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UNIVERSITY OF MUMBAI

PROJECT REPORT ON

“INVESTMENT BANKING”

MASTER OF COMMERCE (BANKING & FINANCE)

SUBJECT:-INVESTMENT MANAGEMENT

SEMESTER III

2015-201

I! P"#$%" F'%*!$+ $,* R*'%#**!$ '.*# S**/$*# B"/*. C#*.%$

A!. G#".%! S/$* +# P+/$ G#".'$*/ (PG)

P#+#"* '!.*# F"3'$ + C+*#3*

SUBMITTE4 BY

VISAKA MARU

RO66 NO:-7

PROJECT GUI4E

PROF:- KU64EEP SARMA

KPB IN4UJA CO66EGE OF COMMERCE

315, NEW CHARNI ROAD, MUMBAI-400 004

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MC+ (B"!8%! "!. F%!"!3*)

7R4 SEMESTER 

“INVESTMENT BANKING”

SUBMITTE4 BY

M%// VISAKA ARIS MARU

RO66 NO: 7

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CERTIFICATE

This is to certif th!t Ms" MARU #I$HA%HA HARI$H of M"Co&

BAN%IN' AND (INANCE $e&ester- 3 )*015-*01+ h!s sccessf.. co&/.ete

the ro2ect o IN#E$TMENT BAN%IN' er the 6i!ce of RO(

"%U7DEE $HARMA"

ro2ect 'ie 8888888888888888  

Corse Coori!tor 8888888888888888  

Iter!. E9!&ier 8888888888888888  

E9ter!. E9!&ier 8888888888888888  

rici/!. 8888888888888888  

D!te: 888888 

.!ce: M&;!i

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4EC6ARATION

I, Ms" VISAKA ARIS MARU stet of M"Co&-B!<i6 !

(i!ce, se&ester- 3 =*015-*01+>, here; ec.!re th!t I h!?e co&/.ete the /ro2ect

o INVESTMENT BANKING"

The ifor&!tio s;&itte is tre ! ori6i!. co/ to the ;est of &

<o@.e6e"

VISAKA MARU

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ACKNO96E4GEMENT

I o@e & s/eci!. th!<s to the rici/.e Dr" Chitr! N!tr!2! ! the Co-

coori!tor of M"co& RO( %U7DEE $HARMA for 6i?i6 &e ! o//ortit

for this /ro2ect @or<" I @o. .i<e to 6i?e & th!<s to the ro2ect 'ie RO(

%U7DEE $HARMA  for her 6i!ce ! <i !ssess&et th!t she h!s /ro?ie

&e ! the is/ir!tio i ?!.e 6i!ce ! ie!s thro6hot the /ro2ect" I !&

!.so th!<f. to the .i;r!r st!ff of %" " B" Hi2! Co..e6e Of Co&&erce @ho co-

o/er!te @ith &e ! e?e !.. those see ! see h!s ! he!s @hich

he./e &e i her co&/.etio of this /ro2ect"

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IN4E

SR- NO TOPICSPAGE

NO1 INSURANCE IN IN4IA 1-

2 6IFE INSURANCE IN IN4IA ;-<

7 6IST OF 6IFE INSURANCE =-10

>

FOREIGN 4IRECT INVESTMENT IN INSURANCE

SECTOR 

10

5

INITIA6 PUB6IC OFFERS RU6ES OF IN4IAN

INSURANCE COMPANIES

11

IN4IAN 6IFE INSURANCE OVERVIE9 12-17

; NATIONAL INSURANCE COMPANY 1>-1

< LIFE INSURANCE COPERATION IN INDIA 1;-21

'ENERA7 IN$URANCE CORORTION O( INDIA *1-**

10 NEW INDIAN A$$URANCE COMAN *3-*4

11 UNITED INDIAN IN$URANCE *5-*

1*IN$URANCE RE'UATOR DE#E7OMENT

AUTHORIT O( INDIA30-31

13 AGIRCU6TURE INSURANCE IN IN4IA 72-77

14 BIB7O'RAH 34-35

C:1 INSURANCE SECTOR IN IN4IA

INTRO4UCTION

I!/'#"!3* %! I!.%" refers to the &!r<et for isr!ce i Ii! @hich co?ers ;oth the /;.ic !

 /ri?!te sector or6!is!tios" It is .iste i the Costittio of Ii! i the $e?eth $che.e !s

! Uio 7ist s;2ect, &e!i6 it c! o. ;e .e6is.!te ; the cetr!. 6o?er&et"

The isr!ce sector h!s 6oe thro6h ! &;er of /h!ses ; !..o@i6 /ri?!te co&/!ies to

so.icit isr!ce ! !.so !..o@i6 forei6 irect i?est&et" Ii! !..o@e /ri?!te co&/!ies i

isr!ce sector i *000, setti6 ! .i&it o (DI  to *+, @hich @!s icre!se to 4 i

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*014" Ho@e?er, the .!r6est .ife-isr!ce co&/! i Ii!, 7ife Isr!ce Cor/or!tio of 

Ii!  is sti.. o@e ; the 6o?er&et ! c!rries ! so?erei6 6!r!tee for !.. isr!ce

 /o.icies isse ; it"

Histor

I Ii!, isr!ce h!s ! ee/-roote histor" Isr!ce i ?!rios for&s h!s ;ee &etioe i

the @riti6s of  M! =M!s&rithi>, !6!?!.<! =Dh!r&!sh!str!> ! %!ti.!=Arth!sh!str!>"

The f!&et!. ;!sis of the historic!. referece to isr!ce i these !ciet Ii! te9ts is the

s!&e i"e" /oo.i6 of resorces th!t co. ;e re-istri;te i ti&es of c!.!&ities sch !s fire,

f.oos, e/ie&ics ! f!&ie" The e!r. refereces to Isr!ce i these te9ts h!?e referece to&!rie tr!e .o!s ! c!rriers cotr!cts"

Isr!ce i its crret for& h!s its histor !ti6 ;!c< ti. 1F1F, @he Oriet!. 7ife Isr!ce

Co&/! @!s st!rte ; Ait! Bh!?s!r i %o.<!t! to c!ter to the ees of Ero/e! co&&it"

The /re-ie/eece er! i Ii! s!@ iscri&i!tio ;et@ee the .i?es of forei6ers =E6.ish>

! Ii!s @ith hi6her /re&i&s ;ei6 ch!r6e for the .!tter" I 1FG0, Bo&;! Mt!. 7ife

Assr!ce $ociet ;ec!&e the first Ii! isrer"

The 'o?er&et of Ii! isse ! Ori!ce o 1 !!r 15+ !tio!.isi6 the 7ife

Isr!ce sector ! 7ife Isr!ce Cor/or!tio c!&e ito e9istece i the s!&e e!r" The 7ife

Isr!ce Cor/or!tio =7IC> !;sor;e 154 Ii!, 1+ o-Ii! isrers !s !.so G5 /ro?iet

societies*45 Ii! ! forei6 isrers i !.." I 1G* @ith the 'eer!. Isr!ce Bsiess

=N!tio!.is!tio> Act @!s /!sse ; the Ii! !r.i!&et, ! coseJet., 'eer!. Isr!ce

 ;siess @!s !tio!.iKe @ith effect fro& 1 !!r 1G3" 10G isrers @ere !&!.6!&!te !

6ro/e ito for co&/!ies, !&e. N!tio!. Isr!ce Co&/! 7t", the Ne@ Ii!

Assr!ce Co&/! 7t", the Oriet!. Isr!ce Co&/! 7t ! the Uite Ii! Isr!ceCo&/! 7t" The 'eer!. Isr!ce Cor/or!tio of Ii! @!s icor/or!te !s ! co&/! i

1G1 ! it co&&ece ;siess o 1 !!r 1G3"

The 7IC h! &oo/o. ti.. the .!te 0s @he the Isr!ce sector @!s reo/ee to the /ri?!te

sector" Before th!t, the istr cosiste of o. t@o st!te isrers: 7ife Isrers =7ife Isr!ce

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Cor/or!tio of Ii!, 7IC> ! 'eer!. Isrers ='eer!. Isr!ce Cor/or!tio of Ii!, 'IC>"

'IC h! for s;sii!r co&/!ies" With effect fro& Dece&;er *000, these s;sii!ries h!?e

 ;ee e-.i<e fro& the /!ret co&/! ! @ere set / !s ie/eet isr!ce

co&/!ies: Oriet!. Isr!ce Co&/! 7i&ite,  Ne@ Ii! Assr!ce Co&/!

7i&ite, N!tio!. Isr!ce Co&/! 7i&ite ! Uite Ii! Isr!ce Co&/! 7i&ite"

Istr strctre

B *01* Ii! Isr!ce is ! U$LG* ;i..io istr" Ho@e?er, o. t@o &i..io /eo/.e =0"*

of the tot!. /o/.!tio of 1 ;i..io> !re co?ere er Meic.!i&, @here!s i e?e.o/e !tios

.i<e U$A !;ot G5 of the tot!. /o/.!tio !re co?ere er so&e isr!ce sche&e" With

&ore ! &ore /ri?!te co&/!ies i the sector, this sit!tio is e9/ecte to ch!6e" EC'C,

E$IC ! AIC /ro?ie isr!ce ser?ices for iche &!r<ets" $o, their sco/e is .i&ite ;

.e6is.!tio ;t e2o so&e s/eci!. /o@ers

Isr!ce Re/ositor

O 1+ $e/te&;er *013, IRDA .!che Isr!ce Re/ositor ser?ices i Ii!" It is ! iJe

coce/t ! first to ;e itroce i Ii!" This sste& e!;.es /o.ic ho.ers to ; ! <ee/

isr!ce /o.icies i e&!teri!.iKe or e.ectroic for&" o.ic ho.ers c! ho. !.. his isr!ce

 /o.icies i ! e.ectroic for&!t i ! si6.e !ccot c!..e e.ectroic isr!ce !ccot =eIA>"

Isr!ce Re6.!tor ! De?e.o/&et Athorit h!s isse .iceses to fi?e etities to !ct !s

Isr!ce Re/ositor:

 N$D7 D!t!;!se M!!6e&et 7i&ite, Cetr!. Isr!ce Re/ositor 7i&ite = CIR7 >, $HCI7

ro2ects 7i&ite, %!r? Isr!ce re/ositor 7i&ite, CAM$ Re/ositor $er?ices 7i&ite

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7e6!. strctre

The isr!ce sector @et thro6h ! f.. circ.e of /h!ses fro& ;ei6 re6.!te to co&/.ete.

re6.!te ! the crret. ;ei6 /!rt. ere6.!te" It is 6o?ere ; ! &;er of !cts"

The Isr!ce Act of 13F @!s the first .e6is.!tio 6o?eri6 !.. for&s of isr!ce to /ro?ie

strict st!te cotro. o?er isr!ce ;siess"7ife isr!ce i Ii! @!s co&/.ete. !tio!.iKe

o 1 !!r 15+, thro6h the 7ife Isr!ce Cor/or!tio Act" A.. *45 isr!ce co&/!ies

o/er!ti6 the i the cotr @ere &er6e ito oe etit, the 7ife Isr!ce Cor/or!tio of 

Ii!"

The 'eer!. Isr!ce Bsiess Act of 1G* @!s e!cte to !tio!.iKe !;ot 100 6eer!.

isr!ce co&/!ies the ! s;seJet. &er6i6 the& ito for co&/!ies" A.. the

co&/!ies @ere !&!.6!&!te ito N!tio!. Isr!ce, Ne@ Ii! Assr!ce, Oriet!. Isr!ce

! Uite Ii! Isr!ce, @hich @ere he!J!rtere i e!ch of the for &etro/o.it!

cities"Uti. 1, there @ere o /ri?!te isr!ce co&/!ies i Ii!" The 6o?er&et the

itroce the Isr!ce Re6.!tor ! De?e.o/&et Athorit Act i 1, there; e-

re6.!ti6 the isr!ce sector ! !..o@i6 /ri?!te co&/!ies" (rther&ore, forei6 i?est&et

@!s !.so !..o@e ! c!//e !t *+ ho.i6 i the Ii! isr!ce co&/!ies"

I *00+, the Act!ries Act @!s /!sse ; /!r.i!&et to 6i?e the /rofessio st!ttor st!ts o /!r 

@ith Ch!rtere Accot!ts, Not!ries, Cost Wor<s Accot!ts, A?oc!tes, Architects !

Co&/! $ecret!ries"A &ii&& c!/it!. of U$LF0 &i..io=Rs"400 Crore> is reJire ;

.e6is.!tio to set / ! isr!ce ;siess"

A'$,+#%$%*/

The /ri&!r re6.!tor for isr!ce i Ii! is the Isr!ce Re6.!tor ! De?e.o/&et

Athorit =IRDA> @hich @!s est!;.ishe i 1 er the 6o?er&et .e6is.!tio c!..e

the Isr!ce Re6.!tor ! De?e.o/&et Athorit Act, 1  The istr reco6ises

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e9!&i!tios cocte ; IAI =for !ct!ries>, III =for !6ets, ;ro<ers ! thir-/!rt

!&iistr!tors> ! III$7A =for sr?eors ! .oss !ssessors>" TAC is the so.e !t! re/ositor for 

the o-.ife istr" IBAI 6i?es ?oice for ;ro<ers @hi.e 'I Coci. ! 7I Coci. !re

 /.!tfor&s for isrers" AI'IEA, AIIEA, AIIE(, AI7ICE(, AI7IEA, (7ICOA, 'IEAIA, 'IEU

! N(I(WI c!ter to the e&/.oees of the isrers" I !itio, there !re ! oKe O&;s&!

offices to !ress c.iet 6rie?!ces"

Isr!ce ec!tio

A &;er of istittios /ro?ie s/eci!.ist ec!tio for the isr!ce istr, these ic.e

•  N!tio!. Isr!ce Ac!e&, e, s/eci!.iKe i te!chi6, cocti6 rese!rch !

 /ro?ii6 cos.ti6 ser?ices i the isr!ce sector" NIA offers ! t@o e!r 'DM /ro6r!&

i isr!ce" NIA @!s foe !s Miistr of (i!ce iiti!ti?e @ith c!/it!. s//ort fro& the

the /;.ic isr!ce co&/!ies, ;oth 7ife =7IC> ! No-7ife ='IC, N!tio!., Oriet!.,

Uite Ne@ Ii!>"

• Istitte of Isr!ce ! Ris< M!!6e&et, Her!;!, @!s est!;.ishe ; the re6.!tor 

IRDA" The istitte offers ost6r!!te i/.o&! i 7ife, 'eer!. Isr!ce, Ris< 

M!!6e&et ! Act!ri!. $cieces" The istitte is ! 6.o;!. .e!ri6 ! rese!rch ceter i

• isr!ce, ris< &!!6e&et, !ct!ri!. scieces" The /ro?ie cos.ti6 ser?ices for the

fi!ci!. istr"

• A&it $choo. of Isr!ce B!<i6 ! Act!ri!. sciece =A$IBA$> of A&it

Ui?ersit, .oc!te i Noi! ! est!;.ishe i *000, offers MBA /ro6r!&s i Isr!ce,

Isr!ce ! B!<i6, ! M"$c"B"$c" !ct!ri!. scieces to ! ost 'r!!te Di/.o&! i

Act!ri!. $cieces"

• oicherr Ui?ersit is offeri6 &;! i isr!ce &!!6e&et" oicherr i?ersit

is the o. cetr!. i?ersit @hich offers isr!ce &!!6e&et i Ii!"

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• Bir.! Istitte of M!!6e&et Techo.o6 is ! 6r!!te ;siess schoo. .oc!te i

're!ter Noi!, est!;.ishe i 1FF, offers ! 'DM-IBM /ro6r!& i isr!ce ;siess

&!!6e&et" This /ro6r!& @!s .!che i *000 ; the Cetre for Isr!ce ! Ris< 

M!!6e&et ! is !ccreite ; the Isr!ce Re6.!tor ! De?e.o/&et Athorit" 7ife

Office M!!6e&et Associ!tio =7OMA>, U$A is BIMTECHs ec!tio!. /!rter !

BIMTECH is ! !//ro?e cetre for 7OMA e9!&i!tio" The Ch!rtere Isr!ce

Istitte =CII>, U% h!s !ccore reco6itio =; @! of creits> to the BIMTECH 'DM-

IBM /ro6r!&" Their t@o e!r 'DM /ro6r!& i isr!ce ;siess h!s ;ee reco6iKe !s

eJi?!.et to the Associ!te .e?e. of the Isr!ce Istitte of Ii!, M&;!i"

•  N7U, oh/r, offers ! t@o e!r MBA ! oe e!r M$ =for e6ieeri6 6r!!tes>

 /ro6r!& i isr!ce"

IRDA cotro.s !.. the Isr!ce ;siess i Ii!" The set / the strctre ! ;o!ries for 

the isr!ce co&/!ies to !ct @ithi" $t!rti6 fro& .icesi6 to !//ro?i6 the /rocts, IRDA

irects the co&/!ies i Ii!" The !.so /rotect csto&er iterests i the cotr"

To ;eco&e ! isr!ce !?isor i Ii! isr!ce !ct 13F &!!tes th!t the ii?i!. h!s to

 ;e ! M!2or @ith so &i" After the !?et of IRDA !s Isr!ce Re6.!tor it h!s fr!&e

?!rios re6.!tios ?iK tr!ii6 hors, e9!&i!tio ! fees @hich !re !&ee fro& ti&e to

ti&e" $ice No?e&;er *011 IRDA the Isr!ce Re6.!tor i Ii! h!s itroce ! s..!;s

=IC-33> cocei?e ! e?e.o/e ; CII, 7oo" The s..!;s &!i. !i&s to &!<e !

Isr!ce A6et ! fi!ci!. /rofessio!." Bt !.&ost !.. isrers !re f!ci6 to6h ti&es &!<i6

the c!i!tes /!ss the e9!&i!tio @hich h!s ;eco&e re.!ti?e. to6h"

CH:* 7ife isr!ce i Ii!

6%* I!/'#"!3* is the f!stest 6ro@i6 sector i Ii! sice *000 !s 'o?er&et !..o@e ri?!te

 /.!ers ! (DI / to *+ ! recet. C!;iet !//ro?e ! /ro/os!. to icre!se it to 4" 7ife

Isr!ce i Ii! @!s !tio!.ise ; icor/or!ti6 7ife Isr!ce Cor/or!tio =7IC> i 15+"

A.. /ri?!te .ife isr!ce co&/!ies !t th!t ti&e @ere t!<e o?er ; 7IC"

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I 13, the 'o?er&et of Ii! !//oite RN M!.hotr! Co&&ittee to .! o@ ! ro! &!/ for 

 /ri?!tis!tio of the .ife isr!ce sector"

Whi.e the co&&ittee s;&itte its re/ort i 14, it too< !other si9 e!rs ;efore the e!;.i6

.e6is.!tio @!s /!sse i the e!r *000, .e6is.!tio !&ei6 the Isr!ce Act of 13F !

.e6is.!ti6 the Isr!ce Re6.!tor ! De?e.o/&et Athorit Act of *000" The s!&e e!r the

e@. !//oite isr!ce re6.!tor - Isr!ce Re6.!tor ! De?e.o/&et Athorit IRDA

 st!rte issi6 .iceses to /ri?!te .ife isrers"

 1:T/es of 7ife Isr!ce i Ii!

Isr!ce /rocts co&e i ! ?!riet of offeri6s c!teri6 to the i?est&et ees ! o;2ecti?es

of ifferet <is of i?estors" (o..o@i6 is the .ist of ;ro! c!te6ories of .ife isr!ce /rocts:

11T*# I!/'#"!3* P+%3%*/

The ;!sic /re&ise of ! ter& isr!ce  /o.ic is to secre the i&&ei!te ees of o&iees or 

 ;eefici!ries i the e?et of se or fort!te e&ise of the  /o.ic ho.er" The /o.ic ho.er 

oes ot 6et ! &oet!r ;eefit !t the e of the /o.ic ter& e9ce/t for the t!9 ;eefits he or 

she c! choose to !?!i. of thro6hot the tere of the /o.ic" I the e?et of e!th of the /o.ic

ho.er, the s& !ssre is /!i to his or her ;eefici!ries" Ter& isr!ce /o.icies !re !.so

re.!ti?e. che!/ to !cJire co&/!re to other isr!ce /rocts"

12M+!*-?"38 P+%3%*/

Moe ;!c< /o.icies !re ;!sic!.. ! e9tesio of eo@&et /.!s @herei the /o.ic ho.er 

recei?es ! fi9e !&ot !t s/ecific iter?!.s thro6hot the r!tio of the /o.ic" I the e?et of 

the fort!te e!th of the /o.ic ho.er, the f.. s& !ssre is /!i to the ;eefici!ries" The

ter&s !6!i &i6ht s.i6ht. ?!r fro& oe isr!ce co&/! to !other"

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17U!%$-%!8*. I!@*/$*!$ P+%3%*/ (U6IP)

Uit .i<e isr!ce /o.icies !6!i ;e.o6 to the isr!ce-c&-i?est&et c!te6or @here oe

6ets to e2o the ;eefits of ;oth isr!ce ! i?est&et" Whi.e ! /!rt of the &oth. /re&i&

 /!-ot 6oes to@!rs the isr!ce co?er, the re&!ii6 &oe is i?este i ?!rios t/es of 

fs th!t i?est i e;t ! eJit istr&ets" U7I /.!s !re &ore or .ess si&i.!r i

co&/!riso to &t!. fs e9ce/t for the ifferece th!t U7Is offer the !itio!. ;eefit of 

isr!ce"

1>P*!/%+! P+%3%*/

esio /o.icies .et ii?i!.s eter&ie ! fi9e stre!& of ico&e /ost retire&et" This

 ;!sic!.. is ! retire&et /.!i6 i?est&et sche&e @here the s& !ssre or the &oth. /!-

ot !fter retire&et etire. e/es o the c!/it!. i?este, the i?est&et ti&efr!&e, ! the

!6e !t @hich oe @ishes to retire" There !re !6!i se?er!. t/es of /esio /.!s th!t c!ter to

ifferet i?est&et ees" No@ it is reco6iKe !s isr!ce /roct ! ;ei6 re6.!te ;

IRDA"

*:7ist of 7ife Isrers =!s of e *014>

A/!rt fro& 7ife Isr!ce Cor/or!tio, the /;.ic sector .ife isrer, there !re *3 other /ri?!te

sector .ife isrers, &ost of the& 2oit ?etres ;et@ee Ii! 6ro/s ! 6.o;!. isr!ce

6i!ts"

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 21 6%* I!/'#*# %! P'?%3 S*3$+#

1" 7ife Isr!ce Cor/or!tio of Ii!

22 6%* I!/'#*#/ %! P#%@"$* S*3$+#

1" $BI 7ife Isr!ce

*" NB Met.ife Ii! 7ife Isr!ce

3" ICICI reti!. 7ife Isr!ce

4" B!2!2 A..i!K 7ife

5" M!9 7ife Isr!ce

+" $!h!r! 7ife Isr!ce

G" T!t! AI' 7ife

F" HD(C 7ife

" Bir.! $ 7ife Isr!ce

10"%ot!< 7ife Isr!ce

11"Ii!(irst 7ife Isr!ce

1*"A?i?! 7ife Isr!ce

13"Re.i!ce 7ife Isr!ce Co&/! 7i&ite - (or&er. <o@ !s AM $!&!r 7IC

14"E9ie 7ife Isr!ce - (or&er. <o@ !s IN' #s! 7ife Isr!ce

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15"$hrir!& 7ife Isr!ce

1+"Bh!rti APA 7ife Isr!ce Co 7t"

1G"(tre 'eer!.i 7ife Isr!ce Co 7t

1F"IDBI (eer!. 7ife Isr!ce

1"AE'ON Re.i6!re 7ife Isr!ce

*0"DH(7 r!&eric! 7ife Isr!ce - (or&er. <o@ !s D7( r!&eric! 7ife Isr!ce

*1"CANARA H$BC Oriet!. B!< of Co&&erce

**"$t!r Uio Di!-ichi 7ife Isr!ce Co" 7t

*3"Ee.@eiss To<io 7ife Isr!ce Co&/! 7t"

 3:(orei6 Direct I?est&et =(DI> o.ic i Isr!ce

$ector:-

As /er the crret =M!rch *00+> (DI or&s, forei6 /!rtici/!tio i ! Ii! isr!ce

co&/! is restricte to *+"0 of its eJit ori!r sh!re c!/it!." The Isr!ce Re6.!tor h!s

sti/.!te th!t forei6 i?est&et i Ii! Isr!ce co&/!ies ;e .i&ite to *+ of tot!.

eJit isse =(DI .i&it> @ith the ;!.!ce ;ei6 fe ; Ii! /ro&oter etities" The .i&it toforei6 i?est&et ic.es ;oth irect ! iirect i?est&et ! h!s ;ee ! c!se of 

si6ific!t .o;;i6 ; forei6 isr!ce co&/!ies for ! ch!6e i re6.!tios to icre!se the

(DI .i&it to 4 of eJit isse" Recet.,I the (isc!. B6et of Moi 'o?er&et of *014-

15 it h!s itroce 4"0 (DI @hich @i.. ;ri6 i &ore i?est&ets i Isr!ce $ector"

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The Ii! 6o?er&et h!s s//orte ! icre!se i the (DI .i&it, @hich reJires ! ch!6e i

the Isr!ce Act" The Uio B6et for fisc!. *005 h! reco&&ee th!t the cei.i6 o

forei6 ho.i6 ;e icre!se to 4"0"

A ch!6e i the Isr!ce Act reJires ! /!ss!6e of the ;i.. i ;oth hoses of !r.i!&et" TheIi! 6o?er&et h!s t!;.e the ;i.. i the U//er Hose of !r.i!&et i A6st *010"

71I!%$%" P'?%3 O*# (IPO) #'*/ +# I!.%"! 6%* I!/'#"!3*

C+"!%*/

A <e /iece of .e6is.!tio i&/!cti6 o the 7ife Isr!ce istries c!/it!. r!isi6 !;i.ities is

the .oc<-i /erio of 10 e!rs for i?est&et to ;e .i&ite to /ro&oter 6ro/ eJit i?est&ets"

Uer the Isr!ce 'ie.ies, Ii! 7ife Isr!ce co&/!ies c! o/t for ! /;.ic isse of 

eJit thro6h ! Iiti!. ;.ic Offer =IO> !fter 10 e!rs of o/er!tios"

I Octo;er *010, the secrities &!r<et re6.!tor, $ecrities ! E9ch!6e Bo!r of Ii! =$EBI>,

isse isc.osre or&s for Ii! 7ife Isr!ce Co&/!ies see<i6 to &!<e ! iiti!. /;.ic

offer for s!.e of eJit sh!res to the /;.ic"

 3"*Ii! .ife isr!ce istr o?er?ie@

A.. .ife isr!ce co&/!ies i Ii! h!?e to co&/. @ith the strict re6.!tios .!i ot ;

Isr!ce Re6.!tor ! De?e.o/&et Athorit of Ii! =IRDA>"

7ife Isr!ce Cor/or!tio of Ii! =7IC>, the st!te o@e ;ehe&oth, re&!is ; f!r the .!r6est

 /.!er i the &!r<et" The /ri?!te co&/!ies h!?e co&e ot @ith /rocts c!..e U7Is =Uit

7i<e I?est&et .!s> @hich offer ;oth .ife co?er !s @e.. !s sco/e for s!?i6s or i?est&et

o/tios !s the csto&er esires" These t/e of /.!s !re s;2ect to ! &ii&& .oc<-i /erio of 

three e!rs to /re?et &isse of the si6ific!t t!9 ;eefits offere to sch /.!s er the

Ico&e T!9 Act" Co&/!riso of sch /rocts @ith &t!. fs @o. ;e erroeos"

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 77C+%//%+! %!$*#*.%"$%+! **/

• The &!9i&& co&&issio .i&its !s /er st!ttor /ro?isios !re:

 7> A*!3 3+%//%+! +# #*$"% %* %!/'#"!3* ?'/%!*//:

• G- *5 for 1st e!r /re&i& if the /re&i& /!i6 ter& is &ore th! *0

e!rs

• G- 10 for 1st e!r /re&i& if the /re&i& /!i6 ter& is &ore th! 15

e!rs

• G- 10 for 1st e!r /re&i& if the /re&i& /!i6 ter& is .ess th! 10

e!rs

• G - r * ! 3r e!r ! 3"5 - there!fter for !.. /re&i& /!i6 ter&s"

I c!se of Mt!. f re.!te - Uit .i<e /o.icies it ?!ries ;et@ee 1"5 to + o the

 /re&i& /!i:

• M!9i&& ;ro<er co&&issio - 30

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• Referr!. fees to ;!<s Q M!9 55 for re6.!r /re&i& ! 10 for si6.e /re&i&"

Ho@e?er i ! c!se this fee c!ot ;e &ore th! the !6ec co&&issio !s fi.e er the

 /roct"

• Ho@e?er, the !;o?e co&&issio &! ;e frther s;2ect to the /roct @ise .i&its

s/ecifie ; IRDA @hi.e !//ro?i6 the /roct"

 Ch:-3 N!tio!. Isr!ce Co&/!

N"$%+!" I!/'#"!3* C+"! 6%%$*. =NIC7> is ! st!te o@e 6eer!. isr!ce co&/!

i Ii!" The co&/! he!J!rtere !t %o.<!t! @!s est!;.ishe i 10+ ! !tio!.ise i

1G* Its /ortofo.io cosists of ! &.tite of 6eer!. isr!ce /o.icies, offere to ! @ie !re!

of c.iets eco&/!ssi6 ifferet sectors of the ecoo&" A/!rt fro& ;ei6 ! .e!i6 isr!ce

 /ro?ier iIi!, NIC7 !.so ser?es  Ne/!."

Histor

After !tio!.is!tio i 1G*, NIC7 o/er!te !s ! s;sii!r of 'eer!. Isr!ce Cor/or!tio of 

Ii! ='IC>" NIC7 @!s s/ off !s ! istict co&/! er the 'eer!. Isr!ce Bsiess

=N!tio!.is!tio> A&e&et Act i *00*" I A/ri., *004, NIC si6e ! !6ree&et

@ith  N!iit!. B!<  for istri;tio of its 6eer!. isr!ce /rocts thro6h the ;!<s ;r!ches

i Utt!r!<h!, H!r!! ! Ne@ De.hi"

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Co&/! /rofi.e

 N!tio!. Isr!ce Co&/! 7i&ite @!s icor/or!te i Dece&;er +, 10+ @ith its Re6istere

office i %o.<!t!" CoseJet to /!ssi6 of the G*!*#" I!/'#"!3* B'/%!*// N"$%+!"%/"$%+!

A3$ %! 1=;2, *1 (orei6 ! 11 Ii! Co&/!ies @ere !&!.6!&!te @ith it ! N!tio!.

 ;ec!&e ! s;sii!r of 'eer!. Isr!ce Cor/or!tio of Ii! ='IC> @hich is f.. o@e ;

the 'o?er&et of Ii!" After the otific!tio of the 'eer!. Isr!ce Bsiess !s its Ii!s

.!r6est 6ic co&/!=N!tio!.is!tio> A&e&et Act, o G A6st *00*, N!tio!. h!s ;ee e-

.i<e fro& its ho.i6 co&/! 'IC ! /reset. o/er!ti6 !s ! ie/eet isr!ce

co&/! ,+ +!*. ? G+@$ + I!.%"" N!tio!. Isr!ce Co&/! 7t =NIC> is oe of the

.e!i6 /;.ic sector isr!ce co&/!ies of Ii!, c!rri6 ot o .ife isr!ce ;siess"

He!J!rtere i %o.<!t!, NICs et@or< of !;ot 1000 offices, &!e ; &ore th! 1+,000

s<i..e /ersoe., is s/re! o?er the .e6th ! ;re!th of the cotr co?eri6 re&ote rr!.

!re!s, to@shi/s ! &etro/o.it! cities" NICs forei6 o/er!tios !re c!rrie ot fro& its ;r!ch

offices i Ne/!." Befitti6., the /roct r!6es, of &ore th! *00 /o.icies offere ; NIC c!ter 

to the i?erse isr!ce reJire&ets of its 14 &i..io /o.icho.ers" Io?!ti?e ! csto&ise

 /o.icies esre th!t e?e s/eci!.ise isr!ce reJire&ets !re f.. t!<e c!re of" The /!i-/

sh!re c!/it!. of N!tio!. is 100 crores" $t!rti6 off @ith ! /re&i& ;!se of 50 crores i 1G4,

 NICs 6ross irect /re&i& ico&e h!s ste!i. 6ro@ to !;ot 000 crores r/ees i the

fi!ci!. e!r *01*-13" N!tio!. tr!s!cts 6eer!. isr!ce ;siess of (ire, M!rie !

Misce..!eos isr!ce" The Co&/! offers /rotectio !6!ist ! @ie r!6e of ris<s to its

csto&ers" The Co&/! is /ri?i.e6e to c!ter its ser?ices to !.&ost e?er sector or istr i

the Ii! Ecoo& ?iK" B!<i6, Te.eco&, A?i!tio, $hi//i6, Ifor&!tio Techo.o6, o@er,

Oi. Eer6, A6roo&, .!t!tios, (orei6 Tr!e, He!.thc!re, Te!, Ato&o;i.e, Ec!tio,

E?iro&et, $/!ce Rese!rch etc" As of *010, NIC7 h!s ! AAA  r!ti6 fro& Ii! r!ti6!6ec, CRI$I7,   ! s;sii!r of  $t!!r ! oors Co&/!")G)F The 6ross /re&i&s fro&

er@riti6 ; the co&/! 6re@ ; 3*"** to o?er +,100 crores ri6 the (i!ci!.

e!r  *010-*011" A 'ross re&i 6re@ / to 10,000 crores ri6 the fi!ci!. e!r *013-

*014") With this, the co&/! @!s r!<e seco !&o6 6eer!. isr!ce co&/!ies

o/er!ti6 i Ii!, ;ehi Ne@ Ii! Assr!ce, !t the e of the *014 (i!ci!. e!r ") With

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!;ot 1000 offices ! 1+,000 e&/.oees ! !6ets, the co&/! o/er!tes i !.. of Ii!, !

ei6h;ori6 Ne/!.")1 I *00F, the co&/! si6e ! e!. @ith HC7 Techo.o6ies@orth

!.&ost 400 crores to otsorce the co&/!s ifor&!tio techo.o6 reJire&ets o?er G

e!rs"

rocts ! ser?ices

 NIC7 h!s ! r!6e of co?er!6e /o.icies t!r6eti6 ifferet sectors

• erso!. Isr!ce /o.icies ic.e &eic!. isr!ce, !cciet, /ro/ert ! !to

isr!ce co?er!6e

• Rr!. Isr!ce /o.icies /ro?ie /rotectio !6!ist !tr!. ! c.i&!tic is!sters for 

!6ric.tre ! rr!. ;siesses

• Istri!. Isr!ce /o.icies /ro?ie co?er!6e for /ro2ect, costrctio, cotr!cts, fire,

eJi/&et .oss, theft, etc"

• Co&&erci!. Isr!ce /o.icies /ro?ie /rotectio !6!ist .oss ! !&!6e of /ro/ert

ri6 tr!s/ort!tio, tr!s!ctios, etc"

A@!rs

The Eter/rise h!s ;ee the reci/iet of ?!rios !@!rs ! !cco.!es ic.i6:

• Bsiess 7e!ershi/ A@!r, *01* ;SNDT# rofit

• Di6it!. Ic.sio A@!rs *01*,

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• To/ 100 CI$O A@!rs *01*,

• The Ii! Isr!ce A@!rs *013, 3r A!. Eitio, for -

• Best Uer-ser?e M!r<et eetr!tio,

• Istr Ch!&/io - 'eer!. Isr!ce - N$R Ch!r!/r!s!, CMD, NIC7"

C->6IFE INSURANCE CO-OPERATION IN

IN4IA

6%* I!/'#"!3* C+#+#"$%+! + I!.%" =6IC> is ! Ii! st!te-o@e isr!ce

6ro/ ! i?est&et co&/! he!J!rtere iM&;!i" It is the .!r6est isr!ce co&/! i

Ii! @ith ! esti&!te !sset ?!.e of 15+04F* crore =U$L*40 ;i..io>" As of *013 it h! tot!.

.ife f of Rs"1433103"14 crore @ith tot!. ?!.e of /o.icies so. of 3+G"F* .!<h th!t e!r"

The co&/! @!s foe i 15+ @he the !r.i!&et of Ii! /!sse the 7ife Isr!ce of 

Ii! Act th!t !tio!.ise the /ri?!te isr!ce istr i Ii!" O?er *45 isr!ce co&/!ies

! /ro?iet societies @ere &er6e to cre!te the st!te o@e 7ife Isr!ce Cor/or!tio"

F+'!.%!

The Oriet!. 7ife Isr!ce Co&/!, the first co&/! i Ii! offeri6 .ife isr!ce

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co?er!6e, @!s est!;.ishe i C!.ctt! i 1F1F ; Bi/i Beh!ri D!s6/t! ! others" Its /ri&!r

t!r6et &!r<et @!s the Ero/e!s ;!se i Ii!, ! it ch!r6e Ii!s heftier /re&i&s"

)3 $rer!!th T!6ore =so of $!ter!!th T!6ore> h! foe Histh! Isr!ce

$ociet, @hich .!ter ;ec!&e 7ife Isr!ce Cor/or!tio")4

The Bo&;! Mt!. 7ife Assr!ce $ociet, for&e i 1FG0, @!s the first !ti?e isr!ce

 /ro?ier" Other isr!ce co&/!ies est!;.ishe i the /re-ie/eece er! ic.e

• ost!. 7ife Isr!ce =7I> @!s itroce o 1 (e;r!r 1FF4

• Bh!r!t Isr!ce Co&/! =1F+>

•

Uite Ii! =10+>

•  N!tio!. Ii! =10+>

•  N!tio!. Isr!ce =10+>

• Co-o/er!ti?e Assr!ce =10+>

• Hist! Co-o/er!ti?es =10G>

• Ii! Merc!ti.e

• 'eer!. Assr!ce

• $@!eshi 7ife =.!ter Bo&;! 7ife>

• $!h!ri Isr!ce =Mer6e ito 7IC, 1F+>

The first 150 e!rs @ere &!r<e &ost. ; tr;.et ecoo&ic coitios" It @itesse,  Ii!s

(irst W!r of Ie/eece, !?erse effects of the Wor. W!r I ! Wor. W!r II o the ecoo&

of Ii!, ! i ;et@ee the& the /erio of @or. @ie ecoo&ic crises tri66ere ; the 're!t

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e/ressio"   The first h!.f of the *0th cetr !.so s!@ ! hei6htee str66.e for Ii!s

ie/eece" The !66re6!te effect of these e?ets .e to ! hi6h r!te of ! .iJi!tio of .ife

isr!ce co&/!ies i Ii!" This h! !?erse. !ffecte the f!ith of the 6eer!. /;.ic i the

ti.it of o;t!ii6 .ife co?er"

N"$%+!"%/"$%+! %! 1=55

7IC So!. Office, !t Co!6ht .!ce, Ne@ De.hi, esi6e ; Ch!r.es Corre!, 11"

7IC Bi.i6 !t Che!i, @!s the t!..est ;i.i6 i Ii! @he it @!s i!6r!te i 15I

155, /!r.i!&et!ri! A&o. B!r!te r!ise the &!tter of isr!ce fr! ; o@ers of /ri?!te

isr!ce !6ecies" I the esi6 i?esti6!tios, oe of Ii!s @e!.thiest ;siess&e, $!chi

De?<e<!r, o@er of the Ti&es of Ii! e@s/!/er, @!s set to /riso for t@o e!rs"

E?et!.., the !r.i!&et of Ii! /!sse the 7ife Isr!ce of Ii! Act o e 1, 15+

cre!ti6 the 7ife Isr!ce Cor/or!tio of Ii!, @hich st!rte o/er!ti6 i $e/te&;er of th!t

e!r" It coso.i!te the .ife isr!ce ;siess of *45 /ri?!te .ife isrers ! other etities

offeri6 .ife isr!ce ser?ices, this cosiste of 154 .ife isr!ce co&/!ies, 1+ forei6

co&/!ies ! G5 /ro?iet co&/!ies" The !tio!.is!tio of the .ife isr!ce ;siess i

Ii! @!s ! res.t of the Istri!. o.ic Reso.tio of 15+, @hich h! cre!te ! /o.ic

fr!&e@or< for e9tei6 st!te cotro. o?er !t .e!st se?etee sectors of the ecoo&, ic.i6

.ife isr!ce"

G#+$,

(ro& its cre!tio, the 7ife Isr!ce Cor/or!tio of Ii!, @hich co&&!e !  &oo/o. of 

so.iciti6 ! se..i6 .ife isr!ce i Ii!, cre!te h6e sr/.ses, ! ; *00+ @!s

cotri;ti6 !ro G of Ii!s 'D"

The Cor/or!tio, @hich st!rte its ;siess @ith !ro 300 offices, 5"G &i..io /o.icies !

! cor/s of INR 45" crores =U$L* &i..io !s /er the 15 e9ch!6e r!te of ro6h. 5 for 

U$L1>,)5 h! 6ro@ to *5,000 ser?ici6 !ro 350 &i..io /o.icies ! !  cor/s of o?er

F00000 crore =U$L130 ;i..io> ; the e of the *0th cetr"

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6%?*#"%/"$%+!

I A6st *000, the Ii! 'o?er&et e&;!r<e o ! /ro6r!& to .i;er!.ise the Isr!ce

$ector ! o/ee it / for the /ri?!te sector" Iroic!.., 7IC e&er6e !s ! ;eefici!r fro& this

 /rocess @ith ro;st /erfor&!ce, !.;eit o ! ;!se s;st!ti!.. hi6her th! the /ri?!te sector"

I *013 the (irst e!r re&i& co&/o !!. 6ro@th r!te =CA'R> @!s *4"53 @hi.e Tot!.

7ife re&i& CA'R @!s 1"*F &!tchi6 the 6ro@th of the .ife isr!ce istr ! !.so

ot/erfor&i6 6eer!. ecoo&ic 6ro@th"

rocts ! ser?ices

7IC offers ! ?!riet of isr!ce /rocts to its csto&ers sch !s isr!ce /.!s, /esio

 /.!s, it-.i<e /.!s, s/eci!. /.!s ! 6ro/ sche&es")G

O/er!tios

To!,the 7IC h!s F Ko!. offices, !ro 10 i?isio!. offices, *,04F ;r!ches ! * s!te..ite

offices ! cor/or!te offices)1

 it !.so h!s 54 csto&er Koes ! *5 &etro-!re! ser?ice h;s.oc!te i ifferet cities ! to@s of Ii!" It !.so h!s ! et@or< of 1,33G,0+4 ii?i!.

!6ets, *4* Cor/or!te A6ets, G Referr!. A6ets, F Bro<ers ! 4* B!<s for so.iciti6 .ife

isr!ce ;siess fro& the /;.ic"

$.o6!

7ICs s.o6! o6!<she&!& ?!h!&!h! is i $!s<rit  .!6!6e @hich tr!s.!tes i E6.ish !s

or @e.f!re is or res/osi;i.it" This is eri?e fro& !ciet Hi te9t, the Bh!6!?! 'it!s

th ch!/ter, ** ?erse")F The s.o6! c! ;e see i the .o6o, @ritte i De?!!6!riscri/t"

A@!rs ! reco6itios

• The Ecoo&ic Ti&es Br! EJit $r?e *01* r!te 7IC !s the No" + Most Trste

$er?ice Br! of Ii!")

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• (ro& the e!r *00+, 7IC h!s ;ee cotios. @ii6 the Re!ers Di6est Trste

 ;r! !@!r")10

• #ote Ii!s Most Trste ;r! i the B($I c!te6or !ccori6 to the Br! Trst

Re/ort for 4 cotios e!rs - *011-*014 !ccori6 to the Br! Trst Re/ort)

E&/.oees ! A6ets

As o 31 M!rch *014, 7IC h! 1,*0,3FF e&/.oees, ot of @hich *4,F+G @ere @o&e =*0"+5>"

C"$*+# + *+**/ T+$" N'?*# N+ + 9+*!

C.!ss-I Officers 31,4*0 +,**

De?e.o/&et Officers *+,+*1 1,033

C.!ss IIII# e&/.oees +*,34G 1G,54*

Tot!. 1,*0,3FF *4,F+G

A /

7IC h! 11,5,1+ !6ets !s o 31 M!rch *014, ot of @hich the &;er of !cti?e !6ets @ere

11,3*,+GG =4"G1>"

G+.*! J'?%** F+'!."$%+!

7IC 'o.e ;i.ee (o!tio @!s est!;.ishe i *00+ !s ! ch!rit or6!iK!tio" This etit h!s

the !i& of /ro&oti6 ec!tio, !..e?i!tio of /o?ert, ! /ro?ii6 ;etter .i?i6 coitios for

the er /ri?i.e6e" Ot of !.. the !cti?ities cocte ; the or6!is!tio, 'o.e ;i.ee

$cho.!rshi/ !@!rs is the ;est <o@" E!ch e!r, this !@!r is 6i?e to the &eritorios stets

i st!!r PII of schoo. ec!tio or eJi?!.et, @ho @ish to cotie their sties ! h!?e !

 /!ret!. ico&e .ess th! 100000 =U$L1,+00>"

I Ne@s : A;ot ho.i6s i ?!rios co&/!ies

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7IC ho.s sh!res @orth !;ot Rs *"33 .!<h crore i !.. the Nift co&/!ies /t to6ether, ;t it

.o@ere its ho.i6 i ! tot!. of *G Nift co&/!ies ri6 the J!rter"

The c&.!ti?e ?!.e of 7IC ho.i6 i these *G co&/!ies fe.. ; .itt.e o?er Rs F,000 crore

ri6 the J!rter sho@s the !!.sis of ch!6es i their sh!reho.i6 /!tters"

Ii?i!.., 7IC is esti&!te to h!?e so. sh!res @orth Rs 500-1,000 crore i e!ch of M!hir!

M!hir!, HD(C B!<, ICICI B!<, T!t! Motors, 7T, HD(C, Wi/ro, $BI, M!rti $K<i,

Dr Res ! B!2!2 Ato"

The isr!ce ;ehe&oth !.so tri&&e ho.i6s i A&;2! Ce&ets, Ci/.!, TC$, 7/i !

Asi! !its" A &!r6i!. ec.ie @!s !.so @itesse i its st!<es i co&/!ies sch !s ID(C,

Hist! Ui.e?er, 'r!si&, ACC, BC7, B!< of B!ro!, 2!; N!tio!. B!<, $ h!r&!

! T!t! o@er"

O the other h!, 7IC frther r!&/e / its st!<e i ! tot!. of 14 Nift costitets @ith

 /rch!se of sh!res @orth ! esti&!te Rs 4,000 crore"

The &!2or co&/!ies @here 7IC h!s r!ise its st!<e ic.e Ifoss, RI7,Co!. Ii! 7t !

C!ir Ii!" Other sch co&/!ies !re ITC, o@er 'ri Cor/, NTC, $ie&es, Bh!rti Airte. !

Hero MotoCor/"

The st!te-r isrer !.so &!r6i!.. hi<e its e9/osre i U.tr!tech, '!i. Ii!, R!;!9, %ot!< 

M!hir! B!< ! HC7 Techo.o6ies, @hi.e its sh!reho.i6 re&!ie !.&ost ch!6e i

co&/!ies .i<e ON'C, T!t! $tee., BHE7 ! Re.i!ce Ifr!"

 CH-5 'eer!. Isr!ce Cor/or!tio of Ii!

GIC + I!.%" (GIC R*) is the so.e reisr!ce co&/! i the Ii! isr!ce &!r<et @ith

o?er for ec!es of e9/eriece"

'IC Re h!s its re6istere office ! he!J!rters i M&;!i"

Histor

The etire 6eer!. isr!ce ;siess i Ii! @!s !tio!.ise ; the 'o?er&et of 

Ii! ='OI> thro6h the 'eer!. Isr!ce Bsiess =N!tio!.is!tio> Act ='IBNA> of 1G*" 55

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Ii! isr!ce co&/!ies ! 5* other 6eer!. isr!ce o/er!tios of other co&/!ies @ere

!tio!.iKe thro6h the !ct")*

The 'eer!. Isr!ce Cor/or!tio of Ii! ='IC> @!s for&e i /rs!ce of $ectio =1> of 

'IBNA" It @!s icor/or!te o ** No?e&;er 1G* er the Co&/!ies Act, 15+ !s ! /ri?!teco&/! .i&ite ; sh!res" 'IC @!s for&e to cotro. ! o/er!te the ;siess of 6eer!.

isr!ce i Ii!"

The 'OI tr!sferre !.. the !ssets ! o/er!tios of the !tio!.iKe 6eer!. isr!ce

co&/!ies to 'IC ! other /;.ic-sector isr!ce co&/!ies" After ! /rocess of &er6ers !

coso.i!tio, 'IC @!s re-or6!iKe @ith for f.. o@e s;sii!r co&/!ies: N!tio!.

Isr!ce Co&/! 7i&ite, Ne@ Ii! Assr!ce Co&/! 7i&ite, Oriet!.

Isr!ce Co&/! 7i&ite !Uite Ii! Isr!ce Co&/! 7i&ite"

'IC ! its s;sii!ries h! ! &oo/o. o the 6eer!. isr!ce ;siess i Ii! ti. the

.!&!r< Isr!ce Re6.!tor ! De?e.o/&et Athorit Act =IRDA Act> of 1 c!&e ito

effect o 1 A/ri. *000" This !ct !.so !&ee the 'IBNA Act ! Isr!ce Act of 13F" The

!ct !.o6 @ith the !&e&ets ee the &oo/o. of 'IC ! its s;sii!ries ! .i;er!.iKe

the isr!ce ;siess i Ii!"

I No?e&;er *000, 'IC @!s reotifie !s Ii!s Reisrer, ;t its s/er?isor ro.e o?er its

s;sii!ries @!s ee" This @!s fo..o@e ; the 'eer!. Isr!ce Bsiess =N!tio!.is!tio>A&e&et Act of *00*" Co&i6 ito effect fro& *1 M!rch *003, this !&e&et ee 'ICs

ro.e !s ! ho.i6 co&/! of its s;sii!ries" The o@ershi/ of the s;sii!ries @!s tr!sferre

to the 'o?er&et of Ii!"

As ! res.t of these refor&s, 'IC ;ec!&e the so.e Re-Isrer i Ii!, ! is o@ c!..e GIC

R*" Ii! isr!ce co&/!ies !re reJire ; .!@ to cee 5 of e?er /o.ic ?!.e to 'IC Re

@"e"f" 1 A/ri. *013, s;2ect to so&e .i&it!tios ! e9ce/tios" 'IC Re h!s i?ersifie its

o/er!tios ! is o@ e&er6i6 !s ! i&/ort!t Re-Isrer i $AARCcotries, $othe!stAsi!, Mi.e E!st ! Afric!, Ero/e ! A&eric!" 'IC Re h!s !.so e9/!e its iter!tio!.

o/er!tios thro6h ;r!ches i 7oo, Mosco@, D;!i ! %!.! 7&/r ! is frther 

 /.!i6 to est!;.ish offices i <e re6ios"

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As of *01* 'IC Re r!<e 15th .!r6est Reisrer ! 5th .!r6est A?i!tio Reisrer i the @or.

=$ R!ti6s>" 'IC Re h!s ! r!ti6 of A- =E9ce..et> fro& A" M" Best for its fi!ci!.

stre6th" As of *014 'IC Re h!s ;ee !ssi6e N!tio!. $c!.e AAA Re.i!;i.it R!ti6 A

'.o;!. $c!.e iA- Creit R!ti6 ; Rssi! N!tio!. R!ti6 A6ec =NRA>"

CH:5 Ne@ Ii! Assr!ce Co&/!

T,* N* I!.%" A//'#"!3* C+ 6$., ;!se i M&;!i, is oe of the fi?e Who.. 'o?er&et of 

Ii! o@e !ssr!ce co&/!ies of Ii!")4 It is the .!r6est 6eer!. isr!ce co&/!

of Ii! o the ;!sis of 6ross /re&i& co..ectio ic.si?e of forei6 o/er!tios" " )5 It @!s

foe ; $ir Dor!;2i T!t! i 11, ! @!s !tio!.ise i 1G3"

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re?ios. it @!s ! s;sii!r of the 'eer!. Isr!ce Cor/or!tio of Ii! ='IC>" Bt @he

'IC ;ec!&e ! re-isr!ce co&/! !s /er the IRDA Act 1, its for /ri&!r isr!ce

s;sii!ries N* I!.%" A//'#"!3*, Uite Ii! Isr!ce, Oriet!. Isr!ce ! N!tio!.

Isr!ce 6ot !too&"

 Ne@ Ii! Assr!ce o/er!tes ;oth i Ii! ! forei6 cotries" I the recet /!st it h!s

co..!;or!te @ith so&e of the .e!i6 /;.ic sector ;!<s of Ii! sch !s  $t!te B!< of 

Ii!, Cetr!. B!< of Ii!, Cor/or!tio B!<  ! Uite Wester B!<  to icre!se its

istri;tio et@or<"

Offices

The co&/! @ith its cor/or!te office i M&;!i h!s !;ot 31 re6io!. offices, 3G i?isio!.

offices, 5FF ;r!ches, *G irect !6et ;r!ches ! *3 e9tesio coters i the e!r *011-*01*

The &;er of re6io!. offices of the co&/! i the e!r *011 stoo !t *F, @ith &eros other 

offices o@ the hier!rch of i?isio!. offices, ;r!ch offices, irect !6ets ;r!ches, &icro

offices" Cetr!.ise c.!i& /rocessi6 offices c!..e c.!i&s h;s !re o/er!te fro& * .oc!tios"

Its o?erse!s offices for the e!r *011-*01* cosiste of 1 ;r!ches, se?e !6ecies, for 

!ssoci!te co&/!ies ! three s;sii!r co&/!ies s/re! o?er *3 cotries"

Bsiess erfor&!ce

The o&estic 6ross /re&i& /rocre for the /erio fro& A/ri. *013 to M!rch *014 @!s

Rs"11,540 crore @ith ! 6ro@th of 15"00, @he co&/!re to the s!&e corres/oi6 /erio

 /ert!ii6 to /re?ios fi!ci!. e!r ! the 6.o;!. #+// #*%' /$++. "$ R/1>D70>

3#+#*/ @ith ! 6ro@th of 14"40 o?er /re?ios e!r" The co&/! /oste AT =rofit After T!9>

of Rs"10F crores" The co&/! /!i ! i?ie of Rs"**0 crores to the 'o?er&et of Ii! for 

the fisc!. 13-14"Di?ie /!i to 'o?er&et of Ii!"

The st!te o@e co&/!s !chie?e&ets ic.e

1> rocre&et of hi6hest '.o;!. 'ross re&i& of Rs"14,304 crores for the e!r *013-*014"

M!it!ii6 the .!r6est 6eer!. Isrer i Ii! t!6"

*> M!r<et .e!ershi/ /ositio for for cosecti?e ec!es

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e9/eriece i No-.ife Isr!ce ;siess ! @!s for&e to its /reset for& ; the &er6er of 

** co&/!ies, coseJet to the !tio!.is!tio of 'eer!. Isr!ce co&/!ies i Ii!"

A;ot the co&/!

Uite Ii! Isr!ce Co&/! 7i&ite @!s icor/or!te !s ! Co&/! o 1F (e;r!r 13F"

'eer!. Isr!ce Bsiess i Ii! @!s !tio!.iKe i 1G*" A tot!. of 1* Ii! Isr!ce

Co&/!ies, 4 Coo/er!ti?e Isr!ce $ocieties ! Ii! o/er!tios of 5 (orei6 Isrers,

 ;esies 'eer!. Isr!ce o/er!tios of sother re6io of 7ife Isr!ce Cor/or!tio of 

Ii! @ere &er6e @ith Uite Ii! Isr!ce Co&/! 7i&ite" After !tio!.iK!tio the

co&/! h!s 6ro@ ; .e!/s ! ;os ! h!s ! @or<force of !;ot 1F000 e&/.oees s/re!

!cross &ore th! 1+00 offices /ro?ii6 isr!ce co?er to &ore th! * Crore /o.ic ho.ers"

The Co&/! h!s ?!riet of isr!ce /rocts to /ro?ie isr!ce co?er r!6i6 fro& ;..oc< 

c!rts to s!te..ites"

Uite Ii! Isr!ce Co&/! h!s ;ee i the forefrot of esi6i6 ! i&/.e&eti6

co&/.e9 co?ers to .!r6e csto&ers, !s i c!ses of  ON'C 7t, 'MR- Her!;! Iter!tio!.

Air/ort 7t, M&;!i Iter!tio!. Air/ort 7t Tir&!.!-Tir/!ti De?!sth!!& etc" It h!s ;ee!.so the /ioeer i t!<i6 Isr!ce to rr!. &!sses @ith .!r6e .e?e. i&/.e&et!tio of Ui?ers!.

He!.th Isr!ce ro6r!&&e of 'o?er&et of Ii!  #i2!! R!2i !!i %!.! o2!!

= co?eri6 45 .!<hs @o&e i the st!te of  M!h! r!esh>, Ts!&i ! Bi&! o2!! =i 4

st!tes co?eri6 4"5 .!<hs of f!&i.ies>, N!tio!. 7i?estoc< Isr!ce ! &! sch sche&es"

OfficesUite Ii! Isr!ce Co&/! he!J!rtere !t Che!i h!s &ore th! 1+00 offices

cosisti6 of *+ Re6io!. Offices, F 7!r6e Cor/or!te Offices ! se?er!. i?isio!., ;r!ch !

&icro offices" The co&/! h!s !.so ;ee o/er!ti6 .!r6e &;er of $er?ice ! T h;s for 

eic!te ser?ice to &otor /o.ic c.!i&s ! re.!te !ssist!ce"

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rofit ! /erfor&!ce

The Uite Ii! Isr!ce re/orte ! si6ific!t 2&/ i its /rofit !fter t!9 !t Rs 5*F crore for 

the fi!ci!. e!r *013-14" 'ross /re&i& co..ecte for the e!r stoo !t +0 crores, / ;

!;ot G fro& the /re?ios e!r" Net @orth of the co&/! !.so @itesse ! ste! icre!se to

53+1 crores

Dri6 the h!.f-e!r /erio ee $e/te&;er 30, *011, the co&/! co..ecte ! tot!. /re&i&

of Rs 4,033 crore, / ; *G /er cet fro& Rs 3,1GF crore i the e!r-!6o /erio" We h!?e set !

t!r6et /re&i& of Rs F,000 crore this e!r, he s!i" O /.!s for the e!r *011-1*, he s!i the

co&/! @o. focs o ret!i., &icro-s&!.. ! &ei& eter/rises ! rr!. isr!ce

se6&ets" We @i.. focs o !6ec ch!e. ! ;!c!ssr!ce" A6ec ch!e. cotri;te 40

 /er cet ! ;!c!ssr!ce G /er cet =i the first h!.f of the e!r>" We e9/ect it to icre!se i the

e!rs to co&e, he s!i" Re/.i6 to ! Jestio, he s!i the co&/! @o. ;i for the T!&i.

 N! 6o?er&ets he!.th isr!ce sche&e" The i?est&et ico&e of the co&/! for the

first-h!.f of the e!r stoo !t o?er Rs F03 crore !s of $e/te&;er 30, *011"

A stee/ rectio i &!!6e&et e9/eses =to *5 fro& 3G> c.!i&s ot6o ! ! icre!se i

 /re&i& ico&e !cross se6&ets h!s e!;.e the co&/! to /ost 5G /ercet 6ro@th i et

 /rofit for the first h!.f of the crret fisc!." Uite Ii! e!re Rs"F03 crore fro& its

i?est&ets ri6 the first si9 &oths of the *011-1*" The &!r<et ?!.e of the co&/!si?est&ets !t the e of seco J!rter stoo !t Rs"15,F03 crore

(tre /.!s

7o66i6 ! !?er!6e ;siess 6ro@th of *G /ercet i *011-1*, Ii!s .e!i6 o-.ife isrer 

Uite Ii! Isr!ce Co&/! 7t ec.!re th!t it is t!r6eti6 ! 6ross /re&i& of Rs"10,000

crore i fisc!. e!r *013-14 ! siKe!;.e rectio i er@riti6 .osses - /re&i& .ess c.!i&s

ot6o - to Rs"00 crore fro& .!st e!rs fi6re of Rs"1,G+0 crore"

The co&/! @o. focs the ret!i., ! s&!.. ! &ei& eter/rises =$ME> se6&ets for 

6ro@th" It is i the /rocess of !i6 frther to its 4F,000 !6ets ! !.so to o/e !ro 100

oe-&! offices !cross the cotr" Crret., there !re 400 sch &icro-offices ;ri6i6 i

!ro Rs"*G5 crore /re&i&"

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Co&/! is @!iti6 for !//ro?!. fro& the isr!ce re6.!tor IRDA to itroce three /rocts

er the he!.th /ortfo.io

rocts

P*#/+!" +%3%*/

• Hoseho.er 

• erso!. !cciet

• Meic.!i&

• Ui&eic!re

• Bh!?ish! !ro6!

C+*#3%" +%3%*/

• (ire isr!ce

• M!rie isr!ce

• Motor isr!ce

• Istri!. isr!ce

• 7i!;i.it isr!ce

A@!rs ! reco6itios

Uite Ii! @is The $<och (i!ci!. Ic.sio A@!r *013 for M-o@er /ro2ect i the ICT

 ;!se io?!tio c!te6or" M-o@er is ! /re&i& /!&et ser?ice ri6 thro6h &o;i.e"

Uite Ii! 6ets $<och !@!r *010: Uite Ii! Isr!ce Co&/! h!s @o the !@!r for 

sccessf. i&/.e&et!tio of the fi!ci!. ic.sio iiti!ti?es" The co&/! h!s i&/.e&ete

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the R!shtri! $@!sth! Bi&! o2!! i %er!.!" $<och !@!rs, istri;te ; $<och Cos.t!c

$er?ices, !re &e!t to hoor e9tr!ori!r !chie?e&ets i 6o?er!ce, c!/!cit ;i.i6,

e&/o@er&et, ic.si?e 6ro@th, citiKe ser?ices e.i?er, techo.o6, !c!e&ics ! ch!6e

&!!6e&et"

  Uite Ii! Isr!ce Co&/! h!s ;ee se.ecte !s oe !&o6 the to/ three 'eer!.

isr!ce co&/!ies i Asi! ; Asi! Isr!ce Re?ie@ !t the 14th Asi! Isr!ce Istr

A@!rs he. i B!.i, Ioesi!"

Uite Ii! Isr!ce Co" 7t" h!s ;ee !@!re the Best No-7ife Isr!ce Co&/!

 ; NDT# rofit-Bsiess 7e!ershi/ A@!rs *010"

Uite Ii! Isr!ce Co" 7t" h!s ;ee !@!re iAAA r!ti6 for its c.!i&s /!i6 !;i.it

 ; ICRA =I?est&et Ifor&!tio ! Creit R!ti6 A6ec> for the thir sccessi?e e!r" This

r!ti6 iic!tes co&/!s hi6hest c.!i&s /!i6 !;i.it, its stro6 f!&et!. ! its o?er!..

fi!ci!. stre6th for &eeti6 the /o.ic ho.ers o;.i6!tios"

Cest, oe of Ii!s /re&ier IT &!6!Kies h!s se.ecte M7$ #N  /ro2ect of UIIC !s oe of 

the ;est i&/.e&ete IT /ro2ects i the e!r *00G" The et!i.s of the s!&e !re /;.ishe i the

e *00G isse of the Cest &!6!Kie" M7$ #N /ro2ect of UIIC @!s se.ecte !fter !

ri6oros screei6 /rocess i @hich *50 IT /ro2ects of ?!rios co&/!ies i the cotr @ere

e?!.!te" $;seJet., ! 2r of e&iet /erso!.ities se.ecte the to/ *1 IT /ro2ectsi&/.e&ete i *00G, i @hich the M7$ /ro2ect of UIIC fi6res /ro&iet."

 Ne@ Ch!..e6es

U$ resiet B!r!c< O;!&! i Ii!" Isrers to offer Rs G50 crore c!/!cit for c.e!r /oo. i

Ii!"

The Re/;.ic D! ?isit of U$ resiet B!r!c< O;!&!, to Ii!, h!s ;ro6ht e@ ch!..e6es to

the Ii! 'o?er&et o@e 6eer!. isr!ce istr, @ith c.e!r eer6 ris< c!//i6"The

 /ro/ose c.e!r ris< /oo. th!t @i.. ;e set / i Ii! @i.. h!?e fi?e 6o?er&et-o@e

isr!ce co&/!ies 'eer!. Isr!ce Cor/or!tio of Ii! ='IC>, Ne@ Ii!

Assr!ce,Oriet!. Isr!ce, N!tio!. Isr!ce ! Uite Ii! Isr!ce /ro?ii6 h!.f the

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c!/!cit for the Rs 1,500-crore /oo." The rest @i.. co&e fro& the cetr!. 6o?er&et" It is &e!t

to isre the ris<s fro& c.e!r re!ctors" There @i.. ;e co?er for ;oth hot Koes =r!i!tio !

c.e!r re!ctors> ! co. Koes =otsie re!ctor !re!s>" At /reset, c.e!r re!ctors i Ii! h!?e

co?ers for Koes otsie the !re! of r!i!tio ! c.e!r re!ctors" This is e to the .!c< of 

er@riti6 !t! o the .i!;i.it for hot Koes" Oce the /oo. is i /.!ce, the /re&i&s @i.. 6o

ito the /oo., ! co?er for hot Koes ! its .i!;i.ities @i.. ;e /ro?ie"

I *010, !r.i!&et /!sse the C7ND Act, @hich cre!tes ! .i!;i.it c!/ for c.e!r /.!t

o/er!tors for ecoo&ic !&!6e i the e?et of ! !cciet" It !.so .e!?es c.e!r s//.iers free

of &ost .i!;i.it" Istr e9/erts h! s!i ;oth c.e!r o/er!tors ! s//.iers sho. ;e 2oit.

he. .i!;.e for ci?i. !&!6es i c!se of ! !cciet"

The Act !.so /ro?ies for st!te-r Nc.e!r o@er Cor/or!tio of Ii!, @hich o/er!tes !.. the

!to&ic /o@er /.!ts i Ii!, to see< co&/es!tio fro& s//.iers i c!se of ! !cciet e to

f!.t eJi/&et" The %!<.!& Nc.e!r o@er .!t iT!&i. N!, the *1st !to&ic re!ctor 

i Ii!, @i.. ot ;e co?ere er this /oo. ;ec!se its cotr!ct @!s si6e &ch ;efore the Act

@!s /!sse" Ho@e?er, this /.!t h!s ;ee co?ere for its o-r!i!tio or co. Koes"

ri&e Miister   N!rer! Moi i his st!te&et !t the 2oit /ress iter!ctio @ith

resiet B!r!c< O;!&! of Uite $t!tes of A&eric!,  s!i th!t the Ii!QUite $t!tes Ci?i.

 Nc.e!r A6ree&et, @!s the ceter/iece of or =Ii!-U$> tr!sfor&e re.!tioshi/,

e&ostr!ti6 e@ trst"

 N!tio!. re-isrer 'eer!. Isr!ce Cor/or!tio ='IC Re> /.!s to isse isr!ce-.i<e

 ;os to r!ise Rs" G50 crore for cre!ti6 c!/!cit for the /ro/ose Ii! Nc.e!r Isr!ce

oo." After ;re!<thro6h i the U$-Ii! ci?i. c.e!r e!., the 6o?er&et h!s !s<e 'IC Re to

esre th!t the /oo. is o/er!tio!. i&&ei!te." (o..o@i6 the @ithr!@!. of isr!ce !

reisr!ce c!/!cit ; forei6 re-isrers for terroris& ris<, i the iter!tio!. &!r<et

 /ost 11, !.. the o-.ife isrers i Ii!, !.o6 @ith the 'IC Re, est!;.ishe the Terroris&

oo. i *00* to co?er /ro/ert !&!6e ! coseJeti!. .oss !risi6 ot of ! terror stri<e"

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 CH:G Isr!ce Re6.!tor ! De?e.o/&et Athorit of Ii!

I!/'#"!3* R*'"$+# "!. 4*@*+*!$ A'$,+#%$ + I!.%" =IRDA> is ! !too&os !/e9

st!ttor ;o @hich re6.!tes ! e?e.o/s the isr!ce istr i Ii!" It @!s costitte

 ; ! !r.i!&et of Ii! !ct c!..e Isr!ce Re6.!tor ! De?e.o/&et Athorit Act, 1

! . /!sse ; the 'o?er&et of Ii!"

The !6ec o/er!tes fro& its he!J!rters !t Her!;!, Te.!6!! @here it shifte

fro& De.hi i *001"

IRDA ;!tte for ! hi<e i the forei6 irect i?est&et =(DI> .i&it to 4 /er cet i the isr!ce

sector fro& the erst@hi.e *+ /er cet The (DI .i&it i isr!ce sector @!s r!ise to 4 i .

*014"

Histor

The IRDA Act, 1 @!s /!sse !s /er the &!2or reco&&e!tio of the M!.hotr!

Co&&ittee re/ort =G 2!,14> @hich reco&&ee est!;.ish&et of ! ie/eet re6.!tor

!thorit for isr!ce sector i Ii!" 7!ter, It @!s icor/or!te !s ! st!ttor ;o i A/ri.,

*000" The IRDA Act, 1 !.so !..o@s /ri?!te /.!ers to eter the isr!ce sector i Ii!

 ;esies ! &!9i&& forei6 eJit of *+ /er cet i ! /ri?!te isr!ce co&/! h!?i6

o/er!tios i Ii!" The Isr!ce Bi.. /ro/oses to r!ise the (DI .i&it i isr!ce sector to 4"

ro/ose ; UA 6o?er&et i . *013, it is sti.. /ei6 iscssio i R!2! $!;h!" It

ser?es !s ! Athorit to /rotect the iterests of ho.ers of isr!ce /o.icies, to re6.!te,

 /ro&ote ! esre orer. 6ro@th of the isr!ce istr ! for &!tters coecte

there@ith" IRDA ro.e is to /rotect ri6hts of /o.ic ho.ers the /ro?ie re6istr!tio

certific!tio to .ife isr!ce co&/!ies res/osi;.e for ree@!., &oific!tio, c!ce..!tio

ss/esio of this re6istere certific!te

Or6!iK!tio!. strctre or Co&/ositio of Athorit

As /er the sectio 4 of IRDA Act 1, Isr!ce Re6.!tor ! De?e.o/&et Athorit

=IRDA, @hich @!s costitte ; ! !ct of /!r.i!&et> s/ecif the co&/ositio of 

Athorit"IRDA is ! te &e&;er ;o cosisti6 of:

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• A Ch!ir&!,-=T"$" #i2!!>

• (i?e @ho.e-ti&e &e&;ers,-=R"%" N!ir,M" R!& r!s!,$" Ro Cho@h!r,D"D" $i6h>

• (or /!rt-ti&e &e&;ers,-=A/ W!h!@!,$"B" M!thr,rof" #"%"'/t!,CA" $;oh

%r" A6!r@!.>

A.. &e&;ers !re !//oite ; the 'o?er&et of Ii!"

Isr!ce Re/ositor

Isr!ce Re/ositor is ! f!ci.it to he./ /o.ic ho.ers ; ! <ee/ isr!ce /o.icies i

e.ectroic for&, r!ther th! !s ! /!/er oc&et" Isr!ce Re/ositories, .i<e $h!re De/ositories

or &t!. f Tr!sfer A6ecies, @i.. ho. e.ectroic recors of isr!ce /o.icies isse to

ii?i!.s ! sch /o.icies !re c!..e e.ectroic /o.icies or e o.icies"

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CH:F A6ric.tr!. isr!ce i Ii!

A6ric.tre i Ii! is hi6h. ssce/ti;.e to ris<s .i<e ro6hts ! f.oos" It is ecess!r to

 /rotect the f!r&ers fro& !tr!. c!.!&ities ! esre their creit e.i6i;i.it for the e9t se!so"

(or this /r/ose, the 'o?er&et of Ii! itroce &! !6ric.tr!. sche&es thro6hot the

cotr"

Co&/rehesi?e Cro/ Isr!ce $che&e=CCI$>

The Co&/rehesi?e Isr!ce $che&e =CI$> co?ere 15 st!tes ! * io territories"!rtici/!tio i the sche&e @!s ?o.t!r" Aro 5 &i..io f!r&ers ! ;et@ee F- &i..io

hect!res @ere !!.. co?ere ; this sche&e" If the !ct!. ie. i ! !re! co?ere ; the

sche&e fe.. short of the 6!r!tee ie., the f!r&ers @ere etit.e to !ie&it o

co&/es!tio to the e9tet of the shortf!.. i ie." The 'eer!. Isr!ce Cor/or!tio of Ii!

!&iistere the sche&e o ;eh!.f of the Miistr of A6ric.tre, 'o?er&et of Ii!"

A &!2or r!@;!c< of the sche&e co. ;e see fro& the f!ct th!t ot of !.. the !..-Ii! c.!i&s of 

Rs 1,+*3 crores, '2!r!t !.oe recei?e Rs" G* crores for oe si6.e cro/,6rot"

The sche&e @!s scr!//e i 1G"

E9/eri&et!. Cro/ Isr!ce

A e9/eri&et!. cro/ isr!ce sche&e @!s itroce i 1G-F, co?eri6 o-.o!ee s&!..

! &!r6i!. f!r&ers 6ro@i6 s/ecifie cro/s i se.ecte istricts" The /re&i& @!s s;siiKe"

The /re&i& co..ecte @!s !;ot Rs" 3 crores ! the c.!i&s !&ote to Rs" 40 crores"

The 'o?er&et iscotie the sche&e ri6 1G-F itse.f"

(!r& Ico&e Isr!ce $che&e

The Cetr!. 'o?er&et for&.!te the (!r& Ico&e Isr!ce $che&e =(II$> ri6 *003-04"

The t@o critic!. co&/oets of ! f!r&ers ico&e !re ie. ! /rice" (II$ t!r6ete these t@o

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co&/oets thro6h ! si6.e isr!ce /o.ic so th!t the isre f!r&er co. 6et ! 6!r!tee

ico&e"

The sche&e /ro?ie ico&e /rotectio to the f!r&ers ; isri6 /roctio ! &!r<et ris<s"

The isre f!r&ers @ere esre &ii&& 6!r!tee ico&e =th!t is, !?er!6e ie. &.ti/.ie ; the &ii&& s//ort /rice>" If the !ct!. ico&e @!s .ess th! the 6!r!tee ico&e, the

isre @o. ;e co&/es!te to the e9tet of the shortf!.. ; the A6ric.tre Isr!ce

Co&/! of Ii!" Iiti!.., the sche&e @o. co?er o. @he!t ! rice ! @o. ;e

co&/.sor for f!r&ers !?!i.i6 cro/ .o!s" NAI$ =e9/.!ie i the sectio ;e.o@> @o. ;e

@ithr!@ for the cro/s co?ere er (II$, ;t @o. cotie to ;e !//.ic!;.e for other cro/s"

The (II$ @!s @ithr!@ i *004

 N!tio!. A6ric.tre Isr!ce $che&e=NAI$>

The 'o?er&et of Ii! e9/eri&ete @ith ! co&/rehesi?e cro/ isr!ce sche&e @hich

f!i.e" The 'o?er&et the itroce i 1-*000, ! e@ sche&e tit.e N!tio!.

A6ric.tr!. Isr!ce $che&e =NAI$> or R!shtri! %rishi Bi&! o2!! =R%B NAI$

e?is!6es co?er!6e of !.. foo cro/s =cere!.s ! /.ses>, oi.sees, hortic.tr!. ! co&&erci!.

cro/s" It co?ers !.. f!r&ers, ;oth .o!ees ! o-.o!ees, er the sche&e"

The /re&i& r!tes ?!r fro& 1"5 /ercet to 3"5 /ercet of s& !ssre for foo cro/s" I thec!se of hortic.tr!. ! co&&erci!. cro/s, !ct!ri!. r!tes !re ch!r6e" $&!.. ! &!r6i!.

f!r&ers !re etit.e to ! s;si of 50 /ercet of the /re&i& ch!r6e- the s;si is sh!re

eJ!.. ;et@ee the 'o?er&et of Ii! ! the $t!tes" The s;si is to ;e /h!se ot o?er !

 /erio of 5 e!rs"

 NAI$ o/er!tes o the ;!sis of 

1" Are! !//ro!ch- efie !re!s for e!ch otifie cro/ for @ies/re! c!.!&ities"

*" O ii?i!. ;!sis- for .oc!.iKe c!.!&ities sch !s h!i.stor&s, .!s.ies, cc.oes !

f.oos"

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Uer the sche&e, e!ch st!te is reJire to re!ch the .e?e. 'r!& !ch!!t !s the it of 

isr!ce i ! &!9i&& /erio of 3 e!rs"!6ric.tre isr!ce cor/or!tio of Ii! is

i&/.e&eti6 the sche&e"

BIB7O'RAH

http://en.wikipedia.o!/wiki/In"#an$e%in%India

http://en.wikipedia.o!/wiki/Li&e%In"#an$e%Copoation%o&%India

http://en.wikipedia.o!/wiki/'enea(%In"#an$e%Copoation%o&%India

http://en.wikipedia.o!/wiki/New%India%A""#an$e

http://en.wikipedia.o!/wiki/Nationa(%In"#an$e%Co)pan*

http://en.wikipedia.o!/wiki/United%India%In"#an$e

http://en.wikipedia.o!/wiki/In"#an$e%Re!#(ato*%and%De+e(op)ent%A#thoit*%o&%In

dia

http://en.wikipedia.o!/wiki/Li&e%in"#an$e%in%India

http://en.wikipedia.o!/wiki/A!i$#(t#a(%in"#an$e%in%India

www.in"#an$e.$o) 

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