Private life insurer ICICI Prudential Life on Monday reported net profit of `808 crore for the financial year ended March 31, 2011, against `258 crore reported in the corresponding period a year ago. During 2010-11, the insurer recorded a 24 per cent growth in new business premium at `7,862 crore. ICICI Prudential Life's assets under management were higher by 19 per cent at `68,150 crore, compared with 57,319 crore a year ago. This includes an equity corpus of `43,325 crore.
What are the factors affect the changes in rate of Fixed Deposits? Fixed Deposits are now considered to be a very old fashioned method of saving, but still attract many investors since they have guaranteed returns at the end of the tenure of the investment at a decent interest rate. There are various factors that affect the rates of interest for a Fixed Deposit. Policies of the Reserve Bank of India - The several norms and restrictions posed by the Reserve Bank of India , in order to gain optimum control over credit and inflow and outflow of fund throughout the country. The repo rate changes, cash reserve ration tends to change and these changes affect the banking products like Fixed Deposits, loans etc. Recession - When unemployment in a country crosses the benchmark set Recession hits, and slowly the country faces an economic slow movement, affecting the purchasing power of the people in the country, forcing the Reserve Bank of India to release more funds in the financial marke...
