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 […]
In yet another reform measure to deepen capital markets and attract retail investors into equities, the government is set to notify norms for the Rajiv Gandhi Equity Savings Scheme (RGESS) in the coming week. Government sources said the finance ministry will define the rules of the tax saving scheme with mutual funds likely to be […]
The UPSE board had called for a meeting on September 15 to decide on implementing the new norms Promoters and members of the Uttar Pradesh Stock Exchange (UPSE) have moved court against the Securities and Exchange Board of India (Sebi) for prescribing stringent norms for regional stock exchanges (RSEs). The Allahabad High Court has admitted […]
Sahara depositors have flooded the Securities and Exchange Board of India’s (Sebi’s) toll-free helpline with queries about the refund process. The number of calls made by investors has surged to nearly 500 a day and most pertain to the Supreme Court judgement on Sahara, said a senior Sebi official http://www.business-standard.com/india/news/sebi-floodedsahara-refund-calls/486117/ .
The government today said pension fund regulator PFRDA has garnered Rs 15,466 crore under the New Pension Scheme (NPS) as of July 2012 http://economictimes.indiatimes.com/personal-finance/savings-centre/savings-news/pfrda-garnered-rs-15466-crore-under-nps-till-july-finance-ministry/articleshow/16281946.cms .
The government today said pension fund regulator PFRDA has garnered Rs 15,466 crore under the New Pension Scheme (NPS) as of July 2012 http://economictimes.indiatimes.com/personal-finance/savings-centre/savings-news/pfrda-garnered-rs-15466-crore-under-nps-till-july-finance-ministry/articleshow/16281946.cms .
