Category: News in Financial Sector

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 […]
Nov 9

Govt aims high with RGESS

The recently introduced Rajiv Gandhi Equity Savings Scheme ( RGESS) – named after a popular prime minister who was assassinated in 1991 – offers Indian investors earning less than Rs 1 million ($18,600) a year a 50 per cent tax break on stock investments of up to Rs 50,000. http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/india-courts-investors-to-boost-investment-in-local-markets/articleshow/17108169.cms  
Nov 9

Govt aims high with RGESS

The recently introduced Rajiv Gandhi Equity Savings Scheme ( RGESS) – named after a popular prime minister who was assassinated in 1991 – offers Indian investors earning less than Rs 1 million ($18,600) a year a 50 per cent tax break on stock investments of up to Rs 50,000. http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/india-courts-investors-to-boost-investment-in-local-markets/articleshow/17108169.cms  
Nov 9

Million dollar traders replaced with machines amid cuts

Wall Street’s credit-derivatives traders, who before the financial crisis commanded $2 million of annual pay, are being replaced by machines as banks cut costs and heed new regulations. UBS, Switzerland’s biggest bank, fired its head of credit-default swaps index trading, David Gallers, last week, with no plan to fill the position, according to two people […]
Nov 9

New bank licences only after RBI Act amendment

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/
Oct 15

Delivery based volumes hit 11 month high

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/
Oct 10

Health insurance biz to get a fillip

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