Paytm launches two more firms to enter insurance sector, boost fintech biz
Posted on 23rd February 2018 |
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| On a rapid expansion mode mobile fintech major Paytm has launched two more firms with an aim to enter the insurance sector in the country. This move has taken its total count of companies to six. According to documents filed with Registrar of Companies (RoC) which were sourced from data intelligence platform Paper.vc, the Vijay Shekhar Sharma-led firm has started Paytm Life Insurance Corporation Limited as well as Paytm General Insurance Corporation Limited. Both the companies have Sharma as one of the directors. While Paytm did not comment on the RoC filing, sources said that these two companies would be used to sell its insurance products, an area where the company is planning major expansion. The fintech major has not made any announcements on who would be heading these companies as of now. In January this year, Paytm announced that it has set up Paytm Money Limited, a wholly owned subsidiary of One97 Communications (the company that owns the brand Paytm) to build investment and wealth management products for its users. One97 Communications in all now have six companies under its umbrella including Paytm, Paytm Money, Paytm Mall and Paytm Payments Bank. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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