State-run fuel retailers struggle to find funds for expansion, says oil min he government on Monday asserted that the price hike in auto and cooking fuel was inevitable and refuted charges that the government raised fuel prices despite state-owned retailers posting profits last fiscal.
Author: Tarun Bansal Savingwala
SEBI, IRDA working on insurance IPOs
Life insurance majors like SBI Life Insurance, HDFC Standard Life, Reliance Life and ICICI Prudential may be able to launch initial public offers in the current fiscal itself as the insurance regulator IRDA and capital market regulator SEBI, fresh out of a turf war, have resumed the process for listing these companies. The necessary guidelines are under preparation.
RBI hikes short-term interest rates
The Reserve Bank of India raised key short-term policy rates by 25 basis points in an unscheduled announcement to tame doubled-digit inflation, but bankers said this won’t lead to any hike in interest rates for now.
Future Generali to launch health plus term life insurance plan
Following Insurance Regulatory Development Authority’s move to allow insurance companies to offer “Health plus Life” products, Future Generali India Life Insurance, the insurance joint venture between Future Group and Generali of Italy, is planning to launch a combo plan in the next two months.
Retirement Planning
Most of us detest receiving telemarketing calls —be it from a bank or a telecom company executive offering loan products or the latest tariff plan. Last week, it was my turn. The call centre executive, on the call, in his fast-forwarded styled speech went on to inform me about a new model for retirement planning and how he could offer me the best scheme in the industry.
Dhanalaxmi Bank in tie-up with HDFC MF
Private sector Dhanalaxmi Bank today said it has entered into an alliance with HDFC Mutual Fund for distributing the latter’s financial products through its branches across the country.
SBI, State Bank of Indore to merge
Clearing the deck for the merger of State Bank of India and its associate, State Bank of Indore, the Reserve Bank is understood to have approved the amalgamation proposal.
Bank Fixed deposit rates may rise soon
Over the past year one year fixed deposits have returning a mediocre 5 to 7 per cent compared to the 74 per cent that investing in equities would have earned you or the 25 per cent that you could have earned by investing in gold.
Policies valid despite withdrawal of agency licences: IRDA
Insurance regulator IRDA today sought to assure customers that their policies would remain valid despite the withdrawal of licences of over 4,200 corporate entities, including HDFC Bank, Indiabulls Insurance Advisors and Indian Overseas Bank.
IRDA to regulate telemarketing of insurance
The Insurance Regulatory and Development Authority (Irda) has now proposed to streamline the promotion of insurance products through distance sales channels, such as the telephone and the internet.