1) The Life Insurance Corporation Act of 1956 nationalized the life insurance business in India and established the Life Insurance Corporation of India (LIC) to take over the business and assets of existing life insurers.
2) The LIC was given powers to carry on life insurance business both in India and abroad, invest funds, borrow money, and enter into arrangements to further its business operations.
3) The act also outlined the process for transferring existing life insurance policies, employees, assets, and documents of private insurers to the LIC.
,
marine insurance
,
types of marine insurance policy
,
features of marine ins. contract
,
marine perils
,
general average loss vs particular average loss
,
differences bet. the marine and fire ins
Features of a Negotiable Instrument
Elements of Negotiability
Presumptions as to negotiable instruments
Promissory Note
Bill of Exchange
Cheque
Holder and Holder in due course
Negotiation, Indorsement and Assignment
Dishonour of negotiable instrument
Liability of Banker
,
marine insurance
,
types of marine insurance policy
,
features of marine ins. contract
,
marine perils
,
general average loss vs particular average loss
,
differences bet. the marine and fire ins
Features of a Negotiable Instrument
Elements of Negotiability
Presumptions as to negotiable instruments
Promissory Note
Bill of Exchange
Cheque
Holder and Holder in due course
Negotiation, Indorsement and Assignment
Dishonour of negotiable instrument
Liability of Banker
In light of a lot of news relating to sham entities garnering funds through fraudulent investment schemes with promise of huge returns mainly in the name of property development and agriculture, SEBI has in the last few years, intensified its scrutiny of investment structures that raise domestic capital on an unregulated basis. Securities Appellate Tribunal recently passed an order upholding SEBI’s findings against Alchemist Infra Reality Limited. The SAT order along with recent pronouncement by the Supreme Court have probed unregulated investment arrangements to conclude whether or not they constitute CIS, as Schemes are required to be registered with SEBI in pursuance to Securities And Exchange Board Of India (Collective Investment Schemes) Regulations, 1999
WHAT IS DEPOSITS AND WHAT IS NOT DEPOSITS UNDER COMPANIES ACT 2013.The Legal Magister
Theory lecture of Deposits and what is not deposits under Companies Act ,2013.
For Law related articles please visit our Blog- http://thelegalmagister.blogspot.com/
Thank you for watching the video :)
In light of a lot of news relating to sham entities garnering funds through fraudulent investment schemes with promise of huge returns mainly in the name of property development and agriculture, SEBI has in the last few years, intensified its scrutiny of investment structures that raise domestic capital on an unregulated basis. SEBI regulates an investment scheme wherein several individuals come together to pool their money for investing in a particular asset(s) and for sharing the returns arising from that investment as per the agreement reached between them prior to pooling in the money under SEBI (Collective Investment Schemes ) Regulations, 1999
Trade union and Collective Bargaining?
-WHAT IS COLLECTIVE BARGAINING ?
-PROCESS OF COLLECTIVE BARGAINING
-ROLE OF TRADE UNIONS
-IMPORTANCE TO EMPLOYEES
-ADVANTAGES OF COLECTIVE BARGAINING
-COLLECTIVE BARGAINING IN INDIA
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
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
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
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
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
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
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
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.
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
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
2. WhAT IS LIC ACT ?
An Act to provide for the nationalization of life insurance business in India by
transferring all such business to a Corporation established for the purpose and
to provide for the regulation and control of the business of the Corporation and
for matters connected therewith or incidental thereto.
3. FUNCTIONS OF CORPORATION?
• (1) Subject to the rules, if any, made by the
Central Government in this behalf, it shall be
the general duty of the Corporation to carry on
life insurance business, whether in or outside
India, and the Corporation shall so exercise its
powers under this Act as to secure that life
insurance business is developed to the best
advantage of the community.
4. the Corporation shall have power--
• (a) to carry on capital redemption
business, annuity certain business or
reinsurance business in so far as such
reinsurance business appertains to life
insurance business;
• (b) to acquire, hold and dispose of any
property for the purpose of its business;
5. • (c) to transfer the whole or any part of the life insurance
business carried on outside India to any other person or
persons, if in the interests of the Corporation it is
expedient so to do.
• (e) to advance or lend money upon the security of any
movable or immovable property or otherwise;
• (f) to borrow or raise any money in such manner and
upon such security as the Corporation may think fit;
6. • (h) to carry on any other business which may
seem to the Corporation to be capable of being
conveniently carried on in connection with its
business and calculated directly or indirectly to
render profitable the business of the Corporation;
• (i) to do all such things as may be incidental or
conducive to the proper exercise of any of the
powers of the Corporation.
7. • (3) In the discharge of any of its functions
the Corporation shall act so far as may be
on business principles
8. POWER TO ImPOSE CONdITIONS
• (1) In entering into any arrangement, under
section 6, with any concern, the Corporation
may impose such conditions as it may think
necessary or expedient for protecting the
interest of the Corporation and for securing
that the accommodation granted by it is put to
the best use by the concern.
9. • (3) Any director appointed as aforesaid shall—
• (a) hold office during the pleasure of the
Corporation and may be removed or substituted
by any person by order in writing by the
Corporation;
• 1. Ins. by Act 52 of 1975, s. 41 (w. e. f. 16- 2-
1976 ).
10. • (b) not incur any obligation or liability by
reason only of his being a director or for
anything done or omitted to be done in good
faith in the discharge of his duties as a
director or anything in relation thereto;
• (c) not be liable to retirement by rotation and
shall not be taken into account for computing
the number of directors liable to such
retirement
11. CHAPTER II:
ESTABLIShmENT OF LIFE
INSURANCE CORPORATION OF
INdIA
12. 3.ESTABLIShmENT ANd INCORPORATION
OF LIFE INSURANCE CORPORATION OF
INdIA.
• (1) With effect from such date as the Central Government
may, by notification in the Official Gazette, appoint, there shall
be established a Corporation called the Life Insurance
Corporation of India.
• (2) The Corporation shall be a body corporate having
perpetual succession and a common seal with power subject
to the provisions of this Act, to acquire, hold and dispose of
property, and may by its name sue and be sued.
13. 4. CONSTITUTION OF ThE
• CORPORATION.
(1) The Corporation shall consist of such number of person not exceeding
[sixteen] as the Central Government may think fit to appoint thereto and one of
them shall be appointed by the Central Government to be the Chairman thereof.
• (2) Before appointing a person to be a member, the Central Government shall
satisfy itself that the person will have no such financial or other interest as is likely
to affect prejudicially the exercise of performance by him of his functions as a
member, and the Central Government shall also satisfy itself from time to time
with respect to every member that he has no such interest; and any person who
is, or whom the Central Government proposes to appoint and who has consented
to be, a member shall, whenever required by the Central Government so to do,
furnish to it such information as the Central Government considers necessary for
the performance of its duties under this sub-section.
14. • (3) A member who is in any way directly or indirectly interested in a
contract made or proposed to be made by the Corporation shall, as
soon as possible after the relevant circumstances have come to his
knowledge, disclose the nature of his interest to the Corporation;
and the member shall not take part in any deliberation or discussion
of the Corporation with respect to that contract.
15. 5. CAPITAL OF ThE
CORPORATION
• (1) The original capital of the Corporation shall be five crores
of rupees provided by the Central Government after due
appropriation made by Parliament by law for the purpose,
and the terms and conditions relating to the provision of such
capital shall be such as may be determined by the Central
Government.
• (2) The Central Government may, on the recommendation of
the Corporation, reduce the capital of the Corporation to such
extent and in such manner as the Central Government may
determine.
16. mAIN FEATURES OF LIC
1. SAvINg INSTITUTION:
•Life insurance both promotes and mobilizes saving in the country. The income tax concession
provides further incentive to higher income persons to save through LIC policies. The total
volume of insurance business has also been growing with the spread of insurance-
consciousness in the country. The total new business of LIC during 1995-96 was Rs. 51815
crore sum assured under 10.20 lakh policies.
•The LIC business can grow at still faster speed if the following improvements are made:
•The organizational and operational efficiency of the LIC should be increased.
•New types of insurance covers should be introduced.
I. The services of LIC should be extended to smaller places.
II. The message of life insurance should be made more popular.
III. The general price level should be kept stable so that the insuring public does
not get cheated of a large amount of the real value of its long-term saving
through inflation.
17. 2. TERm FINANCINg INSTITUTION:
•LIC also functions as a large term financing institution (or a capital market) in
the country. The annual net accrual of investible funds from life insurance
business (after making all kinds of payments liabilities to the policy holders)
and net income from its vast investment are quite large. During 1994-95,
LIC's total income was Rs. 18,102.92crore, consisting of premium income of
Rs. 1152,80crore investment income of Rs. 6336.19crore, and miscellaneous
income of Rs. 238.33crore.
3. INvESTmENT INSTITUTIONS:
LIC is a big investor of funds in government securities. Under the law, LIC is
required to invest at least 50% of its accruals in the form of premium income
in government and other approved securities.
LIC funds are also made available directly to the private sector through
investment in shares, debentures, and loans. LIC also plays a significant role
in developing the business of underwriting of new issues.
19. 14. POWER OF CORPORATION TO mOdIFy
CONTRACTS OF LIFE INSURANCE IN
CERTAIN CASES
• The Corporation may, having regard to the financial condition on
the appointed day of any insurer whose controlled business has
been transferred to an vested in the Corporation, reduce the
amounts of insurance under contracts of life insurance entered into
by such insurer before the 19th day of January, 1956, in such
manner and subject to such conditions as it thinks fit:
Provided that no such reduction shall be made except in accordance with
a scheme prepared by the Corporation in this behalf and approved by the
Central Government.
20. 15. RIghT OF CORPORATION TO
SEEk RELIEF IN RESPECT OF
CERTAIN TRANSACTIONS OF hE
INSURER
(1) Where an insurer whose controlled business has been transferred to and
vested in the Corporation under this Act has, at any time within five years
before the 19th day of January, 1956,-
I. made any payment to any person without consideration;
II. sold or disposed of any property of the insurer without consideration or for
an inadequate consideration.
III. acquired any property or rights for an excessive consideration.
IV. entered into or varied any agreement so as to require an excessive
consideration to be paid or given by the insurer;
V. entered into any other transaction of such an onerous nature as to cause a
loss to, impose a liability on, the insurer exceeding any benefit accruing to
the insurer.
21. (2) The Tribunal may make such order against any of the
parties to the application as it thinks just having regard to the
extend to which those parties were respectively responsible for
the transaction or benefited from it and all the circumstances of
the case.
(3) Where an application is made to the Tribunal under this
section in respect of any transaction and application is
determined in favor of the Corporation, the Tribunal shall have
exclusive jurisdiction to determine any claims outstanding in
respect of the transaction.
22. 11. TRANSFER OF SERvICE OF EXISTINg
EmPLOyEES OF INSURERS TO ThE
CORPORATION
(1) Every whole-time employee of an insurer whose controlled business has been
transferred to and vested in the Corporation and who was employed by the insurer
wholly or mainly in connection with his controlled business immediately before the
appointed day shall, on and from the appointed day, become an employee of the
Corporation, and shall hold his office therein by the same tenure, at the same
remuneration and upon the same terms and conditions and with the same rights and
privileges as to pension and gratuity and other matters as he would have held the
same on the appointed day if this Act had not been passed, and shall continue to do
so unless and until his employment in the Corporation is terminated or until his
remuneration, terms and conditions are duly altered by the Corporation:
Provided that nothing contained in this sub-section shall apply to any such employee
who has, by notice in writing given to the Central Government prior to the appointed
day, intimated his intention of not becoming an employee of the Corporation.
23. (3) If any question arises as to whether any person was a whole-
time employee of an insurer or as to whether any employee was
employed wholly or mainly in connection with the controlled
business of an insurer immediately before the appointed day the
question shall be referred to the Central Government whose
decision shall be final.
(4) Notwithstanding anything contained in the Industrial Disputes
Act 1947 (14 of 1947), or in any other law for the time being in
force, the transfer of the services of any employee of an insurer
to the Corporation shall not entitle any such employee to any
compensation under that Act or other law, and no such claim
shall be entertained by any court, tribunal or other authority.
24. 13. dUTy TO dELIvER POSSESSION OF
PROPERTy ANd dOCUmENTS RELATINg
ThERETO
1) Where any property appertaining to the controlled business of any insurer
has been transferred to an vested in the Corporation under this Act, then, -
(a) every person, in whose possession , custody or control any such property
may be, shall deliver the property to the Corporation forthwith;
(b) and person who, on the appointed day, has in his possession, custody or
control any book, documents or other papers relating to such controlled
business shall be liable to account for the said books, documents and papers
to the Corporation, and shall deliver them to the Corporation or to such
person as the Corporation may direct.
25. (2) In particular, all the assets of an insurer appertaining
to life insurance business held in deposit by the
Reserve Bank of India under the Insurance Act or by
trustees in trust shall be delivered to the Corporation.
(3) Without prejudice to the other provisions contained
in this section, it shall be lawful for the Corporation to
take all necessary steps for securing possession of all
properties which have been transferred to and vested in
it under this Act.