MTNL board okays plan to raise R3,000 cr
State-run telecom company MTNL’s board has approved the proposal to raise R3,000 crore through sovereign guarantee bonds. “The board of directors of the company at its meeting approved the proposal for raising non-convertible debentures (in the form of bonds) worth R3,000 crore for a period of 10 years guaranteed by the Government of India,” MTNL said in a filing to BSE.
SKS to raise R3,000 cr via securitisation
SKS Microfinance may raise further funds to the tune of R3,000 crore through securitisation and term loans in the next fiscal to meet its lending requirements. About one-third of that amount will be raised through securitisation and the remaining by term loans and other instruments, Dilli Raj, CFO, said. It has raised R981 crore through securitisation in the current fiscal and another R1,500 crore through various other means. SKS is all set to re-enter the Andhra Pradesh microfinance market after a gap of two years.
R-Life unveils new healthcare plan
Reliance Life Insurance Company, part of Reliance Capital, on Monday announced the launch of a new healthcare offering ‘Reliance Life Care for You Advantage Plan’. The plan is a family floater scheme that offers a comprehensive coverage for hospitalisation, surgeries and critical illnesses for the family in a single policy. A key feature of the policy is that it allows an insured person to pay a fixed premium for a three-year policy. “Health insurance penetration is as low as 5%, with over 85% of the 1.4 billion peole having no cover,” said Anup Rau, the chief executive officer of Reliance Life Insurance.
HDFC Ergo to focus on health, motor sectors
Private sector general insurer HDFC Ergo is planning to increase its focus on health and motor insurance segments to sustain its high growth, apart from weather segment, a top company official said. “As we are reaching the scale, there is scope for growth in motor business along with health segment. We will increase our focus on the weather segment,” said HDFC Ergo General Insurance Marketing and Strategic Planning head Mukesh Kumar.