Regulator plans minimum death benefit at five times the annual premium. After unit-linked insurance policies (Ulips), the Insurance Regulatory and Development Authority (Irda) is set to crack the whip on traditional plans as well http://www.business-standard.com/india/news/after-ulips-traditional-plans-come-under-irda-scanner/449653/
Unit-linked life insurance products that promise buyers returns based on highest net asset value (NAV) achieved during the tenure of the policy are “risky” and may mislead consumers, chief of the insurance watchdog said Thursday. The Insurance Regulatory and Development Authority (IRDA) may soon ask life insurance companies to discontinue such products, also commonly known […]
The National Stock Exchange listed the Dow Jones Industrial and S&P 500 on its platform last week. Yet another widely- tracked global index is coming to India. After the National Stock Exchange (NSE) listed the Dow Jones Industrial and S&P 500 on its platform last week, the Bombay Stock Exchange is set to respond by […]
A 31-year-old staffer was arrested in the early hours of Thursday for causing a $2-billion loss to Swiss investment banking giant UBS on account of unauthorised trading at the bank’s London office. http://www.business-standard.com/india/news/rogue-london-trader-costs-ubs-2-bn/449332/
The National Stock Exchange (NSE) is set to launch its much-awaited SME exchange in the next three to four weeks. Both the BSE and the NSE have received approval from SEBI to start their own SME trading platforms. “We are going to launch the SME exchange very soon,” said Mr K Hari, Vice-President, NSE, on […]
In a move that may further dent sales of unit-linked life insurance plans (Ulips), the Insurance Regulatory and Development Authority (Irda) is set to scrap the highest Net Asset Value (NAV) guarantee products. Highest NAV guarantee products accounted for a fifth of Ulip sales after pension plan sales dried up following the stringent norms on […]
The capital market regulator, Securities and Exchange Board of India (SEBI), has proposed a Self Regulatory Organisation (SRO) for the wealth management industry to regulate the business. According to SEBI, the new SRO would also serve as a medium for SEBI to implement its various initiatives for the wealth managers. Any regulation or guideline in […]
In a move which could improve the fund flow and provide some stability to the choppy Indian bourses, the finance ministry has relaxed norms for foreign nationals and foreign institutional investors (FIIs) to obtain Permanent Account Numbers (PAN) that could also double as KYC (know your customer) compliance for any investment they make in Indian […]
Millionaires in India are likely to see their wealth grow by a whopping 405 percent over the next decade — the fastest in the world, according to a study by global consulting major Deloitte. “Among emerging markets in 2020, India is likely to have the highest per capita wealth among millionaires with $4.25 million — […]
Asia is likely to get richer, with the number of high net-worth individuals (HNWIs) in the region pegged to touch the 2.8 million-mark in the next four years, driven by robust economic growth, a high savings ratio and the rise of Asian exchange rates, says a report. According to a report by brokerage and investment […]
