Weekly Roundup – January 14

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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.

GSecs

According to most recent World Bank reports, rapid economic progress is on the cards for the Asian countries of India, Cambodia, Laos and Myanmar.

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GST council to hold ninth meeting on Monday, January 16, to discuss and settle down on differences persisting over certain key issues.

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Government of India affirms of its respect for the autonomy and independence of the central bank of India, in a recent statement released by the Finance ministry of India.

RBI

Institute for Development and Research in Banking Technology (IDRBT), the research wing of RBI, explores the workings behind deployment of blockchain technology in banking in India.

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In a strategic move that seeks to boost the municipal bonds market, SEBI allows municipalities with surplus in their books to issue bonds dubbed ‘muni bonds’.

International Advisory Board recommends study of fee-based model for robo-based investment advisory to SEBI.

MF

Mutual funds can now be promoted through celebrity endorsements, says SEBI. Industry participants believe that the move will serve to boost penetration of mutual funds in the country.

Sources confirm that 2016 saw the highest number of demat accounts opened since 2008; increased investor awareness and rise in demand for mutual fund products cited as factors for the increased level of participation.

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In the wake of an evolving insurance market ecosystem, IRDAI institutes panel to review norms pertaining to life insurance products.

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