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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: ratan lal who wrote (4169)	4/30/1999 1:54:00 PM
From: Mohan Marette	Respond to of 12475

Prudential Offers Web Finance For Non-Res Indians Ratan: Here is something interesting. ======================== By A. Nair InternetNews India Correspondent [April 30, 1999--MUMBAI] The Prudential ICICI Asset Management Company (AMC) Limited has unveiled 'e-commerce' for Non-Resident Indians (NRIs), offering them the convenience of on-line investment in its open-ended scheme. This has become India's first mutual fund company to launch e-commerce for NRIs. "The e-commerce offered by us gives an NRI investor the convenience of an on-line application for any of our open-ended schemes as well as subscription and redemption facilities,'' said Ajay Srinivasan, managing director of the AMC. Explaining the salient features of the facility, he said it eliminated the need for an NRI investor to go to the bank to purchase a rupee or dollar draft or to send it by courier. The entire investing process could be done on the Net, he pointed out. "Through a simple advice to his local bank, the investor transfers money to our mutual fund account and simultaneously sends his application form by e-mail with a scanned signature. ...... asia.internet.com