Sources said that this is a contingency plan, in the event of an exit of the present heads of its two subsidiaries ICICI Prudential and ICICI Ventures. At present, Shikha Sharma is managing director & chief executive officer (CEO) of ICICI Prudential Life Insurance, while Renuka Ramanathan is managing director and CEO of ICICI Ventures.
Valuations of projects dated, says valuer. Also, angry shareholders could come together to oppose the proposed reverse merger.
While the fall in rates is certainly a good signal, is it a great idea to take a loan to purchase a home or car? Most experts felt that this may not be the right time to do so.
Most mutual fund players and life insurance companies are planning to bid for appointment as pension fund managers for all citizens after the Pension Fund Regulatory and Development Authority (PFRDA) today decided to seek expression of interest from prospective fund managers.
With a sharp dip in property prices, leading banks, including State Bank of India, are reassessing the value of properties against which loans have been granted.Sources familiar with the developments said that banks are worried that the recent fall could impact their risk valuation, if asset prices continue to fall.Banks are now worried that if rates fall further buyers may lose interest in the property, especially if they are not living in it.
Data from Value Research, a Delhi-based fund tracking firm, show that the category average returns from equity-diversified funds have been 14.5 per cent a year over this period. Banking funds, which invest in banking and other financial sector companies, have given returns of 23.66 per cent.
The category average returns from equity-diversified funds has been 14.5 per cent a year over this period. Banking funds, which invest in banking and other financial sector companies, have given returns of 23.66 per cent. Other categories that have done well are fast moving consumer goods, tax planning and hybrid (equity-oriented) funds.
The proposal to scrap 'indicative portfolios' has arisen because investors have sometimes found deviations of as much as 80 per cent between the indicative and actual portfolios. In some cases, the entire corpus has been invested in a single instrument. Sebi will also consider Amfi's suggestion of a 3 to 6 per cent exit load for FMPs, a minimum tenure of three months and a faster processing of redemption payouts,
Sebi likely to come out with a policy paper soon.
Though the fund houses have garnered over Rs 1,500 billion from investors, only 8-10 would declare their monthly FMP portfolios till a few months ago. Instead, they gave 'indicative portfolios' and 'indicative returns' to the potential investor. This month, all fund houses declared the portfolios of their schemes because of the half-yearly results. And, to the horror of many investors, the real portfolios were 80-90 per cent different from the 'indicative portfolios.'
In upmarket areas like Bandra and Khar, the going brokerage is as high as 4 per cent
Last week was unprecedented in the history of the Indian mutual fund industry-- the net asset values (NAVs) of nearly a dozen liquid-plus funds fell.
Fixed maturity plans, which have garnered Rs 102,133 crore (Rs 1021.33 billion) of average assets under management, are facing the prospect of rising defaults on their investments in the real estate and non-banking financial companies. This implies that if there are redemption pressures from their corporate and retail clients, these FMPs would have to raise cash from other resources to meet the demand.
Prospective home buyers, who are looking forward to discounts this festival season, may be in for a rude shock. According to banking sources, most banks are unlikely to offer any discount.
In times like these, when the financial industry is reeling under the pressure of scepticism, communication has become the most important tool for financial services providers. Hence the flood of emails to associates, employees and investors.
In a move to soften the blow of Lehman Brothers' bankruptcy in the Indian stock and asset markets, four banks are set to take over its structured products businesses in India.
Home loan borrowers perpetually worry about the consequences of defaulting. And whether they wish it or not, there could be situations where they are forced to do so. For instance, after the Mumbai bomb blasts on July 11 2006, a large number of affected families found themselves in deep financial trouble leading to difficulties in servicing their home loans
Most car buyers, when applying for a loan, grapple with the question of whether they should opt for a fixed or a floating rate option.
While gold index funds have returned almost 10 per cent over the last three months, gold equity funds (investing in mining companies) have not given good returns in the last few months. At present, there are two gold funds, DSPML World Gold Fund and AIG World Gold Fund
Stock market investors and potential home buyers may not remember the years 1998 and 2008 too fondly.
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