Ending speculation that the Reserve Bank of India (RBI) may issue final guidelines for fresh banking licences without the amendment of the Banking Regulation Act, the central bank on Thursday said that neither the final norms nor the process for inviting application could be done without changing the law. http://www.business-standard.com/india/news/new-bank-licences-only-after-rbi-act-amendment/492136/
The Insurance Regulatory and Development Authority (IRDA) has asked health insurance companies to indicate premium to be paid by the policyholder in the first five yearswhile filing new products for its approval. However, the companies are free to increase the renewal premium based on medical inflation, cost of healthcare and its underwriting practice, say insurance […]
The mutual fund landscape in India is undergoing rapid changes. The industry watchdog, Securities and Exchange Board of India, has ushered in a whole new framework for this investment avenue primarily to help revive a flagging industry. While industry players scurry to deal with the revised guidelines, fund investors need to be aware of the […]
Investors have turned bullish on equities after big-bang reforms were announced by the government last month, as delivery-based volumes, buying shares and holding these for a certain period, touched an 11-month high http://www.business-standard.com/india/news/delivery-based-volumes-touch-11-month-high/489605/
Consumers can look forward to a series of changes and not just the advent of new companies and insurance options if the reforms package approved by the Cabinet on Thursday gets a green signal from Parliament. http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/fdi-in-insurance-health-insurance-business-to-get-a-fillip-new-players-boon-for-consumers/articleshow/16681151.cms
The finance ministry’s proposal to allow insurance companies to invest in AA-rated securities will broaden investment options for insurance companies but is also likely to expose their policyholders to higher risk. http://www.business-standard.com/india/news/new-insurance-norms-can-bedouble-edged-sword/488851/
The Insurance Regulatory and Development Authority (Irda) has identified 18 product categories for standardisation. This will help insurers quickly launch their products. Under the ‘file and use’ mandate, companies have not been able to offer products until they are approved. And, product approval in the industry takes time. So, Irda has proposed standardising some products […]
The finance ministry will urge the Reserve Bank of India to issue licences for new banks without waiting for changes in the Banking Regulation (BR) Act, on the ground that the regulator has sufficient powers under the Companies Act to discipline errant lenders. http://economictimes.indiatimes.com/news/economy/policy/finance-ministry-to-nudge-rbi-to-issue-licences-for-new-banks/articleshow/16745119.cms
India is home to as many as 7,730 ultra high net worth (UHNW) individuals whose combined wealth amounts to a whopping USD 925 billion, says a study. http://www.financialexpress.com/news/indias-7-730-super-rich-own-925-bn/1003868/ .
The department of disinvestment will soon appoint internationally-reputed advisors for setting up an exchange-traded fund (ETF) for selling shares of public secor units to meet the year’s disinvestment target of Rs 30,000 crore. “Internationally reputed merchant bankers, investment bankers, consulting firms and asset management companies, who have advised or have launched an equity ETF could […]
