It’s time for quarterly results and ICICI Prudential Life Insurance company has declared Q2 FY22-23 results. The company reported YoY decline of -0.97% in revenue and -55.09% in net profit. The company cited fall in investment income as the reason for declining earnings. The September quarter revenues stood at Rs. 22,904 Crore and Profit After Tax (PAT) was at around Rs. 200 Crore.
PAN Card is an important document for Indians. Apart from filling income tax, PAN is also required for most of the financial investments/ transactions. PAN is also accepted as a proof of identity and date of birth at many places.
You may not be carrying PAN Card across all times for showing it. Some people have misplaced their PAN card & do not find time to apply for duplicate. For all such instances, e-PAN comes handy which is easy to download instantly.
You can download e-PAN by these simple steps :
https://www.onlineservices.nsdl.com/paam/requestAndDownloadEPAN.html
Now you are ready to use your PAN.
If you are a stock market investor, then you must be knowing the risk of investing into equity markets. Everyday across the media you must be hearing news of either FIIs pulling out money or FIIs pouring in money in Indian markets. We know FIIs stand for Foreign Institutional Investors and they control the market in terms of taking it high or low by their money power. But as layman we understand less about these Foreign Investors. Let’s try to understand these Foreign Investors in simple terms and what they do in India.
| Foreign Institutional Investors (FIIs) | Qualified Foreign Investors (QFI) |
| These are foreign institutional investors who wants to invest in financial markets outside their home country. | QFI was introduced in year 2002. They can be an individual, group, or association. QFIs can invest in India without sub-account with FIIs and just by opening their DMAT A/C. |
| Governments Central Banks Pension Funds Hedge Funds Mutual Funds Wealth Funds Insurance Companies Re-insurance Companies Investment Banks | Individuals Families Charitable Trusts Body corporates Brokers Advisors |
What happens when FPIs move their money ?
Mutual Fund distributors/intermediaries used to collect your funds in an interim pool account and then channelize the same to Mutual Fund houses/ exchange. However, to provide more convenient and transparency to mutual fund investors, SEBI in its circular dated 4th October 2021 has directed that, there will be “discontinuation of usage of pool accounts for transactions in units of Mutual Funds on the Stock Exchange Platforms”.
By this circular, intermediaries will not be able to accept payments/transactions in their name or in their pool account. SEBI wants that, investors money should go directly from the investor’s account to that of the mutual fund company account. To comply with the new directive, intermediaries who carry out mutual funds transactions have to put in new process to ensure that funds pay-in are directly received by the clearing corporation from the investor’s account and in case of funds pay-out it directly goes to the investors account. In short, SEBI wants mutual funds money Pay-in/ pay-out should not be handled by the stock brokers/clearing members. This change in process will be applicable for both SIP and lumpsum mutual fund investments.
Market regulator SEBI has initially asked AMCs, recognised Stock Exchanges, Depositories and recognised Clearing Corporations to make necessary changes and implement system requirements to comply with the circular by 1st April 2022. Recently SEBI has further extended the timeline to comply till 1st July 2022 on request of various industry players but in the meantime to build pressure to comply with the new directive the regulator has put a stop on any NFO launch for next three months.
As the industry is developing new process and system changes for this initiative, all mutual fund investors will receive communication from their mutual fund distributor of the new process that they have planned for future. Read the communication that you receive and follow the new process. If you have running SIP or you have scheduled lumpsum purchase, then you may have to adhere to the new changes that your distributor is implementing.
Industry is looking forward for e-NACH registration from mutual fund investors as a solution to this new directive.
You can refer the details of the SEBI circular at the below link.
With increased digitization, we do everything digitally and use internet for almost everything. Online purchase to online payments, online doctor consultation to online yoga, online ticket booking to online education, this is the new age and this is how we all use technology. This leaves us with more exposure to cyber fraud. Cyber-crime is heard almost every day. The challenge here is, how do we protect our data, recover data, protect our money, secure transactions etc. ? While on technology side security enhancements are taking place, the general insurance companies have come us with Cyber Insurance Policies which provides certain protections/ coverage.
Cyber insurance policy can be purchased by individuals and also by businesses. The coverages provided are designed looking at the individual’s need and corporate need. These cyber insurance policies provide cover for:
Note: just that you have a cyber insurance policy does not mean that you be careless. All such policies want you to take standard precautionary measures and in case you have neglected they may decline your claim. Further, as of now cyber insurance does not provide cover for crypto related matters.
India is a cricket crazy country with fans across all age groups. Every year companies/ advertisers wait for the cricket season for reaching out mass market via advertising around cricket. Off late IPL & T20 cricket has been super hit and it is perceived not as sports but as celebration like any other festival in India. Fans wait months/ years for buying tickets, also go and spend heavy during matches.
Looking at the fan following, this IPL-2022 season ICICI Bank has partnered with Chennai Super Kings (CSK) Team and has recently launched its “Chennai Super Kings ICICI Bank Co-Branded Credit Card”.
Here are the key features of Chennai Super Kings ICICI Bank Co-Branded Credit Card:
This being a Credit Card with lot of features, surely will appeal to a lot of young CSK fans. Customers can register their interest in this card by filling simple online form at ICICI bank’s website or by sending SMS (‘KING’ to 5676766).
Raipur based Eighty Jewellers Limited. has come up with its IPO. The company has been in operation since year 2010. They are primarily into B2B jewellery business and sell their manufacturing to jewellery stores/distributors. They operate under master franchisee of Anopchand Tilokchand Jewellers Private Limited. which is their flagship brand/group company. The company deals in verity of luxury jewelleries and ornaments of gold-platinum-silver-diamond. They also deal in luxury watches, precious stone jewellery etc.
The details of the IPO are as below:
Disclaimer: Investment in equity markets involves high degree of risk, please read the IPO document carefully before investing.
Uma Exports Limited IPO has been opened for application on 28th March 2022. The company wants to raise 60 Crores via this public offer. The company has been in operation since 1988 & is head quartered at Mumbai. They are basically into marketing & trading of food produce (rice-wheat-pulses-spices-food gains-sugar- other agricultural produces). Uma Export also imports food produce from overseas and distribute in home country. They also have export facility of food grains to select neighbouring countries. The company has floated this public issue to raise funds for expansion and day to day working capital needs.
The details of the IPO are as below:
Disclaimer: Investment in equity markets involves high degree of risk, please read the IPO document carefully before investing.
Mutual Fund investments are one of the lucrative investments for long term higher returns. Systematic Investment Plan (SIP) in mutual funds are now very popular among retail investors in India. Every day we hear new records in SIPs as more and more people are joining the bandwagon. There are various plus points in SIP investment, you must be aware of all these advantages of investing in mutual funds through the SIP route.
Diversified way of Equity Investment – Mutual Fund SIPs are diversified ways of investing in equity markets.
Mutual Funds are regulated by SEBI & also have AMFI overlooking investors interest. So customers grievances will be addressed without any say.
PAN is required very much now for all financial transactions. Apart from financial transactions, PAN is now a day required at many other places.
Who all can get a PAN Card ?
Where PAN can is a must ?
If you have started working in a company/ government job and receiving salary, you have to produce PAN to your employer. Employer will deduct TDS if you fall under taxable income. If you are working as a consultant or as a professional, then also you need to produce PAN for TDS deduction.
Finally, we all know to file income tax return we need PAN Card.
