This document discusses foreign direct investment (FDI) and government policy related to the insurance sector in India. It provides background on the history of insurance regulation in India, including nationalization in the 1970s and the opening of the sector to private companies and 26% foreign ownership in 1999 with the passage of the IRDA Act. The document performs a SWOT analysis of the Indian insurance market, identifying strengths like new product offerings but also weaknesses like low insurance penetration. It examines trends in FDI levels and market share between public and private sector players. The objective is to analyze patterns of FDI and government regulation in the evolving Indian insurance industry.
For full text artical go to: http://www.educorporatebridge.com/insurance/insurance-sector-in-india/Insurance sector in India is considered as a huge market due to its momentous untapped potential. This sector is said to improve the standard of living of the people in an economy as it leads to risk free lives, promotes entrepreneurship, mobilizes savings and leads to protection of trade and industry which contributes in human progress.
For full text artical go to: http://www.educorporatebridge.com/insurance/insurance-sector-in-india/Insurance sector in India is considered as a huge market due to its momentous untapped potential. This sector is said to improve the standard of living of the people in an economy as it leads to risk free lives, promotes entrepreneurship, mobilizes savings and leads to protection of trade and industry which contributes in human progress.
Insurance, Sector History, FDI in Insurance, Government Role in Insurance, Industry Growth Pattern, Challenges of Insurance Market, Foreign Direct Investment in Insurance
Insurance, Sector History, FDI in Insurance, Government Role in Insurance, Industry Growth Pattern, Challenges of Insurance Market, Foreign Direct Investment in Insurance
The report deals with a clear understanding of the lending procedures followed by Indian Overseas Bank. It not only explains the basic concepts and the terminologies used in the banking sector but also gives an insight into the legal aspects and the paper work required for final sanction of a loan proposal.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
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what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
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3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
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6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
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This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
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Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
1. INSURANCE AND BANKING
FDI and Indian Government policy
related to Insurance
09/17/12 1
2. OBJECTIVE OF THE PAPER
India is the third most attractive foreign direct
investment destination in the world. The Indian
insurance companies offer a comprehensive range of
insurance plans. Due to the growing demand for
insurance, more and more insurance companies are
now emerging in the Indian insurance sector. The
present paper aims to study the pattern of FDI in
Insurance Sector and the Government regulation in
the said sector. The paper studies current trend in
Insurance sector, the challenges and the prospects
ahead
09/17/12 2
3. INSURANCE REGULATION IN INDIA
• Insurance in India started without any regulations
in the nineteenth century
• After the independence, the Life Insurance
Company was nationalized in 1956, and then the
general insurance business was nationalized in
1972
• Only in 1999 private insurance companies were
allowed back into the business of insurance with a
maximum of 26 per cent of foreign holding
(World Bank Economic Review 2000).
09/17/12 3
4. CONTD.
• Insurance in India used to be tightly regulated and
monopolized by state-run insurers.
• The Insurance Regulatory and
Development Authority (IRDA)
Act of 1999 was passed
• The insurance business was
opened on two fronts
• Firstly, domestic private-sector
companies were permitted to
enter both life and non-life insurance business
09/17/12 4
5. REGULATION CONTD……
• Secondly, foreign Companies were allowed to
participate, albeit with a cap on shareholding
at 26%
• Since its inception IRDA has been taking steps
to promote insurance sector and also protect
interest of people
• A number of reforms have been introduced by
IRDA regarding regulation of agents,deciding
about premium, marketing strategies etc
09/17/12 5
6. MILESTONES Of INSURANCE
REGULATIONS IN ThE 20Th
CENTURy
• 1912 First piece of insurance regulation promulgated –
Indian Life Insurance Company Act, 1912
• 1928 Promulgation of the Indian Insurance Companies
Act
• 1938 Insurance Act introduced, the first comprehensive
legislation to regulate insurance business in India
• 1956 Nationalisation of life insurance business in India
• 1972 Nationalisation of general insurance business in
India
• 1993 Setting-up of the Malhotra Committee
09/17/12 6
7. • 1994 Recommendations of Malhotra Committee released
• 1995 Setting-up of Mukherjee Committee
• 1996 Setting-up of an (interim) Insurance Regulatory
Authority (IRA)
• 1997 Mukherjee Committee Report submitted but not made
public
• 1997 The Government gives greater autonomy to LIC, GIC
and its subsidiaries with regard to the restructuring of boards
and flexibility in investment norms aimed at channellizing
funds to the infrastructure sector
09/17/12 7
8. • 1998 The cabinet decides to allow 40% foreign equity in
private insurance companies – 26% to foreign companies and
14% to non-resident &investors (FIIs)
• 1999 The Standing Committee headed by Murali Deora
decides that foreign equity in private insurance should be
limited to 26%
• The IRA Act was renamed as the Insurance Regulatory and
Development Authority (IRDA) Act
• 1999 Cabinet clears IRDA Act
• 2000 President gives assent to the IRDA Act
09/17/12 8
9. INSURANCE IN INDIA
• Insurance in India remains at an early stage of development
• It can be postulated that by 2014 the penetration of life
insurance in India will increase to 4.4% and that of non-life
insurance to 0.9%
• Indian insurance market is the 19th largest globally and ranks
5th in Asia
• The public sector Insurance companies have continued to
dominate the insurance market
• Enjoying over 90 per cent of the market share. In fact, the
LIC, which is the only public sector life insurer, enjoys over
98 per cent of the market share in Life insurance
09/17/12 9
10. Type of NOS OF PUBLIC NOS OF PRIVATE TOTAL
Business SECTOR SECTOR
COMPANIES COMPANIES
Life insurance 01 12 13
General 06 08 14
insurance
Reinsurance 01 - 01
Total 08 20 28
09/17/12 10
11. Market Share of Life and non-Life Insurance Sectors
INSURANCE SECTOR 2001-2002 2002-2003
PRIVATE
LIFE INSURANCE SECTOR 0.54 1.99
PUBLIC
99.46 98.01
SECTOR
PRIVATE 3.68 8.64
SECTOR
GENERAL
INSURANCE 91.36
PUBLIC
SECTOR 96.32
09/17/12 11
12. CONTD..
• The Indian insurance market it accounts for only
2.5% of premiums in Asia, it has the potential to
become one of the biggest insurance markets in the
region
• India is among the most promising emerging
insurance markets in the world
09/17/12 12
13. fDI IN
• India is the third most attractive foreign
INSURANCE
direct investment destination in the
world
• The present figure of FDI in insurance
sector is 26%
• The proposal to hike that figure to 49%
• India received approximately US$25
billion worth of FDI in 2007-2008; that
number increased to US$27 billion in
2008-2009
• While no target has been fixed for the
financial year 2009-10, so far FDI
inflows for April and May 2009 have
surpassed US$4.4 billion
09/17/12 13
14. ThE SWOT ANALySIS Of INDIAN
ECONOMy fOR INSURANCE SECTOR
• The present increase in FDI would benefit Indian
economy
• There are vast opportunities in Indian market both for
domestic and foreign players
• The insurance sector in India is slated to grow to beyond
Seventy Billion Dollars by the fiscal year 2011
• Despite the formidable success achieved by LIC, the
government has noted that only by bringing in more FDI
can they create an environment for Investment in
insurance by the average middle class Indian and
otherwise
09/17/12 14
15. SWOT ANALySIS
STRENGHTS WEAKNESS
• A range of new products had been • India is among the lowest-spending
launched to cater to different nations in Asia in respect of purchasing
segments of the market, while insurance (China, which spent USD 36.3
traditional agents were per capita on insurance products &
supplemented by other channels Indian spent USD 16.4)
including the Internet and bank • Even after the liberalization of the
branches insurance sector, the public sector
Insurance companies have continued to
• These developments were dominate the insurance market
instrumental in propelling • In the long run, other forms of non-price
business growth, in real terms, of competition like aggressive
19% in life premiums and 11.1% advertisement wars are likelyTo lead to
in non-life premiums between increasing costs, eventually harming the
1999 and 2003. interests of the consumers.
09/17/12 15
16. SWOT CONTD…
STRENGHTS WEAKNESS
• India has a large population • A key challenge for India’s
non-life insurance sector will
with an increase in its per be to reform the existing tariff
capita income structure. From a pricing
perspective, the Indian non-life
• India’s middle income is segment is still heavily
rapidly increasing emerging regulated
as a profitable market • Reinsurance is only provided
by GIC
• While the insurance business is
highly concentrated in India,
the share of foreign companies
is low
09/17/12 16
17. OPPORTUNITIES ThREATS
• India’s improving economic • Between 1985 and 2003,
fundamentals will support economic losses in India due
faster growth in per capita to natural catastrophes
income in the coming years, averaged around USD 1.2
which will translate into billion or 0.4% of GDP every
stronger demand for insurance year
products • Floods were the main peril,
• Strong growth can be sustained accounting for 40%
for 30–40 years before the ofcumulative losses over the
market reaches saturation period, followed by storms
(35%) and earthquakes (20%)
09/17/12 17
18. OPPORTUNITIES ThREATS
• there is plenty of room for CUMALATIVE CATASTROPHIC
LOSES 1985-2003
growth in personal accident,
health and other liability
classes
• Rising household income and
risk awareness will be the key
catalysts to spurring more
demand for these lines of
business in the future
• Health insurance could
potentially have an important
role in driving insurance
market development forward
09/17/12 18
19. • the largely underserved • strong growth prospects
rural sector holds great pose pressure on the
promise for both life and industry, and the economy
non-life insurers at large, to better manage
the exposure to natural
perils
• Questionable Reputation of
the Foreign Partners
09/17/12 19
20. SUGGESTIONS
To begin with, India needs to further liberalize investment
regulations on insurers to strike a proper balance between insurance
solvency and investment flexibility
Furthermore, both the life and non-life insurance sectors would
benefit from less invasive regulations
In addition, price structures need to reflect product risk. Obsolete
regulations on insurance prices will have to be replaced by risk-
differentiated pricing structures
There is huge untapped potential, for example, in the largely
undeveloped private pension market. At the moment, less than 11%
of the working population in India is eligible for participation in any
formal old-age retirement scheme. Private insurers will have a key
role to play in serving the large number of informal sector workers.
09/17/12 20
21. CONTD……..
Price liberalization will be needed to improve underwriting
efficiency and risk management
International reinsurance
09/17/12 21
22. CONCLUSION
On the regulatory side, there are outstanding issues concerning
solvency regulations, further liberalizing of investment rules,
caps on foreign equity shareholdings5 as well as the
enforcement of price tariffs in the non-life insurance sector
The proliferation of bancassurance is rapidly changing the
way insurance products are distributed in India. This will also
have strong implications on the process of financial
convergence and capital market development in India
Health insurance is still underdeveloped in India but offers
huge potential, as there will be increasing needs to purchase
private health cover to supplement public programmes
09/17/12 22
23. CONCLUSION….
Likewise, the deficiencies in current pension schemes should
offer significant opportunities to private providers
With the majority of the population still residing in rural areas,
the development of rural insurance will be critical in driving
overall insurance market development over the longer term
09/17/12 23