In continuation of the ongoing exercise of streamlining and structural reforms of debt funds, on Thursday (October 8, 2020) SEBI has issued a circular that seeks to tighten the norms relating to inter-scheme transfers. Inter scheme transfers (ISTs) involve shifting of debt papers from one mutual fund scheme to another scheme. As per existing rules…
The Ministry of MSME (MoMSME) has implemented the “Interest Subvention Scheme for Incremental credit to MSMEs” vide circular no. FIDD.CO.MSME.BC.No.14/06.02.031/2018-19 dated February 21, 2019. According to the RBI circular, the term loan or working capital extended by Scheduled Commercial Banks to MSMEs are eligible under the scheme. Both manufacturing and service enterprises are eligible for…
The Capital market regulator SEBI has reviewed the guidelines for product labeling in mutual funds and has decided to introduce, ‘Very High Risk’ as the sixth risk profile for the MF schemes. According to SEBI notification, this new mutual fund rule shall be in force with effect from January 1, 2021, to all the existing…
The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines to all General and Health Insurers offering indemnity-based Health Insurance products for both Individuals and Groups (excluding PA and Domestic / Overseas Travel). These provisions and guidelines were issued by IRDAI under the provisions of Section 34(1) of the Insurance Act, 1938, and…
National Insurance Company has sent their revised rates for Flexible Option coverage of Sum Insured. There is also an option to choose Self + Spouse or Self alone (in the case of single-person coverage). The group policy for a period of 12 months which commences from 1st November 2020 and ends on 31st October has…
The high light of this year November 2020 to October 2021This time policy pensioner has the option to cover the Group Medical Insurance Policy for Retirees policy for Self+Spouce or self alone. Revised Group Medical Insurance Policy for Retirees has a flexible coverage scheme. Retirees also may also opt for the base insurance coverage of…
Effective from October 1, 2020, a number of changes taken place in respect of rules relating to health insurance coverage, driving licence , and registration certificate of vehicles, debit card, and credit card rules, Foreign fund transfer, FSSAI orders on foods, Ujwala connections, and Tax collection policy, etc. Here’s a brief look at the new…
On Tuesday, September 29, 2020, in two separate notifications, RBI said it would push back the final tranche of the capital conservation buffer (CCB) and the implementation of the net stable funding ratio (NSFR) by six months due to uncertainty related to COVID crisis. The capital conservation buffer (CCB) is designed to ensure that banks…
The Reserve Bank of India (RBI), announced the extension of the existing limit in Ways and Means Advances (WMA) limits and OD regulations for a further period of 6 months till March 31, 2021. The extension is available for all States/UTs to enable them to tide over the situation arising from the outbreak of the…
September 28, 2020 (Mumbai): The meeting of the Monetary Policy Committee (MPC) during September 29, 30 and October 1, 2020 as announced by RBI vide Press Release 2019-2020/2248 dated April 20, 2020 is being rescheduled. The Central Bank communication said that the dates of the MPC’s meeting will be announced shortly. Marginal Standing Facility (MSF)…