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Kamlesh Rao: 'Aim is to double individual first-year premiums in 3 yrs'

'Currently, our individual first premium would be in the Rs 3,000-Rs 3,200 crore range. We want to take that to about Rs 6,000 crore in three years.'

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Long runway of growth for AMCs

Although net inflows into equity mutual funds deteriorated month-on-month (M-o-M) in March 2024 to Rs 22,576 crore (excluding Hybrid), down 15 per cent M-o-M (up 12 per cent Y-o-Y), asset management companies (AMCs) had a great year with robust growth in assets under management (AUMs).

AMCs are likely to report strong PAT growth (30-40 per cent Y-o-Y) in Q4FY24 on the back of AUM growth.

In Q4FY24, domestic mutual fund (MF) industry's quarterly average AUM grew by 34 per cent Y-o-Y and 10 per cent quarter-on-quarter (Q-o-Q) to Rs 54 trillion ($652 billion).

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India Inc to tap pvt credit for new projects: PwC

Private credit is fast emerging as a major source of finance for projects in India as several entrepreneurs are looking for short-term debt to bridge the funding gap due to difference in pricing for equity dilution, top officials at PwC India said.

They said while new private equity (PE) investments during the past two years have declined, several public market exits by PEs were observed during that period.

Several companies are likely to approach capital markets in the near future to provide liquidity to PE fund investors.

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Quality Control Orders: What does this mean for domestic industry?

From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items.

Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products.

By the latest count, there are 156 QCOs on 672 products.

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M&As pick up pace in Q1

The merger and acquisition (M&As) transactions have picked up pace in the March quarter of 2024 with 455 deals amounting to $25.6 billion deal value announced.

This is a 24 per cent rise in deal volume as compared to Q4CY23, according to PwC India report.

This signals a shift from the declining trend observed in 2023, as per PwC India's report Deals at a glance.

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T N C Rajagopalan: CBIC Goes Soft On GST Investigations

The principal commissioner has been made responsible for developing and approving any intelligence, conducting search, and completing investigations and relevant subsequent actions, including at the lower field formations, points out T N C Rajagopalan.

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Mutual funds sought smallcap treasures in a sea of red

Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices.

Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research.

Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.

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MPC refuses to drop its guard on inflation

Most members of the Reserve Bank of India's monetary policy committee (MPC) decided to stick to the course on bringing retail inflation to the target of 4 per cent while voting for maintaining status quo in the April review, except external member Jayanth Varma who voted for a 25 bps cut in the repo rate.

'I believe that the extant monetary policy setting is well positioned,' RBI governor Shaktikanta Das said in the minutes of the policy review, which came out on Friday.

'Monetary policy transmission is continuing and inflation expectations of households are also getting further anchored.

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How the markets will fare this week

Worries related to the Iran-Israel conflict, quarterly earnings and foreign investors' trading activity are the key factors that would dictate stock markets this week, analysts said.

Besides, trends in Brent crude oil and movement of the rupee against the dollar will also be crucial factors.

This week will be crucial for the market amid ongoing worries about the conflict between Iran and Israel, said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.

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Age limits on health insurance policies removed

The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age cap on buying health insurance policies, effective from April 1, 2024.

Earlier, individuals were restricted to purchasing new insurance policies only until the age of 65.

However, after the recent changes that have come into effect from April 01, 2024, anyone, regardless of age, is eligible to purchase a new health insurance.

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