UK-based Standard Life, the joint venture (JV) partner in HDFC Standard Life Insurance and HDFC Asset Management Company (AMC), is entering the Indian private equity (PE) space. Gerry Grimstone, the chairman of the British insurance major, speaks to Shilpy Sinha on the impact of the economic slowdown and the company&rsquo;s investment plans.

'Profitability isn't a good measure for life insurance firms'

Business Standard

State Bank of Patiala (SBoP) is the only public sector bank with its headquarters in Punjab.

&#39;We may have to restructure loans to textiles, steel, real estate sectors&#39;

From 13 members and database on four million trades in 2004, when Credit Information Bureau of India (Cibil) was set up, the country&rsquo;s first credit information company now has 162 members and

&#39;Fraud repository will help banks&#39;

Despite the bearish industry and sluggish exports, Punjab expects to withstand the repercussions of the global financial meltdown.

&#39;Agriculture will insulate us from financial turmoil&#39;

With the Rs 7,000-crore refinance window, micro, small and medium enterprises (MSMEs) will not face any fund crunch, says Sidbi Chairman and Manging Director R M Malla.

'We will ensure that banks pass on benefits to borrowers'

The international financial turmoil and the economic slowdown, which hit some large insurance giants like AIG, have also impacted the Indian insurance sector, which currently has 21 life and 20

'Client-friendly claim servicing need of the hour'

IDBI Fortis Life Insurance, a joint venture between IDBI Bank, Federal Bank and Fortis European Banking and Insurance Company, started operation in March 2008. The new participant in the insurance

'Our focus is on wealth assurance'

The country&rsquo;s largest insurer, the Life Insurance Corporation of India (LIC), has seen its sales dip in recent months.

'Market instability has thrown up new hurdles'

The man who could have been a contender for ICICI Bank&rsquo;s corner office is happier taking a crack at getting low-cost credit to the rural masses.

LUNCH WITH BS: Nachiket Mor

Paresh Parasnis, HDFC Standard Life Insurance Company&rsquo;s Principal Officer and Executive Director is not new to the company having been there since it started operations eight years ago.

'Assured return products restrict investment options'

General Insurance Corporation, the Indian Reinsurer, is seeing a drop in its investment income this year due to the stock market volatility.

'Business is shifting from global giants'

A total of 445 mergers and acquisitions (M&amp;As) were achieved till December 15, 2008, worth $30.72 billion, showing an estimated 40 per cent decline in value for the year.

'There will be more deals in the mid-market space'

Future Generali India Insurance, a joint venture between the Future Group and Italian giant Generali, started operations this year and has mopped up a gross premium income of Rs 170 crore.

'All corporate biz is not bad'

In the face of stiff competition from private sector insurance companies, state-owned National Insurance Company has rolled out a corporate plan to revamp its distribution network and implement core

'Our focus is on health insurance'

Deepak Parekh has never been known to mince his words.

'There's no need for irrational pessimism'

It could take two years for a turnaround, but since Temasek India is in the black, its head is currently focussed on an impending birthday bash and a holiday to Cambodia.

LUNCH WITH BS: Manish Kejriwal

Kolkata-based public sector bank United Bank of India (UBI) hopes to initiate a capital restructuring plan by the end of this financial year, before going for an initial public offering (IPO).

&#39;Banks should lend more&#39;

ICICI Bank Chief Executive Officer K V Kamath says high borrowing costs and a slowing economy are denting demand for loans.

'Lending rates must fall by another 3 percentage points'

At a time when there are general apprehensions about the ongoing financial meltdown, Haryana Finance Minister Birender Singh doesn&rsquo;t seem to be too affected.

'Services sector likely to be hit most'

The life insurance industry already boasts of 20 players and the economic slowdown is affecting the sector.

'There is great opportunity for debt protection in life insurance'

Liquidity still remains tight despite the Reserve Bank of India (RBI) reducing the cash reserve ratio by 350 basis points to 5.5 per cent releasing more than Rs 100,000 crore into the system.

&#39;Slump beyond March is a worry&#39;

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