The recommendation of the Parliamentary Standing Committee on Finance to devise a mechanism to ensure a minimum assured return to subscribers of New Pension System (NPS) flies against the raison d’etreof the NPS, to reduce the burden of pension on government finances. http://economictimes.indiatimes.com/opinion/editorial/what-the-government-must-do-to-make-new-pension-system-more-acceptable/articleshow/9866251.cms
Finance Minister Pranab Mukherjee today hoped that the Direct Taxes Code (DTC), which seeks to replace the Income Tax Act of 1961, would come into force from April 1, 2012. “If we have it (the report of Standing Committee) in the Winter Session (of Parliament), I will have no problem in effecting it from April […]
Reliance Capital and its Japanese partner in life insurance, Nippon Life Insurance, will explore strategic tie-ups in finance, initially in the asset management and private equity businesses of the Indian group. Any strategic collaboration would boost Nippon Life’s presence in India, while giving Reliance Capital better access to capital and expertise, analysts said. http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/reliance-capital-nippon-life-to-explore-broader-tie-up/articleshow/9825186.cms
The recent reforms initiatives taken by the capital market regulator, the Securities and Exchange Board of India (SEBI), will strengthen investors’ confidence in the Indian economy, industry lobby Confederation of Indian Industry said Wednesday. “Exhibiting sensitivity towards the users’ need for simplification and meaningful disclosures, the initiatives will generate confidence in the domestic markets and […]
Rising costs, shrinking margins, and a dull stock market are driving Indian broking houses to the brink . Several of them are on the block and could be available at a bargain, yet there are few willing buyers. Everyone talks of consolidation being imminent in the broking industry, but regulatory hurdles and the nature of […]
This may appear contrary to popular belief, but it’s true. Bank deposits, despite their safety and ease of operations, seem to be fast losing their charm among Indian households as the best place to park money in. Over the past three years, households have increasingly preferred to save their growing disposable incomes in government-backed savings […]
Capital markets regulator Sebi today directed stock brokers and sub-brokers to redress investor complaints within a month of receiving them, saying that failure to do so would make them liable for penal action. The direction comes a day after it announced that all investor complaints should be forwarded to it electronically through recently established, centralised […]
India’s household savings, which have fuelled growth over the last few years, have dropped to below 10% of gross domestic product, or national income, for the first time in 13 years, as soaring inflation ate into disposable incomes. Net financial savings by Indians, which include deposits with banks and non-banking finance companies, cash, investment in […]
The premium collection of the life insurance industry in India dipped 21.8 per cent to Rs 26,794 crore during the April to July period as against Rs 34,249 crore reported in the corresponding period last year. According to the data collected by Insurance Regulatory and Development Authority (Irda), during the first quarter of the financial […]
Come Monday, Indian investors will be able to directly place bets on two of the leading US equity indices, without worrying about foreign currency. The National Stock Exchange (NSE) will go live with rupee-denominated derivative contracts on S&P500 and Dow Jones Industrial Average (DJIA) indices. It will conduct a mock trading session for these contracts […]
