One more SEBI ban…
No not another ban, just another blog. Please also see ‘Sebi bans ulips’ post and the comments. Now we have another problem – the sports minister Mr. Gill has found that the DLF ad contains the word India – and that should not be allowed.
Amazing how Mr. Gill has nothing to do but find fault in IPL – is this foolishness, jealousy, greed, envy….I know not.
Today Mr. Gill is likely to come out with an ordinance saying Mr. Sachin Tendulkar has to play for India in the T 20 world cup. Sachin has batted and captained Mumbai Indians so well, he is a potential Bharat Ratna – how can he say no to playing for India? Then all channels showed this 23, 477 times but nobody knew whether this was good or bad for Sachin. Pakistan passed a resolution that Sachin should not play in T 20 because he had telephonically said he would not play. After all this is not a marriage is it.
Sebi’ s ban of ULIP had affected the endorsement of Sachin for a life insurance company (so sad I do not remember who was the sponsor)..
Sebi and Irda have decided to go to Bandra court (both the organisations have their office in the same jurisdiction. However the Bandra court has adjourned it till December, 2011. Till then ULIP cannot be sold or renewed – this is fantastic for the salaried employees of banks, life insurance companies, brokerage business, etc. They will get their salaries and the hikes in salary. However the agent who got a commission is doomed. He can now take to selling napkins, garments, undergarments, car loans, credit cards, insurance cards, ….but no insurance (term he wont, ulip he cannot). Of course he can sell mutual funds – and he can sell them easily. Dhirendra Kumar of ValueResearchonline.com has decided to call a separate category called super Gold or Platinum. So all that he ranks can be sold…
more to come over the next week
Abhishek Gupta
The Insurance company where Sachin is brand (FIAT ;-)) is AVIVA LIFE INSURANCE.
Sir, Why was LIC spared in this ban. Maximum ULIP policies of So called PLUS (as the SUFFIX) is sold by LIC as it is Considered SAFE by investors. As always LIC Agents continue their PLUS Selling with no BAN.
Regards,
Abhishek
rrp
– “Term he wont, ULIP he cannot”
Nice one , LOL.
– LIC is not there is probably because, (my view)
– It probably has a very large number of customers and they dont want to create nationwide panic.
– Govt has some (ie a lot? :-)) interest in LIC ,and Sebi dont want to make a issue with Govt.
– Sebi has done a lot of things for good of investors. I hope lobbies wont slowly make political moves to dilute its powers.
– Also I hope MFs may not be totally disincentivised in conducting MF business.
(With no entry load, low annual expense ratio etc MF earnings may be affected now)
Retail investors like me need MF to do research and make a good portfofio.