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<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword>' 2024 annual report revealed that <keyword id="20671686" type="General" weightage="100" keywordseo="JioBharat" source="keywords">JioBharat</keyword>, an affordable keypad smartphone, has achieved an impressive 50 per cent <keyword id="20038792" type="General" weightage="20" keywordseo="market-share" source="keywords">market share</keyword> in the <keyword id="3342432" type="General" weightage="20" keywordseo="sub-rs-1" source="Orion">sub-Rs 1</keyword>,000 segment. Launched with the mission to empower every Indian with digital services, JioBharat has marked a significant step towards digital freedom for the 250 million feature phone users in India, bridging the digital divide like never before. Since its launch a year ago, JioBharat has been transforming lives by offering features and digital capabilities such as UPI, JioCinema, and JioTV, enabling various segments of society to achieve more. This affordable device not only empowers users with smartphone capabilities but also provides high-quality and affordable data, making it accessible to the common people. Despite the recent industry-wide tariff increases, <keyword id="2003276" type="General" weightage="20" keywordseo="Jio" source="Orion">Jio</keyword> has maintained consistent pricing for JioBharat, allowing users to enjoy full digital capabilities at just Rs 123 per month. In contrast, the most affordable plans from other operators start at Rs 199 per month and enables access to limited functionality, restricted to voice and SMS services, as their feature phones do not support data or LTE usage. In his letter to shareholders, <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, Chairman of Reliance Industries Ltd, stated, "The launch of the JioBharat phone is another revolutionary step towards bridging the country's digital divide. A smartphone at the price of a feature phone, the JioBharat phone will go a long way in realizing a 2G-mukt Bharat." In 2016, when Jio was launched, it left no stone unturned to democratise internet access and pass the benefits of technology to every Indian. With affordable high-speed data and a ubiquitous network, technology was no longer a privilege for a select few. The subsequent launch of affordable devices like <keyword id="22711694" type="General" weightage="20" keywordseo="jiophone" source="keywords">JioPhone</keyword> and the availability of affordable wired broadband (<keyword id="20282548" type="General" weightage="20" keywordseo="jiofiber" source="keywords">JioFiber</keyword>) has truly democratised data connectivity. "With the launch of Jio 4G in 2016, we set out on a journey to make digital inclusion in India a reality. Jio turned a Data Dark India into a Data Rich nation, supplying every Indian home with affordable, high-speed 4G data. And this year, Jio has further enhanced the country's digital infrastructure by rolling out its True5G network across India in world-record time," states Mukesh Ambani's letter to shareholders in the latest annual report released on Thursday.

JioBharat captures 50% market share in sub-Rs 1,000 segment: Reliance annual report

<keyword id="6391022" type="ORGANIZATION" weightage="100" keywordseo="Insurance-Regulatory-and-Development-Authority">Insurance Regulatory and Development Authority</keyword>, the insurance regulator of the country, said today that the final regulations for commission of insurance brokers will most likely be released by next month. 
 "A sub-committee has been formed which will decide on the quantum of cap on commission... though the cap on commission and other remunerations for insurance brokers cannot be removed," said IRDAI Chairman <keyword id="484854" type="PERSON" weightage="100" keywordseo="T-S-Vijayan">T S Vijayan</keyword>. 
 
"...discussion is a continuous process... sub-committee is discussing all this. I hope to bring the final regulation by March," he said on being asked if IRDAI was ready to discuss the quantum of cap with the brokers. 
 Vijayan was in Hyderabad to release the report 'Vision 2025: Broker-Driving customer centric growth' at the 12th annual summit of <keyword id="3240207" type="UNKNOWN" weightage="100" keywordseo="Insurance-Brokers-Association-of-India">Insurance Brokers' Association of India</keyword> (<keyword id="2049953" type="ORGANIZATION" weightage="100" keywordseo="IBAI">IBAI</keyword>). The report was published in association with Ernst &amp; Young. 
 "We have requested that lthe market forces decide what should be the remuneration depending on the value each market participant is adding," said IBAI president <keyword id="6439101" type="PERSON" weightage="100" keywordseo="Sanjay-Kedia">Sanjay Kedia</keyword>. 
 
As per the estimates of the report, the broking channel had the potential to contribute 40% of the gross direct premium in the non-life insurance business and 1.6% of the new business premium in the life insurance business in the coming years. 
 
"The brokers share of the total non-life insurance market is 27 per cent at around Rs 20,000 crore and is expected go to Rs 1,60,000 crore," Kedia added. 
 
As per the report, the total premium was Rs 83,048 crore in the non-life segment in FY15, and if progressive actions are taken, this is likely to rise to Rs 4,00,000 crore in FY25. 
 
Similarly, for the life insurance segment, a new business premium at Rs 1,13,327 crore in FY15 can rise to Rs 4,60,000 crore in the coming ten years. The non-life insurance segment will grow at 13 to 17% CAGR in the next 10 years, while the life insurance market will increase 11 to 15% in the same period. 
 
"…the need of the hour is to keep pace with the changing times, environment, economy and tune the responses to the best of the people, society and everyone else," Vijayan added. 
 
<a href="http://www.roblesins.com/wp-content/uploads/2015/04/dreamstime_m_10879387.jpg">Image source</a>

Commission of insurance workers likely to be regulated in March

New Delhi, Mar 17 () Over 90 per cent of the gross bad loans in the books of troubled Yes Bank were added during the first nine months of the current fiscal, with sour debt swelling by Rs 36,763.76 crore during April-December 2019. Yes Bank last week posted the highest-ever loss reported by any private sector bank at Rs 18,560 crore for the third quarter of 2019-20, as huge provisioning for bad loans hit profitability. The bank's gross bad loans by the end of the December quarter swelled to a staggering Rs 40,709.20 crore. The bank made provisioning of Rs 29,594 crore for these bad assets. At the beginning of the fiscal on April 1, the bank's opening balance of gross NPAs stood at Rs 7,882.56 crore, as per the bank's 'Disclosures under the Basel III Capital Regulations'. Fresh bad loan additions soared Rs 36,763.76 crore during April-December 2019. Recoveries of sour assets were at a meagre Rs 3,937.12 crore during the period. Yes Bank's CEO-designate Prashant Kumar has said the private sector lender will continue to feel pressure from its bad assets in the next fiscal year as well. Of the gross bad loans on the books of Yes Bank at end of December 2019, the bulk of loans -- Rs 30,447.97 crore -- were categorised as sub-standard, meaning the payments towards principal and interest remained irregular or overdue for more than 90 days and were classified as bad for a period of 12 months from the date of NPA classification. Loans of over Rs 9,300 crore were in the doubtful category, with Rs 7,904.49 crore falling into 'doubtful 1' list, Rs 829.07 crore 'doubtful 2' and Rs 573.75 crore classified as 'doubtful 3'. Doubtful assets are bad loans that remain sub-standard for a period of more than 12 months. The rest Rs 953.92 crore loans were in the 'loss' category. Loss category loans are identified as uncollectible, considered to be of little value as their continuance as a bankable asset is not warranted even if there may be some salvage or recovery value. Standard assets are the performing assets/loans wherein the principal and interest payments are regular. The bank witnessed withdrawals of over Rs 72,000 crore of deposits in the last six months. The Reserve Bank had on March 5 superseded the board of Yes Bank due to its poor financial health and restricted withdrawals at Rs 50,000 per account. KPM KPM ABMABM

Yes Bank added over 90 pc of gross bad loans during nine months ended Dec 2019

New Delhi, Jul 3 () PTC India Financial Services Ltd (PFS) on Friday said it has secured a Rs 300 crore term loan from State Bank of India, to meet its business growth needs. The money will be utilised for further strengthen the cash flow of the company and for onward funding to sustainable infrastructure finance projects, PFS said in a release. SBI has sanctioned us a term loan - working capital augmentation (TLWC) of Rs 300 crore with a door-to-door tenor of three years, including a moratorium of six months, with sub-limit of Rs 300 crore as investment limit for investment in commercial papers/non-convertible debentures/bonds within the overall TLWC limit, it said in a release. SBI has already given credit lines of Rs 1,400 crore to the company and now with current sanction their exposure will increase to Rs 1,700 crore and it will further diversify company's sources of borrowings, PFS said. PFS proposes to have further alternate sources of financing like ECB, commercial paper, bonds, etc for which advance progress has already been made. KPM MKJ

PFS secures Rs 300-cr term loan from SBI to fund biz plans

<keyword id="46756" type="ORGANIZATION" weightage="100" keywordseo="FII">FII</keyword> inflow hit seven-month low in September as foreign investors invested just Rs 5,100 crore in Indian equity markets. 
 
Foreign investors were gross buyers of equities worth Rs 93,493 crore last month, while they sold shares worth Rs 88,391 crore. This is the lowest net investment by foreign investors in equity markets since February 2014 when they had pumped in Rs 1,404 crore. 
 As per market analysts, the government's decision to put off gas price hike and the <keyword id="6354977" type="ORGANIZATION" weightage="60" keywordseo="Supreme-Court">Supreme Court</keyword>'s order to cancel the allocation of <keyword id="122769" type="UNKNOWN" weightage="60" keywordseo="coal-blocks">coal blocks</keyword> led to the sale of shares. However, they added that foreign investors are still optimistic about the Indian equity market. 
 
Overseas investors (Foreign Institutional Investors, sub-accounts or foreign portfolio investors) continued to bet on the debt market and infused almost Rs 16,000 crore ($2.6 billion) in this segment. 
Image: Thinkstock

Foreign Investment In
Equities Reaches 7-month Low Of Rs 5,100 Crore In September

Just when 3G has started finding its feet in India, <keyword id="13722" type="CITY" weightage="20" keywordseo="Lenovo">Lenovo</keyword> has unleashed its cheapest ever <keyword id="122479" type="COMPANY" weightage="20" keywordseo="4G">4G</keyword> <keyword id="28168" type="TECHNOLOGY" weightage="20" keywordseo="Smartphone">smartphone</keyword> in the country, Lenovo A6000. Priced at Rs 6,999, the device will be available exclusively on Flipkart, just like its Vibe X and Z series. At this price point, Lenovo’s giving Xiaomi, Asus and Motorola (among others) a tough run for its money; thereby, giving consumers plenty of options to choose from. 
 
Lenovo A6000 plays more on the price factor, rather than competing with the might of Xiaomi and Yu, who have managed to offer exceptional value-for-money hardware at sub Rs 10k price point. Lenovo A6000 sports a 5-inch HD display which is smaller than Xiaomi and Yu devices, but in comparison to products in the sub Rs 7kK range that’s quite an impressive quality made available. 
 
Lenovo has taken utmost interest in making sure that the phone manages to find takers for its sheer looks and figurine with 8.2mm thickness and weighing a mere 128 grams, making it one of the lightest phone in the budget segment. 
 
The company has chosen 64-bit Snapdragon 410 chipset for the A6000 clocked at 1.2GHz that is basically the 4G supported successor to the very popular Snapdragon 400 SoC. On the memory front, Lenovo has opted for 1GB RAM, offering 8 GB storage which is expandable up to 32 GB via microSD slot. Competing straight head with the popular Xiaomi Redmi 1S and Motorola Moto E, Lenovo A6000 comes fitted with an 8MP rear snapper and 2MP front camera as well. 
 
The smaller sized phone, however seems to have to gotten the battery size right as this smartphone comes with a 2,300 mAh unit that should make day-to-day usage very convenient. To buy the Lenovo A6000 you will have to register yourself on Flipkart and you can do that starting from later today going up to 26 January. And from there on, Flipkart will sell the phone ( to registered users only) on January 28. 
 
It's hard to complain about the product, its pricing and the overall value proposition but it'll be interesting to see if the phone will be available normally or the dreaded flash-sale model.

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