News Archive

IDBI Gold Exchange Traded Fund (IDBI Gold ETF), the New Fund Offer (NFO), launched by IDBI Asset Management Ltd received an overwhelming response from investors. The NFO collected over Rs 110 Crores, predominantly from around 11,000 retail investors, including HNIs.

Commenting on the success of IDBI Gold ETF, Mr. Debasish Mallick, Managing Director and Chief Executive Officer, IDBI Asset Management Ltd, said: “The positive response received by our NFO confirms investors’ faith in IDBI Brand. In the current scenario of inflation and economic uncertainties, investment in gold could be viewed as a good hedge and prudent asset allocation strategy”.

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The National Stock exchange is launching derivative contracts on the world’s most followed equity indices, the S&P 500 and the Dow Jones Industrial Average from Monday, the 29th of August.

This is the first time that derivative contracts on global indices are being launched in India.

This is the also the first time in the world that futures contracts on the S&P 500 index are being introduced and listed on an exchange outside of their home country, USA.

The new contracts will include futures on both the DJIA and the S&P 500, and options on the S&P 500.
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Today India celebrates 64 years of independence.

It is a joyous occasion for Indians everywhere.

In this journey of 64 years India has changed a lot.

It has been 20 years since the economic liberalisation policies initiated in the year 1991.
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Standard & Poor’s (S&P) downgraded the U.S. government’s “AAA” sovereign credit rating to “AA+”.

This is the first time in American history that it has recieved a rating other than “AAA”.

The S&P defines an AAA credit rating as “Extremely strong capacity to meet financial commitments.” and is the highest rating.

The AA rating is merely a “Very strong capacity to meet financial commitments.”

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The income tax department of india completed 150 years of taxation in the year 2010.

The income tax department was established in the year 1860.

The function to commenmorate this occasion was titled ‘Income Tax – 150 years of building India’.

This function took place on 26th of Februrary 2011, and on this occasion the finance minister unvieled Rs 150 coin and Rs 5 coin.

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