BS People: S S Mundra

The challenges facing S S Mundra, the new chairman and managing director of public sector lender Bank of Baroda, are different from the ones his peers have to deal with. While most state-owned banks are grappling with asset quality headwinds, Bank of Baroda is quite comfortable on that front. The lender has managed to maintain a decent gross and net non-performing asset ratio in comparison to other banks, despite some problems in asset quality. 

http://www.myallagents.com/BS-People-S-S-Mundra/details.html 

Irda publishes five key reforms in gazette

The Insurance Regulatory and Development Authority (Irda) has published in the gazette of India five key reforms related to the sector, including new guidelines for insurers and reinsurers. The reforms are: Investment regulations for insurers, Irda (life insurance-reinsurance) regulations; places of business regulations; Irda appointed actuary amendment regulations and regulations for the standard proposal form.  According to the actuary  http://www.myallagents.com/Irda-publishes-five-key-reforms-in-gazette/details.html

Irda for changing 'Place of Business' regulation

The Insurance Regulatory and Development Authority (Irda) will take a call on altering its ‘Place of Business’ Regulation, which called for insurers to take permission of the regulator to open offices in any location in India. This, is to be in tandem with the Budget proposal to allow insurance companies to open branches in Tier-II cities and below without Irda approval.http://www.myallagents.com/Irda-for-changing-Place-of-Business-regulation/details.html

LIC Nomura eyes 2-fold rise in AUM in FY14

LIC Nomura eyes 2-fold rise in AUM in FY14
LIC Nomura Mutual Fund targets over two-fold increase in its average assets under management (AUM) in the current fiscal by launching a host of new schemes in the debt and equity segments, a top company official said.
The fund house, which had posted losses in FY2011 and FY2012, also hopes to report profit in 2012-13..
http://www.myallagents.com/LIC-Nomura-eyes-2fold-rise-in-AUM-in-FY14/details.html

Planning to buy insurance this year?

If you are planning to buy an insurance policy this year - either life or health - you should hold the purchase until the products are refiled. The Insurance Regulatory and Development Authority (Irda) has given insurers time till June 30, 2013 and September 30, 2013 to re-file their group and individual products, respectively.  http://www.myallagents.com/Planning-to-buy-insurance-this-year/details.html

LIC is India's most attractive BFSI bran

At present, under Employee’s Deposit Linked Insurance (EDLI) scheme, wherein employer contributes 0.50% of the basic pay as insurance premium every month to the EDLI scheme, employee gets the benefit equal to his provident account balance if the balance is upto Rs. 50,000 and if it exceeds Rs. 50,000 then account balance plus 40% of the balance. However there is a cap of Rs. 100,000 upto which the benefit can be availed. Prior to the year 2010, the maximum benefit available under this scheme was Rs. 60,000. 
http://www.myallagents.com/LIC-is-Indias-most-attractive-BFSI-bran/details.html  

Why Cobrapost expose was a non-event for bank stocks

The shrill Cobrapost bite, this time mostly on large state-owned banks and insurance companies, failed to upset the market confidence on banking shares. The latest sting operation turned out to be a non-event that did not lead to panic-selling by investors on Monday. Bank Nifty was flat to close the day's trading at 12,396.

Source: moneycontrol.com 

http://www.myallagents.com/Why-Cobrapost-expose-was-a-nonevent-for-bank-stocks/details.html