Jan Utkarsh vehicle loan scheme
Mapusa: In view of the festive season, Jan Utkarsh Urban Co-operative Credit Society Ltd has launched ‘festival vehicle dhamaka’ scheme for purchase of two-wheelers and four-wheelers. The society will advance up to 90 per cent of the invoice price at 11 per cent rate of interest. Addressing media persons in the presence of vice chairman Dilip Mahale, directors Narayan Karekar, Govind Karekar, Rama Satlekar, Prakash Naik, Nishikanth Salgaonkar, Salim Isani and general manager Suresh Arolkar, its chairman Shrirang Nagvekar announced the new scheme to mark celebration of the festive season of Dussehra, Diwali and Christmas of its shareholders. He said that the loan repayment period is up to 84 months. Nagvekar further said that “for those customers who contribute margin money of 50 per cent and above, the rate of interest will be 10.5 per cent that is 0.50 per cent less. Normally our rate of interest for vehicle loan is 13 per cent which is reduced under the scheme that is valid up to December 31.” NT
Nippon life insurance announces integration
MUMBAI: Nippon Life Insurance, Japan’s largest Life Insurance company and a global financial services conglomerate announced the integration of Nippon India Mutual Fund (erstwhile Reliance Mutual Fund) into their global unified asset management fold, by becoming the single largest shareholder in the company. Change in Reliance Nippon Life Asset Management (RNAM) name will follow soon. Nippon Life Insurance, a 130-year-old financial services conglomerate with significant global presence has over $ 700 billion in AUM, which is more than the size of the Indian asset management industry and currently holds 75% shareholding in the company. Hiroshi Shimizu, president, Nippon Life Insurance Company said, “We believe that the core management team and the entire team at Nippon India Mutual Fund will be a key driver in the growth story. We will provide full support to expand international and alternate business by leveraging our global network».
LIC refutes fake news
PANAJI: Over the past few days some miscreants have been spreading false information and malicious rumours about LIC on WhatsApp and other social media platforms. LIC in a press release refutes such false rumours and would like to assure its policyholders about its sound financial health and urges them not to take cognizance of such misleading news. In fact, LIC has declared the highest ever bonus amounting to more than Rs 50,000 crore to its policy holders for the fiscal 2018-19. LIC’s market share as on August 31, 2019 for number of policies is 72.84% and for first year premium it is 73.06%. It is pertinent to note that LIC’s market share in first year premium has grown from 66.24% as on March 31, 2019 to 73.06% as on August 31, 2019. NT
IOC organises Walkathon at Vasco
PANAJI: To commemorate the 150th birth anniversary of Mahatma Gandhi and to realize his vision of clean India, Vasco Terminal of Indian Oil Corporation, Goa organised a walkathon of children on the theme of eradication of single-use plastic. The event was organised in association with Municipal High School, Vasco. Sub-inspector traffic police, Vasco was also present during the event. Manager, Vasco Terminal, Priyank Gupta welcomed all children along with their teachers and other dignitaries on the occasion. Chanchal Prasad, senior terminal manager of Indian Oil Corporation Ltd, Vasco Terminal had an interactive session with the students. NT