LIC business growth in Madurai and southern districts

The Life Insurance Corporation of India (LIC), has seen strong business growth in the southern districts during the last fiscal.

The Madurai Division, comprising 25 Branch Offices and 17 Satellite Offices located across six southern districts, saw the issue of around 5.19 lakh new policies generating new business premium of Rs. 475 crore, a 20 per cent growth over the previous fiscal, J. Chakrapani, Senior Divisional Manager, Madurai Division.

Overall there is a strong business growth in Madurai and southern districts for LIC!

Magma targets 50% growth in Tamil Nadu - Growth plan in state for 2012

Magma Fincorp Limited (“Magma”) is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company.

Magma has presence in 7 cities Of Tamil Nadu including branch offices in Chennai (2), Madurai, Coimbatore, Salem, Pondichery, Vellore & Trichy and employs about 150 people in the state.

“The primary sales of assets have witnessed robust growth in the past several quarters and we hope the same would continue. This augurs well for our business. With the development of infrastructure further, we hope our products will continue to do well as majority of them cater to the growth in rural and semi urban markets,”, said Bhattacharya.

He said that the company will also focus to grow the higher yield products such as Suvidha, Tractor and SME Loans significantly.

Car, Commercial Vehicle & Construction Equipment finance posted a healthy growth of 158%, 74% & 73% respectively.

The Tractor finance and Suvidha (Refinance) verticals introduced last year also witnessed a phenomenal growth of 1284% & 209% respectively.

Life Insurance for 1 Crore of 50 Lakhs is good for me and my family? - Madurai Finance

I was recently thinking about life insurance coverage for myself. Since I am a family man, I would like to cover my family, when I am not there and if any unfortunate thing happens to me.

Frankly speaking, in this modern age, we do not follow a healthy lifestyle, though we have all money to survive. In olden days or in past days, we were suffering from poverty and at least do not have sufficient money to survive. But, these days there are only very few people who struggle for food. Every body is affording to eat and do basic things.

The quality of food we get these days is all unnatural and inorganic food, which is not good in long run. Even take for example, the chicken we get. It is all huge and completely unhealthy - since they are broiler hens. At any case, I want to come to the point...

Life is not secure these days with the lifestyle and the diseases we get in these days. Now, how do I secure my family, when I am not there?

I thought of choosing life insurance coverage. Due to lot of demand in life insurance coverage, the premium of high budget and high value insurance has come down.

Say for example, for natural death and accidental death and disability the coverage policy is about Rs.50,00,000. But the premium per year is around Rs.15,000. It is completely not refundable and every year we will have to pay and have the coverage continued. This can be done till the age of 58. Is this a good idea? We can think that we are spending around Rs.1,200 per month on something without considering anything.

However, these days even Rs.50,00,000 has become a small amount! Is that right? I am just kidding. At least in the coming days or years, due to inflation it might be an easy amount.

In other hand, I am thinking - Instead of wasting this kind of amount, we should go with investment of land which will appreciate a lot in coming days. What if we invest in a house far away? What if you invest in an agri land far away? In this latest days, since the Real estate appreciates to a great extent, it is better to invest in real estate instead of taking any policies.

Think about this idea? i am sure you would agree, except for any LIC or insurance agents:)!!

Madurai Budget Snapshot for the year 2010-2011 and 2011-2012

Madurai's Earnings is Rs.175 crores and 37 lakhs
Madurai's Expenditure Rs.183 crores and 37 lakhs

Opposition parties like ADMK and DMDK stepped out from the Assembly hall, for not accepting the loss or deficit of Rs.8 Crores.

It is said that around Rs.5.82 crores was spent on maintenance of highways (27 kms of Mattuthavani to Thirumangalam highways). But opposition parties claim that there is not much work done and how come this amount is deficit (source: dinamalar).

Moreover, Madurai has got loan it seems, which is being given back slowly with interest. Madurai Commissioner Sebastian said - "A loan of around Rs.29 crores for the interest of 12.5% is got, so it is being given back. Now, around 11 crores is given back, but it is expected that by 2016, it has to be given back".

Mayor of Madurai Mrs.Thenmozhi Gopinathan has said that there is already plans for fulfilling the deficit amount in the coming years. Given the property taxes and Business taxes, we will be able to make it ok.

Madurai Machan - I wish there are more businesses and we come up with more turnover for Madurai! Long live Madurai!!