IDBI Bank today said it has received final nod from capital market regulator, SEBI, to launch its mutual fund operations. The asset management company, IDBI Asset Management (IDBI AMC) is aiming to launch its products across the equity and fixed income category.

Reliance Mutual Fund has declared dividend under its open ended schemes - Reliance Diversified Power Sector Fund, Reliance Vision Fund and Reliance Growth Fund. The quantum of dividend decided for distribution is 25 per cent that is 2.5 per unit on the face value of Rs. 10 per unit each. The record date decided for distribution of dividend for all the schemes is 30th March, 2010.