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IRDAI imposes Rs 24 lakh fine on Policybazaar for violating ad norms The matter relates to Policybazaar sending SMS between March 15, 2020, and April 7, 2020, to its customers without stipulating its full registered name in the message PTI | May 21, 2021 | Updated 08:58 IST Insurance sector regulator IRDAI has slapped a fine of Rs 24 lakh on policy aggregator Policybazaar for violating advertisement norms with regard to SMS sent to customers last year about the increase in term insurance policy premiums. The matter relates to Policybazaar sending SMS between March 15, 2020, and April 7, 2020, to its customers without stipulating its full registered name in the message. The web aggregator had sent SMS to about 10 lakh customers telling them that life insurance prices are set to increase from April 1 and that they could save up to Rs 1.65 lakh by buying a term plan. The Insurance Regulatory and Development Authority of India (IRDAI) levied three charges on Policyba ....
Time taken to doublemoney: N.AThe ICICI Prudential healthcare ETF aims to provide returns that closely correspond to the returns provided by the Nifty Healthcare Index in the same proportions, subject to tracking errors. The fund will provide investors a choice to take exposure to multiple facets of healthcare through this product, the fund house said in a statement without disclosing what will be the target of the fund. The company said the new ETF is timely given the rising health problems, lifestyle choices and outbreak of the pandemic and the sector has a strong potential to grow steadily in the coming decade. ....
An across-the-board sell-off dragged the benchmark indices around a per cent lower on Friday as sombre global mood hit markets during the second-half of the trading session. US 10-year Treasury yields rose again on Friday, back above 1.6 per cent, and were on track to rise for the seventh straight week. Add to it, the dollar index rose 0.4 per cent denting sentiment further. Against this backdrop, gains in Asian stock markets proved tough to match for most of European peers, after they hit a 1-year high in the prior session. Nasdaq Futures, which tumbled over 1.5 per cent, or 200 points, also suggested a lower start for Wall Street later in the day. ....
Focused funds beat other schemes in returns × ICICI Prudential tops the list with 49 per cent returns, followed by Mirae Asset at 46% The sharp rally in the equity market during the last few months has focused funds delivering much better returns than other category of mutual fund schemes. As per the SEBI Scheme categorisation mandate, the portfolio in focused fund should be not more than 30 stocks. The objective of focused funds is to deliver higher returns by investing in a limited number of high conviction stocks with strong growth prospects. During the pandemic, the fund manager steered the focus of the portfolio on themes that could benefit from the disruption caused by Covid pandemic. The focus was to invest in companies with strong balance sheets and better earnings visibility. ....
ICICI Prudential Mutual Fund (MF) sold 8.10 lakh equity shares, or 0.32% stake, in Tata Chemicals on Thursday, 4 March 2021.As a result of the aforesaid transactions, the shareholding of the fund has decreased to 3.05% compared with 3.37% held earlier. On a consolidated basis, the chemical maker s net profit rose 0.2% to Rs 200.72 crore on a 0.7% decline in net sales to Rs 2,606.08 crore in Q3 FY21 over Q3 FY20. Shares of Tata Chemicals advanced 2.17% to Rs 764.30 on BSE. Tata Chemicals is a global company with interests in businesses that focus on basic chemistry products and specialty chemistry products. Powered by Capital Market - Live News ....