What do IRDAI’s draft regulations on insurance policies mean for policyholders?
The recent proactive stance on consumer protection by the Insurance Regulatory and Development Authority of India (IRDAI) represents a noteworthy development. The draft regulations it has introduced carry potential implications that could be advantageous for policyholders.

Aegon sells 56 per cent stake in its joint venture in India to Bandhan Financial Holdings
 

Sion Investment exits CMS Info; ICICI Bank ups stake in ICICI Lombard
Source Credit: Business Standard

ICICI Bank ups stake in ICICI Lombard 
Private sector lender ICICI Bank on Tuesday hiked its stake in ICICI Lombard General Insurance by 1.42 per cent. It bought nearly 7 million shares for Rs 1,164 crore at Rs 1,666 apiece. Shares of ICICI Lombard last closed  at Rs 1,729, up 4.8 per cent. At the end of December 2023 quarter, ICICI Bank held 47.91 per cent stake in its general insurance arm.         

Circumventions of rules a generic, industry-wide problem in AIFs: Sebi member Narayan
Sebi’s Whole Time Member Ananth Narayan on Tuesday said circumvention of regulations is an industry-wide and generic issue with the Alternate Investment Fund ecosystem.Narayan stressed that the capital markets regulator wants to learn from the industry and work in close collaboration with it to frame the rules going ahead.Speaking at an event organised by industry body IVCA here, Narayan said a recent consultation paper is an attempt on the same and added that Sebi has already decided to make some relaxations like equity pledging by an AIF to borrow in the case of an infrastructure company.

PFRDA amends retirement adviser regulations for ease of compliance
Pension regulator PFRDA has brought changes to Retirement Adviser Regulations to simplify the eligibility criteria, expedite the process of registration and remove the requirement of submission of security deposits.

We are living in interesting times and it should be India’s decade, says LIC MF’s Ravi Kumar Jha
Mumbai: LIC Mutual Fund, one of the oldest fund houses, has renewed its focus to attract more investors in equities from smaller cities. The buoyant economy and equity markets are also making the job easier for the fund house. Ravi Kumar Jha, Managing Director and CEO, LIC MF spoke to businessline on the way ahead for the fund house.

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‘We have returned $ 2bn to investors in 2 years’, Srini Sriniwasan, MD, Kotak Alternate Asset Managers
Kotak Alternate Asset Managers, the asset management business of Kotak Mahindra Group, has committed over $ 8.8 billion in capital through its special situations fund, credit funds, real estate funds, among others. Srini Sriniwasan, MD, tells Raghavendra Kamath that the asset manager has given annualised returns of 22% and 19% to investors in special situations and real estate funds over the last decade. Excerpts:

Banks must be allowed to fund developers for land acquisition: Parekh
Source Credit: Business Standard

The affordable housing segment has missed out on the housing boom that the country has been witnessing in recent years, says Deepak Parekh, chairman of HDFC Life Insurance and HDFC Asset Management Company. In a Fireside chat with Business Standard’s consulting editor, Tamal Bandyopadhyay, Parekh says there’s a need to provide builders with an impetus to launch projects in the affordable housing space, along with allowing bank credit for land acquisition, albeit with some conditions. The veteran finance czar said such a move would help bring down the cost of housing.

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Nippon MF suspends fresh investment in 4 overseas schemes

Subscription in four overseas schemes of Nippon India Mutual Fund through lumpsum, switch-ins and fresh registration of SIPs/STPs was suspended with effect from Monday, said the fund house. Further applications for creation of units of Exchange Traded Funds (ETF) received directly by the AMC from investors will also not be processed, it said.

Angel funds approach Sebi, raise the issue of high depository fees

Angel funds, which fall under the Category-I of Alternative Investment Funds (AIFs), invest in startups and raise money from angel investors.

Kotak Mutual Fund restricts flows into small cap scheme from March 4. Details here

After Nippon and Tata, Kotak Mutual Fund has announced restrictions of investing into small cap scheme from March 4 onwards. 

Give details on risks of small/mid-cap funds to investors: SEBI to AMCs
The Securities and Exchange Board of India has asked asset managers to give investors more information about the risks associated with their small- and mid-cap funds, according to a fund manager and two people with knowledge of the matter.

FPIs await meaningful correction in Indian markets, says Kotak Institutional Equities’ Pratik Gupta
Mumbai: Foreign investors, including sovereign wealth funds, hedge funds and long-only funds are interested in the Indian stock markets, but they are unwilling to enter or invest in the market at current inflated valuations and are waiting for a meaningful correction.

SBI junks plans to raise Rs 12k cr via AT-1 bonds
State Bank of India (SBI), the country’s largest lender, is unlikely to utilise the enabling provision to raise nearly Rs 11,900 crore through additional tier-I (AT-1) bonds due to pricing issues in the current fiscal, sources told FE.

India bond yields flattish, investors eye state debt sale for cues
Indian government bond yields were largely unchanged in the early session on Tuesday, with eyes on demand and cutoff yields for heavy state debt auctions.

Companies line up Rs 16,620 crore corporate bonds as yields soften
Indian companies plan to raise up to Rs 16,620 crore through corporate bonds in the next three days. Frequent issuer National Bank for Agriculture and Rural Development has invited bids for re-issuance of bonds maturing in five years on Thursday.