Weekly Roundup – July 23

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

Latest research rules out instability of World economy; growth rates look slow and steady, thanks to measures taken by Central banks.

GSecs

USA: EIA forecast points at gasoline demand peaking to a record high.

stocks

RBI ordains banks to step up security measures to prevent cybercrimes, asks to institute well-defined security policies to deter possible threats.

RBI

RBI might head for a rate-cut if rains manage to bring down pulses prices; CPI inflation is expected to fall in consequence.

sebi1

In a move to support the Central Government’s recapitalization plans, SEBI may exempt PSU banks from open offers, provided the entities raise more than 5% of holding in a single financial year.

MF1

SEBI directs all registered intermediaries to upload KYC data to CKYCR, for all individual accounts opened on or after August 1, 2016. The Central registry is to be managed by CERSAI.

income tax 2

Transaction costs and service taxes on brokerage for Mutual fund schemes not to exceed Total Expense Ratio limits, says SEBI; Excess costs, if any, to be borne by AMC, trustees or sponsors.

FATCA

In the wake of appropriate actions being taken against tax evasion to meet with FATCA requirements, Swiss National Bank reveals that money held by Indians in Swiss banks has dropped by nearly one-third.

MF

 

SIPs move from ECS mandates to the newly implemented NACH mandates. The centralized, web-based clearing service designed to consolidate regional ECS systems into one national payment system appear to be in want of relief from technical hitches.

 

About CAMS:

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Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 62% of assets of the industry across 16 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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