Finance Minister Pranab Mukherjee today said the chairman of Securities & Exchange Board of India (Sebi) and the chairman of Insurance Regulatory Authority of India (IRDA) have agreed to jointly seek binding legal mandate on jurisdiction.
According to Pranab Mukherjee “Meanwhile, status quo ante is being restored,” he told reporters outside the finance ministry.
On Late friday SEBI had banned 14 insurers from selling the products.While IRDA, on Saturday, asked insurers to ignore the ban and continue with the sales of the products.
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Tags: Economy of India Pranab Mukherjee Securities & Exchange Board of India U.S. Securities and Exchange Commission
Markets all over the world showed a positive on friday’s it looks like market will remain positive this week.The US market has closed in the green on Friday. The Dow Jones edged up 70.28 points to close at 10997.35. Adding 17.24 points, the Nasdaq is ended at 2454.05 levels. The S&P 500 closed shop at 1194.37, up 7.93 points from its previous close.Over the past week, the Bombay Stock Exchange’s 30-share Sensex gained 1.35% to settle at 17,933.14 points, stretching the weekly gaining streak to nine in a row, on the back of sustained buying by FIIs since early February.
In Asia, China’s Shanghai closed with a gain of 0.85%, Japan’s Nikkei rose 0.32% and Hong Kong’s Hang Seng jumped 1.56%.
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Tags: BSE Sensex Dow Jones & Company Dow Jones Industrial Average Economy of the United States