RBI to hold term repo auctions in March
The RBI will conduct term repo auctions in March of various tenures and amount in order to provide banks with liquidity.
The RBI said it anticipates further tightening of liquidity conditions in March due to advance tax payments. The details of the term repo auctions will be announced in due course, the central bank said in a notification on Tuesday. The RBI has been conducting term repo auctions regularly to provide liquidity support to banks.
Muthoot promoters may sell stake
Promoters of Muthoot Finance may dilute their stake once their application for bank licence is cleared by the RBI, a senior executive of the gold loan company said on Tuesday. George M Alexander, senior vice president of Muthoot also said they expect some decision on the licence issue by the end of February from the RBI and accordingly, the company will approach Sebi for necessary approvals.
Irda chief sees dearth of actuaries receding
Amid acute shortage of actuaries, Irda chairman T S Vijayan has expressed the hope that the country will produce enough number of such professionals in the next 3-4 years, which will be enable it to fill up the large gap in the insurance industry for such professionals. ?It takes long time to be an actuary. However, you look at the number of students. Now around 8,000 students are there. So, even if 50% come up in three-four years time, we will have enough numbers,? said Vijayan.
IMG looking into MLM, NBFC, CIS
An Inter-Ministerial Group (IMG) is looking into the functioning of Multi-Level Marketing firms (MLM), NBFCs and Collective Investment Schemes (CIS) to safeguard investors from unregulated entities, the government said on Tuesday. The IMG has been constituted under the chairmanship of Additional Secretary (Financial Services) and has officials from the Reserve Bank and market regulator Sebi.
SBI chief to speak at 18th WIEF
State Bank of India Chairman Arundhati Bhattacharya, McKinsey & Co Americas lead Vikram Malhotra and former Microsoft India head Ravi Venkatesan will speak at the prestigious Wharton India Economic Forum (WIEF) 2014, which will reflect on India?s success stories.
L&T Insurance launches new plan
Private insurer L&T Insurance on Tuesday launched ?my:health Medisure Super Top Up? plan, which provides an option of buying top-up cover ranging between R3 lakh and R20 lakh over the existing policy.
