Business Standard
14th May
75,000: The number of new registrations for systematic investment plans (SIPs) fell to a 13-month low of 75,000 in April 2020.
- This was an 11% drop from the number of new registrations in March
- The SIP closure ratio — closure requests as a proportion of new registrations — spiked to 72% from 70% the previous month
- While a weak investment environment in view of the coronavirus crisis persisted, April saw 540,000 SIP closure requests
- SIP contributions across India in April stood at 8,376 crore — 3% lower than the previous month.
- However, even as new registrations fell, closures in April also declined from over 600,000 in March. This was seen as a positive sign by many.
Disclaimer: This information is from a third party—Business Standard—offered through a tie-up to Kotak Securities customers. Click here for complete disclaimer.
A few links for further reading
Insecure and uncertain in insurance business as Covid-18 damage claims mount
Insurance companies around the world were sailing smoothly, helped by growth in emerging markets and strong capitalisation. Things changed in late February when markets realised that Covid-19’s impact on insurers could be significant. Insurers are yet to know the full impact of the crisis as governments and regulators nudge them to give moratoriums to policyholders and quickly settle claims too. India’s insurance regulator has set strict deadlines for medical insurers to settle Covid-19 claims. General insurers face damage claims from businesses devastated by the national lockdown to contain the disease. Is insurance secured to survive, Joydeep Ghosh explains
The unravelling
There was a time when pay cuts we see today were a complete no-no; govt and public sector jobs were considered safe, as pay and pensions were both assured. Not any longer, it seems, writes T N Ninan
Quick approval, grace period
The COVID-19 pandemic has brought home the significance of health and life insurance like nothing else earlier. Even those who were blasé about these covers in the past are now looking to buy a new policy or want to enhance the sum insured on their existing ones. Meanwhile, the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing a slew of guidelines to health/general and life insurance companies aimed at easing matters for customers.