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The family of an <keyword id="20246468" type="General" weightage="20" keywordseo="Agniveer" source="keywords" meta.keywordsubtype="org" meta.entityname="Agniveer" meta.hostid="261" meta.entityid="Agniveer">Agniveer</keyword> from <keyword id="19897316" type="General" weightage="20" keywordseo="Maharashtra" source="keywords">Maharashtra</keyword> who died in the line of duty last year has said they have received an assistance of <keyword id="22254620" type="General" weightage="20" keywordseo="Rs-1-08-crore" source="keywords">Rs 1.08 crore</keyword> from the <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword>. The family's statement came after <keyword id="19953821" type="General" weightage="20" keywordseo="Defence-Minister" source="keywords">Defence Minister</keyword> <keyword id="19911645" type="General" weightage="20" keywordseo="Rajnath-Singh" source="keywords">Rajnath Singh</keyword> on Monday said an Agniveer who lays down his life in the line of duty gets a compensation of Rs 1 crore. Singh was speaking after Leader of Opposition in the Lok Sabha <keyword id="19895780" type="General" weightage="100" keywordseo="Rahul-Gandhi" source="keywords">Rahul Gandhi</keyword>, while referring to the Agnipath military recruitment scheme, claimed the government regards Agniveers as "use-and-throw labourers" and does not even give them the status of a "shaheed (martyr)". Agniveer <keyword id="22254636" type="General" weightage="20" keywordseo="akshay-gawate" source="keywords">Akshay Gawate</keyword>, native of Pimpalgaon Sarai in Maharashtra's Buldhana district, died in the line of duty in Siachen on October 21, 2023. Speaking to reporters here on Monday evening, his father Lakshman Gawate said that after Akshay Gawate's death, the family got "Rs 48 lakh as his insurance cover, Rs 50 lakh from the central government and Rs 10 lakh from the state government." He also demanded a government job for Akshay's sister. He was reply to a question by reporters on the compensation received after his son's death. The Agnipath scheme, announced on June 14, 2022, provides for the recruitment of youths between the age bracket of 17-and-half years and 21 for only four years, with a provision to retain 25 per cent of them for 15 more years. The government extended the upper age limit to 23 years later that year.

We got Rs 1.08 cr aide from govt: family of deceased Agniveer

<keyword id="20079495" type="General" weightage="100" keywordseo="HDFC-Life" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Life" meta.hostid="261" meta.entityid="HDFC Life">HDFC Life</keyword> released its Q1FY25 results today, witnessing a 31% year-on-year (YoY) growth in <keyword id="22418232" type="General" weightage="20" keywordseo="individual-APE" source="keywords">individual APE</keyword> (Annualized Premium Equivalent), while the total assets managed by the insurer crossed Rs 3 lakh crore. Notably, APE is a common indicator of sales undertaken in the life insurance industry and is the sum of regular annualized premiums from new businesses, along with 10% of the first single premium received within a specific period. The company's <keyword id="20019621" type="General" weightage="20" keywordseo="AUM" source="keywords">AUM</keyword> (asset under management) saw a 22% <keyword id="21782807" type="General" weightage="20" keywordseo="YoY-growth" source="keywords">YoY growth</keyword>, jumping from Rs 2,53,301 crore in Q1FY24 to Rs 3,10,244 crore in Q1FY25. HDFC Life also saw a 15% YoY increase in its <keyword id="20298212" type="General" weightage="20" keywordseo="profit-after-tax" source="keywords">profit after tax</keyword> (PAT), inching up from Rs 415 crore in Q1FY24 to Rs 478 crore during April-June 2025. The <keyword id="21440628" type="General" weightage="20" keywordseo="value-of-new-business" source="keywords">value of new business</keyword> (VNB), which is calculated as the present value of the future profits that the firm is expected to earn in the future, thanks to the business that the company earns during the current year, also grew 18% from Rs 6.1 billion in Q1FY24 to Rs 7.2 billion in Q1FY25. The insurer also declared a staggering bonus of Rs 3,722 crore to more than 22 lakh of its shareholders. As per its report, the company covered around 13.9 million lives in Q1 FY25 The company also managed to retain its number 1 ranking in the industry, in terms of overall <keyword id="22418233" type="General" weightage="20" keywordseo="sum-assured" source="keywords">sum assured</keyword>. In Q1FY25, the company's overall sum assured stood at Rs 3,365 billion, up from Rs 3,340 billion in Q1FY24. <h2>Increasing need for life insurance and retirement planning </h2>The scope of insurance penetration in India remains immense, given that India's insurable population is set to burgeon to around 1 billion by 2035, and at 85%, India's sum assured (SA) as a % of its GDP remains the lowest amongst its peers, which include Singapore (332%), Thailand (143%), US (251%). Moreover, India's retirement savings gap is only set to grow annually at 10% to touch $96 trillion by 2050. At 3% of the GDP, India's pension market remains largely under penetrated, as compared to 98.3% of GDP in <keyword id="19916592" type="General" weightage="20" keywordseo="usa" source="keywords">USA</keyword> and 146.2% of the GDP in Australia.

HDFC Life Q1 results: Profit after tax surges to Rs 478 crore, AUM crosses Rs 3 lakh crore

Each year, the Indian Union Budget holds the nation's economic pulse. In 2024, the focus was razor-sharp: catalysing the <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword> and bridging the ever-widening skill gap, as the <keyword id="19916979" type="General" weightage="20" keywordseo="unemployment" source="keywords">unemployment</keyword> figures kept upward trajectory and dissatisfaction over government’s measures grew among the younger demographic. As a response, <keyword id="19955368" type="General" weightage="20" keywordseo="budget-2024" source="keywords">budget 2024</keyword> unveiled a meticulously crafted strategy, a multi-pronged attack to empower India's youth. The Union Budget 2024-2025 intends on focussing on youth and <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">employment</keyword>, prompting Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> to allocate Rs. 1.48 lakh crore for <keyword id="19907717" type="General" weightage="20" keywordseo="education" source="keywords">education</keyword>, employment and <keyword id="20374219" type="General" weightage="20" keywordseo="skilling" source="keywords">skilling</keyword>. Further, Modi 3.0’S budget includes 5 schemes to provide opportunities to 4.1 crore youth with a central outlay of Rs. 2 lakh crore over a period of the 5 years. <div type="Article" hostid="261" msid="111944393" title="Here&amp;#39;s a quick overview of PM Modi 3.0 government&amp;#39;s first budget, to be presented by FM Nirmala Sitharaman today" mstype="2" mssubtype="0"></div><h2>Nirmala Sitharaman announces 3 schemes for employment linked incentives:</h2><ul><li>Scheme A (First-timers): This will benefit first-time employees, providing one month’s wages to new entrants in all formal sectors. As per Sitharaman, Direct Benefit Transfer of one month salary in 3 instalments to first-time employees as registered in the EPFO will be up to ₹15,000. The eligibility limit will be a salary of ₹1 lakh per month. The scheme will benefit 210 lakh youth.</li><li>Scheme B (Job creation in manufacturing): This will provide incentives to both employees and employers for the first 4 years of employment under EPFO guidelines. It is expected to benefit 30 lakh youth and will cover additional employment across all sectors.</li><li>Scheme C (Support to employers): This will support employees with additional employment in all sectors by reimbursing employers up to ₹3,000 per month for two years for each additional employee's EPFO contributions. The scheme aims to incentivise the employment of 50 lakh additional people.</li></ul><h2>Improving participation of women in workforce</h2>As a part of Budget 2024-2025, Nirmala Sithraman announced that Modi 3.0 will focus on improving women participation in the workforce. The Government will focus on increasing women participation in the workforce. Some measures that will be taken include setting up hostels and creating partnerships to organise women-specific skilling programs and women self-help groups. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25 key highlights: Standard deduction to increase to Rs 75,000 from Rs 50,000 under new tax regime" mstype="2" mssubtype="0"></div> <h2>Additional incentives for employment </h2>Sitharaman announced the launch of a scheme where 500 top companies will provide internship opportunities to one crore youth in five years. Internship allowance of Rs. 5000 per month along with one-time assistance of Rs. 6000 to be provided, the Finance Minister also said that the companies will be expected to earn the training cost and 10% of the internship cost from their CSR funds. According to Mr. Ramesh Alluri Reddy, CEO at TeamLease Degree Apprenticeship, this “significant investment in skill development programs and the incentivization of industries to adopt comprehensive apprenticeships lays a solid foundation for a future-ready workforce. Integrating on-the-job training (OJT) as a mandated component of degrees, in collaboration with industry partners, allows students to gain invaluable practical experience, even if the training is not necessarily on-site.” “This initiative is a welcome move towards formal job creation, bridging the gap between theoretical education and real-world application, making graduates more job-ready.” <h2>Focus on skilling</h2>The Finance Minister said that the model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh. Further, a new scheme focussing on skilling will benefit 20 lakh individuals and ensure the set up of 1,000 training institutes and newly designed courses. <h2>Education loans</h2>The Union Budget 2024-25 proposes a revision of the Model Skill Loan Scheme to help 25,000 students every year. E-vouchers for loans up to Rs. 10 lakh for higher education in domestic institutions will be given directly to 1 lakh students every year with interest subvention of 3% of loan amount, said FM Sitharaman. Meanwhile, in the Interim Budget detailed in February 2024, Finance Minister Nirmala Sitharaman highlighted a notable increase in higher educational institutes and women enrolling in STEM courses over the past decade, attributing these improvements to the National Education Policy (NEP) 2020. Further, contrary to expectations, funding for the University Grants Commission (UGC) was reduced by 60.99%, dropping to Rs. 2,500 crore from the previous year's revised estimate of Rs. 6,409 crore. Meanwhile, grants for central universities were increased by over Rs 4,000 crore, with a total allocation of Rs 15,928 crore for the financial year 2024-25. <div type="Article" hostid="261" msid="111951205" title="Budget 2024-25 – Changes to tax slabs, increased standard deduction and other changes to direct taxation" mstype="2" mssubtype="0"></div> SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" data-type="tilCustomLink" target="_blank">Budget 2024 Live Updates: FM Sitharaman announces comprehensive review of the Income Tax Act 1961</a> <a href="https://www.businessinsider.in/budget/news/govt-to-provide-11-11-lakh-crore-towards-capex-for-2024-25/articleshow/111950700.cms" data-type="tilCustomLink" target="_blank">Govt to provide ₹11.11 lakh crore towards capex for 2024-25</a>

Budget 2024: Record allocation of Rs 1.48 lakh crore for education, employment and skilling!

<ul><li>Usually, the higher coverage policies such ones for ₹1 crore do not have any sub-limit. </li><li>A ₹1 crore cover protects you from any kind of eventuality, and gives you peace of mind. </li><li>Moving from a ₹10 lakh cover to ₹1 crore does not bring 10X the cost to the consumer – it only costs 25-30% extra. </li></ul>In the last few years, an assured sum of ₹5 to ₹10 lakh in <keyword id="6362363" type="General" weightage="20" keywordseo="health-insurance" source="Orion">health insurance</keyword> is often not enough for a family of three to four members. The main reason for this is India’s high medical inflation – which stands at 14%, as per a Motilal Oswal Financial Services report. Also, during Covid, when more than one family member fell ill at the same time, and had to be hospitalised, it was found that a family floater health insurance of ₹10 lakh was insufficient. What is the right quantum of health insurance cover that one requires? Also, in recent times, health insurance companies have been offering ₹1 crore covers at a reasonable premium. Do you need one? <cmsannotation type="cmsannotation" annotationid="Types of ₹1 crore covers available" comment="subhead" text="Types of ₹1 crore covers available">Types of ₹1 crore covers available</cmsannotation> It is important to understand the types of ₹1 crore <keyword id="807521" type="General" weightage="20" keywordseo="sum-assured" source="Orion">sum assured</keyword> health insurance products available in the market. Such products in the market are available as combinations of base ₹10 lakh plus ₹90 lakh super top-up coverage, or a ground up ₹1 crore product. Super top-up health insurance works by providing additional coverage when the medical expenses exceed the threshold limit set in the primary health insurance policy, offering an extra layer of financial protection for the policyholder. The super top-up kicks in only when the base cover is exhausted. “A lot of insurance companies have now launched covers which are a combination of a base policy of ₹10 lakh and ₹90 lakh super top-up. So, essentially, the customer is getting a coverage of ₹1 crore. And since it is from the same insurance company, a customer can also get cashless treatment, and can have a completely hassle-free claim settlement,” says Siddharth Singhal, business head-health insurance, Policybazaar.com, an insurance aggregator. Policies with a super top-up, are of course, slightly cheaper. There may be some terms and conditions differentiations when one opts for base plus super top-up combination. “One should be careful at the time of purchase for consistency in terms and conditions. There are options available in the market which are ground up ₹1 crore coverage and do not put any restrictions of room rent, 100% bill payment, and even provide day one coverage for buyers,” says Rupinderjit Singh, vice president - retail health, ACKO. The room rent limit in health insurance refers to the maximum amount that the insurance policy will cover for hospital room charges during a patient's stay. Usually, the higher coverage policies such as ₹1 crore do not have any sub-limit like room rent limit. “So, opting for such policies saves one from partial claim settlement,” says Rakesh Kaul, chief distribution officer, Zuno General Insurance. <cmsannotation type="cmsannotation" annotationid="Should you go for a ₹1 crore cover" comment="subhead" text="Should you go for a ₹1 crore cover">Should you go for a ₹1 crore cover</cmsannotation> There are few factors which decide the sum assured required for one's family like: number of family members, location of residence, quality of healthcare desired (whether top hospitals should be part of the hospital network). <keyword id="55251" type="General" weightage="20" keywordseo="cancer-treatment" source="Orion">Cancer treatment</keyword> in India can cost anywhere between ₹25-₹30 lakh or even higher. Many are often forced to sell off their assets to pay off such large medical bills. “At the time of claim, to settle such a large amount is almost impossible for a middle-class, or even an upper-middle-class family. A ₹1 crore cover protects you from any kind of eventuality and I would recommend anybody to look for it,” says Singhal. Floater plans, which cover the family members under a single sum insured are also very popular. “One should consider a ₹1 crore cover on a floater basis,” says Kaul. A health insurance contract is a long-term contract extending to 15-20 years. “India also witnesses high rates of lifestyle diseases. One can choose to have lower sum assured right now but once one gets a lifestyle disease in the future, insurance companies may not allow one to increase their sum assured to higher ones like ₹1 crore. A ₹1 crore sum assured safeguards a consumer and allows him to live worry free and not bother about their health cover at all,” says Singh. He says that, essentially, a family of four, with the eldest member being above 35 years of age should go for a higher cover between ₹25 lakh-₹1 crore. <cmsannotation type="cmsannotation" annotationid="How much does a ₹1 crore cover cost" comment="subhead" text="How much does a ₹1 crore cover cost">How much does a ₹1 crore cover cost</cmsannotation> One may feel that the cost of a ₹1 crore cover would be much higher than a ₹10 lakh cover. However, that is not the case. “Moving from ₹10 lakh cover to ₹1 crore does not bring 10x the cost to the consumers. It is only 25-30% extra cost,” says Singh. <cmsannotation type="cmsannotation" annotationid="Premiums for health insurance policies with ₹1 crore sum assured" comment="subhead" text="Premiums for health insurance policies with ₹1 crore sum assured"><keyword id="11929654" type="General" weightage="20" keywordseo="premiums" source="Orion">Premiums</keyword> for health insurance policies with ₹1 crore sum assured</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Policy Name </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annual Premium (₹)* </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Star Comprehensive </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Star Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">23,106 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Activ Fit Plus </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Capital Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17,058 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Health Guard- Platinum </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Allianz </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">23,245 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prime Advantage </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manipal Cigna Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">21,004 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Health Gain </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance General Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18,511 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Care Advantage </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Care Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,159 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Max Saver 2.0 </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Niva Health Insurance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11,733 </td></tr></tbody></table> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="3" style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">* Self cover for a 30-year old. Source: Policybazaar.com. </td></tr></tbody></table> To sum up, a ₹1 crore health cover may cost you a few thousand rupees extra, but it’s sure to bring you peace of mind in case of any health eventuality.

Moving from a ₹10 lakh to a ₹1 crore health insurance cover is not as expensive as you think

New Delhi: Online food delivery platform <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="83" meta.entityid="Zomato">Zomato</keyword> will acquire <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="83" meta.entityid="Paytm">Paytm</keyword>'s entertainment <keyword id="20028334" type="General" weightage="20" keywordseo="ticketing" source="keywords">ticketing</keyword> business for Rs 2,048 crore to strengthen its "going-out" segment in a deal that will help the troubled fintech firm to sharpen its focus on core payments and financial services distribution. Paytm's entertainment ticketing business covers movies, sports, and events (live performances). The boards of Zomato and One 97 Communications Ltd (OCL) have approved the all-cash deal. As part of this agreement, OCL's entertainment ticketing business will transfer business to its 100 per cent subsidiaries Orbgen Technologies Pvt Ltd (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL), followed by the sale of 100 per cent stake in these subsidiaries (which operate the TicketNew and Insider platforms) to Zomato. Subsequently, Zomato will spin off the new business into a new app called 'District'. Under the deal, Zomato will fully acquire Orbgen Technologies Pvt Ltd (OTPL), which is into movie ticketing, for Rs 1,264.6 crore and buy Wasteland Entertainment Pvt Ltd, which is into events ticketing for Rs 783.8 crore. The combined entertainment ticketing business has a scale of Rs 297 crore in revenue and Rs 29 crore in adjusted EBITDA in FY24. "The transfer will also include around 280 existing employees from the entertainment ticketing business," OCL said in a statement, adding that the transaction generates significant profits for Paytm and cash proceeds will further strengthen the balance sheet. Announcing the deal, Paytm said it allows the fintech to strengthen its focus on core payments and financial services distribution. Paytm said with its strong focus on long-term value creation, the company remains confident in substituting revenue from its entertainment ticketing business by expanding core business areas of payments and financial service distribution. "This move allows us to continue focusing on long-term growth in our core areas and value creation for all stakeholders," a Paytm spokesperson said. On the other hand, Zomato Managing Director and CEO <keyword id="19901325" type="General" weightage="20" keywordseo="deepinder-goyal" source="keywords">Deepinder Goyal</keyword> in a letter to shareholders said, "The proposed acquisition helps us add more scale and offer newer use-cases (like movie and sports ticketing) to our customers in this segment". Zomato believes the deal makes it more relevant to its customers and gives an opportunity to spin off the business into a new app. "We are going to call it District, which could be a game changer for each of these use cases given the need for a single brand as a destination in this segment," Goyal added. Zomato is keen to position 'District' as the brand that consumers turn to when they are thinking of going out, he added. OTPL was incorporated on November 23, 2007, in India. It is in the business of listing and sale of movie tickets and other services. It had a turnover of Rs 13.14 crore in the fiscal ended March 31, 2024. WEPL was incorporated on December 21, 2015. It is in the business of listing and sale of event tickets and other services. Its turnover in the FY24 was Rs 236.03 crore. Paytm said the move to sell its entertainment ticketing business underscores its core focus on payments and financial services distribution. "In recent quarters, the company has also expanded its offerings in insurance, equity broking, and wealth distribution, with a significant opportunity to cross-sell these services and grow its market presence as a leading financial services distribution player," Paytm said. During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners. Paytm said the deal underscores its success in building businesses and creating value for shareholders. Zomato's Goyal said the District app is expected to be launched anytime in the next few weeks. Post this acquisition, he said Zomato's going-out business would be spread across multiple different platforms. Its existing going-out business (dining-out + event ticketing) would continue to run on the Zomato app, and the acquired business -- movie, sports and event ticketing -- would continue to run on Paytm's main app for a transition period of up to 12 months, along with Insider and TicketNew apps. Both of these would get transferred to Zomato as part of the transaction. District app will duplicate the offerings above and over time, we will gradually nudge our customers to move from the Zomato, Paytm, Insider, and TicketNew apps to the District app. "Once most customers start transacting on the District app, we will remove the duplication and shut down this business on all the other apps. Eventually, there will just be a button to launch the District app on the Zomato app (like it is for Blinkit today) so that we continue to tap into the large customer base of Zomato," he added.

Zomato to acquire Paytm's entertainment ticketing business for Rs 2,048 crore

In a significant move, the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="100" keywordseo="rbi" source="keywords">RBI</keyword>) has imposed penalties on <keyword id="19952948" type="General" weightage="20" keywordseo="axis-bank" source="keywords">Axis Bank</keyword> and <keyword id="19895995" type="General" weightage="20" keywordseo="hdfc-bank" source="keywords">HDFC Bank</keyword> for lapses in regulatory and statutory compliance. The fines, which amount to a total of ₹2.91 crore, highlight the central bank's ongoing efforts to ensure that financial institutions adhere to prescribed guidelines. The RBI levied a penalty of ₹1.91 crore on Axis Bank for violations that included contraventions of the <keyword id="19976511" type="General" weightage="20" keywordseo="banking-regulation-act" source="keywords">Banking Regulation Act</keyword> and non-compliance with specific RBI directions related to interest rates on deposits, Know Your Customer (KYC) norms, and collateral-free loans for agriculture. Meanwhile, HDFC Bank faced a ₹1 crore fine for failing to comply with directions concerning interest rates, customer service practices, and the use of recovery agents. <h2>Axis Bank: Key regulatory failures</h2>Axis Bank’s penalty stems from a supervisory evaluation conducted by the RBI based on its financial position as of March 31, 2023. Upon reviewing the bank’s activities, the RBI found several areas of non-compliance. One of the primary issues was the opening of savings deposit accounts in the names of ineligible entities, a direct violation of regulatory norms. Additionally, Axis Bank was found to have issued multiple customer identification codes to certain clients instead of assigning a Unique Customer Identification Code (UCIC), which is mandatory to avoid duplication and ensure proper monitoring of accounts. The bank also violated guidelines concerning agricultural loans. RBI regulations prohibit banks from asking for collateral for agricultural loans up to ₹1.60 lakh, but Axis Bank had obtained such collateral in certain cases. Lastly, a wholly-owned subsidiary of Axis Bank was found to be engaged in providing technology services—an activity that is not permissible for a banking company. This contravention added to the overall penalty levied by the central bank. <h2>HDFC Bank: Regulatory shortcomings</h2> In the case of HDFC Bank, the RBI’s investigation was based on its financial position as of March 31, 2022. The central bank uncovered several violations, including the offering of gifts, specifically covering the first-year premium for complimentary life insurance, which exceeded the permissible limit of ₹250. Moreover, HDFC Bank was found to have opened savings accounts in the names of ineligible entities, a violation similar to that of Axis Bank. Another significant failure was the bank’s inability to ensure that customers were not contacted by bank officials outside the permitted time frame of 7 am to 7 pm. <h2>RBI's Stance on Compliance</h2> While the RBI has been stringent in penalising both banks, it clarified that these penalties are based on lapses in regulatory compliance and are not reflective of the validity of any transactions or agreements between the banks and their customers. The central bank’s message is clear—financial institutions must adhere strictly to guidelines to maintain transparency, protect customers, and uphold the integrity of the banking system. The penalties serve as a reminder to all banks to stay vigilant and maintain high standards of compliance to avoid such financial and reputational damage in the future. Both Axis Bank and HDFC Bank have accepted the fines and are expected to take corrective actions to avoid future infractions. For customers, this action from the RBI is a reassurance that regulatory oversight remains a priority to ensure fair banking practices across the country.

RBI slaps fine of Rs 2.91 crore on Axis Bank and HDFC Bank: All details

The <keyword id="19987636" type="General" weightage="20" keywordseo="Bihar-government" source="keywords">Bihar government</keyword> is making serious efforts to give a fillip to <keyword id="23049947" type="General" weightage="20" keywordseo="small-scale-and-medium-enterprises" source="Orion">small-scale and medium enterprises</keyword> which would play a crucial role in the overall <keyword id="352701" type="General" weightage="20" keywordseo="economic-development" source="Orion">economic development</keyword> of the state, a top official of the Industries department said. Around Rs 2,900 crore have been disbursed to nearly 74,540 beneficiaries under two schemes, one of which was launched only last year, for promoting Micro, Small and Medium Enterprises ( <keyword id="19910977" type="General" weightage="100" keywordseo="MSMEs" source="keywords">MSMEs</keyword>) in the state, the official said. <keyword id="19903647" type="General" weightage="20" keywordseo="bihar" source="keywords">Bihar</keyword> has a strong MSME base. To promote innovation ecosystem and unlock the enormous entrepreneurial potential of the state, the Mukhya Mantri Udyami Yojana (MMUY) and <keyword id="23049946" type="General" weightage="20" keywordseo="Bihar-Laghu-Udyami-Yojana" source="keywords">Bihar Laghu Udyami Yojana</keyword> (BLUY) were launched in 2018 and 2023 respectively focusing on promotion of MSMEs in the state. "A total of Rs 2,697 crore was disbursed to 34,441 beneficiaries from 2018 till now under MMUY. Similarly, till date Rs 200 crore of the first instalment has been disbursed to 40,099 beneficiaries under BLUY", Secretary, Department of Industries, Bandana Preyashi told PTI. On the one hand, Bihar is getting big ticket investments for major manufacturing units and on the other hand, the state government is also enabling an ecosystem where the MSMEs can thrive on the ground level for the benefit of the rural economy, Preyashi said. The Bihar Laghu Udyami Yojana aims to provide job opportunities to at least one member of poor families whose monthly income is less than Rs 6,000 a month, she said. The state government is providing Rs 2 lakh to each beneficiary in three instalments to set up and run micro and small industrial and processing units, Preyashi said. The government's objective is promotion of MSMEs through awareness, training and handholding support, the Industries secretary said. The state government is encouraging entrepreneurs and investors through the provision of a safe and sound work environment and basic infrastructural facilities which include land, roads, electricity, and water availability, she said. The Industries secretary further said, "With new policies of the state government, Bihar is witnessing significant investment promotion activities, reinforcing its position as an emerging business and industrial hub in the country. During the Bihar Business Connect 2023, 278 companies signed MoUs, committing to investments totalling Rs 50,530 crore." the secretary said. The state government has implemented the Bihar Industrial Investment Promotion Policy (BIPP), Bihar Logistics Policy 2023, Ethanol Production Incentive Policy 2021 and Textile and Leather Policy 2022 to promote industrial growth and investment in the state. "Under these policies, stage-1 clearance was given to 481 applications, with a proposed investment amount of Rs 4,512.85 crore. A total of 175 units were given clearance for financial incentives with an investment of Rs 2,195.10 crore, an all-time high, since the inception of the state investment promotion policies," she said. In 2023-24, 255 startups were recognized in the state and a total of Rs 11.92 crore has been disbursed as seed funding to these startups. From April 2023 to January 2024, Bihar Industrial Area Development Authority (BIADA) allotted plots/sheds to 427 units having a total investment size of Rs 6,145 crore covering 492 acres of land and also creating 35,224 employment in the state, said the secretary. "Infrastructure development in industrial areas was given top priority. Funds of Rs 409.33 crore were approved under Part I and Rs 212.68 crore for construction of unity mall under special assistance to states in 2023-24. In the current financial year of 2024-25,149 units have been granted stage I clearance for a proposed investment amount in Rs 3,950.48 crore in Bihar State Investment Promotion Board", she said. At present, Bihar's proposal to establish a multi-sector Special Economic Zone (SEZ) in Nawanagar and Kumarbagh has been approved by the Government of India. "Authorities concerned are also working on the establishment of Export Promotion Councils (EPCs) in Bihar that will help Bihari Exporters to expand their businesses to international markets", said the secretary. Bihar Chief Minister <keyword id="19907431" type="General" weightage="20" keywordseo="nitish-kumar" source="keywords">Nitish Kumar</keyword> on August 3 this year laid the foundation stone for Rs 1,600 crore cement grinding unit of Ambuja Concrete North Private Limited, a subsidiary of Adani group's Ambuja Cements, in Warisaliganj block in Nawada district. This is considered the largest investment in the state by a cement industry player. "The project is expected to create 250 direct jobs and 1,000 indirect jobs on the site. The project will meet the growing infrastructure needs of Bihar. Adani Group has decided to invest additional Rs 5,500 crore in Bihar in various sectors, including cement manufacturing (in Muzaffarpur), logistics (near Patna) and projects related to agro-industry in Araria, Kishanganj and Begusarai. A total of 40,000 employment will be generated by these investments", said the statement issued by the CMO after the conclusion of the event on August 4.

Bihar government disburses Rs 2,900 crore to 74,540 beneficiaries for promoting MSMEs: Official

<keyword id="19960762" type="General" weightage="20" keywordseo="SBI-Life-Insurance" source="keywords" meta.keywordsubtype="org" meta.entityname="SBI Life Insurance" meta.hostid="83" meta.entityid="SBI Life Insurance">SBI Life Insurance</keyword> on Friday reported 4 per cent rise in <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> at Rs 811 crore for the fourth quarter ended March 2024 as value of new business grew modestly. The life insurer had posted a net profit of Rs 777 crore in the year-ago quarter. <keyword id="20840570" type="General" weightage="20" keywordseo="total-income" source="keywords">Total income</keyword> during January-March FY24 rose to Rs 37,567 crore from Rs 22,805 crore in the same period of FY23, <keyword id="19906098" type="General" weightage="20" keywordseo="sbi-life" source="keywords">SBI Life</keyword> said in a regulatory filing. Net premium income in Q4FY24 stood at Rs 25,116 crore as against Rs 19,897 crore in the year-ago period. For the full year 2023-24, the company's net profit grew 10 per cent to Rs 1,890 crore from Rs 1,720 crore in the previous year. Total income during the year rose to Rs 1,32,631 crore from Rs 81,598 crore a year ago. SBI Life said it registered a growth of 9 per cent in the value of new business (VoNB) to Rs 5,550 crore in FY24. VoNB is the present value of expected future earnings from new policies written during a specified period. It reflects the additional value expected to be generated through the writing of new policies during a specified period. Assets under management (AUM) grew 27 per cent to Rs 3.8 lakh crore as of March 31, 2024, it said. Solvency ratio declined to 196 per cent from 215 per cent in the previous fiscal. Solvency margin represents the additional capital that an insurer must maintain to cover potential claims beyond their expected liabilities. This serves as a financial safety net, ensuring their ability to settle all claims even in the most challenging circumstances. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

SBI Life Q4 profit rises 4% to ₹811 crore

The government has officially announced October 1, 2024, as the starting date for <keyword id="23245808" type="General" weightage="100" keywordseo="Vivad-Se-Vishwas-2-0" source="keywords">Vivad Se Vishwas 2.0</keyword>, the direct tax dispute resolution scheme. If you're involved in a tax dispute, this scheme might be your chance to resolve it efficiently. Originally introduced during the 2024-25 Union Budget, the scheme is designed to handle <keyword id="22518437" type="General" weightage="20" keywordseo="income-tax-disputes" source="keywords">income tax disputes</keyword> that are currently tied up in appeals. Confirming the news, the <keyword id="19900485" type="General" weightage="20" keywordseo="Finance-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Finance Ministry" meta.hostid="261" meta.entityid="Finance Ministry">finance ministry</keyword> said in its notification: "The central government hereby appoints the 1st day of October, 2024 as the date on which the Direct Tax Vivad Se Vishwas Scheme, 2024 shall come into force." <h2>The scope of the disputes</h2>To give you an idea of the scale, about 2.7 crore direct tax demands are currently being contested, amounting to a staggering Rs 35 lakh crore. These disputes are scattered across various legal forums, and Vivad Se Vishwas 2.0 aims to help clear this backlog. <div type="Article" hostid="261" msid="113444994" title="In the long run, rate cut by Fed will be favourable for most US banks: Moody&amp;#39;s" mstype="2" mssubtype="0"></div>In her Budget speech, <keyword id="19912360" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="keywords">Finance Minister Nirmala Sitharaman</keyword> highlighted the government’s dedication to simplifying taxes and minimising litigation. She said, "The government will continue its efforts to simplify taxes, improve <keyword id="20404572" type="General" weightage="20" keywordseo="taxpayer-services" source="keywords">taxpayer services</keyword>, provide tax certainty and reduce litigation while enhancing revenues." <h2>Who can avail the scheme?</h2>If you have any pending disputes or appeals, including writs and special leave petitions, whether filed by you or the tax authorities, as of July 22, 2024, you are eligible to take advantage of this scheme. The list of eligible cases includes those pending before the Supreme Court, high courts, Income Tax Appellate Tribunal, and Commissioner/Joint Commissioner (Appeals). It also covers cases before the Dispute Resolution Panel (DRP) and revision petitions awaiting a decision from the Commissioner of Income Tax. <div type="Article" hostid="261" msid="113417255" title="Individuals earning over Rs 10 cr rise by 63% in India; financial assets of high net worth individuals to nearly double by 2028" mstype="2" mssubtype="0"></div>However, the window to decide whether or not to participate in the scheme is limited. As Karishma R. Phatarphekar, Partner at <keyword id="20006170" type="General" weightage="20" keywordseo="Deloitte-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Deloitte India" meta.hostid="261" meta.entityid="Deloitte India">Deloitte India</keyword>, said: "Given the limited time window, an informed decision on opting for the scheme should be made promptly." The rules and forms for the scheme are expected to be published "imminently in the coming week." <h2>Success of the original Vivad Se Vishwas</h2>For those who are wondering about the potential impact, the first Vivad Se Vishwas scheme, introduced in 2020, resolved a significant number of cases. More than 1 lakh taxpayers participated, and the government collected about Rs 75,000 crore in taxes. With this track record, the expectations from Vivad Se Vishwas 2.0 are high. With October 1 just around the corner, now is the time to prepare if you are considering resolving your tax dispute through Vivad Se Vishwas 2.0. As the rules and forms are expected shortly, it’s wise to consult your <keyword id="23245810" type="General" weightage="20" keywordseo="tax-advisor" source="keywords">tax advisor</keyword> and make a decision soon. This scheme could provide the relief you’ve been waiting for while contributing to a more efficient tax system for all. (With inputs from PTI)

New Vivad Se Vishwas 2.0 tax resolution scheme to start on Oct 1 — what you need to know

New Delhi, The <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">digital</keyword> media will potentially overtake television as the leading segment in the <keyword id="20331450" type="General" weightage="20" keywordseo="media-entertainment" source="keywords">media &amp; entertainment</keyword> sector in 2024 with an estimated size of Rs 75,100 crore, said a joint report from industry body FICCI (Federation of Indian Chambers of Commerce and Industry) and EY on Tuesday. While the Indian Media &amp; Entertainment (M&amp;E) sector grew by 8.1 per cent in 2023, reaching Rs 2.32 lakh crore and is expected to touch Rs 2.55 lakh crore and cross Rs 3 lakh crore mark by 2026, it added. "We expect the M&amp;E sector to grow 10.2 per cent to reach Rs 2.55 trillion by 2024, then grow at a CAGR (Compound Annual Growth Rate) of 10 per cent to reach Rs 3.08 trillion by 2026," the report said. Though in 2023 television remained the largest segment with Rs 69,600 crore, however, it had a degrowth of 1.83 per cent as against Rs 70,900 crore in 2022, it said. While, the digital media in 2023 crossed Rs 65,400 crore and is expected to be around Rs 75,100 crore in 2024, which is ahead of Rs 71,800 crore figure of the television media. The report estimates digital media would be around Rs 95,500 crore in 2026, with a CAGR growth of 13.5 per cent between 2023-26. While TV media would be Rs 76,600 crore, which would be around 20 per cent less than digital media. "In 2024, digital media is poised for explosive growth, potentially overtaking television to become the leading segment of the M&amp;E sector. This surge in digital media is forecasted to propel the M&amp;E sector's growth to a 10 per cent annual rate, crossing Rs 3 trillion (USD 37.1 billion) by 2026," said <keyword id="20331445" type="General" weightage="20" keywordseo="kevin-vaz" source="keywords">Kevin Vaz</keyword> Chairman, <keyword id="20835181" type="General" weightage="20" keywordseo="ficci-media-and-entertainment-committee" source="keywords">FICCI Media and Entertainment Committee</keyword>. This growth is buoyed by a robust digital infrastructure, widespread adoption of OTT platforms, significant growth in the gaming segment, and the availability of cost-effective options for consumers. The report expects digital advertising to grow at a 13.5 per cent CAGR to reach Rs 84,200 crore, on the back of improved governance. According to the report, the connected TV (smart TV) saw a 50 per cent growth as internet penetration continues to rise. "The broadband market is growing with subscription numbers recording 904 million. It is inevitable that smartphone users have grown and consequently, the average usage time continues to rise," it said. However, it also added despite high app downloads of 26.4 billion, India was behind in monetising this potential, with users spending half their time on social media apps. "The year also saw the growth of digital ad spending by 15 per cent, predominantly in search and social media. By 2026, the digital segment is expected to grow to Rs 95,000 crore with an increased focus on governance," it said. The Media &amp; Entertainment sector (M&amp;E) sector, which was around Rs 2.14 lakh crore has grown around Rs 17,300 crore in 2023, led by growth from Digital media, <keyword id="20004573" type="General" weightage="20" keywordseo="print" source="keywords">Print</keyword>, Online gaming, and Animation and VFX, the report said. "While the sector was 21 per cent above its pre-pandemic levels, television, print, and radio still lagged their 2019 levels," it said. The share of traditional media, which includes television, print, filmed entertainment, live events, OOH (Out-of-home), music, and radio stood at 57 per cent of M&amp;E sector revenues in 2023, down from 76 per cent in 2019, it added. In 2023, TV advertising fell 6.5 per cent due to a slowdown in spending by gaming and D2C brands, which impacted revenues for premium properties. On the print media, the report said it has buckled the global trend and continued to thrive in India. "Advertising revenues grew 4 per cent in 2023, with a notable growth in premium ad formats, as print remained a "go-to" medium for more affluent and nonmetro audiences. Subscription revenues grew 3 per cent on the back of rising cover prices. Digital revenues were insignificant for most print companies," it said.

Media and entertainment industry to cross ₹3 lakh crore in 2026 says FICCI, EY report

<ul><li>India’s second largest telecom company Bharti <keyword id="15491" type="General" weightage="100" keywordseo="airtel" source="Orion">Airtel</keyword> reported a 91% year-on-year rise in its Q3 net profit to ₹1,588 crore.</li><li>This fell short of analyst estimates of a net profit of ₹2,673 crore.</li><li>Airtel reported a moderate uptick in its average revenue per user to ₹193 in Q3, sequentially. </li></ul>India’s second largest telecom company Bharti Airtel reported a 91% year-on-year (YoY) rise in its Q3 net profit to ₹1,588 crore, but still significantly lower than the average analyst<a href="https://economictimes.indiatimes.com/markets/stocks/earnings/airtel-q3-preview-revenue-likely-to-be-slowest-in-6-qtrs-view-on-tariff-hikes-crucial/articleshow/97661612.cms"> estimates</a> of ₹2,673 crore. On a sequential basis, however, the telco reported a 26% decline in its net profit. Airtel’s revenue came in slightly higher than analyst estimates of ₹35,299 crore during the quarter. The telco reported a 20% YoY growth in its revenue to ₹35,804 crore, beating analyst estimates by a thin margin. On a sequential basis, the topline growth stood at 3.7%, largely driven by 4G subscriber additions and an uptick in average revenue per user (ARPU). Airtel’s net profit missed analyst expectations despite only a mild uptick in its spectrum usage charges (SUC), which grew only 4% YoY to ₹2,842 crore. The overall expenses grew at 14% on average during the quarter. The telco managed to report a moderate uptick in its average revenue per user to ₹193 during the December quarter, thanks to an increase in its 4G subscriber base, which increased to 216.7 million from 210.3 million. Overall, its 4G subscribers as a percentage of total subscribers stood at 59% in Q3, slightly up from 58% in the same period a year ago. “Our strategy of winning quality customers has helped us add 6.4 million 4G customers and exit the quarter with an industry leading ARPU of ₹193,” said Gopal Vittal, managing director, Bharti Airtel. Also aiding Airtel’s ARPU growth in the December quarter was a 22.5% YoY increase in data consumption to 20.8GB per user per month. In terms of margins, too, Airtel reported a moderate uptick during the December quarter. The telco’s earnings before interest, taxes, depreciation and amortization (EBITDA) margins rose to 52.7% in Q3, from 49.7% a year ago. “Postpaid, enterprise, homes as well as our Africa business sustained their momentum while the DTH business showed signs of growth in an industry that continues to be under pressure,” Vittal added. Bharti Airtel’s Q3 in numbers: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY23 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY23 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY22 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹35,804 crore </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹34,527 crore </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹29,867 crore </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,588 crore </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,145 crore </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹830 crore </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ARPU </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹193 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹190 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹163 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribers (India) </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">369 million </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">364 million </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">354 million </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: Company reports Airtel’s India subscriber base grew by 5 million sequentially in the December quarter, while its overall subscriber base stood at 510.8 million, up 9.3 million when compared to the previous quarter. <cmsannotation type="cmsannotation" annotationid="5G rollout on track to all towns by March 2024" comment="subhead" text="5G rollout on track to all towns by March 2024">5G rollout on track to all towns by March 2024</cmsannotation> Talking about the company’s 5G rollout strategy, Vittal said that the company intends to expand the coverage to all towns by the end of FY24. “Our 5G rollout is on track to cover all towns and key rural areas by March 2024,” Vittal said. Airtel’s 5G services are currently live in over 40 cities, the company said. Its rival Reliance Jio currently has 5G coverage in 236 cities around the country, nearly 6x as much as Airtel. <cmsannotation type="cmsannotation" annotationid="Simplified pricing, improved services drive digital TV biz" comment="subhead" text="Simplified pricing, improved services drive digital TV biz">Simplified pricing, improved services drive digital TV biz</cmsannotation> Airtel reported an addition of 2.14 lakh customers in its digital TV business, its best performance in the last eight quarters. The company credited this to its strategy of a simplified pricing structure and improved services. “This is a result of the company's strategy of simplified pricing and differentiated converged experience to win high value customers. Focus on high value channels and quality acquisitions has yielded customer gains leading to an overall base at 16 million at the end of the quarter,” Airtel said in an exchange filing. In its bid to simplify and diversify revenue streams at the same time, Airtel<a href="https://www.businessinsider.in/business/telecom/news/list-of-airtel-black-plans-with-price-and-benefits/articleshow/86990114.cms"> announced</a> simpler plans under its Airtel Black offering in Q3. This service unifies DTH, fibre and postpaid services in a single bill. Apart from this, improved digital offerings across services like — Thanks, Wynk and Xstream also helped the company grow its user base to 200 million monthly active users, the company said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/flagship-adani-enterprises-leads-rally-in-adani-group-shares-on-tuesday/articleshow/97682620.cms">Adani Enterprises leads rally as the group adds ₹46,079 crore in marketcap on Tuesday</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-transmission-reports-78-rise-in-q3-net-profit-to-475-crore-on-one-time-income/articleshow/97650165.cms">Adani Transmission reports 78% rise in Q3 net profit to ₹475 crore on one-time income</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-shares-hit-25-upper-circuit-after-govt-agrees-to-convert-16133-cr-dues-into-equity/articleshow/97643006.cms">Vodafone Idea shares hit 25% upper circuit after govt agrees to convert ₹16,133 cr dues into equity</a>

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