Life insurance giant LIC today launched a limited premium paying, non-linked endowment assurance plan, Jeevan Labh.
The plan is available from ages eight years to 59 years and a choice of policy term of 16, 21 and 25 years with premium paying term of 10, 15 and 16 years, respectively. The maximum age at maturity is 75, the corporation said in a statement.
The plan also offers an additional accidental death and disability benefit by paying additional premium.
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BG Wind forecloses deal for 20-MW wind power project * Bhilwara Green Energy today said its arm BG Wind Power has opted to foreclose the deal with contractor for setting up a 20 MW wind power project in Jaisalmer district of Rajasthan.
"In view of the inadvertent delay in commissioning of the project, the company is exercising its right to foreclose the contract with the EPC contractors and demanding the amount paid along with Interest," Bhilwara Green Energy said in a regulatory filing.
According to the statement, the company is not expecting commissioning (of the project) to happen before first quarter (April-June) of financial year 2016-17. The 20 MW wind power project being set up in district Jaisalmer, Rajasthan was scheduled to be commissioned by March 2015.
Just Buy Live, Religare tie up to provide credit to retailers
* Online distributor firm Just Buy Live and financial services firm Religare today joined hands to provide interest free credit to retailers for a period of 30 days in 75 cities.
"Offering an entrepreneur the freedom to trade I believe is a fundamental right. Under this partnership, Religare will provide a 30-day free credit to retailers buying from us," Just Buy Live Chairman and CEO Sahil Sani said at the launch of 'Udhaar by Just Pay'.
He said that retailers get credit from various brands but then retailers are not free to use that credit for other products.
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IDFC Mutual Fund appoints Anoop Bhaskar as Head-Equities * IDFC Asset Management Company has appointed Anoop Bhaskar as Head of Equities.
He has been associated with the domestic mutual fund industry for over two decades covering the entire gamut of equity research and fund management, the company said in a statement today.
Prior to joining IDFC AMC, he was the Head of Equity at UTI Mutual Fund. He has also worked with Sundaram Asset Management, Templeton Asset Management and Shriram Financial Services.
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BHEL appoints T Chockalingam as Finance Director * State-owned Bharat Heavy Electricals today said that T Chockalingam has been appointed as its Director, Finance.
"...Competent Authority has approved the appointment of T Chockalingam as Director (Finance), BHEL for a period of five years w.E.F. The date of his assumption of charge of the post or till the date of his superannuation, or until further orders, whichever is the earliest," the company said in a BSE filing.
1 lakh taxis to accept payments digitally by 2016: Freecharge
* Digital payment firm Freecharge today said it will enable 1 lakh taxis across India to go cashless by enabling them accept payment through its mobile wallet.
"We aim to get 1 lakh taxis in the country to go cashless by the end of 2016 by offering a frictionless payment process and help them be part of digital payments ecosystem," Freecharge Chief Business Officer Sudeep Tandon said in a statement.
The company has reached over 15,000 taxi drivers in Delhi, Mumbai and Bangalore to accept payment using their phone. Freecharge Customers can pay by scanning the QR code unique to individual taxi drivers and complete the transaction.
Freecharge has dedicated teams in Delhi, Mumbai and Bangalore cities who are training and helping drivers to register on Freecharge as a merchant.
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Oxigen Wallet customers can now recharge Delhi Noida toll tags * Customers of digital payment firm Oxigen can now recharge Delhi Noida Delhi toll tags using its electronic wallet.
"A majority of our new and existing users will access services and conveniently recharge their DND expressway cards," Oxigen Wallet Director & Chief Mentor Ankur Saxena said in a statement.
To avail the facility, customers will have to approach DND customer service centre and select Oxigen Wallet as a preferred mode of payment to recharge or get a new membership of Gold or Silver FasTAG.
The DND executive will prompt the customer to generate the one time passowrd (OTP) on Oxigen wallet app, meanwhile feeding in the customer's mobile number and amount in DND system.
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Baskar Babu appointed president of MFIN * Suryoday Micro Finance CEO R Baskar Babu has been appointed president of Microfinance Institutions Network (MFIN).
He replaces Manoj Nambiar of Arohan, said MFIN.
The Board also elected Rakesh Dubey, CEO of SVCL CreditlinePvt as MFIN's new Vice President.
MFIN is industry association and Self-Regulatory Organisation (SRO) for the microfinance industry.
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Vedanta Sesa Goa Iron Ore bags award at national conclave * Vedanta Sesa Goa Iron Ore today bagged an award at the National Conclave on Mines Minerals' held at Raipur.
The award was presented to Vedanta Sesa Goa Iron Ore, Chief Operating Officer (COO) Sauvick Mazumdar by Union Steel Minister Narendra Singh Tomar in presence of Chhattisgarh Chief Minister Raman Singh, a company release said.
Mazumdar said, "This award recognises our best practices and sustainability measures. Vedanta is always committed to mining in a responsible manner aimed at socio economic development and welfare of the communities".
