BEL Assignment FINAL

8/3/2019 BEL Assignment FINAL

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Vision:

To be a leading global reinsurance and risk solution provider

Mission:

- To achieve our vision by

- Building long-term mutually beneficial relationship with business partners.- Practicing fair business ethics and values

- Applying state-of-art technology, processes including enterprise risk management and

innovative solutions- Developing and retaining highly motivated professional team of employees

- Enhancing profitability and financial strength befitting the global position

Core Values:

- Trust and mutual respect- Professional excellence

- Integrity and transparency

- Commitment- Responsive Service

History:

The entire general insurance business in India was nationalised by General Insurance Business(Nationalisation) Act, 1972 (GIBNA). The Government of India (GOI), through Nationalisation

took over the shares of 55 Indian insurance companies and the undertakings of 52 insurers

carrying on general insurance business.

General Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) ofGIBNA. It was incorporated on 22 November 1972 under the Companies Act, 1956 as a privatecompany limited by shares. GIC was formed for the purpose of superintending, controlling and

carrying on the business of general insurance.

As soon as GIC was formed, GOI transferred all the shares it held of the general insurance

companies to GIC. Simultaneously, the nationalised undertakings were transferred to Indian

insurance companies. After a process of mergers among Indian insurance companies, four

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companies were left as fully owned subsidiary companies of GIC (1) National Insurance

Company Limited, (2) The New India Assurance Company Limited, (3) The Oriental Insurance

Company Limited, and (4) United India Insurance Company Limited .

The next landmark happened on 19th April 2000, when the Insurance Regulatory and

Development Authority Act, 1999 (IRDAA) came into force. This act also introduced

amendment to GIBNA and the Insurance Act, 1938. An amendment to GIBNA removed the

exclusive privilege of GIC and its subsidiaries carrying on general insurance in India.

In November 2000, GIC is renotified as the Indian Reinsurer and through administrativeinstruction, its supervisory role over subsidiaries was ended.

Shri Ashok Kumar Roy

Chairman-cum-Managing Director (officiating)

Our Business:

As a sole reinsurer in the domestic reinsurance market, GIC provides reinsurance to the direct

general insurance companies in the Indian market. GIC receives statutory cession of 10% on

each and every policy subject to certain limits. It leads many of domestic companies treatyprogrammes and facultative placements. GICs capacity for each class of business on Treaty and

Facultative basis for domestic business is given in the following table.

A GIC is spreading its wings to emerge as an effective reinsurance solutions partner for the Afro-A

region and has started leading the reinsurance programmes of several insurance companies in SAARcountries, South East Asia, Middle East and Africa. To offer its international clientele an easy

accessibility, efficient service and tailor made reinsurance solutions; GIC has openedliaison/representative/branch offices in London and Moscow. GIC provides following capacities fo

Treaty and Facultative business on risk emanating from the international market based on merits of

business.

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Investments were made within the regulatory framework of Insurance Act, and IRDA Regulations

within corporate policy. The funds of the Corporation are managed in-house.

.

IRDA regulations stipulates that without prejudice to Section 27 or 27(b) of the Act, every

insurer carrying on General Insurance Business shall invest and at all times keep invested his

total assets in the following manner.

Regularetory Framework:

The functioning of GIC has to be within the regulations of the following major Acts:

The Companies Act, 1956

Insurance Act, 1938

General Insurance Business (Nationalisation) Act, 1972

General Insurance Business (Nationalisation) Amendment Act. 2002.

Insurance Regulatory and Development Authority Act, 1999

Certificate of Registration with IRDA Certificate of Renewal of Registration from IRDA for 2010-11

Registered and Head Office:

"Suraksha",

170, Jamshedji Tata Road,Churchgate,

Mumbai - 400 020

IndiaTel. (Board): +91 22 2286 7000

FaxNo: +91 22 2289 9600

Email : [email protected]

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UTI MUTUAL FUNDS

Vision

To be the most preferred Mutual Fund

Mission

To make UTI Mutual Fund:

The most trusted brand that is admired by all stakeholders

The largest and most efficient wealth manager with global presence

The best-in-class customer service provider

The most preferred employer

The most innovative and best wealth creator

A socially responsible organisation known for best corporate governance

Genesis

January 14, 2003 is when UTI Mutual Fund started to pave its path following the vision of UTIAsset Management Co. Ltd. (UTIAMC), which was appointed by UTI Trustee Co, Pvt. Ltd. for

managing the schemes of UTI Mutual Fund and the schemes transferred/migrated from the

erstwhile Unit Trust of India.

UTIAMC provides professionally managed back office support for all business services of UTI

Mutual Fund in accordance with the provisions of the Investment Management Agreement, the

Trust Deed, the SEBI (Mutual Funds) Regulations and the objectives of the schemes. State-of-the-art systems and communications are in place to ensure a seamless flow across the various

activities undertaken by UTIMF.

Since February 3, 2004, UTIAMC is also a registered portfolio manager under the SEBI

(Portfolio Managers) Regulations, 1993 for undertaking portfolio management services.

UTIAMC also acts as the manager and marketer to offshore funds through its 100 % subsidiary,UTI International Limited, registered in Guernsey, Channel Islands.

Assets Under Management

UTIAMC presently manages a corpus of over Rs 5781734.00 lakhs as on December 31st

2011(source: www.amfiindia.com). UTI Mutual Fund has a track record of managing a variety

of schemes catering to the needs of every class of citizens. It has a nationwide networkconsisting 148 UTI Financial Centres (UFCs) and UTI International offices in London, Dubai

and Bahrain.

UTIAMC has a well-qualified, professional fund management team, which has been fully

empowered to manage funds with greater efficiency and accountability in the sole interest of the

unit holders. The fund managers are ably supported by a strong in-house securities research

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department. To ensure investors interests, a risk management department is also in operation.

Reliability

UTIMF has consistently reset and upgraded transparency standards. All the branches, UFCs and

registrar offices are connected on a robust IT network to ensure cost-effective quick and efficientservice. All these have evolved UTIMF to position as a dynamic, responsive, restructured,

efficient and transparent entity, fully compliant with SEBI regulations.

Investment Philosophy

UTI Mutual Funds investment philosophy is to deliver consistent and stable returnsin the medium to long term with a fairly lower volatility of fund returns compared tothe broad market. It believes in having a balanced and well-diversified portfolio forall the funds and a rigorous in-house research based approach to all itsinvestments. It is committed to adopt and maintain good fund managementpractices and a process based investment management.

UTI Mutual Fund follows an investment approach of giving as equal an importance

to asset allocation and sectoral allocation, as is given to security selection whilemanaging any fund. It combines top-down and bottom-up approaches to enable theportfolios/funds to adapt to different market conditions so as to prevent missing aninvestment opportunity.

In terms of its funds performance, UTI Mutual fund aims to remain consistently inthe top quartile vis--vis the funds in the peer group.

Sponsors:

We are sponsored by three leading public sector banks the Bank of Baroda, Punjab NationalBank and the State Bank of India and the Life Insurance Corporation of India (LIC), the largestpublic financial investment institution and life insurer in India.

Bank of Baroda

Since inception, Bank of Baroda has always maintained its practice of sound, value-based

banking to emerge as one of the premier public sector banks in the country today. It has a trackrecord of uninterrupted profits since inception in 1908. The financial strength of the bank and its

long tradition of efficient customer service are drawn substantially from the extensive reach of its

3100-strong branch network covering almost every state and union territory in the country. It is

also one of the few Indian banks with a formidable presence overseas with 48 branches with thetotal branch network tally standing at 3148 as on 31.03.2010.

Life Insurance Corporation of India

Life Insurance Corporation of India (LIC) is amongst the largest insurance companies in the

world, with 2048 branches and with a fund size of Rs. 9,99,517.59 crore.

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Punjab National Bank

Punjab National Bank is a commercial bank with the main objective being the facilitation of

acquisition and transfer of the undertaking of certain banking companies, with regard to theirsize, resources coverage and organization. They do so in order to meet progressively and serve

the needs of the development of the economy and to promote the welfare of the people of India.

As on 31.03.2010, Punjab National Bank had 4997 domestic offices including 46 extension

counters, 5 foreign branches and a deposit size of Rs. 2,49,330 crore.

State Bank of India

The State Bank of India is the largest public sector bank in India with 12,496 branches in India

and 142 overseas offices in 32 countries as on 31.03.2010. In addition to this, SBI also has 22

subsidiaries.

The sponsors are neither responsible nor liable for any loss resulting from theoperation of the scheme beyond the contribution of Rs.10,000/- made by themtowards setting up the Mutual Fund.

Trustee :

UTI Trustee Company Private Limited, a company incorporated under The Companies Act, 1956will be the Trustee of transferred/migrated schemes, which is the first and sole trustee of the

Mutual Fund under the Trust Deed dated December 9, 2002 executed between the Sponsors andthe Trustee Company (the Trustee).

Registered Office

UTI Tower, GN Block, Bandra - Kurla Complex, Bandra (East), Mumbai - 400 051

Board of Directors :

Mr. Pradeep Gupta

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IRBI

Mission

Providing a full range of Indian consumers on the basis of the payment service pay for all

services in a "cashier".

Strategy

The main strategic focus on Pay-24 Ltd is to strengthen the leading position in the Indian

market of payment systems and electronic commerce.

About company

Pay-24 Ltd managed to unite a team of professionals involved in the integration of

payment systems, the processing center and software that is the result of a 5-year IT-specialists. Today the company is a leader in payment systems, providing the public a

convenient, reliable and quick way to pay for mobile operators, Internet service providers,

television, pay utility bills and other goods and services.

Our company offers integrated technology solutions for organizations of payment

acceptance points: hardware and software adapted to any work environment. The system

provides high-speed transaction processing. The work of highly qualified specialists of the

company allows to quickly create the most comfortable working conditions for our partners,

ensuring stable revenue growth of each dealership. Pay-24 Ltd is constantly working to

improve systems and improving the quality of service that ensures the forefront of the market

for payment systems.

Providers:

irbi is one of the largest operators in India to provide services to express payment.

We managed to unite a team of professionals involved in the integration of payment

systems, the processing center and software that is the result of a 5-year development of IT-

specialists. Today the company is a leader in the payment system, giving people a convenient,

reliable and quick way to pay for mobile operators, Internet service providers, television and

other goods and services.

The system provides high-speed transaction processing. The work of highly qualified

specialists of the Company allows you to quickly create the most comfortable working

conditions for our partners. irbi constantly working to improve systems and improving the

quality of service that ensures the forefront of the market for payment systems.

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Advantages of cooperation with the payment system irbi:

Reducing the load on the cash settlement department of your company;

A significant expansion of the payment without any additional investments;

Implementation of joint projects for automation, such as automatic transfer meter

readings;

We invite you to join our billing system, adding the possibility to pay for their services

through the widest network of payment points!

If necessary, qualified specialists of our company will prepare for you all the necessary

documents and develop software, conduct the necessary training.

Cooperating with us, you can significantly increase the number of points of payment and

increase the convenience of payment offered by your service provider. Bright design and

user-friendly interface of the payment terminal will not ignore your service, and memorablebrand will serve as a faithful guide your client to replenish the account in the future. For

maximum efficiency, we carefully monitor the process for each payment, putting every effort

to ensure that the user terminal has returned to it again.

With the payment system irbi You can quickly and at no additional cost to organize the

business to receive payments from individuals. The list of providers, in whose favor can

receive payments is growing, these are the main groups: mobile and fixed telephony

providers of commercial television and the Internet, housing, utilities, airlines, security alarm

systems and many others.

Payment System irbi a complete solution for business, which includes payment

terminals, software and services necessary for the successful development of your business.

Benefits

irbi is a universal payment tool that integrates many types of payment in a single

unified algorithm. We offer our clients a flexible and reliable system, which can be used to

carry out any on-line payments. Safety, reliability, ease of use, versatility, efficiency of

payment processing everything is a payment system irbi.

Recognition

User defined software modules, a popular brand name irbi all this will ensure that

awareness and gain confidence, and as a consequence, increase the number of payments and

increase your profitability with the payment system irbi.

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Technical support

In each region, the presence of the payment system irbi located service centers, where

you can receive full support in dealing with legal, financial and accounting matters, as well as

purchase the necessary equipment and componentry from printer paper to self-service

terminals in different versions. Round the clock technical support to solve any technicalissues at any time. Free round the clock call-center to relieve taxpayers of our agents need to

maintain their call-center, use human resources and, consequently, to bear the additional

financial costs.

Providers

Payment System irbi provides pay more than 50 service providers across India.

Implemented the payment of air tickets of the company KLM, Lufthansa, Air France,

EgyptAir. The company is constantly expanding its list of providers, thereby following in

step with market needs, as well as the wishes of their agents.

Hardware and software capabilities

Payment System, irbi offers a wide range of hardware and software solutions to receive

payments, so you can choose the most convenient way of payment agent.

Payment terminals;

Mounted terminals;

Street terminals;

Posterminals.

And wide-range software choice as well

Payment terminals software;

Mobile pos-terminals software;

Javaterminals for mobile phones;

Winterminals for PC;

Xmlgetway.

Actual address:

India, Plot No 30, Sector 33, Gurgaon, Haryana, India. P.O. Box - 122002

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BEL Assignment FINAL

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