Last October's circular meant that downstream investment by such funds by way of subscription or acquisition of shares would have been considered "indirect foreign investment" if their investment manager or sponsor is owned or controlled by a non-resident. The finance ministry has now said that mutual funds that invest more than 50 per cent in equity shall be omitted from the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
Sanjay Sachdev of Shinsei Bank and Ajay Srinivasan of Prudential Corporation Asia give their views on where the markets are headed.
Biocon has tied up with ICICI Prudential Life Insurance to market its insulin, Insugen. Accordingly, the company will offer insulin at a subsidised rate to all 'diabetic care' insurance policyholders of the insurance company.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
'The number of first-time investors into MFs can grow four times more than the current rate if we are able to accept the bank KYCs.'
ICICI Prudential AMC has launched the ICICI Prudential Micro Systematic Investment Plan (MSIP) with a minimum investment of just Rs 50 per month.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
The housing finance major issued non-convertible debentures and warrants to raise another Rs 4,000.03 crore.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
PNB has rich experience in the integration of commercial banks.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
All real estate developers may not be able to avail the benefit of Reserve Bank of India's one-time restructuring scheme as they might not meet the required financial ratios and have the necessary credit rating, HDFC vice chairman and CEO Keki Mistry said. He was speaking at a real estate and infrastructure investor summit organised by Naredco. "Restructuring may not necessarily help every developer because not too many will be able to meet the criteria laid down in terms of meeting the various ratios and getting credit ratings," Mistry said.
Real estate giant DLF announced on Tuesday its tie-up with US-based financial player Prudential Financial, Inc for a foray in life insurance business and said the two partners will invest about Rs 10 billion over the next ten years in the venture.
The Modi government is notoriously honest about one fact: It does not listen to economists, observes Shekhar Gupta.
While the proposed new tax regime is optional for taxpayers, the finance minister has said the government eventually wants to do away with all exemptions with a lower tax-rate simplified structure.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
S V Ramanan, CEO, CAMS Repository Services, answered readers' queries on electronic insurance in an online chat with readers August 6
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
Chief Investment Officer of Prudential ICICI, Nilesh Shah discusses the current situation of the market in terms of inflows, valuations and the general consensus on the market.
If you want his advice on your mutual fund investments, please mail your questions to getahead@rediff.co.in with the subject line, 'Mutual Fund Query', along with your name, and Omkeshwar will offer his unbiased views.
Investors can take exposure in such schemes. Selection of funds, however, is very important
Both indices are down nearly 9 per cent from their all-time highs in mid-January. A sharp reversal seems difficult this time as the peak impact of the virus is yet to play out.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
Debt funds have exposure of nearly Rs 8,000 crore to Zee group papers. Aditya Birla MF, HDFC MF, Franklin Templeton MF, and ICICI Prudential MF have the highest exposure, reports Samie Modak.
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
The bench posted the matter for further hearing to February 21 and asked police not to take action against the ICICI officials until then.
Mahendra Singh Dhoni's inspirational leadership guided India to a memorable triumph at the inaugural World Twenty20 Championship in South Africa in 2007. With the fifth edition of the tournament set to commence on Sunday, Rediff.com takes you through Team India's thrilling triumph in the final.
'These are interesting days for watchers of English cricket and central banking,' points out Amol Agrawal.
The finance minister said easy access and efficiency in providing banking services will help in revival of businesses which are restarting operations after the lockdown.
To cut its debt, promoter Kapil Wadhawan and promoter group Wadhawan Global Capitalhave resorted to measures such as sale of assets of group companies as well as securitisation of retail assets of DHFL to bring in liquidity.
Web portal Cobrapost in its string of expose has alleged money laundering and other wrong doings by several public and sector financial institutions ranging from country's largest bank SBI to the youngest lender Yes Bank.
Who should essay the characters of the other members of that history-making Indian squad?
Leading private life insurers HDFC Standard Life, Bajaj Allianz and Birla Sun Life top the list of firms against whom consumers have filed complaints with sectoral regulator Irda for indulging in unfair business practices.
The financial crisis has challenged the intellectual assumptions on which previous regulatory approaches were largely built, and in particular the theory of rational and self-correcting markets.
