Provisions above norm for Rs 1,454 cr exposure to IL&FS group, DHFL, RCap, Reliance Home Fin: GIC Re

General Insurance Corporation of India (Re) said it has exposure totalling Rs 1,453.74 crore in group, DHFL, Reliance Capital and Reliance Home Finance as of March 2020 and it has made provisions over and above the regulatory norms.

The company’s exposure stood at Rs 788.80 crore as of March 31, 2020 by way of investments in debentures of group, Re said in its annual report for 2019-20.

Re has made total 100 per cent provision on both secured and unsecured portion of these investments, it said.

Exposure in bonds of Dewan Housing Finance Ltd (DHFL) was to the tune of Rs 204.80 crore, for which the provisions are 100 per cent on both secured and unsecured portion, the state-owned firm said.

In Reliance Capital and Reliance Home Finance, GIC Re had exposure of Rs 365.26 crore and Rs 94.90 crore, respectively, by the end of March 2020.

GIC Re said it has made provisions to the tune of 15 per cent on secured portion of investments in Reliance Capital and Reliance Home Finance, while that for unsecured portion is

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Nissan Motor receives 5,000 bookings for its compact SUV Magnite

on Monday said it has received 5,000 bookings for its newly launched compact SUV, Magnite, with majority of the bookings for the top variants.

In addition, the company has also received over 50,000 enquiries for the vehicle which was launched on December 2 at an introductory price of Rs 4.99 lakh onwards, with more than 20 variants, said in a release.

“Nissan India has received phenomenal response from Indian consumers with over 50,000 enquiries and 5,000 bookings for the newly launched Nissan Magnite within five days of its launch,” the release said.

More than 60 per cent of the bookings have been received for the top 2 grades (XV and XV Premium), and more than 30 per cent bookings are for CVT Automatic, the carmaker said.

Besides, as much as 40 per cent of the customers who booked the all-new Nissan Magnite came through digital channels, it said.

“The all-new Nissan Magnite has received phenomenal response from the Indian consumers. Increasing footfalls and substantial bookings of the all-new Nissan Magnite has strengthened our belief that the “Make in India,

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Debunking the biggest myths about the silent killer

It’s dubbed the silent killer – and this is enough for some businesses to really start to worry. In short, cashflow problems are a serious issue and are one of the main reasons why so many companies struggle.

According to accountants in London, one of the big reasons behind these issues is that cashflow is just misunderstood. It’s something that’s not the simplest topic in the first place, but there is a lot of misinformation doing the rounds which just keeps on clouding things. As a result, today’s post will analyse some of these myths to hopefully protect your business.

Myth #1 – You can never have too much cash in the bank

This is an interesting one, as in some respects having plenty of cash in the bank is an easy way to alleviate your cashflow concerns. After all, if you do have cash readily available, you can ultimately pay for your suppliers.

However, treat this issue with caution. While it will allow you to avoid a cash flow crisis, it does mean that your business isn’t being as effective as it should be. After all, money in the bank earns less than the rate of inflation and

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