NEW DELHI : India had 162 million demat accounts as of June, and 93 million SIP (systematic investment plan) accounts as of July—a strong indicator of increasing financialization in the country. Still, there are places where terms like “Sensex” or “Nifty” are foreign to people. Kargil, in the Union territory of Ladakh, over 200 kilometres … Read more
The International Financial Services Authority (IFSCA), which regulates GIFT City, has proposed a reduction in the minimum ticket size for portfolio management services (PMS) from $150,000 to $75,000, or about ₹64 lakh at current exchange rates, according to a consultation paper released on Monday. This brings the minimum ticket size for PMS closer to the … Read more
In a best-practices circular released on Tuesday, the Association of Mutual Funds in (AMFI) India said distributors can now earn trail commission on assets under management (AUM) switched to them by investors. Previously, AMCs withheld this commission to discourage unhealthy competition among distributors. However, the industry body has stipulated a cooling-off period of six months. … Read more