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Life Insurance Provider - Providing Financial Assistance
The life insurance provider collects large amount of funds from the public and deploys the savings to the best advantage of the policy holders and the community at large and industrial development. Apart from the services provided to the general public, the life insurance provider also provides various kinds of services to the small scale and large scale industries. The life insurance provider helps the large scale industries by providing funds to the industries. The life insurance provider provides funds to industries in three forms.
They are 1) direct lending to industry, 2) purchase of shares and debentures in the stock market, 3) subscription to the shares and bonds of financial institutions. The life insurance provider helps the small scale industries by granting various types of loans for setting up co- operative industrial estates. A recent survey says that up to 31.3.10 an amount of Rs 90 crore has been advanced to co- operative industrial estates. The life insurance provider also makes investments in the co- operative sector in the form of long term, medium term and short term loans to corporations.
The ...
... total loans made up to 31 march 2010 was Rs. 4824 crore. Apart from granting loans to companies, the life insurance provider also finances private industrial projects by directly subscribing to their shares and debentures of the company.
Securities are purchased by the life insurance provider in the new market and the secondary market. The total investment made by way of subscription to shares and debentures was Rs. 70,055 crore as on 31 March 2010. The life insurance provider finances industries indirectly by investing in the shares and bonds of state level financial institutions and national level financial institutions. The life insurance provider provides financial assistance to state electricity board and Power Corporation for power generation by way of loans and subscription to bonds.
The life insurance provider has been extending financial assistance to state level apex co- operative housing finance societies, housing development finance corporations, national housing bank and housing and urban development corporation. Since 1998- 09, the life insurance provider was financing infrastructure projects pertaining to ports, roads, railways and airports. But now, the life insurance providers can also finance private sector in infrastructural projects. In addition to the above, the life insurance provider also co- sponsored a number of financial institutions, tourism finance corporations, infrastructure leasing, technology development and information companies.
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