Irdai to introduce collaterals for reinsurance transactions with CBRs
The proposed guidelines given in an exposure draft will be applicable for all the reinsurance placements with CBRs by cedants or insurers from India, for reinsurance programmes from FY25-26 onwards.
 

Ayushman Bharat: Govt gets more ambitious with its health insurance scheme
New Delhi : The Union health ministry plans to expand the scope of its flagship cashless health insurance scheme, covering more expensive cancer and transplant-related surgeries and treatments for individuals from poor families.

SEBI mulls allowing brokers to invest in non-securities businesses
Mumbai: The Securities and Exchange Board of India (SEBI) is deliberating on allowing brokers to invest in non-securities or unrelated businesses, said three people in the know. Brokers are keen to use their surplus net worth or reserves to invest in fintech, technology and even real estate companies. Some want to lend to their NBFC arms. Rule 8 (1)(f) and Rule 8 (3)(f) of the SCRR require that members of a stock exchange, including brokers, do not engage in businesses other than securities or commodity derivatives.

Why Sebi wants stricter UBO disclosure norms for FPIs

The countdown to complying with the enhanced disclosure norms for foreign portfolio investors (FPIs) on ownership, economic interest and control has begun. Sunil Badala explains how the stricter norms mandated by the Securities and Exchange Board of India will help identify the ultimate beneficial owners

l  Enhanced disclosure rules for FPIs

PFRDA eases business processes with simplified trustee appointments
The latest amendments in the NPS Trust Regulations simplify the provisions related to the appointment of trustees, their terms and conditions, the holding of meetings of the board of trustees, and the appointment of chief executive officers.

EPFO adds net 15.62 lakh members in December
New Delhi: Retirement fund body EPFO recorded a net addition of 15.62 lakh members in December 2023, according to payroll data released on Tuesday. An increase of 11.97 per cent has been registered in net member addition during December 2023 compared to the previous month, a labour ministry statement said. Employees’ Provident Fund Organisation’s provisional payroll data highlighted that the net addition of 15.62 lakh members was up by 4.62 per cent compared to December 2022, it stated. This surge in membership can be attributed to various factors, including increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO’s outreach programmes, it explained.

Mutual funds: Equity schemes derive 88 per cent of assets from individual investors, shows Jan AMFI data
While inflows into mutual fund schemes have been rising incessantly month after month, the jump is palpable among retail investors, shows the latest data released by the Association of Mutual Funds in India.
The data clearly shows that equity-oriented schemes derive 88 percent of their assets from individual investors (retail + HNIs).

Despite RBI restrictions, MFs hiked stake in Paytm in January
Mumbai: Mutual funds holding in troubled Paytm (One 97 Communication) have increased 70 per cent to ₹3,384 crore in January compared with ₹1,995 crore in December as they ramped up exposure to average cost. Investors who have bought stock at a high price tend to buy more of the same stock when it falls. This helps them bring down the overall cost of investment.

Mahindra Manulife launches Multi Asset Allocation Fund for investors
Mumbai: Mahindra Manulife Mutual Fund has launched a new fund offer on Multi Asset Allocation Fund for investors looking to invest in diversified asset classes such as equity, debt and inits of Gold/Silver ETFs.

Ahead of the RBI restrictions, MF industry’s shareholding in Paytm increased by 41% in January 2024: Fisdom
On January 31st, the Reserve Bank of India (RBI) placed operational restrictions on Paytm Payments Bank Ltd. (PPBL) due to ongoing non-compliance issues and significant supervisory concerns.

PE firm CVC Capital raises $6.8 bn, plans to invest in Indian companies
The Luxembourg-based company has over $1 billion investments in four domestic companies the Indian Premier League franchise Gujarat Titans, Healthcare Global, Sajjan India and United Lex, according to a statement.
 

Union Bank of India to raise ₹3,000 crore via QIP
Mumbai: Union Bank of India’s “Committee of Directors for Raising Capital Funds” on Tuesday approved the raising of funds up to ₹3000 crore through issue of equity shares at a floor price of ₹ 142.78 per equity share to Qualified Institutional Buyers.

Tata Capital seeks shareholders' nod on related party deals with Tata Steel

In a notice to its shareholders, Tata Capital said Tata Sons Private holds 92.83 per cent stake in the company and also holds a 32.24 per cent stake in Tata Steel, and hence all its transactions with Tata Steel will fall under related party transactions.

Indian equity market outlook 2024: Strategies for investing in a bullish market
2023 was a great year for equity investors in India, with the Nifty Index ending up over 20%. This was the eighth consecutive calendar year of positive returns, the longest streak ever in Nifty’s recorded history since 1996. The broader markets did even better, with the Midcap and Smallcap Index up ~47% and ~56%, respectively. The key question for investors is whether this rally will be sustained in 2024 and how one should position their equity allocations.

BoB raises Rs 2500 cr via Tier-II bonds at 7.57%, surpasses mkt estimates
The bonds are issued for a tenor of 10 years, with the first call option after 5 years.
 

India Inc raised 15% more via corporate bond issuances in 9M FY24 vis-a-vis year ago period
Mumbai: In what could be considered as a sign of investment demand gathering steam, India Inc raised ₹80,000 crore more via corporate bond issuances in the first nine months (9M) of FY24 vis-a-vis year ago period. Corporate bond issuances during 2023-24 (from April 1 up to November-end 2023) were 15 per cent higher year-on-year (yoy) at ₹6.1-lakh crore compared with ₹5.3-lakh crore a year ago, per RBI data.