BUSINESS
Life insurers focus on guaranteed returns to customers amid uncertain times
The new plan empowers policyholders with financial returns, fulfills the need to secure their financial obligations and helps achieve goals like child's education or marriage, retirement, a holiday, retirement income or a supplementary income.
Delhi, Mumbai among top 5 Indian cities that captured 25% of smartphone market in October
However, the rest of the states (up-country markets) registered slower growth (average 25 per cent), primarily owing to looming economic concerns and consumer spending narrowing to essentials only, according to the International Data Corporation (IDC) India Monthly Smartphone Tracker.
Nand Kishore appointed Executive Director of IL&FS Board
Nand Kishore was so far serving on the IL&FS Board as Non-Executive Director. The Ministry of Corporate Affairs had earlier approved his appointment as the Executive Director. "Based on the recommendation of the Nomination & Remuneration Committee, the IL&FS Board in its meeting held on December 19, 2020, approved the appointment of Nand Kishore as Executive Director of the Company with effect from December 21, 2020," an IL&FS statement said.
Banks' Loans Write-off: BJP led-NDA scores three times over Congress led-UPA, says RTI
During the UPA's 10-year rule, around Rs 2,20,328 crore was written off by various banks, and this figure shot up to Rs 7,94,354 crore during the NDA regime from 2015-2019, resulting in a corresponding reduction in the banks' NPAs.
Canara Bank's exposure to Transstroy India is Rs 678.28 crore
In a statement, the Canara Bank said, "The bank clarifies that it has an exposure of Rs.678.28 crore in the account of Transstroy India Ltd, reported as fraud to RBI on February 10 this year where 100 per cent provision has been made in the account."
Govt to offer flexibility to discoms to end long term power contracts
The move is expected to provide flexibility to both procurers (mainly Discoms) and generators (power projects) to look for meaning contracts post expiry of a PPA, one where discoms can get the option to buy cheaper power available in the market while generators could look at new consumers either under long term contract or through price discovery on exchanges.
PHDCCI suggests strategy to attain higher growth in FY22
The industry body's 10 pronged strategy revolves around the measures aimed at refuelling consumption and demand, and encouraging the private investments. The elements of the strategy presented to the FM includes front loading of infrastructure investments, establishing DFIs to fund industrial and infrastructural investments, strengthening MSMEs, reducing the costs of doing business, ease of doing exports, increasing Tax to GDP ratio.
Indian aviation stocks up by 34-107% in last 3 months: Report
Accordingly, it pointed out that on a YoY basis, IndiGo is up by 29 per cent (outperforming Nifty by 16 per cent), while SpiceJet is up mere by 2 per cent YoY. According to the report, optimism over the vaccine could certainly result in increased flying confidence, leading to the quicker normalisation of operations versus earlier estimates.
Indian pharma companies to benefit from improving US demand: Report
As per the ratings agency, these companies have garnered 45 per cent of all new Abbreviated New Drug Application (ANDA) approvals over the past nine months.
Petrol, diesel prices hold for 12 days even as crude rises over $52/b
Petrol prices were very close to breaching the all time high level of Rs 84 a litre (reached on October 4, 2018) when it touched Rs 83.71 a litre on December 7. But the march has been halted ever since then with no price revision by the OMCs.
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