Weekly Roundup – December 19

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CAMS brings to you the important happenings in the BFSI segment during this week. In this weekly roundup, we will attempt to cover key events, milestones, regulatory updates that have an impact on the BFSI sector in India and the world.

China’s slowdown is affecting Asian countries that have strong trade linkages. Indonesia’s rupiah, South Korea’s won and the Singapore dollar are projected to decline in the coming year, India’s rupee is expected to decline the least.

RBI announces new rules for lending rates for banks. The new rule will make the loans cheaper for new borrowers, starting April 1.

Foreign insurance companies have started to increase their stake in India, after the Insurance Laws (Amendment) Act, 2015. Richard Holloway and Sanket Kawatkar of Milliman India Pvt.Ltd., an actuarial services company speak about the need to improve the participating business in India.

The coming year will be a challenging one for India’s stock markets, say equity fund managers. However, the belief is that 2016 will be a better year for returns.

The Mutual Fund sector has been more selective this year on new scheme launches. This year, fund houses have had 53 NFOs while last year a record number of 75 schemes were launched.

With the number of natural catastrophes such as cyclones and floods increasing, the insurance premiums for property and catastrophe in 2016 is likely to shoot up.

After the recent implementation of FATCA in India, many US based non-resident Indians are considering selling their property in India.

United Nations Development Programme (UNDP) released the Human Development Report for 2015. One of the facts from this report include; India was among those countries in which 80 percent women did not have access to bank accounts in 2014.

IRDAI is working on putting in place a system to facilitate uniform KYC. Currently separate KYCs are required to buy a term insurance plan and a health insurance plan
About CAMS:

Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 60% of assets of the industry across 15 Mutual Funds. Leveraging superior technology, CAMS brings several innovative services to Mutual Fund investors and distributors. CAMS is also is a service partner to leading insurance companies, banks, NBFC’s and private equity funds. To know more visit www.camsonline.com .

 

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Published by

Sudarshan Ranganthan

Breaths Investments, Suggests Wealth Creation Ideas, Lives on Law Of Attraction

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