IPL chief seeks match referee's report on Zinta incident

Preity Zinta was visibly agitated and reacting vigorously during the strategic time out period against the controversial dismissal of Kings XI batsman Shaun Marsh last night

New Delhi: Indian Premier League chairman Rajiv Shukla on Friday said that he had sought a report from the match referee over the incident involving Kings XI Punjab owner Preity Zinta during her side's IPL match against Kolkata Knight Riders in Mohali, reports PTI.

Mr Zinta was seen visibly agitated and reacting vigorously during the strategic time out period against the controversial dismissal of Kings XI batsman Shaun Marsh last night.

Mr Shukla said that he had asked the match referee Roshan Mahanama of Sri Lanka to submit a report to him at the earliest on the incident.

"I have sought a report from the match referee on the entire issue. I will also take Preity Zinta's version on the incident," Shukla told PTI.

It all started when Shaun Marsh was ruled out in a controversial manner in the 14th over. The left-hander under edged a Brett Lee delivery to KKR wicketkeeper Manvinder Bisla, who nodded that he had taken the catch cleanly even though TV replays suggested that there was a doubt with the decision.

It took Kings XI captain Adam Gilchrist's invention to calm down the Bollywood actor after she apparently had an exchange of words with the match officials.

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Maharashtra State Co-operative Bank gets licence from RBI

The MSC Bank and 11 district central cooperative banks from Maharashtra were functioning without banking licence so far

Mumbai: The Reserve Bank of India (RBI) has issued banking license to the Maharashtra State Co-operative (MSC) Bank. “The bank obtained the license from RBI,” a senior government official told PTI.

The state government had written to the Centre to extend by two months the 31 March 2012 deadline set by the RBI for 11 District Central Co-operative Banks and the State Co-operative Bank to obtain the banking licence.

The Rakesh Mohan Committee recommendations, which have been accepted by the Union Finance Ministry, have made it mandatory for all the cooperative banks to get a licence before the deadline.

Across the country, there are 134 banks which do not have licence from RBI. If the banks are unable to get the licence before the deadline, they will have to become a cooperative credit society, or merge with another bank.

Maharashtra State Co-operative Bank and 11 district central cooperative banks were functioning without banking licence so far.

On 28 May 2012 last year, the RBI, on the recommendation of NABARD, had dissolved the board of directors of Maharashtra State Co-operative Bank, controlled by senior NCP leader and deputy Chief Minister of Maharashtra, Ajit Pawar, for financial irregularities.

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Life insurers’ new business premiums down 9.2% in FY12

Market leader LIC recorded 6% decline in first year premium collection while some private life insurers witnessed increase in new business

New Delhi: According to a data from regulator Insurance Regulatory and Development Authority (IRDA) total new business premium of life insurance companies in the country declined by 9.2% to Rs1.14 lakh crore from Rs1.25 lakh crore during the financial year FY12, PTI reports.

Market leader Life Insurance Corporation of India (LIC) recorded 6.1% decline in its first year premium collection to Rs81,514.5 crore from Rs86,444.7 crore a year ago.

LIC’s market share stood at 71% at the end of March 2012, according to the data. India has 24 public and private life insurance companies. The combined first year premium of private sector life insurers, declined 16.9% to Rs32,718.24 crore, from a year ago.

MetLife India showed a 52.7% increase in its first year premium for the period under review to Rs1,074.9 crore, from Rs703.95 crore a year ago.

DLF Pramerica witnessed a rise of 38.9% in its first year premium to Rs102.83 crore, Star Union Dai-ichi had an increase of 27.18% to Rs964.77 crore and IndiaFirst's new business premium rose by 39.38% on the year to Rs 982.31 crore.

The non-life insurers, however, showed an increase in their premium collection during 2011-12 to Rs58,344.16 crore, up 23.2% over Rs47,372.78 crore in 2010-11, the data said.

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