Day: 3 March 2014

3/3/2014 IRDA allowed Insurance companies to invest in Equity ETF subject to certain conditions. This will help to increase the inflows in Equity Market. Exchange Traded Fund -  ETF are passively managed fund that tracks an index, basket of assets, commodity etc.  ETFs were introduced in India in 2001. Currently, there are about 33 ETFs with assets under management of close to Rs 11,500 crore held by 6.2 lakh investors. Gold ETFs dominate the market in India. In which ETF, Insurers can invest ? Insurers can invest in only those equity ETFs are Equity ETFs &  registered with Sebi and governed by Sebi (Mutual Funds) Regulations, 1996. that do not hold more than 15% of the fund in a single company. total exposure to a sector does not exceed 30%. have overall expense ratio below ...

SBI Mutual fund & Axis Mutual Fund have filed papers with Sebi to launch mutual fund schemes linked to inflation-indexed bonds. These will be open-ended debt funds  which will invest money in government's inflation indexed securities. they will aim to provide inflation--adjusted returns to investors. SBI MF will invest 70%  & Axis MF will invest 65% of thr fund in inflation- linked bonds.   However, details about amount to be raised and launch date were not mentioned. Deutsche Asset Management India last month became the first fund house to launch an inflation-indexed fund. Last year, RBI has issued Inflation indexed bonds where Interest rates is linked to Inflation & will be fixed twice a year. These bonds are launched every month and government is expecting Rs 15000 crore...

RBI has extended the timeline to get pre-2005 currency notes exchanged at banks. On Jan 22 2014, RBI said that it would wiothdraw all pre-2005 currency notes from April 1 2014 and advised public to get it exchanged at banks. Now, they have extended this timeline to Jan 1 2015. What is the timeline to get the notes replaced? You can get your notes exchanged by Jan 1 2015 . In the meantime, you can freely use the currency as before .  It is still a LEGAL TENDER. How to identify pre 2005 notes ? Currency notes issued before 2005 do not have the year of printing on the reverse side. In notes issued after 2005, the year of printing is visible at the bottom of the reverse side. Why RBI is doing this  ? Post-2005 notes have added security features and help in curbing the menace of fake currenc...