Home > News > Business India News

IDBI to launch new product 'gilt scheme' in Dec : Mallick

Posted on Nov 22, 09:10PM | UNI

IDBI will launch a new product of ' Gilt scheme' which seeks to invest in a diversified basket of government securities on December 5 this year.

The bank would deliver more new products by next year against 10 existing products including 5 debt funds, IDBI Asset Managent Managing Director and Chief Executive officer Mr Debashish Mallick told reporters after launching of ARTHOS, a personal Finance platform designed by Hyderabad-based Artha Yantra here today.

Acknowleding debt funds are the flabour of markets because of the poor performance of the equity markets, Mr.Mallick said that some section of either people or highlighting that the debt funds are the alternative for equity. It is not true.

He said debt could be a better option for some time to come and there is some more time for stability to return in the equity markets.

The debt products also be generate income for the investors and it was needed to create awarness on debt funds to tap retail investors in the market, he said.

The new SEBI guidelines would expand its product bouquet and distribution network in order to grow its business and cater to a wider set of customers, he added.