Companies & Sectors
IndiaFirst Life opens financial planning centre in Jaipur

“Our Financial Planning Centres not only enable customers to buy policies but also help us service their requests more easily and quickly,” IndiaFirst Life Insurance managing director and CEO P Nandagopal said

Mumbai: Private insurer IndiaFirst Life Insurance opened a financial planning centre (FPC) in Jaipur aimed at offering the entire range of services, including new business application processing, reports PTI.

 

“Rajasthan is a key market for IndiaFirst. Opening our FPC in Jaipur is a part of our long-term strategy to ramp up our presence in tier II and tier III cities. Our financial planning centres not only enable customers to buy policies but also help us service their requests more easily and quickly,” IndiaFirst Life Insurance managing director and CEO P Nandagopal said in a release.

 

The company will offer its entire range of services, including new business application processing, policy servicing request processing, advisor licensing processing, advisor or sales training, claim intimation processing and document collection and record management, for business applications in FPC.

 

IndiaFirst Life Insurance is a joint venture between public sector banks—Bank of Baroda and Andhra Bank—and UK’s leading risk, wealth and investment company Legal & General.

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Bank of India raises bulk deposit rates for select maturities

The new rates would be applicable from 27 December 2012

New Delhi: State-owned  Bank of India revised upwards the interest rates on deposits of Rs10 crore and above for select maturities, reports PTI.

 

“...has informed BSE that the Bank has revised the interest rate for the deposit of Rs10 crore and above for the time bucket of one year and above to less than one years to 9% (earlier 8.75%),” Bank of India said in a filing to BSE.

 

The new rates would be applicable from 27 December 2012, it added.

 

Recently, Federal Bank and Dena Bank also revised upwards deposit rates for select maturities.

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COMMENTS

Anshuk

4 years ago

Rs 10 crore and above.. this should not be under personal finance. :)

Government notifies MCX-SX as recognised stock exchange

MCX-SX has already got an approval from SEBI to function as a full-fledged stock exchange

New Delhi: The government has notified the country’s newest bourse MCX-SX (MCX Stock Exchange)as a recognised stock exchange, paving the way for initial public offers, listing and trading of shares its platform, reports PTI.

 

MCX-SX has already got an approval from SEBI (Securities and Exchange Board of India) to function as a full-fledged stock exchange.

 

MCX-SX has been now notified as a “recognised stock exchange” by the ministry of corporate affairs (MCA), which would allow the bourse to list a company on its platform pursuant to an IPO and offer book building, besides other facilities for the public offers and trading of shares.

 

The government notification as a “recognised stock exchange” is also necessary for any investment in shares of a company listed on its platform to be treated as “quoted investment”. Besides, there are various other procedural benefits that a company gets after being listed on a recognised stock exchange.

 

MCX-SX is preparing to begin live trading in various asset classes, including equity and equity derivatives, on its platform as it has got all the necessary approvals from SEBI.

 

Earlier on 19 December 2012, it got the “commencement certificate” from SEBI, which was the final regulatory clearance to go live in new product segments such as equity, wholesale debt (bonds) and interest rate derivatives.

 

The much-talked about trading launch of MCX-SX, the third full-fledged equity exchange in the country, is likely to begin in January 2013.

 

MCX-SX is currently providing trading platform for only currency derivatives segment and would become a full-fledged stock exchange after launch of other segments like equity, equity derivatives, bonds and interest rate derivatives.

 

After going live, MCX-SX would compete with other full- fledged nationwide stock exchanges like the NSE and BSE.

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