SUNDARAM BNP Paribas Mutual Fund has announced the launch of Sundaram BNP Paribas PSU Opportunities fund. The investment objective of this thematic fund is to seek capital appreciation by investing primarily in the equity and equity-related instruments of PSU companies across the cap curve and sectors. This is an openended equity scheme, with CNX PSE Index as its benchmark. The issue of units is at Rs 10 each during the New Fund Offer period (between November 25, 2009, and December 23, 2009).
As the name suggests, it's an electronic process through which money can be transferred from one bank account to another. According to RBI, this mode is usually used for regular payments and receipts, like distribution of dividend, interest, salary, pension etc. This mode is also used for collection of bills for telephone, electricity, water, various types of taxes, payment of EMIs , investments in mutual funds , payment of insurance premium etc. There are two types of ECS , like most other banking transactions, ECS credit and ECS debit. An ECS credit is used by a bank account holder , usually a large company or an institution for services like payment of dividend, in terest, salary, pension etc. If your mutual fund pays you dividend to your bank account, of all probability it is being paid through ECS credit.ECS debit, on the other hand, is used when a company or an institution is getting money from a large number of people. For example if you are investing in a mutual fund sc...
