BS BFSI Summit: From Doraiswamy to Tahilyani, meet life insurance experts
Source Credit: Business Standard

R Doraiswamy

82% unaware of mental health insurance coverage: Survey
A recent survey conducted by Sukoon Health has shed light on the perceptions, awareness, and experiences of mental health care in India. With 70% of respondents affirming the importance of diagnosing and treating mental health conditions, the findings signal a significant shift in societal attitudes towards mental well-being. This growing understanding, catalyzed by initiatives like Mental Health Awareness Month, underscores a collective recognition that mental health is as vital as physical health.

Sebi turns up heat on influencers as stocks boom
India’s legion of financial influencers are once again under the spotlight as the country’s market regulator ramps up action against unregistered advisors dishing out investment tips on social media.

PFRDA makes ‘penny drop’ verification mandatory for NPS fund withdrawal
Pension regulator PFRDA has made ‘penny drop’ verification mandatory for the withdrawal of funds by subscribers of the National Pension System (NPS) to ensure the timely transfer of money. Through the ‘penny drop’ process, Central Recordkeeping Agencies (CRAs) check the active status of the savings bank account and match the name in the bank account number with the name in PRAN (Permanent Retirement Account Number) or as per the documents submitted.

NPS subscribers can now opt for automated periodic withdrawals of 60% corpus
National Pension System (NPS) subscribers can now opt for automated periodic withdrawal of 60 per cent of their pension corpus through the Systematic Lumpsum Withdrawal  (SLW) facility with the pension regulator PFRDA approving its implementation.  With this latest PFRDA move, NPS subscribers can avail of the SLW facility through an automated route periodically basis viz monthly, quarterly, half-yearly or annually for a period till 75 years of age as per the choice at the time of their normal exit.

Betting on the consumption story: Higher returns with lesser drawdown
In order to offer retail investors a chance to invest in India’s consumption potential, asset management companies are launching consumption funds. These open-ended funds aim to generate long-term capital growth from an actively managed equity portfolio of companies which will benefit from consumption and consumption-related activities.

Murthy’s 70 hours work remark: Edelweiss CEO Radhika Gupta says Indian women work more than that but no one debates
After NR Narayana Murthy, the founder of IT major Infosys stressed on the need for youngsters to work for at least 70 hours a week to boost work productivity, Edelweiss MD and CEO Radhika Gupta has commented that many Indian women have been working more than the said hours per week to “build India" but no one has debated about them.

The biggest risk in the equity markets is the one you can’t see: Samir Arora
Uncertainty around the upcoming assembly elections, high interest rates globally and a war in West Asia might have an immediate bearing on market prospects, but these issues won’t matter in the medium or long term, says market veteran Samir Arora, founder of Helios Capital, whose maiden equity fund is open for subscription. For now, we have to pray that the war will not involve other countries like Iran, he adds. Edited excerpts from an interview:

Amplus founder, I Squared Capital set up Hexa Climate Solutions
New Delhi: Amplus founder Sanjeev Aggarwal and I Squared Capital have come together again to set up a climate solutions platform—Hexa Climate Solutions—which will focus on renewable energy, water and carbon oxides; wherein the New York-based private equity fund will invest around $500 million, said two people aware of the development.

FPIs withdraw Rs 20,300-cr from equities in October; invests Rs 6,080 cr in debt
Foreign Portfolio Investors (FPIs) have pulled out over Rs 20,300 crore from Indian equities this month so far, primarily due to a sharp surge in the US treasury yield, and the uncertain environment resulting from the Israel-Hamas conflict. However, the story takes an intriguing turn on observing FPI activity in Indian debt as they have infused Rs 6,080 crore into the debt market during the period under review, data with the depositories showed. Going ahead, the future of FPI flows hinges on several factors, including the US Federal Reserve’s November 2 meeting and global economic developments, Mayank Mehraa, smallcase manager and principal partner at Craving Alpha, said.

Hot foreign money could continue to dominate flows in and out of Indian equities

A paraphrased adage that goes "too sweet to spit, too bitter to swallow" perhaps best describes the current position of various foreign fund managers on Indian stocks. For many of them, India is a fascinating upcoming alternative to the slowing and ageing economic giant of the region - China.

Bond Rout: Something’s Gotta Give
The latest developments in the rates markets globally are a reminder that a return to normal still has a long way to go. The resilience in both inflation and growth is reinforcing the higher-for-longer (HFL) stances of central banks even as financial and geopolitical shocks loom over the outlook.

The long and short of bond market action: What investors must do amidst rising yields bl-premium-article-image
The domestic equity markets have been in a corrective mode in recent weeks. But a good part of the reason for this can be attributed more to the action in the bond markets globally — specifically in the US. The Reserve Bank of India’s relatively hawkish take on inflation (and liquidity) in the recent policy meeting — and geopolitical tensions following the Israel-Hamas conflict — have added to the challenges.

RBI sets price for premature redemption of Sovereign Gold Bonds. Details here
On October 27, 2023, the Reserve Bank of India (RBI) declared a redemption price of ₹6,079 per unit for premature redemption of government-issued sovereign gold bonds (SGBs). This price is determined by taking the simple average of the closing gold prices with 999 purity over the three preceding business days from the redemption date, as reported by the India Bullion and Jewellers Association Ltd (IBJA).

Euroclear settlements could widen demand for Indian government bonds

Mumbai: The UK and India, currently finalising a free-trade pact after London's formal exit from the Eurozone, are working on a proposal as part of the comprehensive economic deal to help remove long-standing barriers to the settlement of sovereign bonds on Euroclear.