The Centre will bring soon bring 30-40 financial intermediaries, including wealth managers, insurance brokers, merchant bankers and share transfer agents, under the scope of the Insolvency & Bankruptcy Code (IBC), reports The Times of India.Till date, only non-banking financial institutions (NBFCs) with assets over Rs 500 crore are under IBC purview and the Centre continued to exclude banks, insurance companies and pension funds, the paper said.SEBI Chairman Ajay Tyagi on November 21 said mutual funds will be part of the list. Regulators were recently asked to identify intermediaries under them, which would be brought under IBC in case of a crisis. The insurance and pension regulators will soon identify entities as well.Close These developments come on the back of a prolonged crisis in India’s financial sector, which also lacks targeted and specific law provisions. related news Automation Anywhere raises $290mn funding led by Salesforce Ventures … [Read more...] about Wealth managers, i-bankers, insurance brokers & share transfer agents may soon be brought under IBC
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It is important to write a will as you age. But what if you change your decision on how you wish to pass on assets to beneficiaries over time? You may have an additional member in your family after you wrote the original will. Or, one of the beneficiaries may have passed away and you may want transfer a share of your assets to someone else.You could write a new will and discard the older version. But the process is not easy when our Wills are long. But there is help at hand. You can amend your earlier will. Such an amendment is called a codicil.What is codicil?Close The Indian Succession Act 1925 defines Codicil as an instrument made in relation to a will, and explaining, altering or adding to its dispositions, and shall be deemed to form part of the will. related news Viewpoint | Dear Woman, write a Will to ensure your wealth doesn’t go to undeserving hands SEBI puts transfer of physical and demat shares on par in case of death Put simply, it is a document signed … [Read more...] about Modify your Will with a Codicil
Ever noticed a tightrope walker? You could easily notice one at fairs in India, especially in villages. Sometimes, even carefully balancing a pot on his/her head and holding a stick to help maintain balance as he/she treads gingerly from one end of the rope to another.It’s a high risk game! Fall and risk a fracture or break a limb. Reach the other end and earn admiration. You need nerves to even watch it.Buying unlisted shares available in a distress sale is akin to a tightrope walk. Whether you simply buy the shares of unlisted companies that its existing investors want to sell or from an alternate investment fund (AIF) that investors wish to exit midway, or even shares held by employees — these are some of the opportunities that could prop up time and again.Close If you’re vigilant, patient and have the money to spare there could be a fortune. But there’s no guarantee that you’ll make money here. And that is not just the only risk … [Read more...] about Buying unlisted shares and AIF units a tightrope walk, retail investors should stay away
Most non-life insurance policies−be it health, personal accident, auto or home−are contracts renewable yearly. Barring a few two- and three-year covers introduced by non-life insurers, most policy holders receive yearly renewal notices for the payment of their premiums to retain their insurance covers. With the advent of technology, it has become a hassle-free act in most cases. All you need to do is to read the text message from your insurer, click on the link given in it, tick the accept term and conditions box and make the payment online. Within a minute or two, the policy document hits your email inbox.Review your renewal notice It is a sacrosanct document, most experts say. It is the base of the contract you are entering into. Do check your name and other details. Check what you are insuring. For example, if you are renewing a personal accident insurance cover, do check the coverage offered for each event−accidental death, total permanent disability and … [Read more...] about Five factors to review before renewing your insurance policy
Today is Akshaya Tritiya - that time of the year for many of us to buy gold. It’s believed to be an auspicious day to start new ventures as well. And because Akshaya Tritiya comes in the middle of the wedding season that is upon us already, most of us have our trips planned to local jewelers.But buying gold costs money and its prices go up and down, just like any other asset. Typically, we always suggest to be a bit cautious in buying gold to ensure you don’t go overboard (we Indians love our gold, do we not?). The good news is, this Akshasya Tritiya might just be a good occasion to buy gold. Moneycontrol has been saying for some time already.Gold prospectsClose Gold prices may move upwards in the next couple of years as the macro- economic picture changes globally. If you have been tracking US President Donald Trump’s tweets for the last couple of years, you would have noticed by now that the world trade and international relations are changing. The tariff wars … [Read more...] about Country celebrates Akshaya Tritiya today; is it time to invest in gold?