New Delhi, Apr 16 (PTI) Groww, an investment platform, today announced direct plan mutual funds for its customers.
So far, regular mutual funds were available on groww.in. However, from today, all funds would be direct by default, the investment platform said in a statement.
One can buy any direct plan available on the company’s app or website, without paperwork and within minutes. There are no charges for investing in direct plans through Groww.
Currently, there are two types of mutual funds plans — direct and regular — available to the investors .
Regular plans have an indirect commission paid to the distributors while direct plans have no commission. As a result, direct plans have higher returns than regular plans.
Messe Frankfurt announces acquisition of India’s largest fitness event * Messe Frankfurt Trade Fairs India has announced the acquisition of fitness and health event Fitex India.
“The acquisition gives Messe Frankfurt ownership of Fitex India trade fair,” the firm said in a statement.
Wolfgang Marzin, President and CEO of Messe Frankfurt said that Fitex serves the rapidly growing fitness, health and wellness industry.
“In India, the total market for fitness is valued around Rs 7,000 crore and is growing at a healthy rate of 17-19 per cent. Spiked by the increasing focus on health, fitness centres are growing and becoming part of the lifestyle of the young India,” it added.
Fitex India is held annually in the national capital. Its next edition is scheduled on May 5-6 at the India Expo Centre and Mart, Greater Noida.
IOB ties up with SMC Global Securities for online trading services * State-owned Indian Overseas Bank (IOB) has tied-up with brokerage firm SMC Global Securities (SMC Global) to offer online trading services to the bank customers.
The customers of the bank can do trading through www.smctradeonline.com.
“This tie up would help the bank to provide additional services to its account holders, would increase float and would add additional stream of revenue to the bank,” said Anurag Shankar, General Manager, IOB.
This tie-up would help SMC to increase its presence in southern India and would also help SMC to increase its client base, said Ajay Garg, Director, SMC Global.
SMC has presence in more than 500 cities which can service around 3,300 branches of IOB, a statement said.
This is published unedited from the PTI feed.