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SBI MF launches SBI Banking & Financial Services Fund

Press Trust of India  |  New Delhi 

SBI Mutual Fund today announced the launch of SBI Banking & Financial Services Fund, an open-ended equity scheme that will invest in companies from the banking and financial services sector.

The new fund offer (NFO) will open for subscription from tomorrow and schedule to close on February 24.

The fund would adopt a bottom up stock selection process, and proposes to invest at least 80 per cent of the portfolio in companies cutting across market capitalisation in banking and financial sector.

"SBI Banking & Financial Services Fund is uniquely positioned to take advantage of the possible further strengthening of India's economy," SBI Mutual Fund CIO Navneet Munot said in a satement.

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ASCI, committee to monitor ads on stem cell based therapies * The National Apex Committee for Stem Cell Research and Therapy (NAC-SCRT) and advertising regulator ASCI would jointly monitor advertisements claiming stem cell based therapies.

Advertising Standards Council of India (ASCI) along with NAC-SCRT would scrutiny claims by several clinics, which advertise these therapies to attract vulnerable patients for therapies whose safety and efficacy is not established, a statement said.

As the stem cell based therapies are currently experimental / investigational, advertising these for indications is not approved by regulatory authorities and is in violation of the ASCI code, ASCI said.

The code requires that advertisements should not propagate products or services, the use of which is banned under the law, it said.

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Koenig Solutions unviels training programmes * Koenig Solutions has launched advanced training programmes and courses in web application security systems.

Developed by EC Council in collaboration with experts and industry practitioners, the CAST (Centre for Advanced Security Training) programmes are aimed at nurturing an advanced next generation of cyber security providers, the IT training provider firm said in a statement.

There are seven domains of CAST that is offering to web programmes and developers, said Rohit Aggarwal, Founder and CEO of Koenig Solutions.

First Published: Tue, February 10 2015. 19:20 IST