Coming down heavily on pesky callers, telecom regulator Trai on Wednesday said it has penalised some service providers, but has given banks time till mid-December to check unsolicited commercial calls and SMSs. Chairman Rahul Khullar said insurance companies have asked for 4-6 weeks to deal with unsolicited commercial call or SMS. “We have implemented the guidelines on pesky calls and have penalised some operators. We have so far not penalised banks and insurance companies,” Khullar said.
RRBs must meet 9% adequacy ratio from March 2014: RBI
Regional Rural Banks will have to meet a minimum capital adequacy ratio of 9% with effect from March 31, 2014, the RBI said in a notification. So far RRBs were required to disclose their capital adequacy in notes to accounts of their balance sheets and had not been mandated a desired capital adequacy level so far.
BSE set to launch currency derivative platform on Friday
The BSE will launch its platform for trading in currency derivatives from Friday, making it the fourth bourse in the country to offer such trades. Other stock exchanges present in the currency futures segment are NSE, MCX-SX and USE. “Exchange is pleased to inform trading members that it will be launching trading in currency and interest rate derivatives with effect from Friday, November 29,” BSE said. The currency futures trading would be commenced on the contracts on US dollar, euro, British pound and Japanese yen.
Reliance Life ties up with five insurance repositories
Reliance Life Insurance on Wednesday said it has joined hands with all five insurance repositories to provide life insurance policies in electronic form. Reliance Life Insurance has tied up with five insurance repositories — Database Management, Central Insurance Repository, SHCIL Projects, CAMS Repository Services and Karvy Insurance — to enable and encourage policyholders to hold their insurance policies in demat form.