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OMC under-recoveries at Rs 45,478 cr, says Deora
Public sector oil marketing companies(OMCs) are projected to incur under-recoveries of Rs 45,478 crore on retail sale of petrol, diesel, domestic cooking gas and kerosene during 2009-10, based on the refinery gate prices in the first fortnight of December. http://smallpersonalloans.org.uk

Markets extend losses on Asian cues
After a weak opening today, the Indian markets have extended losses on subdued cues from Asian peers. The Sensex has dropped further to a low of 16,706 - down 160 points from the day"s high. The index is now down 134 points at 16,726.

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FMC rejects USE's 10% stake buy in Indiabulls-MMTC bourse
Indiabulls-MMTC promoted International Multi-Commodities Exchange is looking for another investor after the markets regulator FMC rejected the United Stock Exchange of India"s (USE"s) 10 per cent stake buy in the bourse, sources said.
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Rel Life Insurance launches two new products

Anil Dhirubhai Ambani Group firm Reliance Life Insurance today launched two new products -- Jan Samriddhi Plan and Super InvestAssure Plan here and aims to garner Rs 600 crore premium from them within this fiscal. - A Bolly-good show for Indian cinema - 2009: Deora presides over fall of oil sector, its men - Ambani gas row dominates SC in 2009 - Hello brother - 1,200-Mw Rosa project starts in UP - R-Power to generate over 3,300 Mw by 2012 Jan Samriddhi Plan, which is targeted at the rural population, will have premium instalments of Rs 50 per month and will offer guaranteed returns along with accidental cover and maturity benefits. Available to a group of a minimum 5,000 members, its minimum annualised premium will be Rs 5,000, while maximum limit will be at Rs 10,000. "We plan to target Rs 100 crore premium from Jan Samriddhi this fiscal itself and will be forging partnerships with NGOs, cooperative societies and banks to reach out to the targeted population," company President Malay Ghosh told reporters here today. Super InvestAssure is a regular premium scheme, which has been designed to meet regular savings, protection and income needs of customers with a risk-averse profile. "The product (Super InvestAssure) allows flexibility of top-up payments incremental to the premium under the base plan and liquidity through loan facility and partial withdrawal," he said, adding that the company is aiming to collect Rs 500 crore premium from this plan within this fiscal. With annual premium of Rs 5,000, this plan will reward insured people in terms of guaranteed contributions up to 250 per cent from the company, in addition to earning growth, he said. Reliance Life Insurance, which is part of Reliance Capital, has collected a renewal premium of Rs 1,300 crore till November last and has 5.5 million policy-holders. The company currently manages funds to the tune of Rs 10,900 crore and is aiming to emerge among top three and most profitable life insurance company in India by 2012.


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