Insurance companies may bring new products without prior permission of IRDAI
The Insurance Regulatory and Development Authority of India (IRDAI) vide circular dated June 10, 2022, permitted life insurance companies to introduce products without taking prior permission (use-and-file) from IRDAI. The regulator had extended the same relaxation of the ‘use-and-file’ procedure to health and general insurance companies vide a circular dated 01.06.2022. Thus, the insurance companies…
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What is ASBA facility?
Application Supported by Blocked Amount (ASBA) is an application made by an investor for the subscription of an Initial Public Offer (IPO) and Follow-on Public Offer (FPO). The form contains an authorization to Self-Certified Syndicate Bank (SCSB) to block funds available in the applicant’s Savings Bank Account or Current Account (other than Overdraft or loan…
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10th series of the Sovereign Gold Bonds (SGBs) scheme 2021-22 is open for subscription from today
The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, is Rs.5109 (Rupees Five Thousand One Hundred and Nine only). The investors who apply…
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The role of KYC Registration Agency (KRA) in the securities market
Earlier to initiation of KRA by SEBI, investors were required to complete the KYC process as and when they interact with each type of SEBI Intermediaries by submitting the relevant documents, requirements of which may vary from intermediary to intermediary. In view of bringing uniformity in KYC requirements for the securities markets, SEBI has initiated…
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Original Power of Attorney not needed to sell the property, copy enough: Supreme Court
In its judgment dated 30th January 2022, in the case of AMAR NATH– APPELLANT(S) VERSUS GIAN CHAND AND ANR. … RESPONDENT(S)[ (CIVIL APPEAL NO. 5797 OF 2009,], the Supreme Court observed that the production of the original power of attorney is not necessary if the document is presented for registration by the power of attorney…
Subscription for Sovereign Gold Bonds open from today
The issue of the IX series of the Sovereign Gold Bonds (SGBs) scheme 2021-22 is open for subscription from January 10, 2022 – January 14, 2022.The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the…
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