All-in-one affordable insurance cover, Bima Vistaar, to be rolled out soon
Hyderabad: The first of its kind all-in-one affordable insurance product, Bima Vistaar — offering life, health and property cover — is likely to be rolled out soon.  “The product is in the final stages of design based on discussions with Life and General Insurance Councils and industry,” a senior official of Insurance Regulatory and Development Authority of India (IRDAI) told businessline.

This LIC single premium life insurance plan will end on September 30: Check details

The Life Insurance Corporation of India (LIC) Dhan Vriddhi, a single premium life insurance plan, will end on September 30, 2023, according to the post on LIC’s official X handle (previously known as Twitter).

Coforge partners with Newgen to deliver insurance lifecycle management solutions
Coforge Limited and Newgen Software have elevated their partnership to deliver transformative insurance lifecycle management solutions in Customer Communications Management (CCM) and Document and Content Management (DCM) on the Low Code platform. “This will steer in a new era of agility, customer-centricity, and operational efficiency for Life and Annuity (L&A) and Property & Casualty (P&C) insurers. By combining their respective strengths, the companies are uniquely positioned to address the intricacies of the insurance domain across the US, UK, EMEA, and ANZ markets,” Coforge said in a regulatory filing. 

Sebi measures led to simpler classification of debt schemes, says Sandeep Bagla
Over the last few years, the Securities and Exchange Board of India or Sebi has introduced a slew of measures to help investors make informed decisions while selecting fixed income mutual fund options and assessing the risk profile of the schemes.

Sebi now extends surveillance and trade-for-trade settlement to SMEs
Mumbai: The Securities and Exchange Board of India (Sebi) has decided to extend the trade-for-trade settlement framework and short-term additional surveillance measure (ASM) to include small and medium enterprises (SME) stocks, according to a circular issued by the stock exchanges. Brokers said the move is aimed at curbing stock price manipulation in SME stocks. This framework will be implemented by October 3.

National Pension System: Government subscribers can now opt for NPS Tier II Default Scheme
The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the NPS Tier II Default Scheme exclusively for Government Sector subscribers. With this, the Government sector subscribers under NPS will be given an additional investment option of the Default Scheme along with the existing Scheme E/Scheme C/Scheme G investment options.

NPS Sizzles as AUM up 27% to ₹10.22 lakh crore
Aided by strong show by non-government sector, the National Pension System’s (NPS) assets under management (AUM) — including the corpus on Atal Pension Yojana (APY) — grew 27 per cent year-on-year to touch ₹10.22 lakh crore as of September 16, official PFRDA data showed.

UTI Mutual Fund launches UTI Innovation Fund
UTI Mutual Fund (UTI) has launched UTI Innovation Fund, an open-ended equity scheme following the innovation theme to bring the next generation edge to investor’s portfolios. The Fund would follow a bottom-up approach for investing in innovation-oriented businesses and disruptors with the potential of non-linear growth outcomes.

This SBI MF scheme turned Rs 1 lakh to Rs 27 lakh in 19 years. Do you own it?
SBI Focused Equity Fund, which has recently completed its 19 years of operations, has delivered multibagger returns to investors with a compounded annual growth rate (CAGR) of 18.91% since its inception.

Mutual Fund Nominee: Where to Check or Update Details Online Before Last Date September 30
Mutual Fund Nominee Update Last Date: For all existing mutual fund unit holders, it is mandatory to nominate or opt out of nomination before September 30, 2023, failing which the folios shall be frozen for debits, according to the Securities and Exchange Board of India (SEBI).

12 international funds offer more than 30% in one-year horizon

Mutual fund advisors always tell investors that the real purpose of investing in international or overseas funds is geographical diversification, not better returns than Indian stocks. However, they can say that apart from the benefits of geographical diversification these funds also offer great returns - perhaps in some years. At least that is what numbers say. Around 12 international funds have offered more than 30% in a one-year horizon, a data crunching by ETMutualFunds showed. There were around 68 schemes in the international category.

SEBI’s move to ease rules for corporates’ bond market borrowings is welcome
The Securities Exchange Board of India (SEBI) has decided to water down regulations that forced large corporates to mandatorily tap the bond market for part of their borrowing needs. The decision is pragmatic, as a number of companies impacted by these rules have found them impossible to comply with. It was at the behest of the Centre that SEBI ushered in the ‘large corporates borrowing framework’ in end-2018. From FY20, all listed companies with long-term borrowings of ₹100 crore or more and a credit rating of AA and above were asked to source 25 per cent of their incremental debt needs through the market.

India bond yields dip as index inclusion continues to lift mood
Indian government bond yields inched lower on Monday as investors remained positive after JPMorgan last week included India in its emerging market debt index. The 10-year benchmark 7.18% 2033 bond yield was at 7.1281% as of 10:00 a.m. IST on Monday, after ending at 7.1570% in the previous session. “The sharp reversal in yields on Friday was because of profit booking, and many traders lightened their positions as they sold stock after the debt auction, which is enabling them to take some fresh positions,” a trader with a primary dealership said.

Muthoot Finance's Rs 700 crore NCD issue oversubscribed on Day 1
Gold loan company Muthoot Finance's 32nd series of public issue of secured redeemable Non-Convertible Debentures (NCDs), with a base issue of Rs 100 crore and an option to retain oversubscription up to Rs 600 crore, aggregating to a tranche limit of Rs 700 crore was oversubscribed on the first day of the issue with an offer worth Rs 770.35 crore.

Indian G-sec Bonds in JP Morgan: yields to touch 7% in FY 24, says SBI
Following the inclusion of Indian Government bonds into JP Morgan's Emerging-market Index,  yields could touch 7% even before March of the current fiscal and should affirmatively breach 7% in FY25, according to the State Bank of India. 

Rupee to also gain from India entry into global bond index

Mumbai: The inclusion of India in a major global bond index and anticipation of more such announcements will likely bolster the rupee vis-a-vis its peers even as the probability of US interest rates remaining higher for longer theoretically dims the appeal of emerging market assets.

JPM Index inclusion is Indian bonds' liberalisation moment

Mumbai: It took nearly 30 years for net annual overseas purchases of Indian stocks to hit the $20-billion milestone at current rates of exchange. Bonds should comfortably breach that threshold in as many months.