IRDAI to roll out nationwide cashless medical-insurance settlement soon

Insurance regulator IRDAI has mandated the Committee on Common Empanelment Process of Hospitals and 100% Cashless to submit a report on implementing fully cashless medical-insurance settlement in hospitals across the country. Currently, cashless settlement is available in 49% of the hospitals, numbering around 25,000.

LIC Saral Pension Yojana: Get guaranteed income and loan facility under this scheme, check benefits
LIC scheme: In today's world, retirement planning is crucial to ensure financial stability during your golden years. Life Insurance Corporation (LIC) offers a variety of pension plans, and one such option is the LIC Saral Pension Yojana. This non-linked, single-premium, individual immediate annuity plan provides a reliable source of income for retirees. Here's all you need to know about this scheme:

IndiaFirst Life Insurance IPO likely by November
Bank of Baroda-promoted IndiaFirst Life is all set to launch its Initial Public Offer (IPO), possibly as soon as November, said sources close to the development.

Liberty General Insurance appoints Parag Ved as CEO
Liberty General Insurance on Thursday announced the appointment of Parag Ved as its chief executive and a director on the board. Prior to joining Liberty, he was the president of consumer lines at Tata AIG General Insurance, the company said in a statement.

Quiting smoking can bring down your term insurance premium by up to 75%
Source Credit: Sunainaa Chadha, Business Standard

New Delhi: Did you know that the premium for a smoker's life is approximately 40-75 per cent higher than the premium for a non-smoker? While the exact difference may vary and would depend upon the age, premium payment term, policy term and plan option opted by the customer, the fact is that due to increased health risks, smokers are statistically more likely to make insurance claims, leading to higher premiums to offset the added risk for the insurance company.

Inflated bills, ghost hospitals: What IRDAI has on its plate as it attends to health insurance woes
On advice of his family doctor, Shyam, a resident of Ahmedabad, got admitted in a city-based hospital with a hope to get well soon. The first thing he was asked by the hospital staff was whether he had a valid insurance policy. The moment he said ‘yes’, the hospital warden smiled.

Sebi imposes Rs 6-cr fine on former DHFL promoters
The Securities and Exchange Board of India (Sebi) has slapped a Rs 6-crore penalty on erstwhile promoters of DHFL (Dewan Housing Finance) for violating disclosure norms.

Sebi notifies rule for listing non-convertible debt securities
New Delhi: Sebi has amended rules under which listed entities with outstanding non-convertible debt securities will be required to list subsequent issuance of such securities on stock exchanges. This will come into effect from January 1, 2024, the Securities and Exchange Board of India (Sebi) said in a notification uploaded on its website on Thursday.

Kamlesh Varshney takes charge as SEBI whole-time member
Kamlesh Chandra Varshney took charge as Whole-Time Member, Securities and Exchange Board of India (SEBI) in Mumbai on Wednesday. Prior to this assignment, he was Joint Secretary (Tax Policy and Legislation) in the Department of Revenue, Government of India. Varshney will handle various departments, such as the Market Intermediaries Regulation and Supervision Department, Legal Affairs Department-LAD1, Integrated Surveillance Department, Information Technology Department, Recovery & Refund Department, and Special Enforcement Cell.

Sebi issues guidelines for handling complaints received via SCORES platform
Capital markets regulator Sebi on Thursday came out with a framework for handling complaints received through SCORES platform for registered entities and for monitoring such grievances by designated bodies. The new guidelines will come into force from December 4, the Securities and Exchange Board of India (Sebi) said in a circular.

Sebi slaps Rs 65 lakh fine on 13 entities for indulging in non-genuine trades
Capital markets regulator Sebi has imposed Rs 65 lakh fine on 13 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE. In 13 separate orders on Wednesday, the regulator slapped a fine of Rs 5 lakh each on Kalyan Devi Bothra, Kalpesh Udani HUF, Kallol Kutir Pvt Ltd, Jyotiben Prakashkumar Shah, Jyoti Patawari, Jyoti Kariwala, Jupiter Industries and Jugmug Sales Pvt Ltd.

Sebi approves relaxing borrowing norms for large corporates in debt market

Market regulator Sebi has approved a proposal to provide flexibility to large corporations to meet their financing needs from debt market.

Market regulator Sebi eases corporate bond issuance norms for large firms
 

Panel weighing pension guarantee under National Pension System
The Finance Secretary-led committee on the National Pension System (NPS), set up by the government to suggest ways to increase pensionary benefits under NPS amid the move by some states to return to the unsustainable Old Pension Scheme (OPS), may suggest ways to address the demand for a guaranteed pension under the NPS for the government staff at a decent level, without burdening the exchequer too much.

Canadian funds hold over $30 billion in India
Canada’s three major funds – Canada Pension Plan Investment Board (CPPIB), Caisse de dépôt et placement du Québec (CDPQ) and Ontario Teachers Pension Plan – have invested more than $30 billion (Rs 2.49 trillion) in India in both listed and unlisted firms, according to data culled from their respective websites and other sources.

HDFC AMC receives RBI approval to acquire up to 9.5% stake in Karur Vysya Bank, DCB Bank
HDFC Asset Management Company received approval from the Reserve Bank of India (RBI) to acquire additional holdings of up to 9.5 per cent in Karur Vysya Bank and DCB Bank, the banks said in a regulatory filing. 

Are Mutual Funds (MFs) competing against bank deposits?
Bank deposits are likely to face competition from Indian mutual funds as households are willing to take more risk, according to a report by Bank of Baroda (BoB).

FIIs dump ₹3,007 crore in Indian equities as Nifty extends losses for 3rd day, DIIs invest over ₹1,150 crore
Foreign institutional investors (FIIs) continued their selling streak as Sensex and Nifty extended losses for the third straight session on Thursday, September 21. The domestic institutional investors (DIIs) turned net buyers and invested ₹1,158.14 crore in Indian stocks today.

JPMorgan to include India in emerging market debt index, opening doors for billions in investments
New Delhi: JPMorgan on Friday said it will include India in its widely tracked emerging market debt index, setting the stage for billions of dollars of inflows into the world's fifth-largest economy. India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds according to JPMorgan.

Vedanta's board approves Rs 2,500-cr fundraise via NCDs
Mumbai: The board of Vedanta Limited has approved raising up to ₹2,500 crore through the private placement of non-convertible debentures, it informed exchanges on Thursday. These funds will be raised in one or more tranches.

10-year yields hit 16-year peak as Fed seen higher for longer
Benchmark 10-year U.S. Treasury yields rose to 16-year highs on Thursday, a day after the Federal Reserve surprised investors by flagging the potential for an additional rate hike, and an expectation for fewer cuts next year.

ICICI, Canara Bank may raise up to Rs 9,000 crore

Mumbai: ICICI Bank and Canara Bank are likely to raise up to ₹9,000 crore worth of funds through the issuance of 10-year infrastructure bonds in coming days, sources aware of the developments said.