Cni InfoXchange has already started to create a distribution network through the franchisee route
Cni infoXchange Pvt Ltd, a subsidiary of the BSE-listed research house that focuses on the small and mid-cap segment CNI Research, has tied up with SBI for distribution of its financial products like mutual funds, debt schemes and bonds.
CNI Research is already partnering with Thomson Reuters, Capital IQ, Dow Jones, Blue Matrix, Capital Market.com and ISI Emerging Markets for providing research globally, on the Indian mid and small cap companies. These tie-ups have already made CNI Research a trusted name across the globe among the FIIs.
Cni InfoXchange has already started to create a distribution network through the franchisee route. The company expects to have over 500 points of distribution-both company owned and franchised-throughout the country in the next two years.
Kishor Ostwal, CMD, CNI Research said, "The company is already recognised as a strong research content provider in the SME segment by the global FII community. Now we want to make quality financial products easily available to the retail investors. The tie-up with SBI Ltd and the setting up of an effective distribution mechanism will ensure availability of specialised debt and equity products across the board."
The first loan camp would be organised at Badal village next week in coordination with Welfare department of the Punjab government
To provide easy loan facility to the poor residing in "Lal-Dora" (village premises) without any ownership record, the Punjab government would soon launch a state-wide drive in coordination with various banks.
A decision to this effect was taken at a meeting held by Chief Minister Parkash Singh Badal with senior officers of different banks at his residence last night, an official spokesman said. The chief minister asked the bankers to facilitate small loans for the poor people to enable them start some business for earning their livelihood.
He said they were facing lot of hardships in securing loans from banks due to non-availability of ownership records of their ancestral houses in the Lal Dora.
The bankers agreed to organise the first such loan camp at village Badal next week in coordination with Welfare department of the Punjab government.
“Compulsory insurance of the vehicle is meant for the benefit of the third parties. The liability of the owner to have compulsory insurance is only in regard to third party and not to the property,” the Supreme Court said
Insurance companies are bound to pay compensation even if the offending vehicle's ownership is transferred from the original owner to another as there is no requirement under law to go for a fresh policy, the Supreme Court has ruled.
A bench of justices Dalveer Bhandari and Deepak Verma said compulsory insurance provided under the Motor Vehicle Act was meant to provide protection for third party victims as part of social objective and there was no bar on a vehicle being driven only by the owner.
"The liability to pay compensation is based on a statutory provision. Compulsory insurance of the vehicle is meant for the benefit of the third parties. The liability of the owner to have compulsory insurance is only in regard to third party and not to the property.
"Once the vehicle is insured, the owner as well as any other person can use the vehicle with the consent of the owner. Section 146 of the Act does not provide that if any person uses the vehicle independently, a separate insurance policy should be taken," Justice Verma said writing the judgement.
The apex court passed the ruling while directing the National Insurance Company to compensate a widow Kulsum whose husband and three children were mowed down on 13 June 1998, by a mini bus belonging to a private party but hired by the UP State Road Transport Corporation.