Jobless growth has found a new home - India's life insurance companies. In the last financial year, private life insurers reduced headcount by 27 per cent to achieve profitability.
Market watchers believe that the change in guidelines fly in the face of some of the recent initiatives taken by the government, such as easing norms for foreign portfolio investors.
India allows foreign investors to buy upto $81 bn
S Naren of ICICI Prudential says long-term investors needn't worry.
The International Monetary Fund on Thursday said capital control measures could be valuable for countries like Brazil and India, facing excessive short-term capital inflows that threaten to damage their economies. "Capital control are a little bit in the eye of the beholder, but it is certainly a part of the toolkit," said IMF spokesperson Caroline Atkinson at a news briefing.
The comments come within a month of the arrest of seven people, including the chief executive of LIC Housing Finance by the Central Bureau of Investigation in connection with the scandal.
'Willing to spend is different from when to spend and how much to spend'
Visa and 20 insurance companies in India have joined forces to make paying life and general insurance premiums "faster and easier" through a range of new payment options for Visa cardholders
With at least three IPOs in the offing this year, stock market investors have a lot to look forward to.
Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Attributing to people close to the situation, the Financial Times said the failed sale of AIA has strained relationships at the top levels of the US insurer and tensions are growing between Benmosche and Golub.
Corrective measures are already being taken by fund managers - overall allocation to the IT firm has been pruned by 120 basis points, from 4.43 per cent in March to 3.24 per cent in July
Following recommendations from the Deepak Parekh-headed Expert Group and taking into account comments from the public, PFRDA has categorised NPS investments into three asset classes -- E (equity), C (corporate paper) and G (government securities).
Vaidyanathan, former managing director and CEO of ICICI Prudential Life Insurance, as a sign-on bonus got 20 lakh (2 million) warrants worth Rs 47.40 crore (Rs 474 million), DNA said.
Vaidyanathan's compensation is 'a performance-linked booty'.
'Anything you buy from any Future outlet should have financing options by us'
By contrast, the fraud enabled Raju's kin and aides to make hundreds of crores, charges CBI.
Tobin Tax has immense potential when used along with complementary policies such as counter-cyclical and macro-prudential measures.
Harvard-educated Piramal is also in the boards of several companies, including Piramal Life Sciences, SBI Capital Markets Ltd and Prudential ICICI Management.
Life insurers are aggressively targeting HNIs. A look at some of the products on offer.
energy is India's binding supply-side constraint for inclusive growth.
V Vaidyanathan joins a growing list of top executives getting a sumptuous sign-on bonus
Nimesh Shah, managing director & CEO of ICICI Prudential Asset Management Company, tells Chandan Kishore Kant that he is bullish on the Indian market.
RBI moves to restrict bank exposure to corporate loans.
The provisions in the FRDI bill do not modify current protections for depositors adversely at all, the ministry held, maintaining that these rather provide additional protections in a more transparent manner.
Executive Director V Vaidyanathan will assume the position of managing director and chief executive officer of the bank's life insurance arm, ICICI Prudential. This slot had fallen vacant as Shikha Sharma decided to move to Axis Bank.
Shikha Sharma's contentious appointment as CEO of Axis Bank doesn't detract from her sound reputation in the financial world.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
As many as 56 firms collectively mopped up Rs 17,283 crores through IPOs during the April-September period of 2016-17.
The Tatas will have to either buy out the 26 per cent stake in its life insurance joint venture or rope in another partner if Prudential UK buys out the Asian life insurance business of American International Group (AIG).
In a career spanning over 29 years, Sharma has had a wide exposure across the entire spectrum of financial services and has held several leadership positions across various market-leading businesses, the bank said in a statement. Axis Bank is the third-largest private sector bank in India and its network spans across more than 840 offices and over 3,600 ATMs.
To present revival plan to board; Naik meets PMO official.
For instance, new fund offers of ICICI Prudential, Tata Mutual Fund and Fortis are on, while Religare, HDFC and Principal PNB have applied for launching NFOs.
If FIIs come in looking for higher returns, this will help turn India Incs fortunes but a reform-oriented government is critical, says Nilesh Shah.
To get back equity-wary investors, fund houses and their portfolio management services (PMS) have started schemes that will regularly book profits. In these funds, mutual funds and PMS will realise appreciation at specific target returns and transfer profits either to a safer investment avenue or give the money back to the customer.
The move, a part of the new set of prudential norms being discussed by financial sector regulators across the globe in the wake of the credit crisis, was being discussed in view of the reputational risk arising from undertaking such activities, RBI said in its annual report for 2008-09.
'Markets are back in the 15000-16000 range, it's a barometer of confidence as much as it is of economic prospects.'
The Reserve Bank of India (RBI) is considering options to make cheaper finance available to the non-banking finance companies (NBFCs), including a separate line of credit for bank finance backed by government securities or AAA-rated commercial paper (CP).
The investors, which include ICICI Venture, Azim Premji and ICICI Prudential, say that they do not hold more than 38 per cent in the retail company and do not have the requisite shareholding to amend the articles. ICICI Venture, which alone holds 23 per cent stake in Subhiksha, had earlier rubbished claims made by Subramanian that the private equity company 'controls' Subhiksha by virtue of its right to appoint a majority of the directors in the company.
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