This enhanced limit will be available to those companies which...
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GST rates will come down further: Sitharaman
Nirmala Sitharaman, Union Finance Minister Responding to a question...
LIC emerges as 3rd top global insurance brands: Brand Finance
In terms of overall brand value, LIC holds the 12th position among...
Joshi takes over as new DFS Secy
Senior bureaucrat Vivek Joshi on Tuesday took charge as the Secretary of the Department of Financial Services (DFS) under the Ministry of Finance. Joshi replaced Sanjay Malhotra who is slated to take over as Revenue Secretary.rior to this appointment, Joshi, a 1989...
LIC shareholding in Tata Motors crosses 5 pc
''Holding in the company has crossed 5 per cent on October 31, 2022,'' LIC said. The acquisition of shares were done during the period from December 3, 2021 to October 31, 2022 at an average cost of Rs 455.69. Mumbai: Shareholding by Life Insurance Corporation (LIC)...
Global investments in InsurTechs fall 2.5% to $2.35 billion in Q2 2022
In this most recent quarter, 53.5% of all disclosed APAC funding went into India-based InsurTechs, which raised an impressive $210.76 million. In terms of all deals ever completed, InsurTechs from 18 APAC countries have raised $7.77 billion through 447 deals , which...
Suitors raises concerns over bidding process as Reliance Capital resolution enters final stage
Foreign bidders have expressed apprehension regarding the rules governing the cap on foreign holding and lock in period in an Indian Insurance entity As per the government guidelines, foreign players cannot hold more than 74 per cent in the Indian insurance venture....
HDFC Life elevates Suresh Badami as Deputy Managing Director
Mumbai: HDFC Life, the second largest private sector life insurers, at its board meeting, announced that it has elevated Suresh Badami to the role of deputy managing director with effective from October 21. Suresh has a rich and diverse experience of 27+ years in...
Bima Sugam to be game changer for insurance sector: IRDAI Chief
"So it's like a shopping mall. So you go and shop there. And as far as the KYC is concerned, the moment you enter the portal, type your Aadhaar number, the data will auto populate. The KYC will be done through your Aadhaar number which will be masked for security...
LIC plans to create a $22bn fund to pay bonus and dividend boosting its battered stock: Report
The transfer, if concluded, would boost LIC's net worth by about 18 times from its current value of about 105 billion rupees and top the net worth chart among insurers, including SBI Life and HDFC Life, both the officials said. New Delhi: State owned Life Insurance...
Govt nudges LIC to tweak product strategy for better investor return
The finance ministry in its performance review has been sensitising the LIC management about the steps that could be taken to better investor wealth and focus on non-participating products or term plans to improve profitability New Delhi: The government is nudging LIC...
No govt, LIC veto post privatization of IDBI Bank
The government earlier this month invited bids for the sale of a 60.72 percent stake in IDBI Bank, which is 45.48 percent owned by the government and 49.24 percent by the Life Insurance Corporation of India (LIC). The official said that post-privatization, the...
HDFC Life posts Rs 686 crore net income in September quarter
Vibha Padalkar,Managing Director and Chief Executive Officer of HDFC Life said, ''we can easily do away with 100-150 branches from the existing 383 (ours and around 200 of theirs). Some of our own branches will also be shuttered but there won't be any employee...