Briefly Business: Sebi to introduce product labelling for MFs soon

Sebi to introduce product labelling for MFs soon

kolkata: Securities and Exchange Board of India (Sebi) will soon introduce product labelling for mutual funds to make the investors aware of any risks associated with it. "Product labelling is an important investor education agenda for Sebi. The scheme profile will be given very shortly and finally it will be with colour codes," SV Muralidhar Rao, executive director of Sebi said.

Central Bank reduces rates

mumbai: State-owned Central Bank of India has announced a reduction of 0.25 per cent in its base rate or the minimum lending rate to 10.25 per cent. "We have revised downwards our base rate by 25 basis points (0.25 per cent) from 10.50 per cent to 10.25 per cent effective February 9," the bank said in a statement.

Indian Bank Q3 down 37%

chennai: Indian Bank has reported 37.1 per cent decline in net profit at Rs 330.58 crore for the third quarter ending December 31, 2012. The city-based public sector bank registered net profit of Rs 525.92 crore in year-ago period.

Bajaj bike sales up 2% in January

new delhi: The country's second largest two wheeler maker Bajaj Auto has reported 2.35 per cent rise in its motorcycle sales at 3,01,361 units in January 2013. The company had sold 2,94,439 units in the corresponding month last year, Bajaj Auto Ltd said in a statement.

Newsweek firm now NewsBeast

washington: The operator of Newsweek officially became NewsBeast. Newsweek editor Tina Brown, alongside unit chief executive Baba Shetty, told a staff meeting that the Newsweek Daily Beast Company will henceforth be known as NewsBeast, said Justine Sacco, a spokeswoman for corporate parent IAC.

SK Pal is NBCC Director Finance

new delhi: National Building Construction Corporation has appointed SK Pal as Director Finance. In a filing to the BSE, NBCC informed that "SK Pal has joined as Director (Finance) on Board of the company with effect from February 1, 2013".

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