BUY AN ICICI BOND AND GET YOUR CHILD A SCHOLARSHIP
Article Abstract:
The Industrial Credit and Investment Corporation of India (ICICI) plans to launch a Scholarship Bond, to meet the education needs of children. The bond has been structured by JM Financial. It offers tax exemption on the scholarship received by the child. ICICI's Scholarship Bond forms part of a fresh Rs300 crore issue under the Safety Bonds scheme. The subscription for Scholarship Bonds will commence from July 13, 1998. Each bond has a face value of Rs5,000 and the maximum investment is up to 400 bonds. The investor can choose the lock-in period. The scholarship will be paid annually for five years beginning from the end of the lock-in period. (gsh)
Comment:
Plans to launch a Scholarship Bond to meet the education needs of children
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICICI SECURITISES Rs2,500-CR RECEIVABLES IN CORE SECTORS
Article Abstract:
Industrial Credit and Investment Corporation of India has securitised receivables worth Rs2,500 crore. The receivables are in the areas of exports, auto, Department of Telecommunications (DoT), oil and property. The oil securitisation portfolio of ICICI is worth Rs900 crore while the export receivables is around Rs600 crore and auto and DoT receivables is Rs500 crore each. ICICI is also studying the details of securitised portfolio in each industry for deriving internal targets based on market share. It has also started buying past and future receivables. (ag)
Comment:
Securitises receivables worth Rs2,500 crore in areas of exports, auto, Dept of Telecommunications, oil & property
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICICI WANTS ABBREVIATION TO BE ITS OFFICIAL NAME
Article Abstract:
Industrial Credit and Investment Corporation of India (ICICI), the country's leading financial institution, is seeking shareholders' approval to change its name to ICICI Ltd. ICICI plans to change its name to reflect its diversified activities offering a range of financial products. ICICI was originally formed to offer credit and invest in industrial companies in India. (gs)
Comment:
Is seeking shareholders' approval to change its name to ICICI
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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