Reliance Nippon Life Insurance acknowledged as one of the Best Insurance Companies to Work for in 2021 business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Total consolidated income rose to Rs 5,163 crore in the quarter from Rs 3,780 crore in the year-ago quarter, Reliance Capital said in a regulatory filing
Results: Reliance Capital Q4 loss narrows to Rs 1,649 crore
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Reliance Capital, a part of debt-ridden Anil Ambani-promoted Reliance Group, on Saturday reported narrowing of its consolidated net loss to Rs 1,649 crore in the fourth quarter ended March 2021.
The company had posted a net loss of Rs 2,179 crore in the January-March quarter of the last fiscal.
Total consolidated income rose to Rs 5,163 crore in the quarter from Rs 3,780 crore in the year-ago quarter, Reliance Capital said in a regulatory filing. Total expenses also rose to Rs 6,564 crore as against Rs 5,846 crore in the corresponding quarter of last year.
On a standalone basis, the company posted a loss of Rs 3,865 crore as against Rs 2,501 crore at the end of same quarter a year ago.
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Last Updated: Feb 02, 2021, 08:36 AM IST
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Industry CEOs and experts claim that the move will provide a fillip to an industry that needs more finances to insure more people in the world’s second-most populous nation and raise funds for long-gestation projects such as ports, road assets and aviation hubs.
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The FDI cap on insurance companies was first raised from 26 per cent to 49 per cent in March 2016.
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Five years after India increased the ceiling on overseas ownership in the insurance sector, finance minister Nirmala Sitharaman on Monday heralded bold reforms in a sector considered crucial for underpinning infrastructure financing.
Government s move to relax FDI limit for insurance a big boost for small insurers
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After years of deliberation, the Indian government has increased the Foreign Direct Investment (FDI) limit in insurance companies to 74% against the current 49%, Finance Minister Nirmala Sitharaman announced on Monday in the Union Budget of 21-22 albeit some “safeguards”.
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Experts anticipate more of the country s 23 private life insurers and 28 private general and health insurers to contribute to the growth of the sector with more impact.
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MUMBAI: Five years after India increased the ceiling on overseas ownership in its insurers, Finance Minister Nirmala Sitharaman Monday heralded bold reforms in a sector considered crucial for underpinning infrastructure financing. She raised the headroom on foreign holding to 74% in one go, potentially multiplying fund-raising avenues in a long-gestation industry that needs as much capital as is available.