“The GDP growth for the March quarter is expected to remain soft at 4. 8 per cent, due largely to a reduction in government spending, but we are hopeful that the lower interest rate environment and improving investment should result in better growth numbers from the June quarter,” Prior-Wandesforde said in a research note.
What followed the next five years is, however, a sordid saga of how political interference, wrong policy decisions, and inability to keep pace with changes in one of the world’s most vibrant telecom markets has compelled this once ‘most valuable Navaratna’ company now into seeking a bailout.
Lapse ratio is the proportion of policies where renewal premium was not paid. The Life Insurance Corporation has, however, maintained lapse ratios at 4-5 per cent over the last few years. Â Clubbing private players and LIC, investors didn’t renew a total of 160 lakh traditional insurance plans of the value of Rs 1. 9 lakh crore (total sum assured) in 2011-12, registering a two-fold jump from 2008-09.