SBI to soon announce its general insurance partner

BI, India's largest sender bank on Thursday said that it will shortly announce its non-life insurance partner.

Mr. O P Bhatt, Chairman, said in an interview that they have shortlisted certain companies for this purpose and with this month they will finalize the partner for the venture.

According to sources, SBI has shortlisted three partners from a list of nine. These includes Australia's IAG (Insurance Australia Group) besides one from Germany and the other from the US. The general insurance venture is expected to focus initially on SBI's corporate clients. (Agencies)

Indian corporate denied PM's advise

The Indian Inc defends the pay packages of the top officials of the corporate sector. The industry leaders felt that the Prime Minister’s advice on salaries was sound, but they expressed their inability to follow it because of a demand-supply mismatch. New CII president Sunil Mittal today said that it was not possible to regulate the salaries of top executives.