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One of the largest public sector banks – State Bank of India (SBI) – has re-launched the gold deposit scheme with an aim of bringing into circulation the privately held stock of gold to reduce India’s dependence on imported gold due to the rising cost of gold imports. This scheme, first launched in November 1999, … Read more SBI re-launches gold deposit scheme – Highly Unttractive Interest Rates
India’s largest insurer – Life Insurance Corporation of India (LIC) – has invested around Rs 40,000 crore in equity this fiscal, exceeding the total equity investments made in the last financial year. Every year LIC invests around 8-9% of its total premium collection in the stock markets, majority being in the banking sector. This year … Read more LIC parks Rs 40,000 cr in equity this fiscal
ICRA Techno Analytics mc, a wholly owned subsidiary of ICRA Techno Analytics (ICTEAS) operating from Kolkata, has acquired 100% stake in Sapphire International Inc., a Delaware Corporation based out of Trumbull, Connecticut, USA. Sapphire, a Microsoft Gold Partner, is in the business of providing IT solutions to government agencies and large corporations in the US … Read more ICRA’s subsidiary acquires Sapphire International of USA
Titan Eye, a subsidiary of Titan Industries, has inaugurated its first showroom in Kochi, Kerala. With this, the company now has 63 stores across various locations in the country. The company is planning to roll out four to five stores a month across India. Of this 6-7 stores would be set up in the state … Read more Titan Eye + Plus opens new store in Kochi
Copper purchases by China to boost stockpiles may flip the global market from surplus into deficit this year, boosting prices already underpinned by stimulus spending, according to China International Capital Corp. China’s State Reserve Bureau may raise purchases to 1 million metric tonnes from 600,000 tonnes. The purchases “would easily turn a global surplus of … Read more China copper purchases may trigger deficit: CICC
The General Insurance Council (GIC) has drafted a common portable mediclaim policy which states that a customer cannot continue the benefits if he migrates from a common portable mediclaim to another health insurance product. The policy, currently awaiting clearance from the Insurance Regulatory and Development Authority (IRDA), also states that the insured cannot continue the … Read more GIC to introduce portable health insurance policy