Weekly Roundup – July 30

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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.

US economy registers growth of mere 1.2% in the quarter ended June; prospects for rate hikes is nil.

stocks

ICRA confirms that RBI plans no changes to be effected on rates in the upcoming review on monetary policy. Positive prospects for economic growth have rendered changes to rates unlikely, cite sources.

RBI

Rupee gains 0.49% against Dollar in four consecutive days, ending Friday; Reference rates for dollar have been set at 67.0340 and euro at 74.2737.

income tax 2

SEBI brings in array of changes to simplify listing norms for startups, allowing the entities to list on ‘High-tech Start-up & Other New Business Platform’, the discrete institutional trading platform for start-ups.

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With reports predicting India’s digital payment market to reach 500 Billion USD by 2020, SEBI engages with RBI to draft guidelines to regulate e-wallet based transactions in Mutual Funds, in an effort to magnify access and participation in Mutual Fund Investments.

MF1

Subscription to mutual funds in India, from retail investors, hits the highest in the last six years, confirm recent Industry reports, indicating growing preference for equities as an investment option among investors in the country.

 MF

 

IRCTC all set to launch new travel insurance, to all classes of travel and all e-tickets, with the exception of sub-urban trains. Railway passengers may have the option to avail the IRCTC travel insurance covering upto INR 10 lakh at a Re.1 premium, from September 1st 2016 onwards.

insurance

 IRDA asks life insurance companies to withdraw indemnity-based health insurance offerings. Policyholders to be given 3 months’ notice, on account of the withdrawal.

 

 

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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