The liquidity crunch can increase due to high demand of cash for Dussera and the auction of government securities worth Rs 17,000-crore. The banks have already cut the lending and MFs are interested to access overnight funds from RBI like the other banks.
Various funds houses also discussed the situation and met with the deputy governors of the Reserve Bank.
A CEO of a leading fund house said that fund houses should be allowed to raise money through repo transactions with banks and financial institutions.
The Insurance Regulatory and Development Authority (Irda) asked the Life Insurance Council to revise its decision regarding group covers on mutual fund (MFs) products. The Life Insurance Council is a self-regulatory body of insurers to represent the insurance firms. The regulatory body described the decision as very injudicious and unfair. The Chairman of Association of Mutual Funds in India, A P Kurian termed the decision as unilateral and demanded its early revision. It is recalled that some life insurance companies have ended the system of bundling on a host of financial products.
UTI Mutual Fund is all set to open around 200 branches across the country by March, next fiscal.
The company aims to further expand its distribution network from 97 UTI Financial centers to 200 centers covering around 422 districts.
According to the company, it will open new UTI Financial Centre in Anantnag, Baramulla, Doda, Jammu, Kathua, Kupwara, Kargil, Ladakh, Poonch, Pulwama, Rajouri, Srinagar and Udhampur, to focus on service sector in Jammu and Kashmir.
New York, Sept. 26 : US federal regulators have seized assets of Washington Mutual, the giant lender, and sold some of it in a bid to arrest the meltdown on Wall Street.
Regulators brokered an emergency sale of virtually all of Washington Mutual — the nation’s largest savings and loan, with $307 billion in assets — to J P Morgan Chase, reports the New York Times.
The move came as lawmakers were stalemated over the passage of a 700 billion dollar bailout fund meant to help ailing banks, and removes one of America’s most troubled banks from the financial landscape while mitigating another potentially huge taxpayer bill for the rescue of another failing institution.
Shareholders and some bondholders will be wiped out.
Private sector insurer Aviva Life Insurance has launched ‘IndiaBond’, a single premium, endowment plan with guaranteed maturity benefits to provide prosperity and peace of mind to its policyholders.
The plan offers a compounded return of 7% per annum on maturity, depending upon the policy term and the Single Premium amount.
and the auction of government securities worth Rs 17,000-crore. The banks have already cut the lending and MFs are interested to access overnight funds from RBI like the other banks. 
Council to revise its decision regarding group covers on mutual fund (MFs) products. The Life Insurance Council is a self-regulatory body of insurers to represent the insurance firms. The regulatory body described the decision as very injudicious and unfair. The Chairman of Association of Mutual Funds in India, A P Kurian termed the decision as unilateral and demanded its early revision. It is recalled that some life insurance companies have ended the system of bundling on a host of financial products.
UTI Mutual Fund is all set to open around 200 branches across the country by March, next fiscal. 
Private sector insurer Aviva Life Insurance has launched ‘IndiaBond’, a single premium, endowment plan with guaranteed maturity benefits to provide prosperity and peace of mind to its policyholders. 
