How to buy the right insurance from an agent or a broker? How to avoid mis-selling? Sharad Bajaj answers
Sharad Bajaj, Founder & CEO, InsuranceDekho, says “the consumer who is buying the product should not be pressured. They should clearly understand the particular product which they are buying, what are the terms and conditions and what are the exclusions in those products. They should look at whether the coverage that is being suggested to them would be sufficient or not. ”

Insurance Ombudsman in Kolkata resolves 100% complaints in FY23
Kolkata: Bima Lokpal Day is celebrated every year on November 11 to mark the foundation day of the Institution of ‘Insurance Ombudsman’. In 1998 on this day, the GoI had notified the ‘Redressal of Public Grievances Rules’. Insurance Ombudsman is a quasi-judicial Grievance Redressal Machinery to redress complaints of insured persons against Life, Non-Life and standalone Health Insurance companies and brokers. The main objective is for resolution of insurance complaints in a cost effective, efficient and in an impartial manner. In the year 2017, GoI notified new rules in the matter called ‘Insurance Ombudsman Rules, 2017’.

An insurance stock and a media player get ready for a 6% show
Friday’s session started with a reaction to the Reserve Bank of India (RBI) making the norms stricter on unsecured loans. The financial services and banking stocks grossly underperformed the broader markets. However, the NIFTY chose to just consolidate in a tight range. It saw a lower opening but formed its day’s low point in the early seconds of the session. It crawled into the positive territory by late morning trade. However, it lost ground gradually after that. In the end, the headline index closed with a net loss of 33.40 points (-0.17%).

Karnataka Bank inks pact with HDFC Life to distribute life insurance products
Mangaluru-headquartered private sector lender the Karnataka Bank has entered into a strategic corporate tie-up with HDFC Life to offer life insurance products to its customers.

Unveiling the truth behind Saluja’s CARE Health ESOPs
Religare’s Board of Directors on Monday asserted that the ESOPs of CARE Health Insurance, a subsidiary of Religare Enterprises, granted to Rashmi Saluja was above board and in full conformity with the insurance regulator IRDAI’s guidelines. The CARE Health Insurance ESOPs were granted to Rashmi Saluja only in her capacity as an employee/ executive director and Chairperson of Religare Enterprises Ltd (REL), the Board of Directors of REL said in a statement.

Niva Bupa seeks to have gross written premium of Rs 10,000 cr by FY27
Niva Bupa Health Insurance Company has said it expects to achieve a gross written premium (GWP) – an industry metric for total revenue – of Rs 10,000 crore by 2026-27, up from Rs 4,070 crore in 2022-23.

How to enhance your health insurance cover with top-up and super top-up policy? MintGenie explains
Consider this scenario: Did you buy a health insurance cover of Rs. 3 – 5 lakhs for your family a few years back? At that time, the cover amount would have been adequate, but not today. Consider another scenario: Your employer provides you a health insurance cover of Rs. 3 – 5 lakhs for your family, or you are covered for a similar amount under a State Government health insurance scheme. 

Confused, surprised with investor interest in F&O: Sebi chairperson
Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch came down hard on retail investors dabbling in the future and options (F&O) market and said that she is ‘confused and surprised’ at their interest despite evidence suggesting that 90% losing money in the segment.

SEBI chief urges investors to take long-term view of markets to beat inflation rate
Mumbai: SEBI Chairperson Madhabi Puri Buch on Monday urged investors to invest on a long-term basis as it would help in wealth creation, beat inflation and provide real rate of returns.

SAT expects rigorous probe, very difficult to catch fin influencers: Ashwani Bhatia
Mumbai: It is "very difficult" to catch financial influencers as the Securities Appellate Tribunal (SAT) expects rigorous investigation, Sebi's whole-time member Ashwani Bhatia said on Monday. Sebi orders can be challenged before the tribunal.

EPFO adds 17.21 lakh net members in September
Retirement fund body EPFO recorded a net addition of 17.21 lakh members in September, according to payroll data released on Monday. Month-on-month comparison of payroll data shows an increase of 21,475 net members over August 2023, a labour ministry statement said. Year-on-year comparison of payroll data reflects an increase of 38,262 net members over September 2022.

EPFO disburses Rs 48,000 crore Covid advance to over 22 million subscribers in 3 years

Over 22 million subscribers or more than one-third of the total subscribers of the Employees’ Provident Fund Organisation benefited from Covid advance from their retirement savings in the three fiscal years starting from 2020-21 amounting to Rs 48,075.75 crore, shows the draft Annual Report 2022-23 of the EPFO.

NFO collection surges 4 times to Rs 22,000 crore in Sep quarter
Mutual funds' collection through new fund offerings (NFOs) surged nearly four times to Rs 22,000 crore in the July-September period this fiscal compared to the preceding quarter as 48 new schemes hit the market. Going forward, more NFOs can be expected in the coming quarters as several AMCs become operational and offer similar and differentiated products to the equity and debt investors, Gopal Kavalireddi, Vice President of Research at FYERS, said.

Unifi Capital gets SEBI nod to launch MF business
Mumbai: Unifi Capital has received market regulator SEBI’s in-principle approval to launch mutual fund business. Established in 2001 as a registered portfolio manager, Unifi currently manages over ₹20,000 crore on behalf of about 10,000 Portfolio Management Services and Alternative Investment Funds clients across 22 States in India.

Kotak Mutual Fund launches Kotak Healthcare Fund
Kotak Mutual Fund has launched Kotak Healthcare Fund, an open-ended scheme that will invest in pharma, healthcare and allied sectors.

New Fund Offer: DSP Mutual Fund launches Banking and Financial Services Fund. Check details
DSP Mutual Fund has announced the launch of DSP Banking & Financial Services Fund (DSP BFSF), which is an open-ended scheme that offers investors an opportunity to partake in the long term structural opportunity in the banking and financial services space. 

DSP Mutual Fund launches DSP Banking & Financial Services Fund
DSP Mutual Fund announced the launch of DSP Banking & Financial Services Fund, an open-ended scheme that offers investors an opportunity to participate in the long term structural opportunity in the banking and financial services space.

Bajaj Finserv Balanced Advantage Fund launched
Bajaj Finserv Mutual Fund has announced the launch of Bajaj Finserv Balanced Advantage Fund, an open-ended dynamic asset allocation fund suitable for investors wanting to invest in equity and equity-related instruments including derivatives, and fixed income instruments.

Bajaj Finserv AMC launches Balanced Advantage Fund – Check details
Bajaj Finserv Asset Management has announced the launch of Bajaj Finserv Balanced Advantage Fund (BAF) – an open-ended dynamic asset allocation fund suitable for investors wanting to invest in equity and equity-related instruments, including derivatives and fixed income instruments.

Longer term growth for private banks can be faster than industry: Karthikraj Lakshmanan, UTI AMC

Private banks is one space where longer term growth can be faster than industry and the banking industry itself could grow faster than the nominal GDP, believes Karthikraj Lakshmanan, senior VP and fund manager - equity at UTI Asset Management.

Birla MF garners ₹200 crore via passive NFO
 

TVS Capital Funds appoints Ramesh Iyer as Board Member
A rupee capital growth PE fund manager TVS Capital Funds has appointed Ramesh Iyer as a Board Member. As the Vice-Chairman and MD of Mahindra Finance, Iyer's primary responsibility has been to promote inclusive growth and foster rural prosperity.

Indian pvt banks make largest single-day govt bond purchase in 7 years
Indian private sector banks made the largest single-session purchase of government bonds in seven years on Friday, including a big investment on behalf of a corporate, traders said.

India's tougher personal loan rules may force some NBFCs to tap bond market
Indian non-banking finance companies (NBFCs), including Bajaj Finance, L&T Finance and SBI Cards and Payment Services, are likely to tap the bond market to raise funds following the central bank's tighter rules for personal loans, six banking sources told Reuters.

Jio Financial Services in talks for maiden bond issue to raise Rs 5,000-10,000 crore: Bankers
India's Jio Financial Services is in early talks with merchant bankers for its maiden bond issue, four bankers told Reuters on Monday.

AMC Repo Clearing in talks with Sebi to cut costs

Mumbai: AMC Repo Clearing is in talks with the Securities and Exchange Board of India (Sebi) to find ways to bring down operational costs related to taxation rules and the role of intermediaries on the tri-party repo platform, which the government is banking on to deepen the corporate bond market.