FINANCE

01 Sep

GST compensation CRISIS: State govts ask Centre to borrow and pay

editor0 CommentsBusinessCENTREGOVERNMENT, FINANCE, financeminister, GST, Indian government

Terming the two options proposed by the Union government as“unconstitutional,” “illegal” and “a betrayal of the spirit ofcooperative federalism,” key opposition-ruled states pressed theCentre to borrow in order to compensate states for the entire goodsand services tax (GST) shortfall ‘regardless of Act of God’.While six states – Kerala, Telangana, Chhattisgarh, Delhi, Punjaband West Bengal – huddled over a video-conference meeting onMonday to thrash out a strategy to take on the Union government,some states separately shot off letters to the Centre, expressingdisapproval of putting the onus of borrowings on states.The finance ministry on Saturday officially communicated the finerdetails of the two…

23 Jun

ICICI Prudential Life announces a 15% higher bonus

editor0 CommentsBusinessFINANCE, ICICI

A bonus totalling Rs 788 crore has been declared by ICICI Prudential Life Insurance for its bouquet of participating products. This is the 14th consecutive year the Company has declared a bonus and delivered long term value to policyholders. The bonus declared for FY2020 is 15% higher than the last fiscal enabling ~9 lakh policyholder to get one step closer to achieving their financial goals. All participating policies in force as of March 31, 2020, are eligible to receive this bonus, which will be added to their guaranteed maturity or death benefit.Managing Director & CEO of ICICI Prudential Life Insurance,…