Markets hoping for a strong & stable government

ET Now: IMF growth projections for India seem fairly upbeaten. Perhaps some would say that is what fueled the rally yesterday in the equity markets. 5.4% for FY14, 6.4% for FY15. What is your stance on these projections?Killol Pandya: I will not really be able to see so far into the future, especially in the context of elections. Our best hope is that we get a strong central government. From that perspective it does not really matter which party comes into power. Of course the markets appeared to be strongly siding with one of the two factions, but from the political sense a strong government at the centre will do us well. 
http://www.myallagents.com/Markets-hoping-for-a-strong-and-stable-government-Killol-Pandya-LIC-Nomura-Mutual-Fund/details.html

New govt's fiscal policy to affect RBI's monetary stance

With a new government at the Centre only a few weeks away, the Reserve Bank of India (RBI) might wait for the new dispensation’s fiscal policy to take its policy actions, feel experts. Although Consumer Price Index (CPI)-based inflation is on the rise in March, RBI might hold rates till June. According to experts, if the new government takes concrete steps, it would provide room for RBI to cut rates in the future, though not in near term.  http://www.myallagents.com/New-govts-fiscal-policy-to-affect-RBIs-monetary-stance/details.html

Kotak Life Insurance launches immediate annuity plan

Kotak Life Insurance has launched Kotak e-Lifetime income plan, an immediate annuity product. The plan offers the purchaser of the annuity the option to choose an annuitant or beneficiary other than self. This will ensure regular income to any close blood relative or spouse, other than self. The plan is also available online, said a press release issued by Kotak Life Insurance. The one time premium paid by the proposer is paid out to the annuitant or beneficiary at the interval chosen – monthly, quarterly, half yearly or yearly at the predefined annuity rate promised at the time of purchase. Annuity rates will depend upon the age of the annuitant, the amount invested and the annuity option chosen.  http://www.myallagents.com/Kotak-Life-Insurance-launches-immediate-annuity-plan/details.html

RBI allows FPIs, NRIs to invest upto 26% in insurance

NEW DELHI: The Reserve Bank today said overseas investors, including FPIs and NRIs, can invest up to 26 per cent in insurance and allied activities through the automatic route. "Effective from February 4, 2014, foreign investment by way of FDI, investment by FIIs/FPIs and NRIs up to 26 per cent under automatic route shall be permitted in insurance sector," RBI said in a circular.  http://www.myallagents.com/RBI-allows-FPIs-NRIs-to-invest-upto-26-in-insurance/details.html

 

What is mortgage insurance?

Mortgaging one’s house for a loan is a major and long-term commitment. Mortgage payments typically continue over several years, and one can never predict fluctuations in the borrower’s ability to repay at the moment of taking out a mortgage. Hence, the borrower may have to purchase mortgage insurance to protect against the risk of future non-payment of dues because of financial difficulties due to sickness, disability or unemployment. 
http://www.myallagents.com/What-is-mortgage-insurance/details.html.  

Metal stocks surge on China demand, RBI policy move

Improving Chinese demand, partial lifting of the Odisha mining ban and the central bank’s move to ease liquidity boded well for metal sector stocks, which climbed to a one-year high on Tuesday. Chinese manufacturing data for the month of May touched a four-month high, leading to hopes that demand from the world’s largest consumer of metals will revive going forward. Further, the Reserve Bank of India’s move to cut the statutory liquidity ratio or SLR by 50 basis points to 22.5 per cent boosted market sentiment resulting in heavy buying in these stocks which have not been major participants in the recent market rally .  http://www.myallagents.com/Metal-stocks-surge-on-China-demand-RBI-policy-move/details.html

ING Life now named Exide Life Insurance

BANGALORE: ING Vysya Life Insurance Company has been renamed Exide Life Insurance Company, following approvals from Insurance Regulatory and Development Authority and thecorporate affairs ministry. 
This move follows Kolkata-based Exide Industries acquiring 100% ownership of the insurance company last year.  
www.myallagents.com/ING-Life-now-named-Exide-Life-Insurance/details.html 

Quations & Answers on Lic India

As name suggests this rider, waives payment of future premiums for a specific term, subject to certain conditions.

A Waiver of Premium rider opted along with a children’s plan ensures the policy stays in force to accumulate wealth for the child’s future, and earns returns or benefits on the investment made in the policy. So even in the event of any death or disability, your policy is taken care of. It works its way towards building a corpus for your child’s education or marriage, making it available at the time when it is actually required. Most children’s plans offered by insurance companies come with an inbuilt waiver of premium rider, if not they, could be individually opted for too. 

http://www.myallagents.com/Quations-and-Answers-on-Lic-India/details.html 

A supplementary cover at best

Most individuals defer buying health insurance as they believe the main cost they will have to incur is for surgery, say insurance players. To address this, Bajaj Allianz General Insurance has introduced a new plan – Surgical Protection Plan, a benefit plan which proposes to repay surgical expenses. 
http://www.myallagents.com/A-supplementary-cover-at-best/details.html 

Government asks RBI to set up committee to look into banks' raising of Tier-II capital

NEW DELHI: The government has asked the Reserve Bank (RBI) to set up a committee to look into the insuranceregulator's concerns that some of the instruments issued by banks to raise tier-II capital were perpetual and illiquid. The Insurance Regulatory & Development Authority (IRDA) has also said that some of these instruments are flouting its investment norms. The committee will look into issue of and subscription to tier-II instruments under the new Basel-III capitalisation guidelines, a finance ministry official said.  http://www.myallagents.com/Government-asks-RBI-to-set-up-committee-to-look-into-banks-raising-of-TierII-capital/deta