The new fund offer opened for subscription on February 9, 2013 and closes on March 9, 2013.
IDBI Mutual Fund launched IDBI RGESS (Rajiv Gandhi Equity Savings Scheme-Series I), a close ended growth scheme offering income tax benefits under Section 80 CCG of the IT Act, 1961. The new fund offer opened for subscription on February 9, 2013 and closes on March 9, 2013.
“IDBI RGESS provides an opportunity to invest in an actively managed equity mutual fund scheme and benefit from possible capital gains along with tax savings u/s 80CCG upfront,” said Debasish Mallick, MD & Chief Executive Officer, IDBI Mutual Fund.
The investment objective of the scheme is to generate opportunities for growth while providing income tax benefits under section 80CCG of the Income Tax Act 1961 by active management of portfolio investing predominantly in RGESS eligible equity instruments.
