Circulars issued in relation thereto from time to time. Regulatory Authority Regulatory authority means any authority or agency competent to issue or give any directions, instructions or guidelines to the Mutual Fund. SAI Means this Statement of Additional Information issued by RMF containing details of RMF, its constitution, and certain tax, legal and general information (SAI is to be read in conjunction with SID of the respective scheme) Scheme Means a Scheme launched by RMF under Chapter V of SEBI (Mutual Funds) Regulations, 1996 SCSB Self Certified Syndicate Bank has the same meaning as given to it in clause (zi) of sub regulation (1) of regulation 2 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. SCSB is a bank which is recognized as a bank capable of providing ASBA services to its customers. Names of such banks would appear in the list available on the website of SEBI (www.sebi.gov.in) SEBI Means Securities and Exchange Board of India established under the Securities and Exchange Board of India Act, 1992. Settlor Means Settlor of RMF. RCL a company incorporated under Companies Act, 1956 is the Settlor of RMF SID Means Scheme Information Document issued by RMF that sets forth the information
Load more

Recommended publications
  • Name of the AMC : IIFL ASSET MANAGEMENT LIMITED All Figures
    Name of the AMC : IIFL ASSET MANAGEMENT LIMITED All figures - Rs. in Lacs Sr. No. ARN Name of the ARN Holder Total Commission Total Expenses Total Commission + Gross Inflows Net Inflows Whether the Averge Assets under AUM as on Ratio of paid during paid during Expenses paid during distributor is an Management for FY 31-Mar-2019 AUM to FY 2018-19 FY 2018-19 FY 2018-19 associate or group 2018-19 Gross compnay of the Inflows sponsors of the Mutual Fund A B A+B 1 1 BNP Paribas - - - - - - - - 2 2 JM Financial Services Limited 0.01 - 0.01 3.73 3.73 1.52 4.01 1.08 3 5 HDFC Bank Limited - - - - - - - - 4 6 SKP Securities Limited - - - - - - - - 5 7 SPA Capital Services Limited - - - - - - - - 6 9 Way2Wealth Securities Private Limited - - - 2.52 2.52 1.92 2.61 1.04 7 10 Bajaj Capital Ltd. 6.44 - 6.44 540.91 540.29 479.55 564.07 1.04 8 11 SBICAP Securities Limited - - - - - - - - 9 14 Shubhangi Gopal Pai - - - - - - - - 10 16 Bluechip Corporate Investment Centre Ltd - - - - - - - - 11 17 Stock Holding Corporation of India Limited - - - - - - - - 12 18 Karvy Stock Broking Limited 12.23 - 12.23 1,435.72 981.98 915.16 1,022.93 0.71 13 19 Axis Bank Limited 0.08 - 0.08 10.03 10.03 6.43 10.42 1.04 14 20 ICICI Bank Limited 42.05 - 42.05 4,078.27 4,020.20 3,612.52 4,189.04 1.03 15 21 Tata Securities Limited - - - - - - - - 16 22 Hongkong & Shanghai Banking Corporation Ltd.
    [Show full text]
  • Ref. No. SE/ 2020-21/73 June 22, 2020 BSE Limited P. J
    HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED www.hdfc.com Ref. No. SE/ 2020-21/73 June 22, 2020 BSE Limited National Stock Exchange of India Limited P. J. Towers, Exchange Plaz.a, Plot No. C/1, Block G, Dalal Street, Bandra-Kurla Complex, Bandra (East) Mumbai 400 001 . Mumbai 400 051. Kind Attn: - Sr. General Manager Kind Attn: Head - Listlng DCS - Listing Department Dear Sirs, Sub: Copy of Notice published in newspapers -Notice of Postal Ballot dated June 19, 2020. Pursuant to provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith copies of newspaper clippings containing the notice published by the Corporation with regard to captioned subject. The said newspaper clippings are also available on website of the Corporation, www.hdfc.com This is for your information and record. Thank you, Yours faith fully, F r Housing Development Finance Corporation Limited Encl: a/a Corporate Office:HDFC House, HT Parekh Marg, 165-166, Backbay Reclamation, Churchgate, Mumbai 400 020. Tel.: 66316000, 22820282. Fax: 022-22046834, 22046758. Regd. Office: Ramon House, HT Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai 400 020. INDIA. Corporate Identity Number: L70100MH1977PLC019916 THE FREE PRESSJOURNAL 10 MUMBAI | MONDAY | JUNE 22, 2020 www. reepressjournal.in PUBLIC NOTICE SHIVOM INVESTMENT & CONSULTANCY LTD Hilton Metal Forging Limited NOTICE is hereby given to the General Public that We, M/s Accura 8, Shaniya Enclave, 4th Floor, V.P. Road, Vile Parle West, Regd Office: 701, Palm Spring, Link Road, Mumbai-400064 HDFC BANK Pharmaquip Pvt. Ltd., Intending to offer our property described here- Mumbai City, Maharashtra, 400056 http://www.hiltonmetal.com in below as a mortgage to HDFC Bank Ltd., Trade Star Building, We understand your world Email: [email protected], Website: www.shivominvestmentconsultancyltd.in Notice Andheri (E) Branch by way of security to secure the banking facility CIN: L74140MH1990PLC300881 HDFC Bank Limited granted to us by the said Bank.
    [Show full text]
  • ICICI Bank Strong Performance, Attractive Franchise
    ICICI Bank Strong performance, attractive franchise Powered by the Sharekhan 3R Research Philosophy Banks & Finance Sharekhan code: ICICIBANK Result Update Update Stock 3R MATRIX + = - Summary Right Sector (RS) ü ICICI Bank posted strong Q4FY2021 results with core operational performance coming higher than expectations, lower-than-expected slippages and sequentially improving Right Quality (RQ) ü asset quality are key positives. GNPA/NNPA ratio improved to 4.96%/1.14% (versus pro forma GNPA/NNPA of 5.42%/1.26% Right Valuation (RV) ü in Q3FY2021) and watchlist book declined; management commentary was positive and indicated strong growth in FY2022E. = - + Positive Neutral Negative The bank is available at 2.4x/2.1x its FY2022E/FY2023E BVPS. The stock has corrected by ~16% from its highs, and we believe valuations are attractive. What has changed in 3R MATRIX We maintain Buy rating on the stock with a revised SOTP-based PT of Rs. 800. Old New ICICI Bank posted strong Q4FY2021 results with core operational performance coming higher than expectations, lower-than-expected slippages, and sequentially improving asset quality RS being key positives. The quarter saw core operating performance above expectations with NII growth at 16.8% y-o-y, led by recovery in loan growth and NIMs improving by 17 bps q-o-q RQ to 3.84%. Strong traction in advances growth was seen with domestic loan growth posting 18% y-o-y growth. Going forward, as the bank looks to build on growth with a focus on a well- RV rated book, pickup in advances, and opex/credit cost will be key support and positives.
    [Show full text]
  • Non-Performing Assets: a Comparison of ICICI Bank and HDFC Bank
    Special Issue - 2017 International Journal of Engineering Research & Technology (IJERT) ISSN: 2278-0181 NCIETM - 2017 Conference Proceedings Non-Performing Assets: A Comparison of ICICI Bank and HDFC Bank Dr. Prerna Dawar*Ms. Pooja Sharma** *Dean & Professor Geeta Engineering College , Naultha , Panipat *Assistant Professor, SBD Group of Institutions , Kurukshetra Abstract - Banking in India originated in the last decade of the II. NON PERFORMING ASSETS (NPAs) 18th century. Private sector banks occupy a major part of NPA refers to loans that are in peril of default. The asset banking in India. Private sector banks have a very wide has been categorized as non-performing asset when the network of branches in rural and urban areas. But now a day borrower failed to make principle or interest payment they have diversified their activities to the emerged fields of within 90 days. It has always been a challenge for financial operations like merchant banking, leasing and venture capital etc. Due to increased level of competition private banks have institutions to manage their Non-performing assets because been lending aggressively to the customers which in turn of the dependency on interest payment. NPAs of financial increasing the proportion of Non-Performing Assets institutions increase due to pressure from economy as they (Henceforth, NPAs). Non-performing Asset has been an have to lent aggressively which in turn, reduces their important parameter to analyse of financial performance of capacity to capture all the assets completely. NPAs can be banks as it results in decreasing margin and higher divided into two main categories as follows: provisioning requirements for doubtful debts.
    [Show full text]
  • You Are Real Gold!
    Hay, you are real gold ! - Annual Report 2018-19 Achievements Pramod Chaudhari with Mr. Patrick Tay Teck Guan, Member of Parliament, West Coast GRC (Boon Lay), Singapore at the Award Ceremony held on 21st January 2019 at Singapore. Praj Industries Limited is recognized as “Asia’s Greatest Brand of 2018” and Pramod Chaudhari, Executive Chairman, Praj Industries as “Asia’s Greatest Leader of 2018” by URS media in collaboration with PricewaterhouseCoopers (pwc) who reviewed and validated the award process. US Based Biofuels Digest, a leading industry publication, announced Praj Industries as 8th in the list of Top 50 Hottest Companies in the Advanced Bioeconomy 2019 at a gala event on 4th April 2019 at Washington DC, USA. Hay, you are real gold ! Praj's process-technology solutions bring infinite possibilities to conserve the environment through sustainable decarbonization and address energy challenges by deploying nature's endless resources. Praj's endeavors of using agri-waste to produce bio-energy and renewable chemicals that are gaining increasing industry-wide acceptance, resonates well with development of eco-system for a sustainable circular bio-economy. This, well and truly epitomizes waste to wealth movement. Board of Directors From L to R Rajiv Maliwal, Mrunalini Joshi, Shishir Joshipura, Berjis Desai, Pramod Chaudhari, Daljit Mirchandani, Sivaramakrishnan Iyer, Parimal Chaudhari, Dr. Shridhar Shukla and Sachin Raole Table of Contents Company Chairman’s CEO & MD’s Praj at a Profile Message Note Glance 2 3 4 6 Directors’ Management
    [Show full text]
  • Capital Market Compendium
    January 2012 CRISIL Insights Capital Market Entities Redesigning Strategies: Will They Succeed? CRISIL Insights Analytical Contacts Name Designation Email id Pawan Agrawal Director [email protected] Nagarajan Narasimhan Director [email protected] Rupali Shanker Head [email protected] Suman Chowdhury Head [email protected] Manoj Damle Senior Manager [email protected] Prachi Gupta Senior Manager [email protected] Gourav Gupta Manager [email protected] Subhasri Narayanan Manager [email protected] Abhishek Sonthalia Rating Analyst [email protected] Shailesh Sawant Rating Analyst [email protected] Prashant Mane Executive [email protected] Sahil Utreja Executive [email protected] FOREWORD I am delighted to present this compendium of articles on the India’s capital market entities (CMEs), titled ‘Capital Market Entities Redesigning Strategies: Will They Succeed?’ This compendium is part of our initiatives to share with you, the insights we have gained from our ongoing analysis of key developments and sectors, over the years. Capital market entities are primarily engaged in the business of broking (both retail as well as institutional) and investment banking. They also provide associated services like demat accounts, providing loans against shares, margin funding, etc. to their broking clients. In the financial system, they perform an important intermediary role: n As investment bankers, CMEs facilitate raising of capital (both equity and debt), which is critical raw material for growth. They also play an important role in mergers, acquisitions, and their funding n As brokers, CMEs enable equity investing culture, helping to expand the retail investor base. CRISIL has a strong and diverse rating coverage in this sector – CRISIL rates more than 50 companies engaged in capital market and related businesses, including domestic and foreign, as well as large and small.
    [Show full text]
  • S.No. Broker Code Broker Name Contact Person Phone No. Mobile
    Broker S.no. Broker Name Contact Person Phone No. Mobile No. Add 1 Add 2 Add 3 Pin Email Code [email protected]; RUCHIKA RAINA SINGH, 9899636606, 25, C BLOCK [email protected]; 011-45675504, 1 001 SPA CAPITAL ADVISORS LTD. VARUN KAUSHIK, 9873486360, COMMUNITY JANAK PURI NEW DELHI 110058 [email protected]; 45675588,45675528 SANJAY JAIN 9910234032 CENTRE [email protected]; [email protected]; HARISH 9999114500, SABHARWAL 5TH 97, NEHRU [email protected];aparnarazdan@ba 2 002 BAJAJ CAPITAL LTD. HARISH SABHARWAL 011-41693000 NEW DELHI 110019 9811121101 FLOOR, BAJAJ PLACE jajcapital.com HOUSE [email protected]; [email protected]; J. M. FINANCIAL SERVICES PRADYUMNA 022-30877349, PALM COURT, 4TH LINK ROAD [email protected]; 3 003 MUMBAI 400064 PVT LTD SATPATHY 30877000, 67617000 FLOOR, M WING MALAD WEST [email protected]; [email protected]; [email protected] 105-108, CONNAUGHT [email protected]; 011-61127438, 040- 9989836349, 19, BARAKHAMBA 4 004 KARVY STOCK BROKING LTD. B V R NAIDU ARUNACHAL PLACE, NEW 110001 [email protected]; [email protected]; 44677536 9177401508 ROAD BUILDING DELHI [email protected] R. R. FINANCIAL RAJEEV SAXENA, S K 47 M M ROAD, RANI [email protected]; [email protected]; 5 005 011-23636362-63 9717553830 JHANDEWALAN NEW DELHI 110055 CONSULTANTS LTD. SINGH JHANSI MARG [email protected] [email protected]; HSBC SECURITIES AND 52/60 M. G. ROAD [email protected]; 6 006 SHWETANK DEV 022-40854280 9811374741 MUMBAI 400001 CAPITAL MARKETS (I) P LTD FORT [email protected]; [email protected] MR.
    [Show full text]
  • LIC Housing Finance (LICHF)
    LIC Housing Finance (LICHF) CMP: | 408 Target: | 400 (-2%) Target Period: 12 months HOLD months August 6, 2021 Uncertainty on stress accretion, low NPA buffer… About the stock: LIC Housing Finance (LICHF) is among the largest HFCs in India with an extensive distribution network of 282 marketing office and 2421 employees. Particulars Ess Total 91% of LICHF’s customers are salaried and 9% are self employed Particulars Amount Retail home loans form 78.3% of the overall book Market Capitalisation | 20605 crore Networth (FY21) | 20521 crore 52 week H/L 542 / 255 Face value | 2 Q1FY22 Results: Subdued overall performance; asset quality concern looming. Update Company Shareholding pattern NII up 4.5% YoY, down 15.3% QoQ, NIMs down 46 bps QoQ to 2.2% (in %) Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Promoter 40.3 40.3 40.3 40.3 40.3 Higher provisions at | 830 crore, C/I ratio rise impacted PAT at | 153 crore FII 34.3 34.4 29.3 28.2 28.8 Stage 3 assets rose 181 bps from 4.12% to 5.93% & 2.3% was restructured DII 10.6 10.4 15.4 16.8 15.6 Others 14.8 21.9 21.9 14.7 15.3 Price Chart What should investors do? LICHF has given ~57% return over the past year. 600 20000 500 However, we believe a healthy recovery on stressed asset is necessary for better 15000 valuations. 400 300 10000 200 We retain our HOLD rating on the stock 5000 100 Target Price and Valuation: We value LIC Housing at ~0.9 FY23E BV and revise 0 0 our target price for the stock at | 400 per share from | 475 earlier.
    [Show full text]
  • PRAJ Technology Presentation to CTC 16102015
    LEED Certified Platinum Green Building Praj Industries and Praj Matrix Partnering for Bespoke Technology Development, Scale -up and Commercialization Pramod Kumbhar CTO © Praj Industries Ltd www.praj.net Corporate Overview Praj Matrix-R&D center enfinity : Praj Ligno-cellulosic (LC) Biorefinery Beyond Business 2 Corporate Overview Established in 1983 by first generation technopreneur, Pramod Chaudhari (Executive Chairman) Praj is a unique technology + engineering company, with Global leadership in ethanol arena End-to-end solutions Provider – concept to commissioning; feedstock handling to effluent treatment Offering TEMP-C1 solutions and products Praj Matrix: World Class R&D center Listed on NSE & BSE in India Strong Balance Sheet TEMP-C1 – Technology, Engineering, Manufacturing, Procurement, Construction 3 Vision, Mission & Values Vision We aspire to be the most preferred organization for all stakeholders through environment friendly, sustainable solutions that can make the world a better place Mission Develop and deliver cost- Invest and partner in effective, safe, clean and development and Be a socially reliable solutions that will realization of new ideas responsible Create wealth for maximize prosperity of recognizing the risks and corporate citizen our Stakeholders our customers working to mitigate them Values Integrity Innovation Passion Responsibility Agility Reliability 4 More than Three Decades of Building Trust 2008-14 2015 onwards . Moves 2G bioethanol technology to pilot scale . Launches Ethanol Plant Modernization . Enters high purity water segment through acquisition of Business Neela Systems (now called PRAJ HiPurity Systems) . Introduces ‘Enfinity’ 2G ethanol technology . Designs and launches new corporate identity . Commercializes 2G Demonstration Plant . Won 2G orders from Leading OMC’s 1991-98 . IPO in 1994 .
    [Show full text]
  • Board of Directors
    BOARD OF DIRECTORS Shri V K Sharma Chairman Ms. Usha Sangwan Shri Vinay Sah Shri Jagdish Capoor Director Managing Director & CEO Director Ms. Savita Singh Shri T.V Rao Dr. Dharmendra Bhandari Director Director Director Shri Debabrata Sarkar Shri V K Kukreja Shri Ameet Patel Director Director Director 23 LIC HOUSING FINANCE LIMITED ANNUAL REPORT 2016-17 24 BOARD OF DIRECTORS SHRI V K SHARMA MS. USHA SANGWAN Chairman Director Shri Vijay Kumar Sharma took charge as Chairman, Life Mrs. Usha Sangwan, is the first ever woman Managing Insurance Corporation of India on 16th December, 2016. Prior Director of Life Insurance Corporation of India. She is Post to his taking over as Managing Director, LIC of India, on 1st Graduate in Economics and Post Graduate Diploma holder in November, 2013, he was Managing Director & Chief Executive Human Resource Management and Licentiate from Insurance Officer, LIC Housing Finance Limited (LICHFL), a premiere Institute of India. She joined LIC as Direct Recruit Officer in 1981. housing finance provider in the country with loan portfolio exceeding `83,000 crore. Mrs. Sangwan is the whole time Director of LIC of India, Board Member of General Insurance Corporation of India, Shri Vijay Kumar Sharma, born on 19th December, 1958 is LIC Housing Finance Ltd., Axis Bank, Ambuja Cements Ltd. a post-graduate (M.Sc.) in Botany from Patna University. and Bombay Stock Exchange Ltd., Board Member of LIC Shri Sharma joined LIC as Direct Recruit Officer in 1981 (International) BSC © Bahrain, Kenindia Assurance Co. Ltd., LIC and has grown with the Company since then. During his Card Services Ltd., Member of Governing Council of National stint as Senior Divisional Manager, Karnal, a rural division, Insurance Academy, Member on the Board of Education of had catapulated to Number One position in the country Insurance Institute of India, a Trustee of LIC Golden Jubilee in premium income ahead of all other metro centres.
    [Show full text]
  • For Immediate Publication / Broadcast / Telecast PR / 1253
    . For Immediate Publication / Broadcast / Telecast PR / 1253 IDBI Additional Tier - I (AT - I) Bonds oversubscribed Mumbai, October 17, 2014: IDBI Bank’s first Basel III compliant Additional Tier – I (AT - I) bonds amounting to `2,500 crore (`1,500 crore with an option to retain over-subscription upto `1,000 crore) received an overwhelming response and has been fully subscribed prior to the closure date. The issue opened on September 29, 2014. This is the first AT - I bond issuance by a bank in India after RBI modified its Basel III guidelines vide its circular dated September 1, 2014. The issue was competitively priced at a coupon of 10.75% p.a. payable annually. The issue is perpetual in nature with call option after the instrument has run for 10 years. The amount mobilised would be counted as a part of Tier I capital and enhance the capital adequacy of the Bank. The bonds are rated AA- by CRISIL and India Rating. Shri M. S. Raghavan, Chairman & Managing Director, IDBI Bank while commenting on the bond issuance, stated, "IDBI Bank is one of the best known names and has been a pioneer in various initiatives in the banking industry. The resounding success of this bond issue is testimony to this fact. This issuance will pave way for other banks to issue Tier I Bonds in the domestic market and will increase the acceptance of this instrument among the investors.” Axis Bank Ltd., Darashaw & Co. Pvt. Ltd., ICICI Bank Ltd., Trust Investment Advisors Pvt. Ltd. and IDBI Capital Market Services Ltd.
    [Show full text]
  • A Flight to Safety As Indian Banks Navigate Tumultuous Times 2020 Greenwich Leaders: Indian Corporate Banking
    A Flight to Safety as Indian Banks Navigate Tumultuous Times 2020 Greenwich Leaders: Indian Corporate Banking The global pandemic is putting economies and financial systems around the world under unprecedented stress. In India, this represents an even sterner test for a banking system that is still reeling from the impact of bank failures prior to the outbreak of COVID-19. Amid a national lockdown and fears of a liquidity crisis, companies in India are joining consumers in shifting business to the largest and presumably safest banks. In this report, we will analyze how the still-unfolding crisis and the many other challenges facing India’s banking sector are affecting the competitive positioning of individual public- and private-sector banks. INDIA’S BANKING WOES PILE UP These key factors converged to create a perfect storm in India’s banking system: J Stress of Public Sector (PSU) Banks’ Balance Sheet With direct intervention from the Indian government, non-performing asset (NPA) ratios had started to decline by 2019, but this is still a work-in-progress for the PSU banking sector. The series of public bank mergers orchestrated by RBI represent a critical step that will make the banking system stronger and more stable. However, navigating sweeping organizational integrations is going to be tough with the epic challenge of the COVID-19 crisis. J NBFC Liquidity Issues The nonbank financial companies (NBFC) crisis, which started in 2018 with the collapse of IL&FS, continues to plague the Indian banking sector. These 10,000+ lightly regulated NBFCs are not only a critical source of credit for small and medium businesses, they have also become intricately linked with the overall banking sector.
    [Show full text]