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Pant and Patnaik take charge as new LIC MDs, FSIB to interview 4 MDs to select a new CEO soon
The MDs who will be appearing for the FSIB interview are-Sat Pal...
LIC tops PSUs chart with record Rs 19,013 cr profit in Q4
The insurance behemoth was followed by the country's biggest lender...
Budget 2023-24:Taxing Time for Life Insurers
Government aims to plug the arbitrage which HNIs and other wealthy individuals are employing to get healthy tax-free returns on their lumpy Non-Par insurancepurchases The cap of Rs5 lakh will be applicable for all policies bought across insurers. Thus, as the policy...
Adani Enterprises calls off fully subscribed FPO, to return money to investors
Gautam Adani, Chairman, Adani Enterprises Adani Enterprises nosedived 28.45 per cent to settle at Rs 2,128.70 on the exchange. Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations in its report, including...
47.8 cr Jan Dhan accounts opened: FM
Pradhan Mantri Jan Dhan Yojana (PMJDY) is the national mission for financial inclusion to ensure access to financial services -- savings and deposit accounts, remittance, credit, insurance and pension in an affordable manner. New Delhi: As many as 47.8 crore Jan Dhan...
LIC says it has exposure of Rs 36,474.78 crore to Adani group
''Our total holding in the Adani group companies under equity and debt a on date is Rs 36,474.78 crore. This was Rs 35,917.31 crore as of December 31, 2022. Total purchase value of these equities of the group companies, bought over the past many years, is Rs 30,127...
Bajaj Finserv net income jumps 42 pc to Rs 1,782 crore
The general insurance arm's net profit declined 9 per cent to 278 crore from Rs 304 crore and that of life insurance arm's too declined 8 per cent to Rs 81 crore from Rs 88 crore. Mumbai:Bajaj Finserv, holding company of Bajaj Group's financial services businesses, on...
FSIB recommends M Jaggannath and Tablesh Pandya for 2 posts of LIC MDs
Jagannath, currently zonal manager, South Central Zone, LIC will be succeeding Raj Kumar who will be retiring tomorrow while Pandya will replace Vishnu Pattnaik who will be retiring in March end Year 2023 will see complete change of LIC’s top management, as starting...
LIC continues to bet big on Adani, remains in green despite share price rout
According to stock exchange information, LIC made a total investment of Rs 28,400 crore in Adani shares over the last few years. The value of these shares was Rs 72,200 crore before the report of the US short seller triggered a stock price crash over the last two...
FSIB to interview 6 sr LIC officials on Monday to select 2 MDs
Year 2023 will see complete change of LIC's top management, as starting with Kumar, other three MDs, BC Pattanaik, Mini Ipe and Siddarth Mohanty along with MR Kumar,chairman will be retiring in next six months New Delhi: The Financial Services Institution Bureau...
Budget- 2023-24:FM may announce sops for middle class
Nirmala Sitharaman, Union Finance Minister The insurance industry has been pitching for a separate tax deduction provision for life insurance, tax waiver for annuity income, and higher deductions for health insurance premiums. New Delhi: The finance ministry is...
India Protection Gap: Term insurance ownership remains stagnant
The following findings reveal insights that highlight urban India’s shift in attitude and approach towards financial preparedness as shown in a survey-India Protection Quotient 5.0,fifth edition(1st edition of the survey was done in 2019) conducted by Max Life...