Countering the regulator's objection that all payments are to be done through banking channel, Sahara Group said it must be recalled here that, till 4 years back, as per the statement of World Bank and Reserve Bank, 50-60 per cent of Indians did not have bank accounts.
IRDAI had on July 28 asked private sector life insurer ICICI Prudential Life to take over the business of Sahara Life on or before August 21. A 15-day moratorium has been given to policyholders to pay renewal premia.
With Sahara group refusing to furnish the requisite bank guarantee,the BCCI decided to terminate Pune Warriors from the IPL after a meeting of its working committee. The decision to terminate Pune,owned by Sahara,would leave the IPL an eight-team affair for the time being. Given Saharas continued position that it would not deliver the bank guarantee,the […]