Weekly Roundup – August 13

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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.

World economic outlook plunges to the lowest in the last 3-years, confirms results of World Economic Survey conducted by prominent German institution.

GSecs

China to enforce strict regulations to tackle issues of overcapacity looming large in its manufacturing sector.

Central Board of the RBI approves plans to transfer surplus profit worth Rs 658.76 billion from RBI to the Government of India.

RBI

RBI Governor intends to work by new agenda for the remnant of his term in the office, covering institution of guidelines for peer-to-peer (P2P) lending platforms and account aggregators, regulations governing bond markets operations and improvements to be effected to the marginal cost-based lending rate (MCLR) system.

stocks

India’s July retail inflation estimated to lie above the target set by RBI, owing to increase in prices of food staples.

SEBI in its capacity as the regulator of Securities Market amplified the additional exposure limits from 5% to 10%, for debt mutual funds in housing finance companies, with a view to create more space to accommodate investments worth ~50K Crores of rupees in the HFCs.

sebi1

Mutual Fund houses are set to obtain self-certification from customers by 31st August, 2016, to define the account holder’s residence or residences to meet FATCA requirements, especially in the case of folios opened on or after 1 July 2014.

MF

India Nuclear Insurance Pool launched the country’s first ever insurance policy for Nuclear Suppliers. The move seeks to develop new possibilities for rendering nuclear power plants safe for generating electricity.

InsurancePolicy

IRDA Chief urges launch of new insurance products to achieve more coverage and highlights the need to incentivize distributors sufficiently.

All insurance policies to be released as digitized e-forms, from October 1, 2016 rendering e-Insurance Accounts (eIA) as mandatory requirements for purchase or renewal of a majority of policies.

e-Insurance

 

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, NBFCs 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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