Weekly Roundup – March 19

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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…

The Reserve Bank of India has revised rules pertaining to revival of advances to small businesses. RBI asked lenders to form district-level committees to resolve stressed loans to micro, small and medium enterprises (MSMEs).

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Introduction of the Goods and Services Tax (GST ) will integrate India as “ truly one single economy” says Asian Development Bank (ADB) president Takehiko Nakao. It will help attract more foreign investments.

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In the first six months of 2016-17, the centre will borrow from the bond markets Rs.3.55 trillion, or 59% of its total borrowings for the fiscal year, Shaktikanta Das, economic affairs secretary in the finance ministry said.

Aadhaar will play a key role in lowering transaction costs as India moves towards a cashless economy, says Telecom Regulatory Authority of India (Trai) chairman R.S. Sharma.

The Mutual Fund Industry added 53 lakh folios in FY’15 , of which smaller town share is more than 50%.SEBI has also initiated discussions with commerce players to expand network of Mutual Funds.

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In a meeting with heads of Mutual Funds, SEBI has urged Mutual Funds to consolidated similar schemes so that it is easy for investor to choose a scheme

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IRDA has given intial approval to four global reinsurance majors : Munich Re, Hannover from Germany, Swiss Re from Switzerland and French major SCOR

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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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Sudarshan Ranganthan

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

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