The insurance regulator wants the removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players. Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players, depending on the size of the business and operations. According to the current norms, insurers are required to have a minimum paid-up capital of Rs 100 crore.
The plan offers comprehensive hospitalisation benefits for the whole family of the principal insured. A unique feature of this plan is that it also offers to cover the parents in-law of the principal insured besides spouse, minor children and parents
The solution for railways lay in understanding the strengths of the system,
The right investment at the right age will help you enjoy a secured post retirement life.
Nikunj Saraf, Vice President Choice Wealth, answers your mutual fund queries.
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
It is in no way a government of the economic Right. The Right is limited to religion and nationalism. The rest is as Left as the Congress or any other party, observes Shekhar Gupta.
By refocussing on equity-linked products, LIC has managed to turn in some splendid numbers.
Government is expected to rely more on divestment proceeds to keep the fiscal deficit in check
RSS-aligned Bharatiya Mazdoor Sangh (BMS) on Monday expressed disappointment over the government's budget proposals with regard to divestment and foreign direct investment, especially in the insurance sector. The BMS, however, lauded the government for its current efforts on the massive vaccination programme, a special scheme for tea workers in West Bengal and Assam, labour oriented push on infrastructure projects in construction sector and development of five major fishing harbours viz. Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat as hubs for economic activities etc. On other Budget proposals, it said in a statement that "mixing the beautiful concept of Aatmanirbhar Bharat with FDI and disinvestment in the Union Budget is disappointing for the employees".
On the capital raising, where there are reports of the bank needing at least Rs 20,000 crore to spring back to normalcy, Yes Bank administrator Prashant Kumar declined to give an estimate of the requirement but said it would like for most of the fund raising to happen in the first round itself.
The finance ministry has proposed to decriminalise a host of minor offences, including those relating to cheque bounce and repayment of loans, in as many as 19 legislations to help businesses tide over the crisis caused by the coronavirus outbreak. The 19 legislations include Negotiable Instruments Act (cheque bounce), SARFAESI Act (repayment of bank loans), LIC Act, PFRDA Act, RBI Act, NHB Act, Banking Regulation Act and Chit Funds Act.
'We remain positive on technology, private sector financials, gas, infrastructure, and export-oriented plays.'
Much of the tardy reaction to competition is the result of LIC's legacy.
Notional losses on insurer's PSU shopping spree at Rs 3,038 crore (Rs 30.38 billion) or 25 per cent of investment.
After a stellar run in 2021 that saw the S&P BSE Sensex and the Nifty50 clock gains of 20 per cent and 22 per cent respectively, global equity markets, including India, are gearing up to welcome 2022 on a cautious note. For one, new variants of the Covid -19 infection that make current vaccines less effective is one of the key risks worth flagging, analysts said. Inflation was also a risk for this asset class in 2021, although most market participants expect that the current elevated inflation levels will be transitory.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
The LIC and some PSU general insurers are expected to maintain dominant position in the coming years even in the liberalised scenario, ICRA said in a research report.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
About Rs 4,257 crore worth of bids have been received so far and the Centre hopes that retail investors - those investing up to Rs 2 lakh - will place bids worth at least Rs 750 crore.
The share of public sector undertakings (PSUs) in the total market capitalisation of listed companies--at an all-time low of 10 per cent currently --- may get a leg-up from the government's divestment push. Recently the government announced the successful sale of national carrier Air India to Tata Sons, India's first privatisation of a PSU since 2002-03. The transaction is expected to be completed by December.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'So you have welfare programmes, you reach out to the poor, you cut out the middlemen, you cut out the leakages and you try to raise the standard of living.'
'Earning expectations remain strong.'
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Though the number of Japanese foreign institutional investors in India is still negligible, it's significant that 8 of the 11 registered with Sebi entered in the past year and a half
'I'm 79 + now, and I've been doing all this since my late 20s.' 'Sometimes the ideological war extends to the home as well.' 'Many nights I couldn't sleep when someone close to me uttered the smallest insult.' 'It would cause me a lot of pain. But one has to be honest to oneself.'
Keki Mistry, bottom, left, vice-chairman, Housing Development Finance Corporation (HDFC), tells Joydeep Ghosh that debt fund investors could become risk-averse, leading to problems for other non-banking financial companies.
These products are extremely transparent and are the lowest charged products in the insurance space. The policyholder has to only pay the fund management charge. Hence, from the cost side, ULIPs are very competitive.
Wondering if mutual fund investments can help you make you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
People who have recovered from coronavirus infection will have to wait for up to three months before they can take a new life insurance policy, with insurers making the waiting period requirement applicable for coronavirus cases like other ailments. As a standard practice, all life and health insurance companies require people to wait for a specific period with respect to certain ailments and diseases to gauge the risk before selling a policy. This condition of waiting period for people who have recovered from coronavirus infection will be applicable only for life insurance policies.
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