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India Stocks Fall to One-Month Low on Rates Concern, Goldman BusinessWeek

18.04.10

By Rajhkumar K Shaaw and Hemal Savai

April 19 (Bloomberg) -- India’s stocks fell to a one-month low on speculation the central bank will tighten monetary policy after China sought to cool its property market, and as U.S. regulators filed a suit against Goldman Sachs Group Inc.

The Bombay Stock Exchange’s Sensitive Index, or Sensex, lost 190.50, or 1.1 percent, to 17,400.68, extending last week’s 1.9 percent retreat. The gauge slid for a fifth day, its longest losing streak since Jan. 27, after the U.S. Securities and Exchange Commission sued Goldman Sachs for fraud tied to collateralized debt obligations and Britain and Germany said they will study the firm’s transactions.

 India’s “stock markets will be impacted through risk aversion,” said Aneesh Srivastava, the Mumbai-based chief investment officer who manages $247 million at IDBI Fortis Life Insurance Co. “If global investors start withdrawing money and become risk averse, then that would be a concern.”

Source:

IDBI Fortis launches Retiresurance Pension Plan

• Offers a wide array of flexible investment options to ensure a comfortable paycheck during retirement
• Guaranteed loyalty additions, Tax benefits

MUMBAI: Targeting the Rs 35,000 crore pension plan market, IDBI Fortis Life Insurance today announced the launch of its innovative RetiresuranceTM Pension plan which will help its customer ensure a comfortable paycheck for themselves post retirement.

Launched only last year, IDBI Fortis Life Insurance, one of the fastest growing life insurance companies in India, has come out with WealthsuranceTM, BondsuranceTM and HomesuranceTM plans which have proved to be instant hits with its customers. With the RetiresuranceTM Pension Plan, the company aims to fulfill the needs of the current generation which may find the traditional pensions and gratuity benefits inadequate when they retire.

“With the rising costs of living and fluctuating fortunes, RetiresuranceTM Pension Plan will prove to be extremely useful after one’s retirement when one wants to continue to lead an un-restricted, happy life without having to face a cash crunch,” said Mr. G V Nageswara Rao, MD & CEO of IDBI Fortis Life Insurance.

“Earlier generations may not have had a formal retirement plan but they had relatively fewer consumption needs. It was rare to find people who had shifted through several jobs in the course of an active career. As a result, pensions and gratuities issued by their employers were deemed sufficient. Times have changed now, and in most contemporary industries, few employers provide for a life long pension,” Mr. Rao explained.

Sounding a note of caution, he said that managing finances during retirement would be extremely tough if one hasn’t planned for retirement. The best way to enjoy the good times even in your golden years would be to build your investments in advance for retirement.

The IDBI Fortis RetiresuranceTM Pension Plan allows the customer to...

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Bonds stay in range; rupee loses 38 paise - Economic Times
Economic Times, India - Jun 17, 2009
Bonds stay in range; rupee loses 38 paise“Our estimate is that the 10-year bond would continue to trade in the 6.75-7% range,” said Aneesh Srivastava, chief investment officer at IDBI Fortis Life Insurance. “Let's wait for cues on the borrowing programme from the Budget.

IDBI Fortis Life to offer traditional plans - mydigitalfc.com
mydigitalfc.com, India - Jun 11, 2009
IDBI Fortis Life to offer traditional plansBy Shruti Verma IN a bid to complete its product portfolio, IDBI Fortis Life Insurance plans to launch traditional products soon. The company also plans to get into group insurance business by GV Nageswara Rao, managing director and chief executive

Rupee weakens further on weak market - Economic Times
Economic Times, India - Jun 17, 2009
Rupee weakens further on weak market"Our estimate is that the 10-year would continue to trade range-bound in the 6.75% to 8% range," saya Aneesh Srivastava, chief investment officer at IDBI Fortis Life Insurance. "Let's wait for the cues about the borrowing programme from the budget.

Slowly but steadily, Ulips are back in favour with investors - mydigitalfc.com
mydigitalfc.com, India - Jun 04, 2009
Slowly but steadily, Ulips are back in favour with investorsGulanikar added that there has not been any noticeable flight from equity among SBI Life customers in the past. Aneesh Srivastav, chief investment officer, IDBI Fortis Life Insurance, which started operations in March 2008, said, “We are seeing a shift

Private life insurers plan Rs 3000cr cash infusion - mydigitalfc.com
mydigitalfc.com, India - May 26, 2009
Private life insurers plan Rs 3000cr cash infusionStar Union Dai-ichi Life, IDBI Fortis Life, Future Generali Life and Bharti AXA Life are the New Age life insurance companies. M Balachandran, chairman and managing director, Star Union Dai-ichi, told Financial Chronicle the company would set up 20