The Reserve Bank of India has asked banks not to refuse education loans even if the applicant does not reside in the bank's service area. It has said that norms on service area have to be followed only for government-sponsored schemes and are not applicable to sanction of educational loans. Banks have been advised to strictly comply with the guideline.
110% is the jump in sale of gold ETFs on the NSE this Dhanteras over last year
Market regulator Securities and Exchanges Board of India has permitted mutual funds to participate in the credit default swaps (CDS) market. Fund houses will have to follow the guidelines issued on CDS for corporate bonds by the central bank. In a swap agreement, the seller agrees to compensate the buyer in the event of a loan defaultINSURANCE
The Insurance Regulatory and Development Authority has expanded the definition of 'infrastructure facility', expanding the investment avenues of insurance companies. Insurance companies, both life and non-life, have to invest a certain percentage of their portfolio in infrastructure.TELECOM
In a fresh bid to curb unsolicited promotional messages, the Telecom Regulatory Authority of India has announced new measures, including higher tariff for sending over 100 text messages in a day. The regulator has also proposed an simpler system to file complaints. All text messages sent by a subscriber in excess of 100 a day would be charged at least 50 paise more for every subsequent message.