Veritas to cover Indian stocks from 2012

Earlier this year, Veritas Asia released two India-related reports: one covering RIL and RCom, and another on UB Holdings and Kingfisher Airlines

Canada-based Veritas Investment Research Corp said it would start covering Indian stocks from the new year, as part of its global expansion plans.

In a statement issued from Toronto, the investment research firm said it would launch coverage from January 2012 to mark the next phase of its growth in its 12th year of operations. It will focus on large-cap firms and initially cover the BSE-100 index constituents for its research reports.

Veritas said it was a company 100% owned-and-operated by employees and its clients were global pension funds, institutional money managers, regulatory bodies and law enforcement agencies.

The company claimed its reports provide "unbiased advice with no brokerage or investment banking conflicts of interest."

Veritas' head of research, Neeraj Monga, said the firm would "write in-depth reports (on Indian companies) covering governance and accounting policy... Valuations on firms will be benchmarked to relevant global peers." Earlier this year, Veritas Asia released two India-related reports: one covering RIL and RCom, and another on UB Holdings and Kingfisher Airlines.

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ICICIdirect starts comprehensive tax planning campaign

The campaign aims to provide vital information on financial products that not only maximise tax saving, but also offer better wealth creation and protection plans

ICICIdirect said that it has launched a multi-city comprehensive tax planning campaign in India.

ICICIdirect Tax Planning Campaign will start with in-store sessions on December 16 and 17 across 250 stores in India. The campaign aims to provide vital information on financial products that not only maximise tax saving, but also offer better wealth creation and protection plans.

The campaign will span across our stores in 66 cities, as well as reach out to the 2.2 million ICICIdirect.com customers through webetorials and emailers.
The tax planning sessions will help customers choose from the selected range of mutual fund schemes, life insurance and health insurance products that are designed to meet a range of wealth creation, protection and tax saving needs.

ICICIdirect offers products that are eligible for tax deduction under sections 80D, 80CCF and 80D of the Income tax Act.

ICICI Securities is an integrated securities firm offering a wide range of services including investment banking, institutional broking, retail broking, private wealth management, and financial product distribution.

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IRDA working to put life policies in electronic form

Policies in electronic form and an e-insurance account will reduce hassles for buyers for the need for multiple numbers of proofs like age and address every time a policy is bought

Insurance Regulatory Development Authority (IRDA) has been working on the idea to put life insurance policies in electronic format by April 2012, a top official of insurance brokers' association said on Friday.

"Stock Holding Corporation, Central Depository Services Ltd, NSDL, Karvy Computers and Computer Age Management Services are already working with the insures and the regulator to put in place the procedure," Insurance Brokers Association of India President Sohanlal Kadel said.

He said such system for general insurance policies will also be introduced later where motor policies are likely to be taken up first followed by health.

Policies in electronic form and an e-insurance account will reduce hassles for buyers for the need for multiple numbers of proofs like age and address every time a policy is bought. It will also save insurers money used to print and dispatch policies.

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