SEBI, IRDA row hits stock markets

India s main share index slipped 0.1 percent on Monday, taking a breather after its ninth straight week of gains, while sentiment was also impacted by a row between regulators over an insurance product linked to the stock market. Late on Friday, market regulator the Securities and Exchange Board of India (SEBI) said it barred 14 life insurance companies from issuing unit-linked insurance products (ULIPs) with immediate effect. ULIPs offered by the said entities are a combination of investment and insurance and, therefore, the investment components are in the nature of mutual funds which can only be offered/launched after obtaining registration ...

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