‘SME exchanges can be opened separately’

Mumbai: Market regulator SEBI has said separate bourses can be set up for trading in shares of small and medium enterprises, while existing exchanges can also have a separate platform for SMEs. With a view to encourage small and medium firms to come out with public issues, market regulator SEBI on Monday allowed existing stock exchanges to set up a separate trading platform and relaxed the criteria for their listing.

UBI seeks Rs 1,800 cr from government

New Delhi: State-owned Union Bank of India on Tuesday said it has sought financial assistance to the tune of Rs 1,800 crore from the government to meet credit growth in the coming years. "We have requested the government for the capital infusion," Union Bank of India Chairman and Managing Director M V Nair said on the sidelines of India Economic Summit here.

Axis Mutual Fund launches equity fund

Mumbai: Axis Bank promoted Axis Mutual Fund has launched its first equity fund, Axis Equity Fund, a diversified scheme for investing in Nifty stocks. "We aim to offer total investment solutions to consumers and not just individual products. Our research has shown that there is a huge demand for simplicity and trust in financial services," Axis AMC’s Managing Director & CEO Rajiv Anand said in a statement here on Tuesday.

Spark Mobiles to enter India in Dec

New Delhi: UAE-based handset maker Spark Mobiles has said it will foray into the Indian market by December this year and has earmarked about Rs 100 crore for marketing activities. “Our new range of mobile handsets will be launched in India in December this year. We will be investing around Rs 100 crore in the next two years on marketing campaigns,” Spark Group of Companies chairperson Elaine Roach said.

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