GST Authority imposes Rs 36,844 penalty on LIC
Life Insurance Corporation on Wednesday said the GST Authority has imposed a fine of Rs 36,844 on LIC for lower payment of taxes. The corporation has received a communication/demand order for collection of GST, along with interest and penalty for Jammu & Kashmir state, LIC said in a regulatory filing.

We expect Religare insurance business to grow to Rs 8000 cr: Vinit Bolinjkar
"Today their book is down very to Rs 1000 crore, Rs 1500 crores. So, we believe that going ahead they already have that technology backbone in place," says Vinit Bolinjkar, Ventura Securities.

Bharti proposes to acquire its JV partner AXA's 49% stake in Bharti AXA Life Insurance
Bharti Group on Wednesday said it has entered into a binding agreement with its joint venture partner AXA to acquire its 49 per cent stake in Bharti AXA Life Insurance. Post transaction, Bharti Life Ventures Private Limited (BLVPL), the holding company of Bharti AXA Life Insurance Company, will own 100 per cent stake in the life insurer.

Goldman Sachs-backed InsuranceDekho to raise $60 million
 

Noise partners with Aditya Birla Health Insurance to advocate health and wellness through tech
Noise, smartwatch and connected lifestyle brand, announced its partnership with Aditya Birla Health Insurance, the health insurance joint venture of Aditya Birla Capital, a leading diversified financial services company in India. The partnership aims to further enhance the digital experience of the ABHICL policyholders and provide more tech-enabled solutions to monitor their health and fitness activities thereby helping them in their journey to lead healthier lives.

InsuranceDekho bags USD 60 mn, value pegged at USD 700-750 mn
InsuranceDekho, an Insurtech player, said it has raised $60 million in its ongoing Series-B funding round through a mix of equity and debt.

Sebi resolves over 3,700 complaints through SCORES in September
Sebi has disposed of 3,705 complaints against companies and market intermediaries through its online grievance redressal system SCORES in September, according to the data released by the regulator. As many as 17 complaints were pending for more than three months on SCORES as of September end, involving 12 entities such as Principal Mutual Fund and JM Financial Ltd.

Sebi extends timeline till September 2025 for investment advisers to comply with qualification, experience rule
Capital markets regulator Sebi on Wednesday extended the timeline by two years till September 2025 for compliance with enhanced qualification and experience requirements for investment advisers.

Formal job creation under EPFO dips 14.5% in April-July

New Delhi: The pace of formalisation of workforce under the Employees’ Provident Fund Organisation in the four months of the current fiscal (April-July) slowed with one million less formal jobs created under the retirement fund body compared to the same period last year, official data showed.

SBI MF gets nod to buy up to 9.99% in IndusInd
The Reserve Bank of India (RBI) on Wednesday allowed SBI Mutual Fund to acquire up to 9.99% stake in IndusInd Bank, the latter said in an exchange filing.

Small Cap and Mid Cap Mutual Fund net inflows declined in September. Here’s why
The net inflows into small-cap and mid-cap equity mutual funds declined marginally month-on-month in September 2023, according to AMFI data.

SIPs top Rs 16K-cr inflows in September: AMFI
Systematic investment plan (SIP) contributions crossed the Rs 16,000-crore mark for the first time, in September, shows data from the Association of Mutual Funds in India (AMFI).

When is the right time to exit a mutual fund & what are the tax implications? Shilpa Bhaskar Gole explains
Shilpa Bhaskar Gole, Founder & Chief Financial Wellness Coach, NerdyBird Financial Wellness, says “when you are reviewing your portfolio, what are some of those reasons which could lead you to having an exit strategy? I find in my area of work that there are four or five typical reasons why people will want to exit from the mutual fund. One question that I get asked most often is, I am invested for a long-term goal. You were also mentioning mutual fund as a long-term strategy. When is a good time for me to get out of this mutual fund and redeem my amount? That is number one.”

MF equity inflow dips 31% as investors prefer to book profit
Mumbai: Inflows into equity schemes dipped 31 per cent in September to ₹14,019 crore against ₹20,245 crore in August as investors preferred to book profit given the global economic uncertainty.

Equity mutual fund flows drop 30% in September
Mumbai: Flows into equity mutual funds in September fell 30% from the previous month on account of a drop in appetite for mid-cap and small-cap funds and outflows from large-cap schemes. Investments into funds through Systematic Investment Plans (SIPs), however, continued at a record pace as investors saw more merit in putting money into schemes in a staggered manner amid concerns that the current levels may not sustain.

Large index funds underperform in first half of 2023
Large index funds continued to underperform in the first half of 2023 with 58 per cent large cap funds failing to beat their underlying indices and the overall underperformance being as high as 85.2 per cent. According to S&P Dow Jones Indices -- a leading index provider globally -- the underperformance rates for the domestic equity and bond mutual funds have been elevated over the past three- and five-year periods.

HDFC AMC Q2 Results Preview: Net profit may rise 11% YoY to ₹404 crore; revenue growth seen at 15%
HDFC Asset Management Company is set to report its earnings for the quarter ended September 2023 on Thursday, October 12. HDFC AMC is the mutual fund investment company and an arm of HDFC Bank.

Factor investing can offer enhanced returns: Chintan Haria of ICICI Prudential Mutual Fund
Are you keen on revamping your investment style or diversifying your portfolio better? You may consider factor investing, a strategy that has been gaining prominence in recent years, owing to its ability to help create a curated basket of stocks which is aligned to an investor’s personality. Factor investing follows a methodology that seeks to exploit the risk and return characteristics of a certain factor, aiming to outperform traditional market capitalisation-weighted indices. Here is everything you need to know about this investing style.

Number of SIP accounts reaches all-time high in September

The SIP contribution stood at an all-time high of Rs 16,042.06 crore in September, compared to the SIP contribution of Rs 15,814 crore in August and Rs 12,693 crore in the same period a year ago.

Tata Capital healthcare fund picks up equity in AKC
Tata Capital Healthcare Fund II (TCHF II)has invested up to $10 million inApex Kidney Care (AKC),for an undisclosed equity stakein the dialysis chain.

‘Deeper bond markets critical to finance energy transition’
HDFC Bank chairman Atanu Chakraborty on Wednesday called for deepening bond markets to facilitate efficient financing of India’s energy transition goals, warning that resorting to bank finance for long gestation projects would lead to the sort of disasters the country saw in the first decade of the 2000s.

Hedge funds expected to ramp up returns on higher rates: BNP survey
Investors expect hedge funds to produce higher returns with the prospect of interest rates staying higher for longer, a BNP Paribas investor survey showed on Wednesday.