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Axis Bank
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian Multinational corporation, multinational banking and financial services company headquartered in Mumbai. It is India's third largest private sector bank by assets and fourth largest by market capitalisation. 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, United India Insurance Company Limited, Oriental Insurance Company Limited, National Insurance Company Limited, New India Assurance, General Insurance Corporation of India, Life Insurance Corporation of India and Unit Trust of India). The remaining 69.19% shares are owned by mutual funds, Institutional investor#India, FIIs, banks, insurance companies, corporate bodies and individual investors. History The bank was founded on 3 December 1993 as UTI Asset Management, UTI Bank as a part of UTI Asset M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listing (finance), listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states and so have associations and formal designations, which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation, though a corporation need not be a public company. In the United Kin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New India Assurance
The New India Assurance Co. Ltd. (''NIACL'') is an Indian Public Sector Undertakings in India, public sector insurance company owned by the Government of India and administered by the Ministry of Finance (India), Ministry of Finance. Headquartered in Mumbai, it is the largest Government of India, nationalised general insurance company of India based on gross premium collection inclusive of foreign operations. It was founded by Sir Dorabji Tata in 1919, and was nationalized in 1973. Previously, it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company following the passage of the Insurance Regulatory and Development Authority, IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance Company, United India Insurance, Oriental Insurance and National Insurance Company Limited, National Insurance became autonomous. Workforce The company's achievements include: * Market leadership ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institutional Investor
An institutional investor is an entity that pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked companies, insurers, pension funds, sovereign wealth funds, charities, hedge funds, real estate investment trusts, investment advisors, endowments, and mutual funds. Operating companies which invest excess capital in these types of assets may also be included in the term. Activist institutional investors may also influence corporate governance by exercising voting rights in their investments. In 2019, the world's top 500 asset managers collectively managed $104.4 trillion in Assets under Management (AuM). Institutional investors appear to be more sophisticated than retail investors, but it remains unclear if professional active investment managers can reliably enhance risk-adjusted returns by an amount that exceeds fees and expenses ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Trust Of India
UTI Asset Management Company (UTI AMC) is one of India's leading asset management companies. It manages mutual funds, portfolio management services, and retirement solutions for individual and institutional investors. UTI Mutual Fund was launched by the Government of India in 1963, and it is one of the oldest mutual fund companies in India. History The Unit Trust of India (UTI), first mutual fund in India, was set up by an Act of Parliament in 1963. Mutual funds in India are constituted in the form of trusts under the Indian Trusts Act of 1882. The Unit Trust of India aimed to encourage saving by providing for various classes of investors the facility of investing their money in units of the Trust. In 1964, UTI launched its first investment scheme Unit Scheme-1964 initially RBI had the regulatory and administrative control. UTI had the monopoly of the mutual fund industry till 1987 when the Government of India permitted public sector banks and financial institutions to spons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance Corporation Of India
The Life Insurance Corporation of India (LIC) is an Indian Public Sector Undertakings in India, public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth as of March 2025. It is under the ownership of Government of India and administrative control of the Ministry of Finance (India), Ministry of Finance. The Life Insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act, nationalising the insurance industry in India. Over 245 insurance companies and provident societies were merged. LIC reported 29 crore (290 million) policyholders as of 2019, a total life fund of . The company also reported having settled 2.6 crore (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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Insurance Company Limited
National Insurance Company Limited (NICL) is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. 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 U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oriental Insurance Company Limited
The Oriental Insurance Company Ltd. (''OICL'') is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in New Delhi, the company has 29 regional offices and more than 1500 active branches nationwide. It also has branches in Nepal, Kuwait, and Dubai that together yielded a Gross Premium of during the year 2022-23. It recorded a gross premium of in the financial year 2022–23. Also In the financial year 2024-25 It recorded a gross premium of 20,434 crore globally History OICL 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. Following the nationalisation of the life insurance business and the formation of the Life Insurance Corporation of India under statutory law, the company became a subsidiary of the Life Insurance Corporation of India f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United India Insurance Company
United India Insurance Company Limited (''UIICL'') is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance. Headquartered in Chennai, Tamil Nadu, the company has 30 regional offices and more than 1,400 operating offices nationwide, including 511 micro offices, as of 31 March 2023. It also had underwriting operations in Hong Kong that ceased effective 1 April 2002, following which the New India Assurance Company Limited, Hong Kong, has taken over the run-off portfolio. This foreign operation had three outstanding claims as of 31 March 2023. The company was incorporated on 18 February 1938 and nationalized in 1972. The Company recorded a gross direct premium income of in the financial year 2022-23, registering a growth of 12.23% over the previous year. It has a network of 6 Large Corporate Business Cells (LCBs), 366 Divisional Offices, 558 Branch Offices and 511 Micro Offices, besides its Head Office in Chennai and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, derivative (finance), risk instruments, and broker, brokerage for large public company, public companies and multinational corporations at a macroeconomics, macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many ty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts Deposit account, 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. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of Bank regulation, 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 accounting liquidity, 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 o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multinational Corporation
A multinational corporation (MNC; also called a multinational enterprise (MNE), transnational enterprise (TNE), transnational corporation (TNC), international corporation, or stateless corporation, is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC to distinguish it from international portfolio investment organizations, such as some international mutual funds that invest in corporations abroad solely to diversify financial risks. Most of the current largest and most influential companies are Public company, publicly traded multinational corporations, including Forbes Global 2000, ''Forbes'' Global 2000 companies. History Colonialism The history of multinational corporations began with the history of colonialism. The first multinational corporations were founded to set up colonial "factories" or port cities. The two main examples were the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freecharge
Freecharge is an Indian financial services company based in Gurgaon. It allows users to pay bills such as electricity, gas and telephone, as well as recharge mobile, broadband, DTH and metro cards. 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 daily basis, translating to ₹2.19 billion a year. In 2011, Freecharge was named one of the most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
