Number of demat account holders in the country is likely to touch 25 million by 2015 from about 10 million now on growing tendency among young and middle aged persons to invest in capital market, SMC Global Securities said. “…(they are investing) not only to multiply their wealth faster and quicker but it also help […]
In a bid to better streamline the database, market regulator SEBI has operationalised a centralised web based complaints redress system where all investor complaints would be processed. “SEBI has commenced processing of investor complaints in a centralised web based complaints redress system ‘SCORES’,” it said in a circular. http://www.financialexpress.com/news/sebi-starts-webbased-complaint-system/827227/
There is some good news for bank customers. It may soon be time to bid goodbye to bad memories of being penalised for non-maintenance of the minimum balance, being charged for shifting home loans, or having struggled to recover money after failed ATM transactions http://www.business-standard.com/india/news/rbi-panel-wants-banks-to-serve-customers-better/444795/
A Parliamentary standing committee on finance has expressed concern over the increase in the number of claims rejected by the insurers. The Parliamentary committee in its 33rd report has also pulled up the insurance regulator for not maintaining any data base on the same, vital for protection of policyholder’s interest http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/parliamentary-committee-expreses-concern-on-claims-rejected-by-insurers/articleshow/9456910.cms
To prevent unauthorised trading, the Securities and Exchange Board of India (Sebi) on Tuesday asked stock exchanges to send details of transactions in equity cash and derivatives segments to investors through text messages and emails by the end of every trading day. Stock exchanges would have to provide a platform to stock brokers to upload […]
The slide in premium collection by life insurance companies continued in June. Led by a 29 per cent fall in premium collection by Life Insurance Corporation (LIC), first-year premium collections by life insurance companies fell 28.36 per cent in the April-June period, compared to the corresponding period last year http://www.business-standard.com/india/news/life-insurance-premium-mop-up-declines-28/444686/
The Insurance Regulatory and Development Authority (Irda) has decided to do away with the 4.5 per cent guaranteed annual return clause from pension products. In a draft exposure on the pension plans, the insurance regulator, while allowing more flexibility to insurers, said these products should carry an “assured benefit” disclosed at the time of issuance. […]
The Securities and Exchange Board of India (Sebi) on Monday framed a separate set of regulations for ‘alternative investments’ now classified as ‘collective investment schemes’. The new rules will apply to all hedge funds, real estate, private equity, debt, venture capital, private investment in public equity, infrastructure, social venture, strategy and small and medium enterprise […]
High networth individuals who ‘buy’ loss/profit from friendly brokers to either suppress taxable income or convert black money into white, will find it difficult to do so, from August 1. This follows the new rules on modification of client codes (the client’s trading account number), effective from Monday. Under the new SEBI rule, brokers will […]
The humble post office is all set to undergo a radical change with a proposal to convert over 1.5 lakh post offices across the nation into full fledged banks on the anvil. Telecom Minister Kapil Sibal wants to reach out to the masses in the rural areas with modern banking facilities through the post offices. […]
