Two years after introducing sub-limits in health insurance policies, non-life insurers are now deleting the clause from new plans to attract retail customers. Sub-limits imposed specific restrictions on room rents, doctors’ fees and operation theatre charges. http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/insurers-scrap-sub-limits-in-health-policies/articleshow/12889958.cms .
The government has asked the insurance sector regulator to examine and relax the branch opening norms for the smaller cities, hoping increased presence of insurance companies will boost penetration of insurance products. http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/irda-advised-to-study-relax-norms-for-rural-branches/articleshow/12890510.cms .
The mutual fund industry shed around 80 per cent of folios belonging to banks and financial institutions in FY12. The decline was largely due to an RBI directive. RBI had asked banks to reduce their MF exposure to a maximum of 10 per cent of their net worth to mutual funds http://www.thehindubusinessline.com/markets/stock-markets/article3353309.ece .
Trading in derivatives contracts of foreign indices in Indian markets has dropped nearly 10 times in April compared with a month earlier hit by poor overall market volumes and closure of the cash incentive scheme on the NSE http://economictimes.indiatimes.com/markets/stocks/market-news/trading-in-global-index-derivatives-plummets/articleshow/12873302.cms .
A month down the line, you may be holding insurance policies in electronic form. According to sector experts, the regulator is in the last lap of checking repositories’ preparedness and infrastructure, and is likely to allot licences by May-end or early June. Though e-policies will be available across life, health and motor insurance segments, the […]
To improve the framework for qualified foreign investors (QFIs) and facilitate broad-based participation, the Securities and Exchange Board of India (Sebi) is working on large-scale changes to the framework notified earlier this year. It has convened an informal forum with key market participants, such as custodians, qualified depository participants (QDPs), brokers and tax consultants. Representations […]
A Parliamentary Panel has urged the insurance regulator to enquire into Life Insurance Corporation’s recent share purchase in ONGC’s offer-for-sale. The Insurance Regulatory and Development Authority (IRDA) should investigate whether LIC has violated any prudent investment norms and exceeded the limit stipulated by them, the Standing Committee on Finance, said in a report tabled in […]
Small and mid-sized mutual fund houses have raised questions at the functioning of their industry body – Association of Mutual Funds in India (Amfi). They allege is decision making process is tilted towards the sector’s top players, which they termed “irrational and dangerous”. Though the smaller players have been unhappy with Amfi for quite some […]
An increasing number of listed shell companies are being acquired through small deals by wealthy individual investors who want to possibly take advantage of the listed status of these entities. The investors are sensing an opportunity in buying out promoters and minority shareholders in a sluggish market, as the acquisition provides ready listing platform for […]
More details are emerging on Friday’s ‘flash crash’ incident. In a communique to trading members, the National Stock Exchange (NSE) on Monday revealed that algorithms had no role to play in S&P CNX Nifty futures’ near-seven per cent crash within the space of a few minutes last week. Such a message was put out by […]
