millennials view life insurance? Where do they like to invest? Are they focused enough on saving? And last, where the industry per say is headed in the uncertainty of the new normal?ETCFO caught up with Satishwar Balakrishnan, CFO, and Principal Officer, Aegon Life Insurance to understand the behaviour of millennials towards the life insurance industry. He also threw a colour on the latest demand trends, and the online sales for the company. Aegon Life is a Mumbai-based insurance company. Below are the edited excerpts from the interaction. Q: Where the life insurance industry is headed in the new normal?Satishwar Balakrishnan: The pandemic is expected to stretch well into the business numbers of this financial year and is likely to impact the business plans.The Life Insurance industry should urgently adapt to this new reality and make significant inroads to address a formidable segment of customers through digital-only engagements. Traditionally Insurers have been trying to keep up … [Read more...] about Millennials preferring short-term investment options than longer duration products: Aegon Life CFO
The rapid spread of digitalization has driven considerable changes in the way businesses operate. This has led to the emergence of new business models and to the substantial transformation of old ones.These changes have placed pressure on the basic concepts underlying the existing international tax rules, which were created almost a century ago.First, the flashback!The 2015 Base Erosion and Profit Shifting (BEPS) package produced a substantial renovation of the international tax rules, underpinned by the principle that the location of taxable profits should be aligned with the location where economic activities and value creation take place. The question however remained on whether the package adequately addressed the broader tax challenges regarding nexus, data and characterization raised by the digitalisation of the economy. These challenges go beyond the issue of how to put an end to BEPS, and chiefly relate to the question of how taxing rights on income generated from cross-border … [Read more...] about India’s Digital Tax is a Riddle with No Clear Answer
Last week, a special CBI court convicted Jaya Jaitley, a former president of the erstwhile Samata Party (now the Janata Dal-United) and three others for corruption and sentenced them to four years of imprisonment for trying to influence a defence deal and accepting illegal gratification for the same. … [Read more...] about Why is the CBI still pursuing Advani and Joshi?
Dec 12, 11: CBI files third charge sheet. Names Essar promoters Anshuman, Ravi Ruia, Essar Group director (Strategy and Planning) Vikas Saraf, Loop Telecom promoters Kiran Khaitan and her husband I P Khaitan as accused. … [Read more...] about Chronology: How the 2G scam case UNFOLDED
That explains why the central bank on Thursday allowed a one-time restructuring of corporate and personal loans that have been under stress ever since Prime Minister Narendra Modi put the country under a severe lockdown in March. Those nationwide restrictions have given way to more localized containment. But with India becoming only the third country after the U.S. and Brazil to zoom past the 2 million infections mark, it will be months before the authorities can shift the economy back into its pre-Covid gear.The engine was sputtering then, too, with consumers retreating from a debt binge, companies deleveraging, exports anemic, real estate in a mess, finance haunted by a mistrust of borrowers, and public works hobbled by low tax resources. Yet just to return to this low-speed economy, India will have to top up the capital destroyed by the coronavirus.Like almost everywhere else, the ability of assets to earn returns in industries ranging from airlines, hotels and commercial real … [Read more...] about Loan restructuring plan shows India’s financial sector is short on capital and truth