Financial Daily from THE HINDU group of publications
Friday, Dec 16, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 16, 2005 |
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Markets
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Mutual Funds Marketing - New Products & Services Reliance Mutual launches ATM facility Our Bureau
Mumbai , Dec. 15 RELIANCE Mutual Fund has launched a new facility wherein investors of the fund can sell their units through ATM card and withdraw money instantly. To start with Reliance Regular Savings Fund subscribers would have the facility of Reliance Any Time Money Card, which can be used in one million Visa ATMs and also over 24 million Visa-enabled merchant establishments across the world. Reliance Mutual Fund has also collaborated with HDFC Bank for the card. The fund plans to offer this facility for all its 23 schemes, said Mr Amitabh Chaturvedi, CEO of Reliance Mutual Fund, at a press conference here. The ATM withdrawal limit on the card is 50 per cent of the invested fund or the limit set by that particular ATM, whichever is higher, Mr Chaturvedi said. He said the unit-holders will not have to pay any charges for availing this facility.
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