The finance ministry has decided to allow foreign direct investment (FDI) in proprietary trading, despite the Reserve Bank of India’s (RBI’s) opposition. RBI feels allowing foreign companies into this business may affect financial stability. The ministry, however, felt since foreign companies were willing to invest their own money, they should be allowed to do proprietary […]
In an attempt to manage the volatile capital flows, the finance ministry today allowed foreign individuals to invest up to $10 billion in domestic mutual funds. The Securities and Exchange Board of India (Sebi) will notify the rules by August 1. The move was announced in the Budget. At present, besides resident Indians, only foreign […]
Corporate treasuries with large cash reserves have started allocating money to equity funds as they expect stocks to perform well over the next two years, fund industry sources said. The past two months have seen several cash-rich companies increasing their exposure to stocks through investments in equity mutual funds. Corporates such as ITC, Hindustan Zinc, […]
New business premium income of life insurers declined in the first two months of the current fiscal as stringent regulations on sale of Unit-Linked Insurance Plans (Ulips) continued to weigh on the industry. Life insurers’ income from selling new po LIC )ies declined 12.3% year-on-year in April-May to Rs 12,253 crore, according to data from […]
Insurance regulator IRDA has postponed the implementation of portability of health insurance products by three months to October 1. “The Authority will implement portability of health insurance policies across non life insurers in the country not later than 1st October 2011,” Insurance Regulatory and Development Authority (IRDA) said in a news release. http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/irda-defers-health-insurance-portability-launch-to-october-1/articleshow/9006544.cms
IRFC, NHAI, Hudco and others to hit the market in next few months. At least six state-owned infrastructure companies are likely to hit the market with two different tax-saving instruments in the next few months. The first of these may do so by mid-July, according to sources http://www.business-standard.com/india/news/six-infra-psus-to-issue-tax-exempt-bonds/440577/
