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Agriculture Insurance Company Of India
Agriculture Insurance Company of India Limited (AIC) is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It offers yield-based and weather-based crop insurance programs in almost 500 districts of India. It covers almost 20 million farmers, making it the biggest crop insurer in the world in number of farmers served. Agriculture Insurance Company of India Limited is a development finance institution headquartered out of New Delhi, India AIC aims to provide insurance coverage and financial support to the farmers in the failure of any of the notified crop as a result of natural calamities, pests and diseases to restore their creditworthiness for the ensuing season; to encourage the farmers to adopt progressive farming practices, high value in-puts and higher technology; to help stabilize farm incomes, particularly in disaster years. The plan provides comprehensive risk insurance for yield losses due to natural fire and lightning, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New India Assurance
The New India Assurance Co. Ltd., is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It is based in Mumbai, Maharashtra. "It is the largest nationalised general insurance company of India on the basis of gross premium collection inclusive of foreign operations". It was founded by Sir Dorabji Tata in 1919, and was nationalised in 1973. Previously, it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company following the passage of the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance became autonomous. Offices The company, with its registered Head office in Mumbai, has about 31 regional offices, 6 Large Corporate Offices, 447 Divisional Offices, 578 Branches, 27 Direct Agent Branches and 1,239 Micro Offices, Elmo Auto hub, 2 centralised legal hubs totaling 2329 offices. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agriculture Companies Of India
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in cities. The history of agriculture began thousands of years ago. After gathering wild grains beginning at least 105,000 years ago, nascent farmers began to plant them around 11,500 years ago. Sheep, goats, pigs and cattle were domesticated over 10,000 years ago. Plants were independently cultivated in at least 11 regions of the world. Industrial agriculture based on large-scale monoculture in the twentieth century came to dominate agricultural output, though about 2 billion people still depended on subsistence agriculture. The major agricultural products can be broadly grouped into foods, fibers, fuels, and raw materials (such as rubber). Food classes include cereals (grains), vegetables, fruits, cooking oils, meat, milk, egg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Companies Of India
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Established In 2002
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability assess ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Insurance In India
Agriculture in India is highly susceptible to risks like droughts and floods. It is necessary to protect the farmers from natural calamities and ensure their credit eligibility for the next season. For this purpose, the Government of India introduced many agricultural schemes throughout the country. Current insurance schemes Pradhan Mantri Fasal Bima Yojana The Pradhan Mantri Fasal Bima Yojana (Prime Minister's Crop Insurance Scheme) was launched by Prime Minister of India Narendra Modi on 13 February 2016. Livestock Insurance Scheme Livestock Insurance Scheme in India provided "provide protection mechanism to the farmers and cattle rearers against any eventual loss of their animals due to death and to demonstrate the benefit of the insurance of livestock to the people and popularize it with the ultimate goal of attaining qualitative improvement in livestock and their products." [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Regulatory And Development Authority
The Insurance Regulatory and Development Authority of India (IRDAI) is a regulatory body under the jurisdiction of Ministry of Finance , Government of India and is tasked with regulating and licensing the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India. The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001. IRDAI is a 10-member body including the chairman, five full-time and four part-time members appointed by the government of India. History In India insurance was mentioned in the writings of many historical documents, which examined the pooling of resources for redistribution after fire, floods, epidemics and famine. The life-insurance business began in 1818 with the establishment of the Oriental Life Insurance Company in Calcutta; the company failed in 1834. In 1829, Madras Equitable began c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Agriculture & Farmers Welfare
The Ministry of Agriculture & Farmers Welfare (Hindi: ''Krishi Avam Kisaan Kalyaan Mantralaya''), formerly the Ministry of Agriculture, is a branch of the Government of India and the apex body for formulation and administration of the rules and regulations and laws related to agriculture in India. The three broad areas of scope for the Ministry are agriculture, food processing and co-operation. The agriculture ministry is headed by Minister of Agriculture Narendra Singh Tomar. Abhishek Singh Chauhan, Krishna Raj and Parsottambhai Rupala are the Ministers of State. Sharad Pawar, serving from 22 May 2004 to 26 May 2014, has held the office of Minister of Agriculture for the longest continuous period till date. Origins Department of Revenue and Agriculture and Commerce was set up in June 1871 to deal with all the agricultural matters in India. Until this ministry was established, matters related to agriculture were within the portfolio of the Home Department. In 1881, Departmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United India Insurance Company
United India Insurance Company is a central public sector undertaking under the ownership of Ministry of Finance, & Government of India. Its headquarters is located in Chennai, India, and was incorporated on 18 February 1938. The company was nationalised in 1972. Previously, it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance obtained autonomy, with effect from 21 March 2003. Twelve Indian insurance companies, four co-operative insurance societies, five foreign insurers with Indian operations and the general insurance operations of the southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited to form the company. After nationalization, United India has 14,322 number of workforce spread across 2,248 offices ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Oriental Insurance Company
The Oriental Insurance Company Ltd. is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. The headquarters is present in New Delhi. It has 29 regional offices and more than 1500 active branches across the country. The psu also has branches in Nepal, Kuwait, and Dubai. The psu had recorded a gross premium of in the financial year 2020–21. It offers more than 170 general insurance products. The IRDA registration number of the company is "556". History The Oriental Insurance Company Ltd. was incorporated at Mumbai on 12 September 1947. The company was a wholly owned subsidiary of The Oriental Government Security Life Assurance Company Ltd and was formed to carry out general insurance business. The company was a subsidiary of the Life Insurance Corporation of India from 1956 to 1973 (until the General Insurance Business was nationalized in the country). In 2003 all shares of the company held by the General Insurance Corporation of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (India)
The Ministry of Finance (IAST: ''Vitta Maṃtrālaya'') is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget. The Ministry of Finance is the apex controlling authority of ''four'' central civil services namely Indian Revenue Service, Indian Audit and Accounts Service, Indian Economic Service and Indian Civil Accounts Service. It is also the apex controlling authority of one of the central commerce services namely Indian Cost and Management Accounts Service History R. K. Shanmukham Chetty was the first Finance Minister of independent India. He presented the first budget of independent India on 26 November 1947. Department of Economic Affairs The Department of Economic Affairs is the nodal agency of the Union Government to formulate and monitor country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank For Agriculture And Rural Development
National Bank for Agriculture and Rural Development (NABARD) is an apex regulatory agency, regulatory body for overall regulation of Regional Rural Bank, regional rural banks and apex cooperative banks in India. It is under the jurisdiction of Ministry of Finance (India), Ministry of Finance, Government of India. The bank has been entrusted with "matters concerning policy, planning, and operations in the field of credit for agriculture and other economic activities in rural areas in India". NABARD is active in developing and implementing financial inclusion. Background Source: NABARD was established on the recommendations of B. Sivaramman Committee (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC). It is one of the premie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
