Why many bankers hard-sell guaranteed insurance plans
Being a bank relationship manager is not easy, especially if one has to meet a sales target that is typically in multiples of the take-home salary. These bankers have the unenvious job of convincing their high net-worth clients to invest in various financial instruments, including fixed deposits and mutual funds. However, they prefer to hard-sell guaranteed insurance plans, according to industry executives. And that is because of the huge commissions dangled by the insurance sector.

Irdai issues exposure draft on EoM for insurers based on RRC suggestions

The RRC recommended merging the commission and EOM regulations to create a single regulation instead of maintaining separate ones.

LIC inaugurates stall at 42nd India Int’l Trade Fair
Inaugurated at the 42nd India International Trade Fair (IITF) on Wednesday by Aditya Gupta, Executive Director (Corporate Communications). The occasion was also graced by Zonal Manager, Northern Zone, J P S Bajaj and other senior officials. During the 14 day period of the India International Trade Fair, in the LIC stall, information regarding various plans of the Corporation and Career opportunity for recruitment as agents will be available. Information regarding LIC’s E-services and online services will also be shared. LIC is celebrating its 57th Anniversary this year. Being one of the major financial institutions of the nation, LIC has catered to a large number of people for their lnsurance needs and has come up with better products in the changing needs and preferences of the insurable population.’

Customers can also get information regarding their policies from Policy Mitra site by accessing to the LIC website. Alternatively they can a lso get information through IVRS by dialing 022-6A276827. All policy holders can also connect for information and services of their policies through LIC whatsApp no 8976862090. In the changing scenario, the corporation through various tools has made policy servicing more easy and accessible. Policy holders can pay premiums through different online modes. Along with lnsurance, LIC also fulfills its social obligations through LIC’s Golden Jubilee Foundation that contributes towards education, medical and other social services. LIC has also been contributing towards nation building projects as well.

Why is it important to have a third-party cover in your motor insurance? MintGenie explains
 

InGovern alleges regulatory breach in ESOPs to REL Chairman, seeks regulatory probe
Proxy advisory firm InGovern Research has raised a red flag against Religare Enterprises alleging "vested interest" of its Chairman Rashmi Saluja due to excessive remuneration as well as regulatory breaches. In the last 3-4 years, the total valuation of options of Religare Enterprises Ltd (REL) and its subsidiary Care Health Insurance Limited (CARE) to Saluja is over Rs 480 crore, which is in addition to compensation paid at REL, said a report from InGovern.

Undistributed funds worth over Rs 25,000 cr with Sebi in focus after death of Subrata Roy
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi’s account have come back into focus after the demise of Sahara Group’s chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with Ponzi schemes, allegations his group always denied. In 2011, capital markets regulator Sebi ordered two Sahara Group firms — Sahara India Real Estate Corporation Ltd (SIREL) and Sahara Housing Investment Corporation Ltd (SHICL) — to refund the money raised from nearly 3 crore investors through certain bonds known as Optionally Fully Convertible Bonds (OFCDs). This order came after the regulator ruled that the funds were raised by the two firms in violation of its rules and regulations.

Subrata Roy: Who made it large, drop by drop in good and bad times
His was a story that can sound like an urban legend, but Subrata Roy literally made it large, drop by drop.

Subrata Roy personally appeared in SC in 2014, taken into custody in SEBI-Sahara case
 

PPF account: Nine important Public Provident Fund account rules and benefits
The Public Provident Fund's (PPF) tax-free returns and the sovereign guarantee of the principal and the interest earned has made it a favourite among savers. The principal invested in the PPF qualifies for deduction under section 80C of the Income-tax Act, 1961 and the interest earned is tax-exempt as well under Section 10.

Six large & mid cap schemes fail to beat benchmark in three consecutive years

Six large & mid cap schemes have continuously underperformed their respective benchmark in the three consecutive years (2020, 2021, and 2022), an analysis of yearly returns of the category by ETMutualFunds showed.

Invesco Mutual Fund changes fund managers for three schemes

Invesco Mutual Fund has announced changes in fund managers for its three equity schemes. Through a notice cum addendum, the fund house informed the investors that the fund managers for Invesco India Growth Opportunities Fund, Invesco India Midcap Fund, and Invesco India Smallcap Fund have been changed.

5 equity mutual funds multiplied lumpsum investment three times in five years

Five equity mutual fund schemes have tripled investors’ wealth in five years, data crunching by ETMutualFunds revealed. We looked at the performance of 187 equity schemes that have completed five years in the market.

Indian equities jump 1.2%, tracking global cues
 

India 10-yr bond yield drops most in 2 months as Treasury yields plunge
The Indian benchmark bond yield posted its biggest single-session drop in two months on Wednesday, following a plunge in U.S. Treasury yields on growing bets that the Federal Reserve may start cutting rates in the first half of 2024.

India benchmark yield slips below key level as US peers plunge
Indian government bond yields declined in the early session on Wednesday, with the benchmark bond yield falling to nearly a six-week low, tracking a plunge in U.S. peers, amid rising bets the Federal Reserve may not hike rates further.

Bank of Baroda board to meet on November 18 to consider infra bond issue
Bank of Baroda on Wednesday said its capital raising committee will meet on November 18 to discuss and approve the issuance of debt instruments to raise tier-I and tier-II capital.

US Treasury yields jump as revised retail sales overshadow cooling inflation
US Treasury yields rebounded Wednesday despite signs of slowing inflation after a revision of retail sales data showed strong gains in September.