LIC gets GST demand order with interest & penalty worth ₹183 cr for Telangana
The Life Insurance Company (LIC) on Monday received a GST demand order with interest and penalty worth Rs 183 crore for Telangana.

Hinduja Group looking to transfer part of Reliance General stake to domestic LLP
Mumbai: Pending the takeover of Reliance Capital by the Hinduja Group, the latter is looking to offload part of its stake in the general insurance arm to a domestic arm Aasia Enterprises to abide by regulatory norms on foreign ownership in the insurance sector. Regulatory guidelines cap foreign ownership in Indian insurance companies at 74 per cent of the equity share capital. Currently, Reliance Capital holds a 51 per cent stake in Reliance General Insurance, whereas Nippon Life holds the remaining 49 per cent, sources told businessline.

Hinduja’s stake transfer plan hits Irdai roadblock! Regulator objects, calls application ‘premature’
A move by Reliance General Insurance (RGICL), a subsidiary of Reliance Capital (RCap), to transfer its 25% stake to a Hinduja group company has hit a roadblock following objections raised by the insurance regulator.

Bajaj Allianz Life Insurance unveils Life Ace-Increasing Income plan; details here
Bajaj Allianz Life Insurance has introduced a variation of its participating savings plan, providing customers with a stream of increasing income while also protecting against the impact of rising inflation.

What ails India’s approach to Universal Health Coverage
 

SEBI proposes slashing NCD face value from Rs one lakh to Rs 10,000
Mumbai: The Securities and Exchange Board of India (Sebi) has proposed to permit companies to issue non-convertible debentures (NCDs) and non-convertible redeemable preference shares (NCRPS) with the face value of Rs. 10,000 as against the current system of Rs one lakh face value.

EPFO invested Rs 27,105 cr in exchange trade funds in Apr-Oct: Labour Min
Retirement fund body Employees' Provident Fund Organisation (EPFO ) has invested Rs 27,105 crore in exchange-traded funds (ETFs) during the current fiscal till October, Parliament was informed on Monday.

No proposal under consideration to revert to Old Pension Scheme, says FinMin
New Delhi: The Centre informed the Lok Sabha on Monday that there is no proposal to date to consider restoring the Old Pension System (OPS) for its employees. It also reiterated that the law does not permit refunding the back-accumulated money of employees to the State government in case of going back to OPS.

Indian mutual fund industry posts 93% growth in net inflows, 21% YoY growth in Assets under Management in November 2023
The Indian mutual fund industry recorded net inflows growing by 93 per cent at Rs 25,616 crore in the month of November 2023, as against Rs 13,264 crore in November 2022, said a report by ICRA Analytics. While debt mutual funds witnessed net outflows, equity mutual funds (open ended) as a category witnessed 588 per cent growth in net inflows on a year-on-year basis.

AMFI rejig: Large-cap cut-off up at ₹66,700 cr on stellar rally
Mumbai: Thanks to the mind-blowing rally in the equities, the market capitalisation cut-off for large-cap classification by the Association of Mutual Funds in India has zoomed 34 per cent to ₹66,700 crore as on date from ₹49,700 crore in July. Similarly, the market capitalisation cut-off for mid-cap classification has risen to ₹21,900 crore against ₹17,400 crore in July. The bellwether Sensex had rallied 3,401 points to 69,929 on Monday from 66,528 points in July.

Axis MF raises ₹600 cr in debt fund NFO
Mumbai: Axis Mutual Fund has raised over ₹600 crore from the Axis Fixed Term Plan Series 118 (100 Days). The fund closed for subscription on December 4. Benchmarked against the CRISIL Ultra Short Term Debt Index, it is a close-ended debt scheme with a moderate interest rate risk and moderate credit risk. The current yield curve, spreads on high-quality money market instruments and the prevailing market sentiments offer an ideal opportunity for fixed income investors looking for short-term parking solutions.

Angel funds may soon get to invest more in startups boosting system
Mumbai: Angel funds are likely to get a bigger play in the coming days. These pooled vehicles could be given the opportunity to take larger bets on startups whose early-stage plans they bankroll.

Best large cap mutual funds to invest in 2024
Many mutual fund advisors are recommending investing in large cap schemes in the coming year. They believe that the large cap category may do well as the market is entering into the expensive territory. They reason that the stock market is at an all-time high and the market is likely to become volatile. If you are a conservative investor looking to invest in relatively safe equity mutual fund schemes to achieve your long-term goals, you should consider investing in large cap mutual funds. However, before that you should familiarise yourself with large cap mutual funds and the prevailing conditions in the stock market.

LIC to infuse ₹25 crore in LIC MF
Life Insurance Corporation’s board on Monday approved capital infusion of ₹25 crore in LIC Mutual Fund Asset Management Ltd (LIC AMC) on a preferential basis. LIC informed the stock exchanges of the investment decision on Monday. Currently, LIC has 45 per cent stake in LIC AMC, followed by LIC Housing Finance at 39.30 per cent, GIC Housing Finance at 11.70 per cent and Union Bank of India at 4 per cent. In July this year, LIC Mutual Fund completed the takeover of IDBI Mutual Fund and merged schemes with effect from July 29. 

ARCs shift focus to retail loans
Asset reconstruction companies (ARCs) are increasingly focusing on recovering retail loans as lenders have largely cleaned up their corporate book in recent years.

Tata Mutual Fund files draft documents for four ETFs

Tata Mutual Fund has filed draft documents for four ETFs: Tata Gold Exchange Traded Fund, Tata Silver Exchange Traded Fund, Tata Silver ETF Fund of Fund, and Tata Gold ETF Fund of Fund.

The average investment value per SIP investor rise to record high

Mutual fund investors using the systematic investment plan (SIP) route are having their moment in the sun as gradual small contributions over the years have grown to a sizeable corpus riding on the market rally and driving a positive impact of notional wealth gain, which typically boosts private consumption and premiumisation for companies.

RBI's prolonged pause hint may be a good time for long duration debt funds

Fixed-income investors could buy mutual fund debt schemes that bet on medium and long-term bonds in a staggered manner as fund managers believe interest rates have peaked with the Reserve Bank of India on an extended pause in its monetary policy stance.

18 equity mutual fund schemes offer over 30% in three years

Around 18 equity schemes have offered more than 30% in three years, an analysis by ETMutualFunds showed. ETMutualFunds analysed the daily rolling returns of 302 equity schemes that have completed three years.

Azure Power Global to buy back some bonds
Mumbai: Azure Power Global, owned by Canada's CDPQ and OMERS Infrastructure, has received support from 99% of bondholders for its proposal to repurchase a portion of bonds issued by two of its units at their face value.

Higher govt spends can give a liquidity boost sans rate cut

Overnight money market rates could ease next month, as the Reserve Bank of India’s latest policy tone suggests that it could tolerate funds flowing to the system through government spending as long as durable liquidity keeps reducing, in line with the central bank’s inflation targeting aim.

Hedge funds went on stock-buying spree ahead of job data: Morgan Stanley
Global hedge funds went on a stock-buying spree just ahead of a U.S. jobs report that drove the S&P 500 and Nasdaq to their highest closing levels since early 2022, a Morgan Stanley's prime brokerage note showed.