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UTI Bank
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It sells financial services to large and mid-size companies, SMEs and retail businesses. As of 30 June 2016, 30.81% shares are owned by the promoters and the promoter group ( United India Insurance Company Limited, Oriental Insurance Company Limited, National Insurance Company Limited, New India Assurance Company Ltd, GIC, LIC and UTI). The remaining 69.19% shares are owned by mutual funds, FIIs, banks, insurance companies, corporate bodies and individual investors. History The bank was founded on 3 December 1993 as UTI Bank, opening its registered office in Ahmedabad and a corporate office in Mumbai. The bank was promoted jointly by the Administrator of the Unit Trust of India (UTI), Life Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India Assurance Company, Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privately Held Company
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is offered, owned, traded, exchanged privately, or over-the-counter. In the case of a closed corporation, there are a relatively small number of shareholders or company members. Related terms are closely-held corporation, unquoted company, and unlisted company. Though less visible than their publicly traded counterparts, private companies have major importance in the world's economy. In 2008, the 441 largest private companies in the United States accounted for ($1.8 trillion) in revenues and employed 6.2 million people, according to ''Forbes''. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on '' Forbes'' survey of closely held U.S. businesses sold a trillion dollars' worth of goods and service ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chairperson
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group, presides over meetings of the group, and conducts the group's business in an orderly fashion. In some organizations, the chairperson is also known as ''president'' (or other title). In others, where a board appoints a president (or other title), the two terms are used for distinct positions. Also, the chairman term may be used in a neutral manner not directly implying the gender of the holder. Terminology Terms for the office and its holder include ''chair'', ''chairperson'', ''chairman'', ''chairwoman'', ''convenor'', ''facilitator'', '' moderator'', ''president'', and ''presiding officer''. The chairperson of a parliamentary chamber is often called the ''speaker''. ''Chair'' has been used to refer to a seat or office of authority ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Trust Of India
UTI Mutual Fund was carved out of the erstwhile Unit Trust of India (UTI) as a Securities and Exchange Board of India (SEBI) registered mutual fund from 1 February 2003. The Unit Trust of India Act 1963 was repealed, paving way for the bifurcation of UTI into: Specified Undertaking of Unit Trust of India (SUUTI) and UTI Mutual Fund (UTIMF). T Rowe Price Group Inc T. Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, subadvisory services, separate account management, and retirement plans and services for individuals, institutions, and financial inter ... (TRP Group), through its wholly owned subsidiary T. Rowe Price Global Investment Services Ltd. (TRP), has acquired a 26% stake in UTI Asset Management Company Limited (UTI AMC). UTI Mutual Fund is the oldest and one of the largest mutual funds in India with over 10 million investor accounts under its 230 domestic schemes/plans as of September 2017. UTI Mutual Fund ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance Corporation Of India
Life Insurance Corporation of India (LIC) is an Indian central public sector undertaking headquartered in Mumbai, Maharashtra, India. It is under the ownership of Ministry of Finance, Government of India. The Life Insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act, nationalizing the insurance industry in India. Over 245 insurance companies and provident societies were merged together.https://www.licindia.in/getattachment/Bottom-Links/annual-report/LIC-Annual-Report-2015-16.pdf.aspx LIC reported 290 million policyholders as of 2019, a total life fund of ₹28.3 trillion and a total value of sold policies in the year 2018–19 of ₹21.4 million. The company also reported to have settled 26 million claims in 2018–19. It ranked 98th on the 2022 Fortune Global 500 list with a revenue of and a profit of . History Founding organisations The Oriental Life Insurance Company, the first c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Insurance Company Limited
National Insurance Company Limited (NICL) is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It is headquartered at Kolkata and was established in 1906 by Gordhandas Dutia and Jeevan Das Dutia. National Insurance company and Asian Insurance company was nationalised in 1972. Its portfolio consists of a multitude of general insurance policies, offered to a wide arena of clients encompassing different sectors of the economy. Apart from being a leading insurance provider in India, NICL also serves in Nepal. History After nationalisation in 1972, NICL operated as a subsidiary of General Insurance Corporation of India (GIC). National Insurance Company Limited was spun off as a distinct company under the ''General Insurance Business (Nationalisation) Amendment Act'' in 2002. In April 2004, NIC signed an agreement with Nainital Bank for distribution of its general insurance products through the bank's branches in Uttarakhand, H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oriental Insurance Company Limited
The Oriental Insurance Company Ltd. is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. The headquarters is present in New Delhi. It has 29 regional offices and more than 1500 active branches across the country. The psu also has branches in Nepal, Kuwait, and Dubai. The psu had recorded a gross premium of in the financial year 2020–21. It offers more than 170 general insurance products. The IRDA registration number of the company is "556". History The Oriental Insurance Company Ltd. was incorporated at Mumbai on 12 September 1947. The company was a wholly owned subsidiary of The Oriental Government Security Life Assurance Company Ltd and was formed to carry out general insurance business. The company was a subsidiary of the Life Insurance Corporation of India from 1956 to 1973 (until the General Insurance Business was nationalized in the country). In 2003 all shares of the company held by the General Insurance Corpora ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United India Insurance Company
United India Insurance Company is a central public sector undertaking under the ownership of Ministry of Finance, & Government of India. Its headquarters is located in Chennai, India, and was incorporated on 18 February 1938. The company was nationalised in 1972. Previously, it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance obtained autonomy, with effect from 21 March 2003. Twelve Indian insurance companies, four co-operative insurance societies, five foreign insurers with Indian operations and the general insurance operations of the southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited to form the company. After nationalization, United India has 14,322 number of workforce spread across 2,248 offices ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g. Japan), non-financia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freecharge
Freecharge is an Indian financial services company based in Gurugram. It allows users to pay bills such as electricity, gas and telephone, as well as recharge mobile, broadband, DTH and metro cards. In addition, it enables the users to invest in mutual funds and get credit through Freecharge EMI. On 8 April 2015, Snapdeal acquired Freecharge in what was referred to as the second biggest takeover in the Indian e-commerce sector at the time, after the buy out of Ibibo by rival MakeMyTrip. The deal was for approximately US$400 million in cash and stock. On 27 July 2017, Axis Bank acquired Freecharge for $60 million. History Freecharge was founded in August 2010 by Kunal Shah and Sandeep Tandon. After receiving seed funding of an undisclosed amount from Tandon Group and Sequoia Capital in 2010, the company secured Series A funding of ₹200 million from Sequoia Capital in 2011. In November 2012, the company claimed to be doing online recharge of ₹6 million on a d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Axis Mutual Fund
Axis Mutual Fund is an asset management company in India. It was established in the year 2009 and has its headquarter in Mumbai. Axis Mutual Fund offers various types of mutual fund schemes to invest in India, such as equity funds, hybrid funds, debt funds, and more. History Axis Mutual Fund started its operations in 2009 with its first equity scheme, Axis Equity Fund. In April 2012, Schroders, an asset management company, acquired a 25% stake in Axis Mutual Fund. In September 2019, Axis Mutual Fund launched an index fund based on Nifty 100 that is known as Axis Nifty 100 Index fund. On 22 January 2020, the company launched ESG fund. Controversy Two fund managers of Axis Mutual Fund allegedly shared confidential information about the asset manager’s trades with brokers in Gujarat in return for kickbacks, according to new details discovered by a Securities and Exchange Board of India (SEBI) investigation. See also * Mutual funds in India *Axis Bank Axis Bank Limited ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maharashtra
Maharashtra (; , abbr. MH or Maha) is a state in the western peninsular region of India occupying a substantial portion of the Deccan Plateau. Maharashtra is the second-most populous state in India and the second-most populous country subdivision globally. It was formed on 1 May 1960 by splitting the bilingual Bombay State, which had existed since 1956, into majority Marathi-speaking Maharashtra and Gujarati-speaking Gujarat. Maharashtra is home to the Marathi people, the predominant ethno-linguistic group, who speak the Marathi language, the official language of the state. The state is divided into 6 divisions and 36 districts, with the state capital being Mumbai, the most populous urban area in India, and Nagpur serving as the winter capital, which also hosts the winter session of the state legislature. Godavari and Krishna are the two major rivers in the state. Forests cover 16.47 per cent of the state's geographical area. Out of the total cultivable land in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
