Weekly Roundup – September 17

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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.

ASSOCHAM National council for Insurance recently hosted the 9th Global Insurance Summit 2016 – themed “Insurance: The Next Powerhouse in Financial Industry” on 16th September 2016, Mumbai. Inaugurated by the honorable Chief of IRDAI, Mr. T. S. Vijayan, the Chief Guest, the summit was attended by noted speakers and top representatives from the Indian Insurance industry.

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US Treasury Secretary lauds G20 for being instrumental in mobilizing the Global Economy and for how it had put policy tools to effective use.Income tax

Prospects for Ukrainian economy improve as IMF makes a move to hand over the nation an emergency payment of $1 billion, in a bid to support its dwindling finances.

India ranks 112 among 159 countries in the World Economic Freedom Index. The huge letdown by 10 positions as compared to 2015, is attributed to India’s  scores in terms of legal system and property rights, sound money, freedom to trade internationally and regulation.index

RBI to be mindful of low inflation rateswhile reviewing policies governing rate cuts, affirms Hon.Financial Minister of India, Mr. Arun Jaitley. A six-member MPC would serve to set the rates, he said.

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RBI unveils new rules that dictate banks to cap their credit exposure to large corporate borrowers at ₹10,000 crore per borrower, by April 1, 2019.

UCC and PAN made obligatory for all trade transactions concerning on commodity exchanges, according to a new SEBI release.

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Mutual funds register another 11 lakh folios owing to steady retail investor participation; Net inflows over INR 18,000 crores recorded in equity schemes.

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IRDAI Chief hints at International Reinsurance players beginning operations in India, from January 2017.

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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Sudarshan Ranganthan

Breaths Investments, Suggests Wealth Creation Ideas, Lives on Law Of Attraction

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