Heads of three public sector insurers will be meeting senior officials of the finance ministry on Friday to discuss the roadmap for their merger.
Budget 2018: Finance minister Arun Jaitley, in his Budget speech on February 1, said that a merger of the three public sector general insurance companies into a single insurance entity, which will be listed, was on the cards.
Budget 2018: Currently, LTCG tax on debt funds is 20% with inflation indexation benefit, while equity holdings of more than one year did not attract LTCG tax. All LTCG gains on equities till January 31, 2018 have been grandfathered thus ensuring the 10% tax is well-balanced.
Budget 2018: Finance minister Arun Jaitley in his Budget speech said, “In addition to tax concessions, I propose to extend the PMVVY up to March, 2020 under which an assured return of 8% is given by Life Insurance Corporation of India (LIC).
The Infosys board had also announced buyback of shares worth Rs 13,000 crore on August 19, at a price of Rs 1,150 apiece.
Life Insurance Corporation of India (LIC) has turned down the proposal for an IPO for UTI Asset Management Company (AMC). As a result, the meeting that was to take place between the promoters of UTI last week has not been held as yet.
UTI Asset Management Company (AMC) will take one more shot at getting itself listed at a shareholders’ meeting in Mumbai on August 5.
Thanks to generous government subsidy of up to 8% of the sum assured, private general insurance companies have participated in the revamped crop insurance scheme, Pradhan Mantri Fasal Bima Yojana (PMFBY), with as much or even greater vigour than public-sector insurers.
The deal was announced in August last year and at that time we had envisaged a particular structure for the deal. We thought that the structure passes the muster of the Insurance Act, we had even taken legal opinions from various people and all of them thought it was okay.
Balanced funds are ideal for first-time investors as they are less volatile compared to diversified equity schemes
Insurance Regulatory and Development Authority of India (Irdai) has raised objections to the merger between HDFC Standard Life and Max Life Insurance.
Curiously enough for the internet age, Indian firms fear fire more than they do cyber crime!
Participants from the insurance industry believe both the companies could collectively raise Rs 8,000- Rs 10,000 crore from their IPOs.
Top fund houses continue to remain in a dominant position largely because of their brand value and strong performance of their equity schemes.
Insurance industry officials also believe that the 32% growth was largely due to the success of crop insurance.
Net inflows into equity funds for the financial year 2016-17 stood at Rs 94,421 crore, the highest in last ten years.
The RBI after the last policy, has clearly demonstrated that it would not compromise on price stability focus, as it does not prefer to sacrifice inflation for higher economic growth, says Dhawal Dalal, CIO-fixed income, Edelweiss AMC.
With foreign portfolio investors (FPI) buying close to $2 billion worth of equities in 2017 so far, the markets are hovering close to their lifetime highs, report Yoosef KP and Chirag Madia in Mumbai.
Life Insurance Corporation (LIC) continues to stall UTI AMC’s listing although three other PSU shareholders — State Bank of India (SBI), Punjab National Bank(PNB) and Bank of Baroda(BoB) — agreed to a broad-based listing two weeks ago.
Even as he tried to downplay differences between the Infosys board and the company’s founders, R Seshasayee, chairman of Infosys, on Monday asserted there had been no impropriety relating to the severance payout to former CFO Rajiv Bansal.
A broad agreement appears to have been reached on the issue of UTI Asset Management Company’s initial public offering and though the size of the issue has not been agreed on, the draft board resolution circulated to shareholders after the board meeting talks of a “broad-based” issue.
The Budget decision to halve personal income tax rate for the `2.5-5 lakh income slab to 5% comes as a big relief to taxpayers.
Continuing its focus on social security, the Union Budget announced an assured pension scheme for senior citizens.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved listing of five state-owned general insurance companies, thus paving the way for reducing the government’s stake in these insurers from 100% to 75%.
Irdai has granted certificates of registration to foreign re-insurers for opening their branches in India. Officials in the industry estimate that, foreign reinsurers might bring in capital of R2,000-R3,000 crore in India.
Friend-turned-foe of the Tatas, Nusli Wadia, on Thursday continued his tirade against the group while staying away from the extraordinary general meeting of Tata Motors convened to remove him as an independent director.
Long-time friend and ally of the Tatas, Nusli Wadia, stayed away from the extraordinary general meeting (EGM) of Tata Steel on Wednesday where shareholders voted on a resolution to remove him as independent director.