Finance

The Securities and Exchange Board of India (Sebi) on Friday imposed a penalty of Rs 10 lakh each on Life Insurance Corporation of India (LIC), State Bank of India (SBI) and Bank of Baroda (BoB) for failing to reduce their stake in UTI Mutual Fund (MF) below 10 per cent within the stipulated time. The regulator passed separate orders against the three state-owned firms for non-compliance of Regulation 7B of Sebi MF Regulations. Under the said regulation, no sponsor of an MF is allowed to hold more than 10 per cent of any other mutual fund…

August 13, 2020 8 min readOpinions expressed by Entrepreneur contributors are their own. Have you ever released an offer into the world that you put your heart and soul into? An offer that made you giddy, such that you were waiting for the dollar bills to flood your bank account and your DMs to overflow on social media, only to get no response? If you’ve been in business for a while, this has likely happened to you. It’s happened to every entrepreneur I know at least once. This disappointment happens because entrepreneurs set out to create offers focused on…

The Reserve Bank of India (RBI) on Thursday announced that lending institutions like banks and non-banking finance companies (NBFCs) could now lend up to 90 per cent of the value of gold jewellery, raising the cap from 75 per cent earlier. The RBI increased the LTV (loan-to-value) ratio on gold loans to provide relief to borrowers looking to take gold loans to mitigate the financial exigencies caused by the coronavirus crisis. Here’s what you must know: RBI statement on gold loan The RBI said: “As per the extant guidelines, loans sanctioned by banks against pledge of…

Markets regulator the Securities and Exchange Board of India has lifted its trading ban on five entities, including Ruchi Global and Ruchi Soya Industries, in a case related to alleged manipulation in castor seeds trading. National Steel & Agro Industries, Secunderabad Oils, and UKS Oils are the other entities on whom the ban has been lifted. Through two interim orders passed in March 2016 and May 2016, Sebi had barred the five entities, among others, from the securities markets for alleged fraudulent and manipulative trading in castor seeds on leading commodity bourse NCDEX. …

Read about all the ways you can make money from your content – and how to get started.Free Book Preview Ultimate Guide to Social Media Marketing This book takes readers through a 360-degree perspective of social media marketing in businesses. August 12, 2020 5 min readOpinions expressed by Entrepreneur contributors are their own. Online content has gotten incredibly popular for a handful of motivating reasons. First, it’s easier than ever to publish your own content: Anyone (even those with no money) can start blog, upload recorded videos or even live stream. Second, demand for online content is skyrocketing;…

The Covid-19 pandemic has brought about a big shift in the insurance preference for customers. While the pandemic has made corporates take up the responsibility of providing insurance coverage to their employees by subscribing to group insurance plans, the financial uncertainty the pandemic has created has pushed back individuals from buying into insurance. In the month of July, group annualised premium equivalent (APE) has reported a strong performance, with 50.3 per cent year-on-year growth. APE is the sum of annualised first-year premiums on regular premium policies and 10 per cent of…

India’s long-established tea industry is struggling. Heavy rains and the absence of tea pickers because of lockdowns have hammered production and sent local prices spiraling to records, while top buyers are turning to Kenya where the market has dropped, said Azam Monem, director at Mcleod Russel India, one of the country’s biggest growers. Output in the world’s second-largest producer is set to shrink to the smallest in five years, falling 13 per cent to about 1.21 billion kilograms, while exports will drop 16 per cent to about 210 million kilograms, a…

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