Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">LIC</keyword> has cut down its cost massively by outsourcing some of its work to the Indian postal department.</li><li>This is positive for the insurance giant as it has been losing market share over the last few years to private insurers, who are more tech savvy.</li><li>While LIC has taken several steps to digitize its services in recent times, it claims to have gained more than 3% market share between December and May.</li></ul>The country’s largest insurer – <keyword id="6368369" type="General" weightage="20" keywordseo="life-insurance-corporation-of-india" source="Orion">Life Insurance Corporation of India</keyword> – has 2,000 branches all over India. But it issues 25,000 policies every year and that means it spends a lot of time and energy shipping its policies everywhere. And, it also has found an innovative way to cut costs. Instead of printing all the <keyword id="525728" type="General" weightage="20" keywordseo="paperwork" source="Orion">paperwork</keyword> and delivering huge piles of policy documents to policyholders, it outsourced some of his work to the Indian postal department. “Three months ago, we started a post-to-print solution with the postal department. We give them an encrypted soft copy that is printed and dispatched. Otherwise, we used to print and send from our branches,” said Chairman MR Kumar in an interview to the <a href="https://economictimes.indiatimes.com/markets/expert-view/investors-will-get-good-mid-to-long-term-roi-mr-kumar/articleshow/92215873.cms">Economic Times</a>. Eliminating paperwork has helped it cut costs by a massive 40%. Since their customers are spread all over the country, allowing the postal department to dispatch them saves delivery costs and other overheads associated with paperwork. In a move to send documents to policyholders much faster in 2021, LIC had signed an agreement with the Department of Posts for 'Print to Post' services, wherein they print and dispatch the policy booklet issued under a life insurance policy. The tech savvy rivals The insurance giant has been losing market share to 24 private insurers over the last few years, who are more tech savvy, while it itself was mired in paperwork. It is finally ramping up its digital initiatives like its rivals. In fact, insurtechs who offer these services via platforms and also directly have been thronging the market and LIC too is upping its game in a rapidly changing market. LIC has about 65% market share in the life insurance business and claims to have gained more than 3% market share between December and May, according to the ET report. “We are going big on digital and will soon recruit a digital officer as a lateral entry. Our online marketing is going to be refurbished totally and more products are now available online. More than 50% of our transactions on the servicing side are coming from digital channels in terms of premium payments,” said Kumar. The insurer, like its peers, is also targeting a large untapped market – and expanding its presence in Tier 2 and Tier 3 towns. Kumar also addresses the fact that LIC’s stock has lost a quarter of its value since listing on May 17, which has disappointed about 7 crore investors who were allotted the shares. He asks investors to be patient and wait for the market to rebound. Due to its heavy investments, LIC’s stock performance <a href="https://www.businessinsider.in/stock-market/news/lic-stocks-if-you-want-to-predict-this-stock-prices-look-how-the-stock-market-moves/articleshow/92040939.cms">mimics the entire market</a>. “People should not be worried about immediate performance. The market is down for many other factors -- the war, global risk-off in financial assets, monetary tightening. As the market improves, our share prices will also improve. Investors should be patient,” said Kumar in an interview to ET. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zee-and-sun-tv-might-not-have-won-ipl-media-mandates-but-heres-how-they-will-benefit-from-the-ipl-auction/articleshow/92223279.cms">Zee and Sun TV might not have won IPL media mandates but here’s how they will benefit from the IPL auction</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/why-hindustan-motors-stock-wakes-up-from-a-slumber-doubles-investor-wealth-in-one-month/articleshow/92224507.cms">Hindustan Motors stock wakes up from a slumber, doubles investor wealth in one month – here’s why</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/news/domestic-travel-fuelled-by-revenge-tourism-aids-growth-in-hospitality-sector/articleshow/92223929.cms">Domestic travel, fuelled by revenge tourism, aids growth in hospitality sector</a>

India’s largest insurer cuts down its paperwork and that’s helped cut its costs by 40%

<ul><li>India’s biggest yet, the ₹21,000 crore <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> is now open for subscription.</li><li>Prior to opening it to the public, the LIC anchor book raised ₹5,627 crore from several mutual funds and foreign institutional investors, with over 123 anchor investors taking part.</li><li>However, domestic mutual funds bought a majority of the shares set aside for anchor investors ahead of the LIC IPO while not many FIIs participated.</li></ul>State-owned insurance behemoth Life Insurance Corporation of India (LIC) mopped up ₹5,627 crore at the upper price band of ₹949 per share. LIC’s anchor book witnessed strong demand from 123 anchor investors including the majority of domestic mutual funds (over 90 mutual fund schemes) and few global marquee investors. Domestic mutual funds bought 71% of the anchor shares set aside for anchor investors. Domestic mutual funds bought a majority of the shares set aside for anchor investors ahead of the LIC IPO while not many FIIs participated. Most marquee foreign investors skipped the LIC IPO despite the government <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/lic-ipo-centre-wooing-sovereign-pension-funds/articleshow/90870857.cms">reportedly </a>reaching out to the sovereign wealth and pension funds to be anchor investors. According to a report by the <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/lic-ipo-centre-wooing-sovereign-pension-funds/articleshow/90870857.cms">Economic Times</a>, India had approached the Abu Dhabi Investment Authority, Singapore-based GIC, three Canadian pension funds and the Qatar Investment Authority among other sovereign wealth funds and pension funds to be anchor investors in the IPO. Anchor investors are marquee institutional investors who are allotted shares in an IPO before the issue opens. As the name suggests, they ‘anchor’ the IPO issue by agreeing to subscribe to shares at a fixed price and thereby indicate a healthy demand for the soon-to-be listed shares. Top 10 <keyword id="13201658" type="General" weightage="20" keywordseo="lic-ipo-anchor-investors" source="Orion">LIC IPO anchor investors</keyword> Here are the top 10 investors that bought the majority of anchor book offerings. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anchor investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount invested </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Equity Hybrid Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹518 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BNP Investments LLC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹449 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Government Pension Fund Global (Norwegian fund) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹224 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Value Discovery Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹219 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Balanced Advantage Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹204 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Trustee Company, HDFC Balanced Advantage Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹200 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Blue Chip Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹190 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Government of Singapore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹151 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Bluechip Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹120 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Balanced Advantage Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹120 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>To give some perspective, analysts are concerned about LIC's growth prospects as it is losing market share to private players like HDFC Life, ICICI Prudential Life etc. Also, <a href="https://www.businessinsider.in/stock-market/news/analysts-recommend-subscribing-to-lic-ipo-due-to-cheap-valuation/articleshow/91258839.cms">analysts feel if LIC </a>is unable to retain agents, who bring huge business to the firm, the insurer could face challenges going forward. “LIC has lower new policy growth rate as they continue losing market share to private insurance players, especially in urban areas. Individual agents procure most of LIC’s individual new business premiums (close to 97%). If LIC is unable to retain and recruit individual agents on a timely basis and at reasonable cost, there could be a material adverse effect on their results of operations,” said analysts at Investmentz, an online investment platform. LIC has the largest individual agent network of 8.96 lakh, which dropped from 10.86 lakh as of March 31, 2021. Individual agents bring 96% of new business premiums to the life insurer. After anchor investment ahead of the IPO, the issue size has slashed to ₹15,372 crore. The IPO opened today and will close on May 9. Meanwhile, the premium on the LIC IPO in the grey market has fallen to ₹65 per share from ₹85 earlier. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/flipkart-swiggy-paytm-startups-that-have-raised-the-biggest-funding-rounds-in-the-last-two-year/slidelist/91305363.cms">Indian startups raised close to $60 billion in last two years — Flipkart, Swiggy, Paytm contributing the most</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/heatwave-in-india-what-is-wet-bulb-temperature-why-is-it-important-and-how-to-measure-it/articleshow/91306156.cms">Heatwave in India: What is wet bulb temperature, why is it important and how to measure it</a>

LIC IPO anchor book — domestic mutual funds step up as most marquee  foreign investors skip India’s biggest IPO yet

The Life Insurance Corporation of India (LIC) is hiring for 8000 Assistant posts across its Central, Eastern, East-Central, Northern, Northern Central, Southern, Southern Central and Western zones. The registration for <keyword id="8135972" type="UNKNOWN" weightage="20" keywordseo="Lic-job-recruitment-2019">LIC job recruitment 2019</keyword> opened on 17 September and the last day to register for the open positions is 1 October 2019. Interested candidates can apply on the company’s official website licindia.in. The job responsibilities include clerical work, cashier posts, customer service executives and window operations, offering a monthly stipend of ₹14,435. This will also include employee benefits such as House rent allowance, travel allowance, dearness allowance among others. Here’s how to apply: <ul><li>Visit the official website licindia.in </li><li>Go to the Careers tab on the homepage. </li><li>Choose the branch office where you want to apply </li><li>Click on the link that says ‘Apply Online’ </li><li>Enter your credentials — registration number, password and security code. </li><li>You can download the application and fee receipt for future reference. </li></ul> The candidates in the age bracket of 18-30 years can apply for the Assistant posts. They will be shortlisted on the basis of two computer-based tests followed by a medical examination.

Registration closes soon: LIC India is hiring for 8000 Assistant posts at a monthly stipend of ₹14,435

<ul><li>The IPO of the life insurance behemoth will finally open on May 4 and will close on May 9.</li><li>The price band of the IPO is fixed at ₹902-₹949 per share, which most analysts believe is low compared to other players.</li><li>The insurer’s premium in the grey market has increased to ₹85 per share.</li></ul>State-owned insurance behemoth Life Insurance Corporation of India (LIC) is finally about to launch its initial public offering (IPO) this week on May 4 after a long waiting period. Here are the answers to all your questions asking if one should subscribe to the IPO or not. Most analysts have recommended subscribing to the IPO on cheap valuation and because of the fact that it is a market leader in the fast growing and underpenetrated Indian life insurance sector. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investmentz </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe from long term perspective </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not rated </td></tr></tbody></table>“Though there are concerns over LIC regarding market share loss in individual insurance business and historically lower margins, we believe that valuations factor in most of the negatives. Expected improvements in product mix and greater transfer of surplus to shareholders account over the coming years are expected to drive profits from current low levels, which along with cheap valuations provide comfort,” said analysts at Angel one while suggesting retail investors to subscribe to the IPO with special discounts. The IPO is entirely an offer for sale by the government that is looking to raise ₹21,000 crore by selling 22.13 crore shares in the company. A special discount of ₹45 is being offered to retail investors and employees of LIC. And a discount of ₹60 per share is being offered to about 30 crore policyholders associated with the life insurer. Life Insurance corporation of India (LIC) is the largest insurance player in India and has a market share of more than 60% in total premium, however, its losing market share gradually over the years to small and newest players. Analysts believe LIC is significantly lower valued than other listed private players despite being the dominant player. LIC’s price band is fixed at ₹902-₹949. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listed life Insurance companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price as of May 2 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,080 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹579 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Life Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹517 </td></tr></tbody></table>Although analysts are concerned about losing market share they believe LIC’s large distribution channel will keep it at the top. “There are concerns about losing market share to private players and having lower profitability and revenue growth when compared to private players. However, we believe that LIC’s distribution advantage, increasing sales mix of direct and corporate channels, and a gradual shift to high margin non-participating products could be possible drivers for LIC’s future growth, negating lower than industry growth rates,” said analysts at Investmentz, an online investment platform. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><thead><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Life insurers </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">FY21 market share in total premium </th></tr></thead><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LIC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">61.60% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.80% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.60% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Max Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Allianz Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.60% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Private players </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.40% </td></tr></tbody></table>LIC has the largest individual agent network of 8.96 lakh, which dropped from 10.86 lakh as of March 31, 2021. And individual agents bring 96% of new business premiums to the life insurer, however things have changed in the last few years because of the pandemic. The number of active individual agents at LIC dropped by 17.48% to 8.96 lakh as of September 30, 2021 from 10.86 lakh as of March 31, 2021. Analysts feel if LIC is unable to retain agents, who bring huge business to the firm, the insurer could face challenges in operating. “LIC has lower new policy growth rate as they continue losing market share to private insurance players, especially in urban areas. Individual agents procure most of LIC’s individual new business premiums (close to 97%). If LIC is unable to retain and recruit individual agents on a timely basis and at reasonable cost, there could be a material adverse effect on their results of operations,” said a report by Investmentz. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/heres-how-gautam-adani-and-mukesh-ambani-are-gearing-up-to-compete-against-each-other-and-what-this-means-for-the-industry/articleshow/91258212.cms">Here’s how Gautam Adani and Mukesh Ambani are gearing up to compete against each other and what this means for the industry</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bharatpes-ashneer-grover-plans-to-start-another-business-without-any-investors/articleshow/91255089.cms">After being ousted from BharatPe, Ashneer Grover plans to start another business without any investors</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/news/green-hydrogen-and-indias-new-policy-around-it/articleshow/91251724.cms">EXPLAINED: Green hydrogen and India’s new policy around it</a>

LIC IPO: Analysts are concerned about the dropping market share but recommend subscribing to the IPO due to cheap valuation

<ul><li>New income tax slabs: 10% tax on income between ₹7.5 lakh without exemption compared to 20% right now.</li><li>15% tax on income between ₹7.5 lakh and ₹10 lakh without exemption compared to 20% right now.</li><li>20% tax on income between ₹10 lakh and ₹12.5 lakh without exemption compared to 30% right now.</li><li>25% tax on income between ₹12.5 lakh and ₹15 lakh without exemption compared to 30% right now.</li><li>Cost to the exchequer ₹40,000 crore; Removed 70 tax exemptions and deductions. These new rates are available to those who forego exemptions, deductions, and rebates.</li><li>Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore</li><li>SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms" data-type="tilCustomLink" target="_blank">Business Insider India live blog</a> on Budget 2020.</li></ul>Finance Nirmala Sitharaman presented her second annual budget speech. The top highlights from the budget 2020 proposals include the government's plan to sell stake in state-iowned insurance giant Life Insurance Corporation of India, sweeping changes in the income tax slabs, as well as the abolition of the dividend distribution tax at the end of the corporates. Aside from theses, startups with revenue up to ₹25 crore can avail 100% tax deduction in any three years over a period of 7 years, according to the latest Finance Bill presented by Sitharaman. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="image" title="Finance Minister Nirmala Sitharaman" msid="73828645" hostid="261" caption="&amp;lt;p&amp;gt;&amp;quot;As per tradition, Finance Minister Nirmala Sitharaman calls on President Kovind at Rashtrapati Bhavan before presenting the Union Budget,&amp;quot; the official handle of the President&amp;#39;s office tweeted today.&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div>


































 Following are the key highlights of the budget speech: <ol><li>Only through higher growth, we can have our youth gainfully and meaningfully employed.</li><li>Fundamentals of the economy are strong, inflation has been contained, banks have been cleaning up the accumulated loans of the past decade. </li><li>An average household now saves about 4% of its monthly spends due to lower incidence of tax under the GST regime.</li><li>Welfare schemes with direct benefit transfer embedded in them, preventive healthcare via programmes like sanitation, healthcare via central schemes, housing scheme via Prime Minister Awas Yojana (PMAY) etc changed the established order of a few individuals cornering most of the benefits. </li><li>During 2014-19, Indian economy grew at an average of 7.4% with low inflation. India's foreign direct investment was $284 billion between 2014 an 2019 compared to $190 billion in the preceding five-year period.</li><li>India's government debt fell to 48.7% of GDP as of March 2019 compared to 52.3% as of March 2014.</li><li>Three themes of Budget 2020: 'Aspiring India', 'economic development', and 'to build a caring society'. </li><li>We shall aim for seamless delivery of services by leveraging technology. </li><li>6.11 crore farmers insured under Prime Minister Fasal Bima Yojana - a centrally-sponsored insurance scheme. Farm markets need to be liberalised.</li><li>16 action points: 1: Encourage state governments that will implement the following model laws that have already enacted by the centre. 2: Propose comprehensive measures for 100 water-stressed districts. 3: Expand outlay for solar pumps to 20 lakh farmers, another 15 lakh farmers to pumpsets to solar grid. Farmers if they have barren lands, they can set up solar power plants and sell it to the grid. 4: Balanced use of orgnaic and inorganic fertilisers. 5: Provide viability gap funding for setting up warehouses. Food Corporation of India can set up warehousing on their land too. 6: Push to reduce storage costs for farmers. 7: Promotion of women self-help groups. 8: To launch refrigerated trains to transport food items from the farm to other parts of the country. 9: Horticulture exceeds the production of foodgrains. 'One product for one district' to promote focussed development of horticulture. 10: Integrated farming system in rain-fed areas. Multiple crops, bee-keeping solar pumps in rain deficient area. 11: Financing on negotiable warehousing receipts will be linked to e-NAM. 12: The NABARD refinance scheme will expanded. The agriculture credit target for FY21 will be expanded to ₹15 lakh crore from ₹12 lakh crore. 13. To eliminate foot and mouth disease by 2025. To double milk production to 108 million metric tonnes by 2025. 14. Blue economy - development management of marine resources. Target ₹1 lakh crore in fish exports by 2025. 15. By FY23, propose raising fish production to 200 lakh tonnes, will also promote algae, seaweed.</li><li>16. Under Deendayal Antyodaya Yojana, self help groups will be expanded beyond the current 58 lakh.</li><li>Allocation for agriculture: ₹2.83 lakh crore, this includes ₹</li><li>Mission Indradhanush has been expanded to include 12 new diseases and 5 new vaccines. A very focussed water and sanitation programme to reduce the burden of diseases on the poor. There are 20,000 hospitals empanelled under the PMJAY, this has to rise. Propose to set up hospitals under the private-public partnership, the 112 districts identified as 'aspirational' will get priority in the setting up of new hospitals. </li><li>Proceeds from taxes on medical devices will be used to support the programme to build the infrastructure.</li><li>Reiterate India's commitment to eradicate tuberculosis by 2025. </li><li>Allocation for health: ₹69,000 crore including ₹6,400 crore for PMJAY.</li><li>By 2030, India is set to have the world's largest working-age population. They need education, skills, and employment opportunities. Our education system needs more money to attract better teachers and to set up better labs. Open the education sector to external commercial borrowing. </li><li>In order to provide quality education to the under privileged, a full-fledged online courses will be launched from the top 100 institutions in India.</li><li>Under 'Study In India' programme, a new INSAT exam to be launched for foreign students to enroll into Indian universities. </li><li>Every medical college will be linked to a nearby hospitals under the public-private partnership mode.</li><li>Total outlay for education sector: ₹99,300 crore and another ₹3,000 crore for skill development.</li><li>150 top education institutes to start offering apprenticeship programmes.</li><li>Propose to set up an investment clearance cell for end-to-end services including information on land bank and facilitating the approval process etc. </li><li>It is proposed to develop 5 new smart cities in collaboration with state governments in PPP mode. </li><li>Electronics manufacturing industry is cost competitive and India has shown its potential. To attract large investments in electronic manufacturing -- including electronic equipment, smartphones -- a new policy will be announced soon.</li><li>A National Textile Mission to work for next four fiscal years with an estimated outlay of ₹1,480 crore.</li><li>A new scheme Nirvik, for higher insurance cover, reduction in premium for small exporters, and simplified claim process, including digital refund process to help exporters.</li><li>Every district must become a hub for exports.</li><li>Unified procurement scheme: Propose ₹27,300 crore for development of industry and commerce in FY21.</li><li>National Infrastructure Pipeline will bring in generic and sectoral reforms in construction and maintenance of the infrastructure. Propose a project preparation facility that will employ economist, management graduates to execute projects.</li><li>A National Logistics Policy will soon be released to clarify the roles of Central government, state governments, and the regulators.</li><li>The Delhi-Mumbai Expressway and two other projects will be completed by FY23. The Chennai-Bengaluru expressway project will also started by then.</li><li>Government will monetise 12 NHAI highway projects.</li><li>Setting up a large solar power capacity alongside the rail tracks on the land owned by the railways, is a proposal under consideration.</li><li>150 trains under the PPP mode. More Tejas type trains will connect iconic tourist destinations. </li><li>Central government will give 20% of the funds needed for a suburaban rail transport system in Bengaluru.</li><li>100 more airports will be set up in the next five years.</li><li>₹1.7 lakh crore allocated for transport infrastructure.</li><li>Propose to replace traditional meters with digital meters in the next three years. This will allow consumers to port out of a service provider (selling power) just like they port out of mobile service provider.</li><li>Fibre to home connections through Bharat Net will connect 1 lakh villages this year itself. Propose to provide ₹6,000 crore for Bharat Net programme.</li><li>Quantum technology: An outlay of ₹8,000 crore over the next five years.</li><li>₹22,000 crore allocated for the power sector including renewble energy sector.</li><li>No manual cleaning of sewers will be allowed, new technology will be roped. Centre in conversation with civic bodies.</li><li>Provision of ₹85,000 crore for scheduled castes and other backward classes.</li><li>Provision of ₹53,700 crore for scheduled tribes in the country.</li><li>5 archaeological sites would be developed as iconic sites with on-site museum -- Rakhigarhi (Haryana), Hastinapur (UP), Dholavera (Gujarat), Shivsagar (Assam), and Aditya Nallur (Tamil Nadu).</li><li>Propose ₹35,500 crore for nutrition-related schemes.</li><li>Allocation for Ministry of Culture: ₹3,500 crore. </li><li>Propose ₹2,500 crore to promote tourism.</li><li>Propose ₹9,500 crore for senior citizens and specially abled.</li><li>Proposed total allocation for women-centric programmes ₹28,600 crore.</li><li>Propose ₹4,400 crore allocation for clean air. </li><li>Companies Act will be amended to abolish 'criminal liability' for 'civil offences'.</li><li>A National Recruitment Agency will be set up. It will conduct a common entrance test for non-gazetted positions in the government and public-sector enterprises. </li><li>Propose a new national policy on national statistics will push for use of AI to collect data real time.</li><li>India will host G20 Presidency in 2022; the government proposes to allocate ₹100 crore to start the preparations.</li><li>Governance reforms proposed for PSU banks: Robust mechanism is in place to monitor the health of all banks and the money of depositors are safe. Insurance of bank deposits raised to ₹5 lakh from ₹eposit insurance and credit guarantee scheme.</li><li>Government will sell its remaining stake in IDBI Bank to private investors. Stock jumps over 13%</li><li>MSME entrepreneurs can avail 'subordinate debt' from banks and the loan will be fully guaranteed by a Trust. This will be treated as quasi-equity stake.</li><li>Government has asked RBI to extend deadline for MSME debt restructuring by one more year. </li><li>FY20 fiscal deficit seen at 3.8% of GDP and at 3.5% in FY21.</li><li>Non-resident Indians will be allowed to invest in certain categories of government bonds.</li><li>Currently, foreign portfolio investors are allowed to buy a maximum of 9% of the outstanding corporate bonds. Finance Minister proposes to increase the threshold significantly to 15%.</li><li>An international bullion exchange will be set up in GIFT City in Gandhinagar, Gujarat.</li><li>Government to sell stake in LIC. </li><li>Receipts for FY21 estimated at ₹22.46 lakh crore, estimate expenditure: ₹</li><li>Borrowing plan for FY21: ₹5.36 lakh crore, capital expenditure will rise over 22%.</li><li>Dividend distribution tax will be abolished, it will be taxable in the hands of the recipient. Cost to exchequer: ₹25,000 crore</li><li>Dividend and capital gains made by foreign funds on investment in infrastructure space will tax free.</li><li>Startups with revenue up to ₹25 crore can avail 100% tax deduction in any three years over a period of 7 years.</li><li>Small retailers with revenue up to ₹5 crore need not get their books audited by accountants.</li><li>New scheme to end tax disputes: If someone agrees to pay the disputed tax amount by March 2020, there will be no interest and penalty. There are 4,83,000 tax disputes pending at various forums.</li><li>FY21 disinvestment target ₹2.1 lakh crore, doubled from the ₹1.05 lakh crore target in FY20.</li><li>Propose a cash incentive for customers demanding invoice, to boost compliance with GST</li><li>Imported footwear, furniture, and medical equipments will get more expensive as customs duty will be increased.</li></ol> SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/new-income-tax-slab-tax-savings-for-salaried-people/articleshow/73835816.cms">You'll save ₹78,000 more under new income tax slabs if you earn less than ₹15 lakh</a> <a href="https://www.businessinsider.in/budget/news/indian-government-infuses-22000-crore-in-power-and-renewable-proposes-freedom-to-choose-supplier/articleshow/73835587.cms">Indian government infuses ₹22000 crore in power and renewable, proposes freedom to choose supplier</a> <a href="https://www.businessinsider.in/budget/income-tax/news/check-out-new-income-tax-slab-of-2021/articleshow/73830824.cms">New income tax slabs 2020</a> <a href="https://www.businessinsider.in/budget/news/there-will-be-no-manual-cleaning-of-sewers-anymore-announces-nirmala-sitharaman/articleshow/73835265.cms">“There will be no manual cleaning of sewers anymore,” announces Nirmala Sitharaman</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms">Union Budget 2020 Live Updates</a> <a href="https://www.businessinsider.in/budget/news/indian-taxpayers-expectation-from-the-budget-2020/articleshow/73804969.cms" data-type="tilCustomLink" target="_blank"></a><a href="https://www.businessinsider.in/defense/news/indias-budget-allocation-for-defence-has-remained-fairly-static-for-the-past-five-years/articleshow/73153930.cms" data-type="tilCustomLink" target="_blank"></a>

Income tax cuts, stake sale in LIC and other highlights from Finance Minister Nirmala Sitharaman's budget speech

<ul><li>India is on the threshold of setting up a new national bank that will raise money to fund long-term infrastructure projects, which typically have high risk and low payout.</li><li>The bank plans to overcome the issues of funding projects by allowing pension funds, insurance funds, sovereign funds and foreign investors to provide capital.</li><li>However, experts believe that there is more than just the absence of money plaguing the lack of money for infrastructure in India.</li></ul>The Indian government is on the cusp of setting up a new bank that will raise money from big pension funds, insurance funds, sovereign funds and foreign funds to invest in long-term infrastructure projects. Indeed, India’s infrastructure deficit is mammoth and it needs money. However, there is a lot else that impedes such projects in India. <div type="Article" hostid="261" msid="81530506" title="India sets up a new bank for big infrastructure projects as it aims to raise $41 billion in a few years" mstype="2" mssubtype="0"></div> According to global research firm Phillip Capital, lack of funds is why 17% of projects within the manufacturing industry in India have stalled. And, even though there has not been an uptake in the number of projects, which are on hold right now — there haven’t been any new major projects announced either in the last nine months. So money is not the only issue at hand for the Narendra Modi administration. <div type="image" title="reasons for delay" msid="81549201" hostid="261" caption="&amp;lt;p&amp;gt;Top reasons for delays in infrastructure projects in India&amp;lt;/p&amp;gt;"></div> The Union Budget 2021 provides capital infusion of ₹20,000 crore and an initial grant of ₹5,000 crore. According to Sitharaman, the government expends the <keyword id="51937" type="COMPANY" weightage="20" keywordseo="DFI">DFI</keyword> to raise up to ₹5 lakh crore in the next three years because it can access the market and capitalise on funds that are not otherwise available. "This will add up to the long-term financing sustainability of DFI in comparison to commercial banks which typically do not have the bandwidth to off long-term capital for infrastructure projects," Arun Kumar, a partner at legal firm IndusLaw, told Business Insider India. That may sound ambitious but ₹5 lakh crore is not even 5% of the kind of investment that India needs. The National Infrastructure Pipeline (NIP) has identified 7,000 projects that require over ₹111 lakh crore in investment in core sectors like power, roads, railways, and urban projects over the next five years, which means, the private sector has to chip in with the big bucks. "Without a subsidy it is financially unviable for the private sector to invest in infrastructure and therefore it is the state which should spearhead infrastructure," banking analyst Hemidra Hazari told Business Insider India. Ghosts of the past Everyone in India knows that its banks are saddled with bad loans. A big chunk of these unpaid loans were doled out during a similar thrust for building infrastructure. “The bank led infrastructure financing strategy from 2003 to 2008 has resulted in an NPA mess,” Varun Malhotra, director and founder of Edge Institute of Financial Services (EIFS) — a financial education institution — told Business Insider. <div type="image" title="Copy of india&amp;#39;s economic growth(1)" msid="81549216" hostid="261" caption="&amp;lt;p&amp;gt;NPAs with domestic banks in India over the last six years&amp;lt;/p&amp;gt;"></div> According to Abhishek Saxena — the co-founder and partner of Phoenix Legal — the DFI will also need to have adequate risk mitigation strategies in place and recruit human capital with the right set of skills to be able to identify good projects for lending. “The DFI will need to ensure availability of funds with long tenure at low cost to avoid asset liability mismatches of the past which resulted in past lending turning into NPAs,” he said. Disinvestment on one hand and DFI on the other The resounding consensus in India’s capital markets these days ⁠— echoed by none other than the Prime Minister himself⁠ — is that the government has no business being in business. Therefore, from LIC to IDBI to Coal India, the government has put its stake in many state-owned companies up for sale. On the other hand, this mega infrastructure drive is being led by the government itself. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ministry </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target 2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assets </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Railways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50 stations and 150 private passenger trains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹40,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom assets of BSNL, MTNL and Bharatnet </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Road Transport and Highways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Road length of over 7,000 kilometres </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹27,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Transmission assets of Power Grid </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Youth Affairs and Sports </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sports stadia </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Civil Aviation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13 airports under the Airports Authority of India (AAI) and AAI’s stake in Delhi, Mumbai, Bangalore and Hyderabad airports </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Petroleum and Natural Gas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pipelines of GAIL, IOCL and HPCL </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shipping, Ports and Waterways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Over 30 berths </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Two public sector banks and LIC </td></tr></tbody></table>Source: <a href="https://indianexpress.com/article/business/assets-monetisation-economy-privatisation-7231656/" id="docs-internal-guid-c7b8aabb-7fff-4870-fe74-d96c439ce7bf">IndianExpress</a> This is not the first time that India has done this experiment. The Industrial Finance Corporation of India (IFCI), Industrial Credit and Investment Corporation of India (ICICI) and the Industrial Development Bank of India (IDBI) were established to provide long-term financing between 1948 to 1964. “Financial markets, especially debt markets are quick to emerge, when the opportunities arise. The problem with infrastructure is usually, and more certainly in India, with the sector as such — regulatory and policy uncertainties, allocative inefficiencies arising out of governmentís influence in investment decisions — than in the need for special financial dispensation for infrastructure,” said Infrastructure Development Finance Company (<a href="http://www.idfc.com/pdf/report/IIR-2001.pdf">IDFC</a>) in a report it released in 2001. When the above argument found enough takers, the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword>’s (RBI) ‘support’ offered to these banks — built to develop India’s infrastructure — was withdrawn in the 90s. The banks had to face market-based rates, leading to their inevitable downfall. Since then, commercial banks have had to pick up the slack and their capacity to take on risk was limited. The argument has come a full circle since then. “The best answer to this infrastructure financing problem would be a vibrant debt market where long-term bonds can be issued. But in the absence of such a bond market, the idea of setting up a DFI for funding infrastructure projects of national importance is not a bad idea,” Malhotra explained. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zerodha-founder-nikhil-kamath-flipkart-ceo-kalyan-krishnamurthy-and-others-buyout-chinese-investor-shunwei-capital-stake-in-koo-app/articleshow/81548852.cms">A flurry of Indian A-list entrepreneurs buyout Chinese investor Shunwei Capital’s stake in Koo – the microblogging site that’s taking on Twitter</a> <a href="https://www.businessinsider.in/tech/news/elon-musk-turns-down-1-million-for-the-tweet-he-was-selling-as-an-nft/articleshow/81546434.cms">Elon Musk turns down $1 million for the tweet he was selling as an NFT</a> <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it</a>

India hopes that more money will bridge the infrastructure gap⁠ but many believe that may not be enough

Studying abroad is a dream for many students in India, and it’s the exposure, varied opportunities and an interaction with the global community that attracts most students. A common challenge to those dreams is mostly lack of finance. However, thanks to various <keyword id="6360098" type="UNKNOWN" weightage="100" keywordseo="Education-loan">education loan</keyword> opportunities available, students all across the country are being able to realise this dream, with banks and other financial institutions offering loans to students for undergraduate, graduate and professional courses. 
 
However, there are certain criteria that one has to fulfil in order to be eligible for such loans. Given below are a few must-knows before applying for an education loan: 
 
 
The process 
 
It is important to keep a track of the rate of interest charged by commercial banks on education loan. Current interest rates on education loan in India are 11-12% onwards. However, the rate differs from bank to bank, depending on the tenure taken and the amount of loan. Certain banks also offer benefits like lower interest rates for girls; for example loan offered to girls will carry lower interest rates by up to 50 bps (0.5 per cent). 
 
For a student to avail an education loan, a co-borrower or a guarantor like a parent or guardian is usually essential. However, if the loan amount exceeds a certain amount, you might need to arrange for suitable collateral, which could be an immovable property, fixed deposit or an LIC policy, among other options. 
 The guarantor on the education loan is liable for its repayment if one fails to pay the EMIs. The guarantor's <keyword id="6380215" type="ORGANIZATION" weightage="100" keywordseo="CIBIL">CIBIL</keyword> Report will show the details of this education loan and defaults will also show if the loan is not repaid, which can lead to the guarantor's credit history and score to be negatively impacted by any delayed payments. Therefore, you may end up putting your guarantor’s CIBIL Report and score at risk if payments are not done on time. 
 
 
Preparation required 
 
To get a loan, one would need to fill an education loan application form, and submit mark sheets of last qualifying examination, proof of admission at the institute you have applied to, the entire cost and expenses for the specified course, the PAN card of the student or of the parent/ guardian, and co-borrower's bank account statement for the last six months. Other than this, the bank will also seek IT returns for the previous two years and proof of income of the guarantor. It is also extremely crucial to keep a track of your and your guarantor’s CIBIL TransUnion score and CIBIL report before applying for the loan. The banks will be checking the loan guarantor’s CIBIL Report and Score prior to approving the loan. 
 
Repayment 
 
Repayment of the education loan on time should be of top priority. For education loans, banks allow a holiday period during which one does not have to start repaying the loan. This period is called as the ‘moratorium’ period in banking terms and is usually taken as the course period plus one year or six months after getting a job, whichever is earlier. It is after this period that the EMIs of education loan begin. 
 
Your CIBIL report not only reflects all your loans but also reflects the transactions related to payment of your education loan. This impacts the CIBIL TransUnion score and therefore any non-repayment of EMIs will lead to a low score which can cause a hindrance whenever you want to avail any loan in the future. 
 
To ensure timely payments of EMIs, many students take up jobs while studying to manage their living expenses and pay their dues on time. They also take such a step to ease their parents’ financial burden and start financing themselves on their own. In a worst case scenario, if you are unable to repay your education loan, you can ask the bank to lower your burden by reworking your repayment terms and suggesting a lower EMI. 
 
The entire motive of an education loan is to reduce the financial burden of a student so their futures are not compromised due to paucity of finance. Hence, paying it off should be the first step a student must opt for in order to not let their future plans suffer. 
 
Your credit history and score impacts your access to finance at every stage and milestone of life. Certain companies may ask you to submit your CIBIL Report and score before recruitment. Hence, maintaining a healthy credit record is warranted for building a safe financial future. " 
 About the author: <keyword id="1801472" type="PERSON" weightage="100" keywordseo="Harshala-Chandorkar">Harshala Chandorkar</keyword> is the Chief Operating Officer of CIBIL 
 
<a href="http://www.rhbbank.com.sg/products-and-services/personal/loans/education-loan/images/poster.jpg">Image source</a>

Must knows before applying for an education loan

<ul><li>NPCI is recruiting 250 plus graduate engineering trainees across the country.</li><li>The online application window has opened today, April 22, and will close on April 28.</li><li>Engineering graduates from the 2021 and 2022 batches can apply for the opportunity.</li></ul>The National Payments Corporation of India (NPCI), an initiative by the Reserve Bank of India to enable digital payments, has announced a pan India recruitment drive which will be hiring more than 250 graduate engineering trainees. The online application window has opened today, April 22, and will close on April 28. Engineering graduates from the 2021 and 2022 batches can apply for the opportunity. “This initiative aims to leverage the powerful combination of education and technology to upgrade retail payments, widen the audience reach, and build greater efficiency for a hassle-free, financially independent India. GETs will be the key drivers of innovation, to ensure finance and digital payment systems reach everyone through the click of a button,” says the notification rolled out by NPCI. GETs will be placed at NPCI’s offices located at the key metro cities across India. As part of the recruitment drive, NPCI will also be offering a ‘Learn DeepTech while you Earn’ programme for the trainees to pursue postgraduate(PG) certification in artificial intelligence and machine learning (AI/ML) or blockchain from a reputed institution. Selected trainees will also get the opportunity to pursue one year post-grad programmes in addition to the salary package being offered to them. “Through this initiative, we at NPCI wish to create high impact career opportunities for young innovators to contribute towards developing breakthrough technology in the payments space. We will continue to work with India’s tech-savvy brains and develop revolutionary offerings to create a delightful and seamless payment experience for millions of Indians.” said Nishith Chaturvedi, chief human resource and admin at NPCI. Fresh graduates will get to work on live projects where they get to work on products like UPI, RuPay, and FASTag that most people have started using in India now-a-days. Interested candidates can fill out the application form <a href="https://career.npci.org.in/">here</a> and seek more details <a href="https://www.npci.org.in/PDF/npci/press-releases/2022/NPCI-press-release-NPCI-to-recruit-and-train-250-Engineering-Trainees-from-across-India.pdf">here</a>. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/lic-ipo-size-might-be-cut-to-30000-crore-says-report/articleshow/91000119.cms" style="">LIC IPO size might be cut to ₹30,000 crore, says report</a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-guidelines-for-credit-cards-debit-cards-no-hidden-charges-insurance-on-credit-card-frauds-and-more/articleshow/90995780.cms" style="">From no hidden charges to insurance on credit card frauds and lost cards, here are RBI's new guidelines for credit and debit cards</a> <a href="https://www.businessinsider.in/business/auto/news/here-are-the-auto-companies-that-have-exited-the-indian-market-in-the-last-five-years/slidelist/90999115.cms" style="">From Datsun, Harley to Ford, these eight major auto companies exited India in the last five years</a>

NPCI to hire more than 250 engineering trainees from across the country

An increasing number of jobseekers prefer to choose companies providing permanent <keyword id="123591" type="General" weightage="20" keywordseo="work-from-home" source="Orion">work from home</keyword> option, according to a report. The onset of the Covid-19 <keyword id="43587" type="General" weightage="20" keywordseo="pandemic" source="Orion">pandemic</keyword> made working from home the new normal for many job roles. According to <keyword id="218117" type="General" weightage="20" keywordseo="naukri-com" source="Orion">Naukri.com</keyword>, the job platform has seen 93,000 permanent and temporary remote jobs being listed since July last year. Of these, 22 per cent jobs were for permanent remote roles only. In the last six months, Naukri.com has seen 32 lakh job searches for permanent and temporary remote jobs, by Indian job seekers. Of these, about 57 per cent of searches were made for permanent remote jobs during the same time, with the highest search that is, over 3.5 lakh being reported only in the month of December 2021. "There is a foundational change in how recruiters are setting up organisational structures," said Pawan Goyal, Chief Business Officer, Naukri.com, in a statement. "While uncertainty prevails due to the pandemic, more and more recruiters are acknowledging the benefits of work from anywhere like access to talent and more inclusion and are now beginning to make permanent changes to the human resource and infrastructure requirements at a corporate level," he added. In general, both large and small companies have posted all three types of jobs i.e. regular jobs, temporary work-from-home and totally remote jobs. Data reflects that IT Software, Software Services, ITeS and Recruitment/Staffing sectors are posting more permanently remote jobs. Some of the companies posting both temporary and permanent remote jobs are Amazon, Tech Mahindra, HCL, PWC, Trigent, Flipkart, Siemens, Deloitte, Oracle, Zensar, TCS, Capgemini etc, the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/these-are-discounts-and-perks-for-lic-policyholders-will-get-while-applying-for-the-ipo/articleshow/89585424.cms">These are discounts and perks for LIC policyholders will get while applying for the IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/kia-carens-price-specs-features-comparison-with-alcazar-india/slidelist/89589644.cms">Kia Carens launched in India — Price, specs, features compared to Hyundai Alcazar</a>

Increasing number of Indians now prefer to permanently work from home since pandemic, says a report

<ul><li><keyword id="2988161" type="General" weightage="20" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword>’s resignation from the board and management of <keyword id="7349800" type="General" weightage="20" keywordseo="Bharatpe" source="Orion">BharatPe</keyword>.</li><li>It all started with a leaked audio, where Grover was allegedly heard hurling abuses at a Kotak Mahindra employee.</li><li>He continues to be the largest individual shareholder at BharatPe with 9.5% shareholding.</li></ul>Ashneer Grover’s <a href="https://www.businessinsider.in/business/startups/news/ashneer-grover-resigns-from-bharatpe-heres-what-he-wrote-in-his-resignation-letter/articleshow/89912762.cms" data-type="tilCustomLink">resignation </a>from the board and management of BharatPe has been the top news from the Indian startup ecosystem on Tuesday. The company was among the youngest unicorns of India, but it has been surrounded by controversies ever since it entered its fourth year of operations. It all started with a leaked audio, where Grover was allegedly heard hurling abuses at a Kotak Mahindra Employee for not being able to finance Nykaa’s IPO allotment for him and his wife Madhuri Jain. One thing led to another and Grover had to resign from BharatPe. Here is how one of the biggest boardroom fights in India’s corporate history panned out over the past few months: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Date </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Event </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2018 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BharatPe was founded by Shashvat Nakrani and Bhavik Koladiya. Ashneer Grover, an angel investor in the company, came onboard as a cofounder. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 5, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">An anonymous Twitter handle called “Bongo babu” shared a soundcloud link to an audio clip, where Grover was allegedly heard hurling abuses at an employee of Kotak Mahindra Bank. The conflict happened because Kotak Mahindra Bank was allegedly unable to get Nykaa’s IPO allotment for Grover and his wife, the audio clip revealed. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 6, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grover claimed that the audio clip circulating on social media was fake and someone was trying to exhort $240,000 in bitcoin from him. He later deleted the tweet thread after the audio was taken off SoundCloud. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 9, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Media reports revealed that Grover and his wife had sent a legal notice to Kotak Mahindra Bank on October 31, 2021 for failing to provide financing in Nykaa’s IPO. The bank said that they will take “appropriate legal action” against Grover over the content of the audio clip. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 17, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">A report by The Economic Times has relieved that previously there was a brawl between Grover and Sequoia India’s Harshjit Sethi as well as the investment firm was looking to take a step back from the company’s upcoming funding round. The report was based on email exchange between the two in august 2021. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 19, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashneer Grover was sent on voluntary leave till the end of March, 2022. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 29, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The board of BharatPe decided to conduct an independent audit of the company’s internal processes and systems. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January 30, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grover hired a Delhi-based law firm alleging that the company pressured him to quit. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 4, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Media reports suggested that the preliminary audit has revealed certain fraudulent transactions in recruitment and payments to non-existent vendors. Grover’s wife Madhuri Jain’s name was being linked to these transactions. Grover had also sought removal of CEO Suhail Sameer’s removal from the board. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 5, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashneer Grover had demanded ₹4,000 crore in exchange for his 9.5% stake in the company. The company later rejected the demand. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 10, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jain had written to Alvarez &amp; Marsal (A&amp;M), who conducted the independent audit. She questioned the consulting firm about the recent media leaks, she also raised concerns over the alleged irregularities in the recent probe at the fintech firm. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 22, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grover sought protection from any future action against him as a part of settlement with BharatPe, an Economic Times report revealed. He also filed an arbitration plea in Singapore to protect his shareholdings in the company. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 23, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BharatPe <a href="https://www.businessinsider.in/business/startups/news/bharatpe-fires-ashneer-grovers-wife-madhuri-jain-and-she-takes-to-twitter-to-make-a-new-set-of-allegations-against-the-company/articleshow/89767491.cms">terminated</a> Madhuri Jain on charges of misappropriation of funds. Jain, who had been in charge BharatPe’s finance. After her termination, she accused BharatPe’s founders and CEO of misdemeanor. Grover also launched an attack on board chairman Rajnish Kumar, who was the former chairperson of SBI. “The entire façade of the alleged governance review is riddled with premeditation, bias and prejudice,” Grover said. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 27, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The Singapore International Arbitration Center (SIAC) rejected Grover’s plea. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 1, 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashneer Grover resigned as the managing director and director of BharatPe. He continues to be the largest individual shareholder at BharatPe with 9.5% shareholdings. </td></tr></tbody><tbody></tbody></table> SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/lic-ipo-may-get-postponed-as-the-government-may-review-the-timing-due-to-russia-ukraine-uncertainty/articleshow/89926212.cms">LIC IPO may get postponed as the government may review the timing due to Russia-Ukraine uncertainty</a> <a href="https://www.businessinsider.in/business/corporates/news/new-air-india-under-tata-ceo-declines-job-offer-at-the-last-moment-amid-his-alleged-political-links/articleshow/89920258.cms" data-type="tilCustomLink">New Air India CEO declines the role at the last moment, says Indian media ‘coloured’ his appointment</a> <a href="https://www.businessinsider.in/india/news/cheap-liquor-in-delhi-is-a-thing-of-the-past-now/articleshow/89919730.cms">Cheap liquor in Delhi is a thing of the past now</a>

The series of events that led to Ashneer Grover’s resignation from BharatPe

<ul><li>At 7:50 am the SGX Nifty was trading 0.82% lower pointing towards a weak start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to tread lower amidst negative cues from global peers. At 7:50 am the SGX Nifty was trading 0.82% lower pointing towards a cautious start for Nifty50. On Tuesday, the US stocks also plunged as investors continued to rotate out of the tech sector. The Dow Jones Industrial Average ended 2.25% lower. And, the S&amp;P 500 sank 2.7% towards the end of trading. Here’s a list of stocks to watch for in trade on September 9: Wipro The IT major Wipro yesterday announced its plans to set up a digital innovation hub at Dusseldorf in Germany. The company said that it would serve as its major’s flagship centre in Europe. The proposed Digital Innovation Hub will offer digital transformation expertise to companies in Germany, enabling organisations to cross skill and upskill besides supporting talent development in local communities, the company said in a statement. The shares of Wipro ended 1.2% higher yesterday. Astrazeneca The last-stage studies of Astrazeneca COVID-19 vaccine are on a temporary hold as the company is investigating if the patient who suffered serious side effects had anything to do with their vaccine trial shots. The shares of Astrazeneca ended 1% higher yesterday. Oil, paint and aviation stocks will be in focus Brent crude slips below $40 for the first time since June 30. This may come as good news for paint manufacturers and airlines industry. Taking this into account the shares of listed aviation giants like IndiGo, SpiceJet and paint manufacturers like Asian Paints, Berger Paints may react during the trade today. IDBI Bank IDBI Bank sold the remaining 1 million shares amounting to 0.21% stake in the National Stock Exchange of India. When LIC acquired 51% stake in IDBI Bank, the shareholding threshold in NSE was breached as both LIC and IDBI held stake in NSE before that. The shares of IDBI Bank ended 1.3% lower yesterday. TeamLease Services The Bengaluru based recruitment service provider TeamLease Services increased its stake from 40% to 76.37% in the edu-tech company Schoolguru. The shares of TeamLease Services ended 3% lower yesterday. Future Consumer Kishore Biyani owned Future Consumer reported ₹68.4 crore loss for the first quarter ended June 30. The overall revenue was down 63.7% to ₹380.5 crore. Enam Finance also sold 1 crore shares of the company at a floor price of ₹10.13 per share. This may also move other Future Group subsidiaries such as Future Lifestyle Fashions, Future Enterprises, Future Retail, among others. The shares of Future Consumer ended 3% lower yesterday. Reliance Industries RIL-owned Jio is looking to manufacture over 100 million low-cost smartphones on the Google platform. According to <a href="https://www.business-standard.com/article/current-affairs/top-headlines-jio-plans-to-roll-out-100-mn-phones-pubg-sheds-china-link-120090900150_1.html">reports</a>, the phones will be bundles with data packs and may launch in December next year. The shares of RIL ended 1% higher yesterday. Bharat Dynamics The ₹900 crore offer for sale of the government shares in Bharat Dynamics received an overwhelming response on day one and was subscribed 1.40 times by non- retail investors. The Union government is selling over 2.74 crore shares of the company at a floor price of ₹330 apiece. The shares of Bharat Dynamics ended 14% lower yesterday. Happiest Minds Tech IPO ends today Today is the last date to subscribe to Happiest Minds Tech ₹702 crore IPO. The IPO was 8.3 times subscribed at the end of Day 2. Route Mobile IPO opens today Route Mobile, a cloud communications service provider IPO, will be open for subscription today. The company is looking to raise ₹ crore through this IPO and has fixed the price band at ₹345-350 per share. Ahead of the IPO, the company has garnered ₹180 crore from 15 anchor investors. The list includes Goldman Sachs, Franklin Templeton Mutual Fund, Kuwait Investment Authority, Vantage Equity Fund, SBI Life Insurance, Axis Mutual Fund among others.

You Searched For "lic india recruitment" and got 11 results

India’s largest insurer cuts down its paperwork and that’s helped cut its costs by 40%

Bhakti Makwana

LIC IPO anchor book — domestic mutual funds step up as most marquee foreign investors skip India’s biggest IPO yet

Bhakti Makwana

Registration closes soon: LIC India is hiring for 8000 Assistant posts at a monthly stipend of ₹14,435

BI India Bureau

LIC IPO: Analysts are concerned about the dropping market share but recommend subscribing to the IPO due to cheap valuation

Bhakti Makwana

Income tax cuts, stake sale in LIC and other highlights from Finance Minister Nirmala Sitharaman's budget speech

Sriram Iyer

India hopes that more money will bridge the infrastructure gap⁠ but many believe that may not be enough

Prabhjote Gill

Must knows before applying for an education loan

Guest Author

NPCI to hire more than 250 engineering trainees from across the country

Vaamanaa Sethi

Increasing number of Indians now prefer to permanently work from home since pandemic, says a report

IANS

The series of events that led to Ashneer Grover’s resignation from BharatPe

Kritti Bhalla

Top stocks to watch— RIL, Astrazeneca, Future Retail, Future Consumer, TeamLease, Spicejet, Asian Paints, Bharat Dynamics and more

Navdeep Yadav

Popular Keywords

Buying Guides