Latest news with #Rs67
Business Standard
15 hours ago
- Business
- Business Standard
Axis Max Life Declares Rs2,135 Cr. Participating Bonus for FY25; Reaffirms Commitment to Long-Term Value Creation
VMPL New Delhi [India], June 9: Axis Max Life Insurance Ltd. formerly known as Max Life Insurance Company Ltd ("Axis Max Life"/ "Company"), has announced a Participating (PAR) bonus of Rs2,135 Crore for eligible policyholders for FY24-25. This marks the Company's 23rd consecutive annual bonus and takes the cumulative bonus declared over the past 23 years to Rs15,847 Crore*. The declared bonus will enhance the corpus of more than 21 lakh eligible PAR policyholders, beginning July 2025. Axis Max Life continues to drive long-term value through a disciplined investment strategy and prudent fund management--reflected in the PAR Fund** growing from Rs67,722 Cr. in FY24 to Rs74,119 Cr. in FY25, a CAGR of ~19% over the past decade. Prashant Tripathy, CEO and Managing Director, Axis Max Life, said, "This year's bonus declaration reflects our steady commitment to delivering sustained value for policyholders through prudent and disciplined fund management. In a volatile macro environment, our PAR Fund has continued to demonstrate resilience driven by strong asset quality and consistent performance. With enhanced bonus options and built-in liquidity, we're enabling customers to navigate their evolving financial priorities with confidence and flexibility." Axis Max Life operates one of the largest PAR Fund among Indian private life insurers and remains one of the few companies offering customers the flexibility to choose from multiple bonus options--Cash Bonus, Accumulated Bonus, Paid-Up Additions (PUA), and Premium Offset--along with liquidity through partial withdrawals of bonuses without affecting the Basic Sum Assured. The Axis Max Life PAR Fund has delivered consistent debt returns in the 7.4%-8.4% range over the last five years, backed by the steady performance of its debt assets. Axis Max Life continues to strengthen its PAR product portfolio through innovative offerings like the Smart Wealth Income Plan, Smart Wealth Advantage Growth Par Plan, Whole Life Super, Monthly Income Advantage Plan, and Savings Advantage Plan combining liquidity, protection, and retirement benefits--expanding its reach across customer segments seeking both growth and stability. About Axis Max Life Insurance Limited ( Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.
Time of India
27-05-2025
- Time of India
Resident dy collector, his assistant held by ACB in Chhatrapati Sambhajinagar
Chhatrapati Sambhajinagar: The Anti-Corruption Bureau (ACB) sleuths on Monday arrested resident deputy collector Vinod Khirolkar (51) and his revenue assistant Deepak Tribhuvan (40) — both stationed at the Chhatrapati Sambhajinagar district collectorate — for allegedly demanding and accepting a Rs5 lakh bribe. A subsequent search of Khirolkar's property uncovered over Rs67 lakh in unaccounted cash and valuables. According to ACB superintendent of police Sandip Atole, the complainant and their partner legally purchased 6 acres and 16 gunthas of Class 2 land in Teesgaon in 2023. The duo had previously paid the accused Rs23 lakh to obtain the necessary government challan for the land transaction. Later, the officers allegedly demanded an additional Rs18 lakh to issue the required challan for converting the land from Class 2 to Class 1. The ACB received the complaint on May 23 and verified the allegation on Monday, during which the accused reportedly reiterated their demand. A case under sections 7, 7A, and 12 of the Prevention of Corruption Act, 1988, has been registered at the City Chowk police station.
Time of India
08-05-2025
- Business
- Time of India
CM fast-tracks city revamp, Zero Mile to house Rs45 crore heritage hub
1 2 3 Nagpur: Chief minister Devendra Fadnavis on Thursday directed the immediate launch of key civic and cultural infrastructure projects across Nagpur, including the transformation of the historic Zero Mile site into a major national heritage and tourist destination . A Rs45 crore plan to develop the site was given a go ahead, with Indian Oil Corporation Ltd (IOCL) funding most of the project and the state govt set to cover the remaining cost."Zero Mile should not remain just a geographical point, it must be an experience," Fadnavis said at a high-level review meeting in Mumbai. "Projects like the Zero Mile upgrade, Cotton Market redevelopment, Orange City Street, and the prison relocation must begin immediately. No proposal should be held up due to tenders or finances."The Zero Mile project will include an experience centre that narrates how Nagpur came to be recognised as the notional centre of undivided India. The plan involves the construction of a museum, visitor amenities, and parking using natural light design. The land belongs to the state govt, and maintenance will be overseen by the Nagpur Municipal Corporation meeting also reviewed the proposed performance gallery and auditorium at Orange City Street on Plot No. 14, designed by architect Hafeez Contractor. While the project awaits final clearance from the Airports Authority of India, 12 alternate sites have been shortlisted. The Maharashtra State Infrastructure Development Corporation (MSIDC) will implement the project, which includes an academy of performance arts with 6.2 lakh sq ft of permissible construction, including a 1.2 lakh sq ft ensure smooth redevelopment of key commercial zones, plans are being drawn up to relocate shopkeepers near the Ganeshpeth bus depot. Coordination between the Nagpur Improvement Trust and MSIDC is other updates, the revised Rs67 crore proposal for Dik Dawakhana was approved, meeting updated valuation and administrative norms. Redevelopment plans for Netaji Market and Dahi Bazaar are also progressing, although officials flagged the low commercial viability of Dahi Bazaar. A proposal to convert it into a parking facility with guaranteed rehabilitation for existing vendors was the meeting, Fadnavis emphasised speed, efficiency, and public engagement. "These projects represent Nagpur's identity. Delays caused by red tape are unacceptable," he officials from the MSIDC, NIT, and NMRDA were present, reinforcing the state's intent to streamline multi-agency coordination for city-wide development.
Express Tribune
25-03-2025
- Express Tribune
Mother of two murdered brothers demands justice
The mother of two murdered brothers, Fazal Razzaq and Muhammad Azam, residents of Kundal, has demanded justice for their killings. Speaking at a press conference at the Haripur Press Club, Naziran Jan was joined by her nephew, Ghulam Rasool, and brother, Wajid Khan, as she called for strict action against those responsible. Naziran Jan alleged that Sub-Inspector Qazi Ajmal, involved in the case, should be suspended and held accountable. She further claimed that Ajmal stole Rs67,000 from her sons, which has not been returned. She revealed that her son, Muhammad Azam, had married a woman of his choice, but the woman's sisters-in-law and other relatives were involved in the conspiracy that led to her sons' murder. She explained that her son had married the woman despite opposition from her family, and an agreement was reached in the presence of 100 people, with a written undertaking on the Quran. However, Sub-Inspector Qazi Ajmal, who was investigating the case at the Saddar Police Station, was in connivance with the alleged killers. She lamented that one of the accused is still at large, while the others, including Qazi Ajmal, were arrested and imprisoned. However, Qazi Ajmal has been granted bail. Naziran Jan appealed to the DIG Hazara, Nasir Mehmood Sati, and DPO Haripur, Farhan Khan, to take action against Qazi Ajmal and ensure that justice is served. She also demanded that Qazi Ajmal be suspended from service and punished.
