Memories of the panic that engulfed the world after the collapse of Lehman Brothers in 2008 have hardened rich investors who have held their nerve and resisted the impulse to dash for cash during August’s market falls, private bankers said. Bankers and financial advisers to clients whose wealth is measured in millions say most are […]
The reluctance to pay premiums without securing anything in return is the sole reason why insurance-cum-investment plans are popular in the market despite the availability of cheaper alternatives like term cover. Like term insurance, health covers, too, don’t find many takers, since many mistakenly believe that buying a health cover while maintaining perfect health makes […]
SEBI simplifies process for opening accounts To simplify and rationalise the trading account opening process, stock market regulator SEBI has replaced all client-broker agreements with the “Rights and Obligations” document. “The client will now be required to sign only on one document: the Account Opening Form. Further, in the same form, the client shall continue […]
Swiss bank Credit Suisse is reducing about 20% of its staff in the India wealth management unit as part of its global headcount reduction plans amid tough market conditions, two sources with knowledge of the situation said on Friday. Out of about 60 people in Credit Suisse’s India wealth management unit, 12 are leaving the […]
More than 10 lakh insurance agents quit the profession in fiscal 2011 as new rules on sale of Ulips made it unviable to remain in business. Data compiled by IRDA for the first time on addition and deletion of agents in any year showed the number of agents leaving was about 35%, or 10.45 lakh […]
The number of millionaire households in India will grow from 2.86 lakh to 6.94 lakh between 2011 and 2020, a growth rate of 143 per cent, said a study by the Deloitte Center for Financial Services. The growth in millionaire wealth in India is expected to vary across different wealth groups. The $5-30 million group […]
The Finance Ministry has sent its views to the RBI on granting new banking licences on August 12. It is believed to be in favour of granting new banking licences to industrial houses, provided the bank is a completely separate entity. In the communication, the Ministry has apparently suggested to RBI to soften its stand […]
The Forward Markets Commission (FMC) has directed the commodity exchanges to create an investor protection fund (IPF) at the earliest. An IPF is created to protect the interests of clients of trading members of an exchange, who may have been declared defaulters or expelled under the provisions the bourse http://www.business-standard.com/india/news/form-investor-protection-fund-soon-fmc-to-bourses/446056/
SBI Mutual Funds presents SBI Gold Fund NFO opens on – August 22, 2011 NFO closes on – September 05, 2011 INVESTMENT OBJECTIVE: The investment objective of the Scheme is to seek to provide returns that closely correspond to returns provided by SBI Gold Exchange Traded Scheme (SBI GETS). FUND MANAGER: Raviprakash Sharma PLANS AND […]
True, the stock markets have been battered and investor sentiments badly hit. But systematic investment plans (SIPs) of mutual funds still seem to be generating modest returns for retail investors who reposed their faith in the stock markets over the long term. http://www.financialexpress.com/news/5-years-on-mf-sips-hold-their-own/830254/0
