Q1 corporate earnings growth led by BFSI sector: Motilal Oswal
Studying the results of corporates tracked by it, Motilal Oswal said that the BFSI sector has driven 124 per cent of the incremental year-on-year (YoY) earnings growth during the 1QFY23 which was largely subdued. Loan growth has spiked fueled by continued momentum in retail and small and medium enterprises (SME) segments.
Motilal Oswal Mutual Fund launches index funds and ETFs tracking quality and value factors
"With an objective to cater the evolving needs of the investors, we have introduced ETFs & index funds in the factor investing segment. These new funds are based on the Quality and Value factors. We aspire to build a unique brand positing by establishing ourselves as a fund house to drive the factor investing category in India," Navin Agarwal, MD & CEO, Motilal Oswal Asset Management Company, was quoted saying in a release.
Rs 70,000 crore lying unclaimed with banks, insurers, MFs
In the case of banks, the unclaimed amount is over Rs 48,200 crore at the end of FY22, according to a Reserve Bank of India (RBI) report. The unclaimed deposits in the banks - deposits-SB/CA/fixed, not claimed for 10 years, was over Rs 48,200 crore last year, up from about Rs 39,200 crore in 2021 and about Rs 24,000 crore in 2020, as per the report.
IRDAI has not decided on disclosure of agent commission on policies
In a statement, IRDAI clarified that it has not taken any decision on this matter. Furthermore, the IRDAI will hold extensive consultations with all stakeholders before any such decision is taken. Insurance intermediaries like agents and brokers voiced their views against the proposal to make it mandatory to specify the amount of commission paid on the policy document.
IRDAI processing licence applications of 12 companies
Industry officials told IANS that the IRDAI has not licensed any new insurer during the past couple of years. And that situation is expected to change in the near future with some of the applications are in advanced stages of processing at IRDAI.
Pay as you drive should be applicable to 3rd party insurance as well
When asked by IANS, industry officials kept a stoic silence as the companies are raking in money from the motor insurance portfolio. At a time when the industry is lobbying for more regulatory relaxations, barring one or two CEOs, others are mum, when it comes to policyholder friendly moves like scrapping of administrative pricing for motor third party premium.
IRDAI should exercise caution, be customer friendly while relaxing regulations: Experts
The Indian insurance regulator should move cautiously while making changes to the over two decade old regulations that seems to have prevented companies going belly up like several finance companies, said experts. The Insurance Regulatory and Development Authority of India (IRDAI) has made some regulatory changes and is also mulling more.