Weekly Roundup – May 7

weekly-roundup-fallout-free-edition-660x330CAMS 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…

Bankruptcy bill gets green signal from Lok Sabha which aims to defuse the crisis of the looming bad loans in the banking sector.  Another round of test waits in Rajya Sabha next week.

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RBI unveiled the draft guidelines to apply for on- tap bank licenses. NBFCs, individuals, groups with finance biz can be eligible to apply for license while, many top business houses including the Tatas, the Bajajs, the Ambanis and the Mahindra may not be eligible.

RBI

 

SEBI’s response gave blow to National Stock Exchange’s (NSE) plans for either self-listing or direct supervision. SEBI cleared that present regulatory framework does not provide for self-listing.

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In a move to tap the increasing demand from retail investors, mutual fund houses have filed proposals with markets regulator SEBI. Proposals include 35 New Fund Offers (NFO) from various mutual fund houses.

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The Securities and Exchange Board of India (SEBI) is to accept most of the Murthy panel suggestions. Market regulator is likely to relax the rules for investing in alternative investment funds (AIFs).

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Insurance regulator IRDAI gave approval to 16 proposals worth Rs 14,591.9 crore as foreign investment. The decision was followed by amendment on Indian Insurance Companies (Foreign Investment) Rules to allow foreign investment up to 49 per cent through automatic route in the insurance sector

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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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