Chirag Madia

Articles By Chirag Madia

207 Articles

Corporate bad debt push up LIC’s NPAs

In 2019-20, LIC's total premium income grew 12.42% to Rs 3.79 lakh crore. The gross total income grew to Rs 6.15 lakh crore, up 9.8% over the previous year.

Data from Insurance Regulatory and Development Authority of India (Irdai) shows that LIC's new business premium was Rs 1.77 lakh crore in 2019-20, reflecting a growth of 25.17% over the previous year.

One should anchor to quality part of the market: IDFC Mutual Fund’s Suyash Choudhary

The portfolio construct should be such that whenever investors ask for their money back, the fund manager should be able to sell the securities and pay back to investors.

Suyash Choudhary, Head – Fixed Income, IDFC Asset Management Company

Cyber insurance still at a nascent stage in India

According to the Internet Crime Report for 2019, released by FBI's Internet Crime Complaint Centre, India ranks third among the top 20 countries that are victims of cybercrimes.

Money needs to be either spent or invested and not saved: Sujoy Das, head- fixed income at Invesco MF

Ideally bond yields should move lower because of easy liquidity and rate reductions by RBI along with accommodative stance.

Over the last 1-2 years, these segments have been outperforming the rest of the debt market.

Covid-19 insurance claims at Rs 280 crore; more than 18,100 claims received so far

The Insurance Regulatory and Development Authority of India (Irdai) has said insurers can offer Covid-19-specific short-term health policies both as individual or group products.

Short-term policies may be issued for a minimum term of three months to a maximum term of 11 months.

UTI IPO Sebi approval paves way for less govt interference in the fund

India’s law does not allow any sponsor such as SBI, PNB, BoB or LIC to hold more than a 10% stake in more than one asset management company, but an initial waiver was given.

In March 2018, Sebi said the four PSUs would have to comply with the rules, but it did not enforce this and, instead, gave an extension for a year.

IRDAI’s mandatory Standard Covid-19 cover may cost Rs 2000-Rs 3000 premium for Rs 5 lakh sum insured

Insurance companies are still working on the premium amount for this product, but it is estimated that premiums will be in the range of Rs 2,000-3,000 for a sum insured of Rs 5 lakh.

This policy will be a standard product with common policy wordings across the industry.

Insurers get 9,700 claims worth Rs 150 crore for Covid-19

Participants in the non-life insurance industry believes that given the current scenario claims would further increase from states like Maharashtra and Delhi in the days to come.

Debt funds see sharp surge in assets under management in May

Data from Association of Mutual Funds in India (Amfi) show that daily AUM of debt funds at the end of May 29 stood at Rs 6.18 lakh crore against Rs 5.92 lakh crore in April — an increase of Rs 26,400 crore.

A team of data scientists at the University of Michigan projects the outbreak will nearly triple over the next month to more than 800,000 cases, a situation that would put pressure on its rickety healthcare system.

Fund houses have exposure of Rs 143.93 crore in debt papers issued by Essel Group cos: Data

All the four schemes of Franklin Templeton MF that had exposure to Essel Infraprojects are currently under winding-up by the fund house.

franklin templeton mutual fund, essel group, essel infraprojects, mutual fund houses in India, essel group financial crisis

Covid package: Nilesh Shah hails govt intention, says execution of policies must follow

Kotak Mahindra AMC managing director Nilesh Shah said while the intention of the government has been right in framing policies to fight the impact of Covid-19, these must be followed by execution.

Franklin Templeton sees redemptions in other debt schemes as well

Despite the fall in AUM under the debt category, investors continued to show faith in the equity schemes of the Franklin Templeton MF.

The fund house had stated that closing of schemes was due to the severe market dislocation and illiquidity caused by Covid-19.

Pandemic fallout: Downgrades rise, no let-up seen in FY21

At 21 downgrades a day between January and April, Corporate India’s finances continue to remain under pressure.

Franklin Templeton debacle to hit investors very hard

The regulator had also observed that mutual funds should not depend totally on credit rating agencies but should do their own assessments.

Mutual funds have been in trouble over the past year over defaults with SEBI frowning upon measures such as standstill agreements with borrowers saying the regulations did not permit them.

Covid-19 impact: Even the best of banks, Corporate India to plumb new depths

21 downgrades a day since January compared with 15 between January and mid-March.

Better to buy comprehensive health cover than disease-specific cover: Insurance cos

However, if someone wants to buy a comprehensive health cover, it would cost them Rs 8,000-11,000 for Rs 10 lakh sum insured.

Insurance players say that policyholders need to first have a comprehensive health cover and later buy add-on covers of specific illness like novel coronavirus or Cancer Care.

Non-life insurers receive Rs 3-crore claims for Covid-19

According to the ministry of health and family welfare as on April 9, 2020, there are 5,218 active cases of novel coronavirus in India and there has been 169 deaths due to this pandemic.

india insurance industry, insurance sector, fraud in insurance, premium

Insurers approach insurance council to standardise treatment rates for Covid-19

According to general insurance companies, currently rates for treatment of novel coronavirus are different for isolation wards and are charged differently by private hospitals.

general insurance council, gic, standard insurance rates for covid-19 patients, insurance for coronavirus, differential cost for coronavirus patients, general insurers for coronavirus

RBI will have to consider buying corporate bonds directly from market, says Dhawal Dalal

Global central bankers like US Federal Reserve (Fed) and European Central Bank (ECB) have announced facilities to buy corporate bonds from the markets, unlike in India where the Reserve Bank of India (RBI) has asked banks to

RBI, Global central bankers, US Federal Reserve, European Central Bank, Edelweiss AMC, Dhawal Dalal, GST collections, GDP, corporate bonds

Estimate is that primary markets will be biggest beneficiary of TLTROs, says Axis AMC’s R Sivakumar

From our perspective, we see this as a big support not just to mutual funds, but also the support to the primary markets because 50% of the amount is to be used in primary markets and remaining 50% in secondary markets.

RBI effect! Banking, auto stocks gain; realty in the red

RBI on Thursday relaxed the cash reserve ratio (CRR) requirement for scheduled commercial banks for retail loans for automobiles, residential housing and micro, small and medium enterprises (MSMEs).

RBI, cash reserve ratio, MSME, BSE Realty Index, stress asset funds, commercial real estate

Cutting Exposure: Franklin MF replies to Sebi’s Vodafone Idea query

The Sebi chief also said that the Association of Mutual Funds in India (Amfi) has prescribed the metrics on what should fund houses do if the debt instruments fall below investment grade.

The Securities and Exchange Board of India (Sebi) had sought comments from the fund house.

Income under Section 194K: Amfi to seek clarity from govt

Earlier, dividends were tax free in the hands of investors as DDT by debt fund was 25% for individuals and Hindu Undivided Family (HUF) and 30% for others.

ddt, sebi, investors, dividend tac, finance minister, nirmala sitharaman, budget 2020, Amfi, income tax

Budget 2020: Why tax cuts could fall flat

Budget 2020-21: The existing cess—health and education of 4%—and the surcharges continue to be applicable for the new structure.

Three apply for two posts at insurance regulator

In October, the Department of Financial Services at the ministry of finance had invited applications for filling up the positions of member for distribution and member for actuary at Irdai.

insurance regulator, posts at insurance regulator, Irdai, Oriental Insurance, insurance industry, Department of Financial Services

Why investors have kept faith in equity Mutual Fund SIP

SIPs are similar to a recurring deposit where you deposit a small or fixed amount every month.

Incurring huge losses under PMSBY, insurers urge govt to hike premium

According to the data from the jansuraskha.gov.in, 17.03 crore enrolments have been done under the PMSBY, while total number of claims disbursed stood at 36,152 as on December 6, 2019.

Income Tax Calculator, Budget 2019, How to Calculate Income Tax


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