Weekly Roundup – June 18

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…

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IMF annual report predicts Brexit induced recession to hit UK by 2017, urges initiation of monetary tightening. The report lists Ireland, Malta, Cyprus, Luxembourg, the Netherlands and Belgium among countries to be worst hit by the likely fallout.

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RBI eases registration procedure for new NBFCs, brings down document checklist from 45 to eight. Subsequently, two distinct sets of applications to be issued for non-deposit taking NBFCs (NBFC-ND) based on Sources of Funds and Customer Interface.

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RBI to engage in talks with Finance Ministry and Banks on creation of funds to resolve Stressed Assets. In an attempt to resuscitate troubled investments with debt and equity funds, two special funds, namely Stressed Assets Equity Fund and Stressed Assets Lending Fund are to be drawn up.

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SEBI seeks to reduce the Expense Ratio ceiling in favor of MF investors. In a bid to to reduce MF investment costs to suit public sentiments, the existing TER of 2.5% to be brought down to 2%.

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SEBI to relax norms for Portfolio managers and REITs, in a move that would encourage relocation of offshore fund managers India and to boost more activity in the real estate sector. Consultation papers on relevant regulations concerning portfolio managers and REITs to be released soon.

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Fast-track approvals for a variety of new insurance products indicate IRDA’s resolve to increase life insurance penetration in India. The institution is all set to bridge the protection gap and enhance levels of protection, with cut in premium rates and more.

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Now it might be the Insurance Sector’s turn to look at consolidation. Listing on stock exchanges might follow, say experts.

 

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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