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“In this regard, we would like to inform you that as Max Life has decided not to pursue the current acquisition opportunity, the company (Max Financial) is no longer considering any of the fund raising opportunity referred in the previous disclosure,” Max Financial said in a regulatory filing.

Due to inflation concerns, some analysts had expected the RBI to switch its stance to “tighten” on Wednesday.Inflation worries have risen following a steep increase in global oil prices and a weakening rupee, plus a potential rise in consumer spending as India’s economy expanded at a robust 7.7 percent annual pace in January-March quarter.

PM Modi aims to initially provide three programs — old age pension, life insurance and maternity benefits, while leaving out unemployment, child support and other benefits — to most working citizens, government officials said,

Cost efficiency, high renewal premiums, better product mix and productivity and higher persistency helped the company record profits.

Key feature of this product is that if a screen damage happens, customers get this pre-decided amount i.e. flat 20 per cent  of the invoice value of the phone.