Bhavtosh Vajpayee will be based in Mumbai and will report to Mike Di Iorio, head of equities–Asia Pacific
Barclays Capital, the investment banking unit of Barclays Bank PLC, said that it has appointed Bhavtosh Vajpayee as the managing director, head of equities-India.
Mr Vajpayee will be responsible for leading and developing Barclays Capital's India equity research, sales and trading business. He will be based in Mumbai and will report to Mike Di Iorio, head of equities-Asia Pacific.
Mr Vajpayee joins Barclays Capital from CLSA where he worked for the previous 10-year and was most recently head of technology research. Mr Vajpayee was previously the #1 ranked technology (software and IT Services) analyst in the All-Asia Institutional Investor Research Survey in 2008, 2009 and 2010. Prior to CLSA Mr Vajpayee worked in the corporate finance business at JM Morgan Stanley.
Mike Di Iorio said: "Bhavtosh's expertise will provide great impetus to the development of our equities business in India. We are on track with our stated ambition to provide our clients with a top ranked global equities platform. The continued development of Barclays Capital's Asia Pacific Equities franchise is central to completing this aim which is why we will continue to invest in the best talent and technology to establish leading equities businesses in the major Asia Pacific markets. By the end of 2011 we expect to have established fully operational equities sales, trading and research businesses in India, Taiwan and Korea alongside our existing equities hubs in Hong Kong and Japan."
HDFC Life Insurance was ranked first in the insurance category for the second consecutive year and was 40th in the Top 50 Best Companies to work in India 2011 list
HDFC Life Insurance has been adjudged as one of the 'Best Companies to Work' in India this year for the second consecutive year in a study conducted by Great Place to Work Institute.
As per the study, HDFC Life Insurance was ranked first in the insurance category for the second consecutive year and was 40th in the Top 50 Best Companies to work in India 2011 list, a company statement said.
"Best Companies to Work is a prestigious award and I am very proud of what we have achieved. Becoming an employer of choice is one of our objectives...", HDFC Life human resources and administration, executive vice-president Rajendra Ghag said.
The study conducted by Great Place to Work Institute is the eighth study in India and more than 470 companies participated in it, the statement said.
“The licensed TPAs cannot enter arrangements for servicing health schemes promoted, sponsored or approved by any non-insurance body during the subsistence of the TPA license granted by IRDA,” the regulator said
Insurance Regulatory and Development Authority (IRDA) is proposing to ban third party administrators (TPAs) from operating as intermediary for the government sponsored health insurance schemes.
"The licensed TPAs cannot enter into arrangements for servicing health schemes promoted, sponsored or approved by any non-insurance body including central, state, local governments, firms, corporates during the subsistence of the TPA license granted by the IRDA," the regulator said in a draft circular, on which it has invited comments.
The IRDA had in 2005 allowed TPA to act for government sponsored schemes, but since then there has been an exponential growth in the health insurance industry.
The gross written premium of health insurance in India has increased to about Rs11,145 crore at the end of 31 March 2011, from Rs1,535 crore in end-2005.
"Given the growth of the health insurance sector it is important that the systems in place for servicing the health insurance should be dynamic and effective in order to ensure the orderly growth of the health insurance business in India," the draft said. The circular said that with respect to existing contracts that any TPA is servicing with the government, such contracts would be continued till expiry of the period, without further renewal.
"All insurance companies are directed to ensure that the TPA with whom they seek to enter into an agreement to render 'Health Service' do not have any similar arrangement... for servicing parties other than insurance companies...," it said.