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LIC board gives in principle approval to acquire 14.9% stake In IDBI Bank
“The Bank has received a letter dated August 28, 2018 from LIC giving their in principle approval for subscription of the equity shares on preferential basis subject to their total exposure not exceeding 14.90 per cent of post issue capital of IDBI Bank at any point of time,” IDBI Bank said in a regulatory filing.
India to be one of world’s blockchain leaders by 2023: Survey
A blockchain is a distributed ledger technology that stores information across multiple systems securely to enable peer-to-peer transactions by creating a trustworthy source.Banks and other financial institutions are increasingly investing in blockchain technology as it cuts down their costs and makes their operations faster and more transparent.
IRDAI unveils pricing & procedures for long term motor policy
Insurers may price the Own Damage component of the long term package covers suitably, in line with their current approach for pricing. Given the immediate need to offer long term package covers, insurers may start issuing such policies effective 1st September, 2018 even while ensuring filing such products under the File and Use Guidelines before 15th September, 2018, said P J Joseph, member, IRDAI
LIC eyes to become a `Global Financial Conglomerate’’:Chairman Sharma
“This is my ultimate vision for LIC @75. A place where all kinds of people, with all kinds of needs and in all kinds of places , are served under just one roof, that of LIC of India and they need not go anywhere else, ever,’’ explained Sharma while having brainstorming session attended by the middle and senior functionaries of LIC
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