Repo rate and other key policy rates remain unchanged: RBI
The Reserve Bank of India (RBI), in its fourth bi-monthly monetary meet held on October 9, 2020, has decided to keep the repo rate unchanged and continues with its accommodative stance. This is the second time in a row the apex bank has kept the key rates unchanged. The existing key policy rates are as…
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SEBI tightens the norms relating to inter-scheme transfers of Mutual Funds
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…
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Government modifies interest subvention scheme for MSMES, extends scheme till March 2021
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…
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SEBI introduces Riskometer labeling norms on dividend options for mutual fund schemes
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…
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These are IDRAI guidelines on health insurance policies
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…
Revised rates for Group Medical Insurance Policy for Bank Retirees
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…
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