Weekly Roundup – January 23

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CAMS brings you a weekly glimpse into the key news in the BFSI sector, both in India and abroad. Regulatory updates or important news, here are some which might have had an impact on the sector…

 

make in india

India looks at inviting overseas investment at the World Economic Forum 2016 – Davos, with the ‘Make in India’ mantra. India is now looked on as the world’s fastest growing economy with its equities and bonds being favourites.

 

accounts

AMFI may ask the fund houses to disclose the individual distributor commission in the account statements sent to investors

 

SEBI is looking at reducing the total expense ratio charged by AMCs for managing investor monies, to bring down mis-selling in the industry.

 

RBI

 

RBI has created a central fraud registry – a searchable database that will help banks detect instances of fraud by borrowers at an early stage.

 

InsurancePolicy

 

IRDAI Chairman TS Vijayan asked insurers to avoid the practice of converting insurance policies with more than five year or less into regular premium policies.

A robust proprietary channel is necessary for sustained growth of the insurance sector according to a BCG report. It is likely that India is the only large country in the world with a fixed cost agency channel, mentions the report.

The IRDAI has received six applications from foreign reinsurance companies for opening branches in India. These include Swiss Re, Munich Re, Catlin among others.

 

MF

 

SEBI has simplified the electronic verification process, where Mutual Fund houses and market intermediaries can verify client credentials through the Unique Identification Authority of India – Aadhaar.

GSecs

 

Debt fund managers in India have cut allocation to Government Securities (G-Secs) by nearly 140 basis points in the past quarter, as they foresee a more bearish outlook.

 

 

About CAMS

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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 a service partner to leading insurance companies, banks, NBFC’s and alternate investment 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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