Canara HSBC Oriental Bank of Commerce Life Insurance has introduced a new unit-linked insurance product Secure Bhavishya to protect and meet an individual's future financial needs.
It will help customers build-up a retirement fund which can be used to provide a steady post retirement income, a company statement said.
It offers capital protection by way of minimum guarantee of 101 per cent of all premiums paid as the maturity value, it said.
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Mahindra AMC launches new scheme
* Mahindra Asset Management Company today launched an open ended scheme, which will generate long-term capital appreciation through a diversified portfolio of equity and equity related securities.
Mahindra Mutual Fund Kar Bachat Yojana -- an open ended ELSS Scheme -- with a three year lock-in period. The New Fund Offer would close on October 7, this year and will reopen for continuous sale and repurchase from October 19, 2016.
"This Yojana is for those people who not only want to save tax but also wish to create a tax-free corpus through their long term investments," Mahindra AMC Chief Executive Ashutosh Bishnoi said in a statement.
Mahindra AMC, wholly-owned subsidiary of Mahindra and Mahindra Financial Services, received markets regulator Sebi's approval in February to set up mutual fund business.
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JK Tyre rolls out 10 millionth truck/bus radial tyre * Tyre maker JK Tyre and Industries has crossed 1 crore cumulative production milestone for truck/bus radial tyres, becoming the first Indian tyre company to achieve such feat.
The company today rolled out the 10 millionth truck radial tyre from its Vikrant plant in Mysuru.
JK Tyre had taken over this plant from the Karnataka government in the late 1990s and turned it around into a modern plant with an investment of over Rs 1,200 crore.
"Starting in 1977, when we set up our first tyre plant in Rajasthan with 5 lakh per annum capacity, we have come a long way and today JK Tyre has grown multifold," JK Tyre CMD Raghupati Singhania said in a statement.
Over the years the company has set up new plants, expanded capacities at regular intervals and even acquired plants across continents like the ones in Mexico, and recently the plants of Cavendish Industries in Uttarakhand, back home to keep pace with the increase in demand of tyres in the domestic as well as global markets, he added.
Huawei in pact with Honeywell for smart building offerings
* Huawei today announced a collaboration with Honeywell to bring to market smart building offerings that take advantage of the latest Internet of Things (IoT) technologies to make buildings secure and energy efficient.
"Through the collaboration, the two companies will jointly pursue large-scale smart city projects globally to help city administrators build intelligent urban infrastructures that enable them to control costs while making their cities desirable and livable for their residents," a Huawei statement said.
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Ceat board approves re-appointment of Anant Goenka as MD * Tyre maker Ceat Ltd today re-appointed Anant Goenka as Managing Director for another five years.
The Board of directors of the company at its meeting approved Goenka's reappointment from April 1, 2017 to March 31, 2022, Ceat Ltd said in a BSE filing.
The re-appointment, however, is subject to shareholders' approval at the ensuing general meeting of the company, it added.
