Finance

Regulator Irdai on Monday permitted life and general insurers to conduct KYC of prospective customers through Video Based Identification Process (VBIP), a move that will help company officials to complete mandatory requirement online during the pandemic. The objective of the VIBP, Insurance Regulatory and Development Authority of India (Irdai) said, is to leverage various electronic platforms to simplify know your customer (KYC) process and make it customer-friendly. Insurers may undertake live VBIP by developing an application, which will facilitate the KYC process either online or face-to-face in-person verification through video, the…

Route Mobile made a strong debut on the bourses, with the stock rising 86 per cent above its issue price on its listing. Shares of the Cloud communications service provider opened at Rs 708 apiece — 102 per cent above the issue price of Rs 350. However, the stock fell and ended the session at Rs 651. Following the listing, the firm commands Rs 3,702 crore. . The Rs 600-crore IPO of Route Mobile was subscribed 75x. The offering comprised fresh fundraising worth Rs 240 crore, with the remainder being a secondary share sale by promoters.…

September 19, 2020 6 min readOpinions expressed by Entrepreneur contributors are their own. Google is still the King, Queen and court jester of online search. Sure, Facebook and Amazon are trying to carve out their own slice of the search pie, but as of July 2019, Google dominated over 90 percent of all search queries. When someone does a Google search for a product or service, they are demonstrating intent and motivation. The beauty of searches based on intent is that this traffic can be free. Paid keyword advertising works, but it isn’t the only way to get clicks…

First things first, what is a loan restructuring scheme? It is a process used by companies and individuals facing financial distress or on the brink of insolvency to lower and renegotiate their debts and restore liquidity so that companies can continue their business, while individuals get on with their lives. Basically, loans are restrutured to avoid the risk of default on existing debt. The debt restructuring process involves a reduction of the interest rates on loans or an extension of its repayment tenure, or both. These steps improve a company’s chances of paying back the dues.…

Soybean at the benchmark Indore market is trading at Rs 3,969 per quintal; Wheat is trading at Rs 1,800 per quintal in Delhi…

September 19, 2020 8 min readOpinions expressed by Entrepreneur contributors are their own. As a company leader, I try to positively impact my community whenever possible. Whether its youth programs, gender equity, career coaching, or anti-violence, we (Complete SET agency) create educational themed events as well as donate portions of revenue to social change. Cause models like this, whether grassroots or multinational, are increasingly important for businesses, large and small, to have at their operational core. Ensuring that your business is creating a positive impact is a necessary competitive advantage. In fact, a 2018 Conecomm survey found that 78…

The disruption caused by the coronavirus’ spread and the pandemic-induced lockdown resulted in the life insurance industry losing around four million policies and premiums of around Rs 45,000 crore, said Raj Kumar, managing director of Life Insurance Corporation (LIC). Speaking at an event organised by the Merchants’ Chamber of Commerce and Industry on post-Covid challenges and opportunities for the industry, Kumar said: “The industry as a whole lost four million policies and around Rs 15,000 crore of new business premium. Since the lockdown happened, people were saving money for necessities. So, around Rs 30,000 crore of…

Fitch Solutions has revised downward its forecast for fuel demand contraction in India to 11.5 per cent in 2020 in line with further deterioration in the country’s economic outlook. Its economists forecast India’s real GDP to contract by 8.6 per cent in the fiscal year 2020-21 (April 2020 to March 2021), down from -4.5 per cent previously. “Demand weakness is spread across the board, with both consumer and industrial fuels set for the steep decline,” Fitch Solutions said in a note. “We have made a further downward revision to our India refined fuels demand…