Category: News in Financial Sector

Oct 5

Roll over FMPs only if you don't need cash

Akhil Mittal, senior fund manager of Tata Asset Management says that investors whose investments in fixed maturity plans (FMPs) are nearing maturity are shifting to other products, especially hybrid or balanced funds, instead of rolling over the FMP. Fund managers are seeing investors move to both debt and equity oriented hybrid funds. http://www.business-standard.com/article/pf/roll-over-fmps-only-if-you-don-t-need-cas..
Oct 5

Sebi plans to cut IPO timeline to just 4 days

The Securities and Exchange Board of India (Sebi) wants to cut the timeline for Initial Public Offers (IPOs) and Follow-on Public Offers (FPO) of equity to four days. The move, if implemented, will see companies close their offerings and list the securities in the same week. It will also attract more investor participation, as their […]
Feb 16

Sebi makes KYC process easier for investors

Making Know-Your-Client process easier for investors, Sebi today cleared a proposal to allow various market entities such as brokers and mutual funds to get investor details from centralised KYC agencies, rather than carrying out a fresh KYC verification procedure. Presently, there is an option available to a market intermediary that it may access the centralised […]
Feb 15

Top insurers eye HSBC's stake in Canara HSBC OBC Life Insurance

Leading life insurance companies such as HDFC Life, Birla Sun Life and ICICI Prudential have shown interest in purchasing HSBC’s stake in its three-cornered JV with two public sector banks. Two people with direct knowledge of the development said advisors to HSBC have approached the insurance companies, and the matter is under consideration.   http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/top-insurers-eye-hsbcs-stake-in-canara-hsbc-obc-life-insurance/articleshow/18507068.cms. […]
Feb 13

Funds seek open-ended status for RGESS

The Rajiv Gandhi Equity Savings Scheme (RGESS), the new tax-saving mutual fund product, could become open-ended and eligibility to invest in these could be relaxed if the finance ministry accepts the sector’s suggestions. Finance Minister P Chidambaram said on Saturday the Union budget could make some announcements to simplify RGESS to attract more retail investors. […]
Feb 13

FM comments spark hopes of STT changes

Hopes among investors and equity bourses of a reduction in the securities transaction tax (STT) have recieved a further boost, with some even expecting that the government might abolish the tax on delivery-based transactions in the cash segment. This is after Finance Minister P Chidambaram’s remarks on Saturday that the government was considering measures to […]
Feb 13

FM comments spark hopes of STT changes

Hopes among investors and equity bourses of a reduction in the securities transaction tax (STT) have recieved a further boost, with some even expecting that the government might abolish the tax on delivery-based transactions in the cash segment. This is after Finance Minister P Chidambaram’s remarks on Saturday that the government was considering measures to […]
Feb 13

Insurers ask for tax incentives from FM

The Indian insurance industry is looking for remunerative tax incentives from the Union Budget 2013-14 to boost sales volumes and increase penetration of insurance into the market. While on one hand, life insurers are looking for separate deduction limits for long term insurance products, non-life insurers are hoping for special exemption categories for home and […]