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Indian Bank gains after board approves divesting ASREC stake


Indian Bank rose 1.15% to Rs 140.75 after the bank said its board accorded in-principal approval for partial or full disinvestment of bank s stake in joint venture, ASREC (India).The bank holds a 38.26% stake in ASREC (India) and the decision to divest stake is part of monetisation of the bank s non- core assets.
Apart from Indian Bank, LIC of India, Bank of India, Union Bank of India and Deutsche Bank are the other shareholders in the company.
ASREC (India) acquires non performing assets (NPAs) from the banks/financial institutions at mutually agreed prices with the objective is to maximise the returns through innovative resolutions strategies. ASREC positions itself as the multi lender ARC in the public sector aiming to earn the confidence of the financial system in the effective resolution of NPAs by operating in transparent manner with flexibility of the private sector. ....

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The distress sale of national assets is unwise


The distress sale of national assets is unwise
Updated:
Updated:
March 04, 2021 12:45 IST
The government’s intent to offload public sector units and banks will only result in the long-term loss of public wealth
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The government’s intent to offload public sector units and banks will only result in the long-term loss of public wealth
The origin of the ongoing crisis in the Indian economy was the fateful night of November 8, 2016. Dr. Manmohan Singh’s prescient words in Parliament that demonetisation would lead to a 2% drop in the GDP were not heeded by Prime Minister Narendra Modi. On the contrary, a badly designed and hastily implemented flawed Goods and Services Tax (GST) followed, further devastating vast numbers of medium and small enterprises, as well as the vast informal sector of the economy. Together, these twin disasters robbed millions of their livelihoods and plunged the Indian economy into a prolonged slump tha ....

India General , Narendra Modi , Manmohan Singh , Sonia Gandhi , Gross Npas , Industrial Development Bank , National Democratic Alliance , Hindustan Petroleum Corporation Limited , Videsh Sanchar Nigam Limited , United Progressive Alliance , Natural Gas Corporation , Services Tax , Life Insurance Corporation , Indian National Congress , Prime Minister Narendra , Initial Public Offer , Yes Bank , Reserve Bank , Prime Minister , Indian National , Crisis In The Indian Economy , Dr Manmohan Singh , Prime Minister Narendra Modi , Goods And Services Tax , Medium And Small Enterprises , Informal Sector Of The Economy ,

LIC's Jeevan Umang plan: Check benefits, other details of this policy


Highlights
Jeevan Umang plan offers income and protection.
Annual survival benefits.
New Delhi: Insurance behemoth Life Insurance Corporation of India (LIC) comes out with various types of insurance policies suiting individual needs and preference.
Life Insurance Corporation of India’s Jeevan Umang plan offers a combination of income and protection to your family. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term.
Eligibility Conditions and Other Restriction of LIC’s Jeevan Umang plan ....

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