Sensex surged 1,131 points, revisiting the 75,000 level, and Nifty rose 1.45% on global bullish trends. Paytm gained 8%, with resistance at 770 and support at 710. Cipla is breaking out above 1500, support at 1450. Bajaj Finserv is weak, with downside levels at 1820-1800. Analyst suggestions include cautious trading and adhering to stop losses.Read More
Life Insurance Corporation of India (LIC) is set to announce its decision to acquire a minor stake in a health insurance company by the end of March. Concurrently, LIC is in talks with the Reserve Bank of India about issuing long-term government bonds with maturities of up to 100 years.Read More
Axis Bank is negotiating to acquire between 3,500 and 4,000 ATMs from AGS Transact Technologies due to deteriorating service quality. The bank plans to audit the ATMs before finalizing the deal and transfer the machines to another service provider amidst AGS Transact’s financial troubles.Read More
M Nagaraju, Secretary of the Department of Financial Services, emphasizes leveraging technology and AI to reduce insurance premiums to achieve universal coverage by 2047. Currently, India’s insurance penetration is at 3.7%, below the global average. Actuaries are encouraged to utilize advanced analytical tools to create more affordable and effective insurance products, enhancing transparency and security in the sector.Read More
The dent in its books was caused by a September 2023 RBI communique spelling out how banks should value derivatives. It said all derivatives must be marked to market (MTM), which requires valuing assets and liabilities according to prevailing market price.Read More
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