Friday 17 November 2017

Reliance General Insurance enters into multiyear “Bancassurance” tie-up with YES Bank


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Non-life Insurer, Reliance General Insurance Co. Ltd (RGI), a subsidiary of Reliance Capital has inked a comprehensive Bancassurance tie-up (A corporate Agency agreement) with YES BANK with the aim to distribute multiple general insurance products to the YES BANK customers, further expanding its distribution network.

This is the first tie-up signed by the bank since the open-architecture norms under the Corporate Agency regulations were introduced by IRDAI in April 2016. With this alliance, Yes Bank remains committed to leveraging its Pan-India branch network to capitalize on the vast opportunities in the Indian bancassurance market.


The bancassurance channel is expected to have potential to reach out to the last mile and serve untapped markets, thus promoting the insurance penetration in India. 

Thursday 16 November 2017

Govt takes away restrictions on export of pulses


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The govt on Thursday removed the restrictions on export of all varieties of pulses such as tur, urad and moong dal etc to help farmers get remunerative prices for their produce.  However, exports of these kinds of pulses can be undertaken after taking permission from agri-export promotion body APEDA.     
Presently, only the organic pulses and Kabuli chana are permitted to be shipped in a limited quantity.   The Directorate General of Foreign Trade (DGFT) in its notification said, that it has removed prohibition on export of tur, urad and mung dal until further orders. The ban on these varieties has been lifted with immediate effect. The notification added that exports should be made through customs electronic data interchange.

The move will improve the returns to farmers and potentially open up greater investments in the sector. The country's pulses production has touched a record of 22.4 mln ton in 2016-17 crop year as against 16.35 mln ton in the previous year through encouragement from the government.

HDFC Standard Life to make stock market debut tomorrow


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Having been recently concluded an IPO worth Rs 8,695-crore, the HDFC Standard Life Insurance Company, makes its debut on stock exchanges tomorrow, 17 November 2017. The shares will be enlisted both on the BSE and NSE.

The IPO, which was open for subscription on 7 to 9 November, has been subscribed 4.89 times at a price band of Rs. 275-290 per share.

The public issue included sale of 191,246,050 shares, amounting to 9.55 percent stake, by HDFC and up to 1,08,581,768 shares, by Standard Life Mauritius.


HDFC Standard Life Insurance Co is one of the top-three life insurers in India by market share in new business premium, as well as the most profitable life insurers based on value of new business margins and among the top five private life insurers in India.

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