Investor Issues
ICICIdirect to launch BSE derivatives trading from 21st August

ICICIdirect said the launch is aimed at providing an opportunity for retail customers to participate in the fast growing derivatives segment of the BSE

 
Mumbai: ICICI Securities, the largest integrated securities company on Monday said that it will launch BSE derivatives trading on its investment portal from 21st August, reports PTI.
 
The launch is aimed at providing an opportunity for retail customers to participate in the fast growing derivatives segment of the BSE, a statement issued here said.
 
"We are glad to offer additional choice of exchange and index for our customers to trade," ICICI Securities MD & CEO Anup Bagchi said.
 
With the launch of BSE derivatives on ICICIDirect, which has a customer base of over 2.3 million, the reach of derivatives segment of BSE would increase and the retail segment of investors would be able to participate in a larger way at a fraction of cost," BSE's interim CEO Ashish Chauhan said.
 

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L&T Financial Services calls for changes in norms for NBFCs

L&T said it expects changes from the RBI, including bank finance being classified under priority sector lending and easy access to other fund raising instruments like external borrowings

Mumbai: Larsen and Toubro (L&T) Financial Services has called for changes in requirements governing the non-bank lending segment and asked the sector regulator not to give step-motherly treatment to it, reports PTI.

 

"I think they (non banking financial companies-NBFCs) have played an extremely important role. However, the regulator perhaps considers them as a step-child. I think there are very serious issues when it comes to regulation," L&T Financial Services Chairman and Managing Director YM Deosthalee said at an event over the weekend.

 

He gave out a list of changes which the sector expects from the Reserve Bank of India (RBI), including bank finance being classified under priority sector lending and easy access to other fund raising instruments like external borrowings.

 

"I don't know why achieving PSL targets through NBFCs is a problem? Ultimately reach is important," he said, stressing that the NBFCs are playing an important role in distribution.

 

There are many issues which a NBFC faces on the liability side, he said and asked for steps like liberalising the external commercial borrowings (ECB) window in order to reduce NBFCs' dependence on bank lending.

 

The ex-chief financial officer of engineering and construction major L&T also sought to dispel notions on safety of the sector, stating, "The NBFC model is safer because they have larger capital adequacy. Their net worth is higher. From depositor perspective, they are safe."

 

"Regulation should be pro-development of a sector, rather than killing the sector," he said.

 

With over 12,000 NBFCs, the role of the regulator does tend to get difficult, but Deosthalee stressed on the need to look at well established large NBFCs in a different way, without going into specifics.

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Expo 'Celebrating Age' to tap market of senior citizens

All the major insurances, banks and corporates are planning to tap this market at 'Celebrating Age' an expo on active retirement to be held between 1st September to 21st October in all major cities of India

 
Mumbai: Banks, insurance companies and corporates would tap senior citizens as their target market during the forthcoming expo -- Celebrating Age, reports PTI.
 
Today, banks, insurance companies and corporates are increasingly looking at senior citizens as their target market to take advantage of the enormous investment opportunity presented by this section, Vision India MD Janaki Venketraman said in a statement.
 
The event is being organised by Vision India, in association with the International Longevity Centre India Chapter and supported by International Federation on Ageing (IFA), the Silver Innings Foundation and Association of Seniors Living in India (ASLI).
 
All the major insurances, banks and corporates are planning to tap this market at 'Celebrating Age' an expo on active retirement to be held between 1st September to 21st October in all major cities of India, Venketraman said.
 
It will be held in Bangalore on 1st and 2nd September, followed by other cities like Pune (8-9 September), Mumbai (15-16 September), Ahmedabad (22-23 September), Goa (29-30 September), Chennai (6-7 October), Hyderabad (13-14 October) and Delhi (20-21 October).
 
The expo will also organise exhibition of products and services in the fields of banking, insurance, health and wellness, integrated townships with senior friendly homes and others.
 

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