Axis Bank opens branch in Srinagar

Axis Bank entered Srinagar, by opening its branch at Exhibition crossing in the heart of the city.

With the opening of the branch, the number of branches of Axis Bank in the state rose to three with 16 ATMs.

Senior Vice-President and Compliance Head Rajesh Wadhwa who inaugurated the branch, said it was yet another step towards extensive consumer banking focus which the bank is providing across the country and reinforces commitment to bring superior banking services, marked by convenience.

The bank has a network of 936 branches, 8 extension counters and 3,951 ATMs across the country. The branches, spread across more than 583 cities and towns, enables the bank to reach out to a large cross-section of customers with an array of products and services catering to both the retail and the corporate segment, he said.

He said the bank has the second largest EDC network, the third largest ATM network in India and also has the fourth largest base of debit cards in the country.

The market capitalisation of the bank as on November 26 was Rs 40,180 crore, which makes it the fourth largest in terms of market capitalisation in India. The bank's centralised database enables customers to operate their accounts from anywhere in the country, he said.

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Bajaj Auto Nov sales up 73 per cent

Wed, 2 Dec 2009

Bajaj Auto, India's no. 2 motorcycle maker, said on Wednesday its November sales rose 73 per cent from a year earlier to 276,759 vehicles.

It motorcycles sales in the month rose an annual 84 per cent to 242,390 units.

The company said it will launch a sub-150cc Pulsar on Dec. 9

Financials and Energy Lead Decline in Stocks

DECEMBER 2, 2009

Stocks turned lower as bearish analyst comments hurt bank shares, and a slide in oil prices dented shares of energy producers.

The Dow Jones Industrial Average recently was off 36 points, or 0.3%, at 10436. Financials were the Dow's weakest components with J.P. Morgan Chase, American Express, and Bank of America off more than 1% each. The Wall Street Journal reported that two chief executive candidates said Bank of America should consider breaking itself up, though the board has rejected that idea.

Also weighing on banks, UBS analysts predicted that capital markets' seasonal slowing could come earlier this year, and cut their fourth-quarter earnings target for Morgan Stanley, J.P. Morgan, Bank of New York Mellon and others. In addition, Sanford C. Bernstein said J.P. Morgan could face a revenue decline of as much as $3 billion under a "worst case" scenario for derivatives legislation.

Technology shares were a relative bright spot, helping the Nasdaq Composite Index to scratch out a 0.2% gain. But the S&P 500 was off 0.2% to 1107, led by a 1% decline in its energy sector following the release of data showing surprisingly robust U.S. reserves of oil.

Crude futures were recently down $1.99 to $76.38 a barrel on the New York Mercantile Exchange.

The Dow reached a new 14-month closing high on Tuesday as fears over a default of billions of debt in Dubai subsided and investors moved back toward riskier investments. Some of that movement reversed Wednesday, though traders said the move hasn't been accompanied by sufficient volume to confirm that a new downtrend is underway.

"It would be good to see us break into a new trading range, but that's been difficult to do," said Don Bright, a partner at the proprietary firm Bright Trading in Chicago. "Barring any big news, like another Dubai type of development, that may continue to be the case through the end of the year."

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World Bank Seeks More Capital from India, Ups Loans

• DECEMBER 2, 2009

The World Bank pledged to lend more to India and sought the country's support to expand the multilateral lender's own capital base, underscoring its tilt toward developing countries to draw on resources as rich nations struggle out of a deep global downturn.

If India decides to increase its contribution, it will help the World Bank meet its developmental finance needs, a statement from the Indian government said, citing World Bank President Robert Zoellick.

Mr. Zoellick is on a four-day trip to India and the statement follows his meeting with Finance Minister Pranab Mukherjee.

The World Bank is also in talks with several other developing nations, such as Brazil and China, to boost its capital.

These economies have escaped relatively unhurt from the global financial crisis, with brisk economic growth returning to China and India.

India's economy expanded 7.9% in July-September--a faster pace than expected--helped by the government's stimulus measures.

"I was very delighted to see the very strong quarter growth," Mr. Zoellick told reporters after the meeting with the finance minister.

India's government is spending heavily to keep more cash in the hands of its rural population, which constitutes nearly 65% of the country's people, and largely represents the strong consumer base that is lapping up new mobile phones and motorcycles.

Many of the South Asian country's development projects, which aim to boost rural infrastructure, are funded by the World Bank. India is the multilateral lender's largest borrower.

"The prime purpose of the visit is to ensure how we (the World Bank) can deploy our resources most efficiently," Mr. Zoellick told reporters.

The World Bank expects its current commitments to India to rise to $7.0 billion in 2009, from the past four year's annual average of $2.3 billion.

Its portfolio for the country consists of 68 projects with a total commitment of $19.57 billion.

The bank plans to offer between $5 billion and $6 billion over the next three years as interest-free loans and grants to India, Mr. Zoellick said.

The International Bank for Reconstruction and Development, an arm of the World Bank, plans to lend $18 billion over three years to India, while International Finance Corp.--the private equity arm of the multilateral lender--plans to lend $3.5 billion over same period, Mr. Zoellick added.

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ICICI Pru ULIP Plans

ICICI Prudential LifeStage Assure cushions your first investment from market uncertainties by providing guaranteed additions of first year premium while allowing your future year premiums to benefit from equity markets; in the long term. It also gives you the flexibility to invest in Life Cycle bases Portfolio Strategy , which allows you to redistribute your money across various asset classes based on your life stage and risk tolerance. Thus, ICICI Prudential LifeStage Assure gives you a flying start on long term wealth creation and fulfilling your aspirations.

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Rupee nosedives by 38 paise at 46.82 a dollar in early trade

27 Nov 2009

The Indian rupee on Friday plunged by 38 paise against the US dollar in early trade largely on weak Asian cues.

At the Interbank Foreign Exchange (Forex) market, the domestic unit traded at 46.82 a dollar against the last close of 46.44 in first five minutes of trading.

Dealers said the domestic currency came under pressure mainly because of fear of capital outflows by foreign funds as equity market is expected to open lower in tandem with other Asian markets.

However, the dollar's weakness against some other international currencies capped rupee's losses.

Rupee drops further by 46 paisa against dollar

27 Nov 2009

MUMBAI: The Indian rupee dropped further by 46 paisa to 46.90 against the greenback on persistent demand for dollar from oil companies amid sharp fall in equity market.

The rupee resumed lower at 46.85/87 per dollar against the yesterday's closing level of 46.44/45 per dollar and dropped further to 46.90 per dollar before quoting at 46.77/78 at 1030 hours.

Asian stocks slumped on Friday as the Dubai-debt shockwaves hit the region, shaking banking shares and pushing yen to a fresh 14-year high against struggling dollar as investors unwound risky trades.

Dealers at the Interbank Foreign Exchange (forex) market said oil refiners bought dollars for their monthly import payments.

They said a sharp fall in local stocks after a meltdown in Asian markets also weighed on the rupee sentiment.

Indian benchmark Sensex today dropped further by 338 points or 2.01 per cent in the early trade.

Satyam, Siemens, Patni in fray for power cos automation

IT majors including Mahindra Satyam, Siemens and Patni Computers
are in the race for selection as IT implementing agencies for the government's automation programme aimed at reforming the ailing power distribution sector in the country.

The initiative under Restructured-Accelerated Development
and Reforms Programme (R-APDRP) would result in the implementation of IT projects worth Rs 10,000 crore over the next three years.

The move seeks to generate baseline data to detect points of power losses (through theft and technical losses) more accurately so that corrective action could be taken. The government wants to put in place an IT backbone that supports reduction of aggregate technical and commercial loss (AT&C) in distribution to 15% in project areas from the existing 30%.

“We have received bids from over 50 IT companies for empanelment as IT implementing agencies (ITIA) under R-APDRP. We expect to finalise these bids by next week,” an official of Power Finance Corporation (PFC) told ET requesting anonymity. The power ministry has appointed PFC as the nodal agency for running R-APDRP.

Federal Loan Consolidation-continuation10

An account will be either:

* in-School
* in-Military
* grace
* repayment-current
* repayment-delinquent
* deferment
* forbearance
* paid-in-full
* suspended
* default
Subsidized Loan
A loan for which a borrower is not responsible for the interest while in an in-school, grace, or deferment status. Subsidized loans include Direct Subsidized , Direct Subsidized Consolidation Loans, Federal Subsidized Stafford Loans and Federal Subsidized Consolidation Loans.

Total Education Indebtedness
Total Education Indebtedness is the sum of a Direct Consolidation Loan, and other eligible education indebtedness, up to an amount equal to the Direct Consolidation Loan. Total Education Indebtedness is used to calculate the number of payments under the Standard and Graduated Repayment Plans (for examples, click here).

Unsubsidized Loan
A loan for which a borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan. Unsubsidized loans include: Direct Unsubsidized Loans, Direct PLUS Loans, Direct Unsubsidized Consolidation Loans, and Federal Unsubsidized Stafford Loans, Federal PLUS Loans, and Federal Unsubsidized Consolidation Loans.

Variable Interest
The rate of interest charged on a loan that changes annually and fluctuates with a stated index.

Verification Certification
The process by which a consolidation lender requests that a loan holder certify a loan's payoff balance.

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Federal Loan Consolidation-continuation9

**Extended repayment terms are available to Direct Loan borrower with no outstanding principal or interest balances as of October 7, 1998 and with more than $30,000 in Direct Loans.

* Income Contingent Repayment (ICR) Plan - payment amount is based on your income (and your spouse's income, if you are married), loan balance and family size, and can vary year-to-year for up to 25 years.

Satisfactory Repayment Arrangements
Borrowers in default on Direct Loan and FFEL Program loans who wish to consolidate their loans in a plan other than the Income Contingent Repayment (ICR) plan must have made satisfactory repayment arrangements with the loan holder(s). Three consecutive, voluntary, on-time monthly payments on a defaulted Direct Loan or FFEL Program loan constitute satisfactory repayment arrangements. Borrowers must work with their current loan holders to set up reasonable and affordable payments. Borrowers who wish to consolidate defaulted Perkins or health professions loans should contact their loan holders for information on satisfactory repayment arrangements under those programs.

Separation Date
The actual or anticipated date when the borrowers graduate, leave school, or drop to a less than half-time status. The separation date is used to determine the loan's grace period and the date the first loan payment will be due.

Servicer
An entity designated to track and collect a loan on behalf of a loan holder.

Simple Daily Interest
The method used to calculate interest on student loans.

Status (Loan status)
The present state of your Subsidized, Unsubsidized, PLUS, or Consolidation loan(s).

TAgs:Federal Aid; Federal Programs; Financial Aid Applicants; Financial Aid Recipients; Loan Programs; Student Financial Aid; Student Financial Aid

Federal Loan Consolidation-continuation8

Repayment (also repayment period)
Making payments on a loan. The "repayment period" is the period during which payments are required to be made.

Repayment Plan(s)
The Direct Consolidation Loan Program offers four repayment plans with various term selections:

* Standard Repayment Plan - Under this plan, you will pay a fixed amount of at least $50 each month for up to 10 to 30 years, based on your total education indebtedness. This plan may result in lower total interest paid when compared to repayment under one of the graduated plans.

If you have not selected a repayment plan by the time repayment begins, your loan(s) will be placed on the Standard Repayment Plan.

* Graduated Repayment Plan - Under this plan, you will pay a minimum payment amount at least equal to the amount of interest accrued monthly for up to 10 to 30 years, based on your total education indebtedness. Your payments start out low, and then increase every two years. Generally, the amount you will repay over the term of your loan will be higher under the Consolidation Graduated Repayment Plan than under the Consolidation Standard Repayment Plan. This plan may be beneficial if your income is low now but is likely to steadily increase.

* Extended Repayment Plan - To qualify for this plan, your Direct Loan balance must be greater than $30,000, and you will have up to 25 years to repay your loan(s). Plan options include:

Monthly Payment Option - You will pay a fixed amount of at least $50 each month for up to 25 years. Repayment under this plan will result in lower total interest paid when compared to graduated plans with similar terms.
Graduated Monthly Payment Option - You will pay a minimum payment amount of at least $50 or the amount of interest accrued monthly, whichever is greater, for up to 25 years. Your payments start out low and then increase every two years. Repayment under this plan may provide lower initial monthly payments, although the total interest paid may be greater when compared to plans with similar terms with fixed payments. This plan may be beneficial if your income is low now but is likely to steadily increase.

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Federal Loan Consolidation-continuation7

Reasonable and Affordable Payments
Rehabilitating a defaulted loan or making satisfactory payment arrangements requires borrowers to make "reasonable and affordable" payments. The holder of a Direct Loan or FFEL Program loan determines on a case-by-case basis what constitutes a reasonable and affordable payment on defaulted loans. Loan holders consider disposable income and such expenses as housing, utilities, food, medical costs, work related expenses, dependent care, and other Federal education loan debt. Borrowers are then provided with a written statement of the payment and an opportunity to object to those terms.

Rebate (Direct Loan Up-Front Interest Rebate Program)
The amount of the up-front interest rebate given to Direct Subsidized Loan, Direct Unsubsidized Loan and Direct Plus Loan borrowers beginning with loans made for the 2000 - 2001 program year. The rebate amount is equal to 1.5 percent of the loan amount borrowed. Borrowers must make their first 12 required monthly payments on time or the rebate amount will be added back to the principal balance on their loans.

Refund
The total amount of funds returned to the Direct Loan Program as unused for the student's education.

Rehabilitation
The process of bringing a loan out of default and removing the default notation on a borrower's credit report. To rehabilitate a Direct or FFEL loan, a borrower must make at least nine (9) full payments of an agreed amount within twenty (20) days of their monthly due dates over a ten (10) month period. To rehabilitate a Perkins Loan, a borrower must make twelve (12), on-time, monthly payments of an agreed amount to the Department. Rehabilitation terms and conditions vary for other loan types and can be obtained directly from loan holders.

Federal Loan Consolidation-continuation6

PLUS Loan
PLUS Loans are available to parents of dependent graduate students and to students enrolled in graduate and professional programs. PLUS loans are unsubsidized loans that accrue interest from the date of disbursement.

Prepayment
A prepayment is an amount in excess of the amount due on a loan. If borrowers have more than one Direct Loan, they must specify which loan they are prepaying. Like all other Direct Loan payments, a prepayment first will be applied to any outstanding fees and charges, next to outstanding interest, and then to the principal balance of the loan(s). There is never a penalty for prepaying principal or interest on Direct Loan Program loans.

Principal Loan Balance Outstanding (principal balance)
The total principal amount outstanding on a borrower's Direct Loan(s). Principal balance will include the original amount(s) disbursed for the loan(s), any adjustments made to the loan disbursement amount, and any interest capitalized on the account(s).

Promissory Note
The binding legal document that borrowers sign when they obtain loans. Promissory notes define the conditions under which funds are provided and the terms under which borrowers agree to pay back the loan. Promissory notes include information about the interest rate and about deferment and cancellation provisions.

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Federal Loan Consolidation-continuation5

In-School Status
The status of a loan prior to entering the grace or repayment period.

Interest
A loan expense charged by the lender and paid by the borrower for the use of borrowed money. The expense is calculated as a percentage of the unpaid principal amount (loan amount) borrowed.

Loan(s)
Money borrowed from a lending institution or the U.S. Department of Education that must be repaid.

NSLDS
The National Student Loans Data System is a centralized database that stores information on all U.S. Department of Education loans and grants. NSLDS also contains borrowers’ school enrollment information. Borrowers can access this information online using their Department of Education PIN.

Out of School
Borrowers are "out of school" if they are making scheduled payments on their federal education loans (repayment) or they are in a period of grace, deferment, or forbearance.

Payment Amount
The total amount of a borrower's most recent payment.

Payment Date
The date borrower’s payments are received and applied to their loan accounts.

PIN
Your PIN serves as your identifier to allow access to personal information in various U.S. Department of Education systems.

Your PIN also acts as your digital signature with some online forms. Use your PIN to electronically sign your online Loan Consolidation Application and Promissory Note, Deferment, or Forbearance forms.

If you do not already have a PIN, you can request one online by selecting the Request a PIN button link located on the left menu bar. The PIN you will receive will be your universal U.S. Department of Education PIN.

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Federal Loan Consolidation-continuation4

HHS loans include:

* Health Professions Student Loans (HPSL)
* Loans for Disadvantaged Students (LDS)
* Health Education Assistance Loans (HEAL)
* Nursing Student Loans (NSL)

Holder (also holder of loans/loan holder)
A holder (loan holder) is an entity that holds a loan promissory note and has the right to collect from the borrower.

Income Contingent Repayment(ICR) Plan

A repayment plan that bases your monthly payment on your yearly income, family size, and loan amount. As your income rises or falls, so do your payments. After 25 years, any remaining balance on the loan will be forgiven, but you may have to pay taxes on the amount forgiven.

Each year your monthly payment will be based on your family size, annual Adjusted Gross Income (AGI) as reported on your federal tax return, and the total amount of your Direct Loan(s). To participate in the ICR Plan you must authorize the U.S. Internal Revenue Service (IRS) to inform the U.S. Department of Education (Department) of the amount of your income. This information will be used to calculate your repayment amount, which will be adjusted annually to reflect changes in your AGI If you select the ICR Plan, you will be billed for only the interest amount that accrues on your loan each month until you complete and return the required documentation. We cannot place you on ICR Plan until we receive your completed forms.

Independent Student
An independent student is at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, or someone with legal dependents other than a spouse.

Federal loan Consolidation-continuation3

* Most FFEL and Direct Loans have 6-month grace periods.
* Perkins Loans have grace periods of either 6 or 9 months, depending on when the loan was first disbursed.
* Health professions loans have grace periods of 9-12 months.

During the grace period, no interest accrues on Subsidized loans. Interest accrues on Unsubsidized loans during grace periods, and this interest is capitalized when borrowers’ loans enter repayment.

Borrower's repayment periods begins the day after the grace period ends. First payments will be due within 60 days after the repayment period begins.

Each loan has only one grace period. If borrowers return to school after the grace periods has expired, the borrowers’ loans qualify for deferment while borrowers are enrolled but return to repayment after borrowers leave school. There is no additional grace period.

Grace Period End Date
The date on which a grace period for a loan is expected to end.

When applying for a Direct Consolidation Loan, a grace period end date must be less than nine (9) months from the date you apply, or your Consolidation application cannot be accepted.

Half-time
A student is considered half-time when carrying at least one half the academic workload of a full-time student as determined by the school.

Health Professions Loans
Loan programs authorized by the Public Health Services Act and administered by the U.S. Department of Health and Human Services (HHS) rather than the U.S. Department of Education. Although health professions loans can be included in consolidation loans, borrowers should be aware of the advantages and disadvantages of consolidating these loan types because of the differences between the programs. See the benefits comparison chart for details.

Federal Loan Consolidation-Continuation-2

Direct PLUS Loan (PLUS Loan)
Direct PLUS Loans are unsubsidized loans available to parents of dependent students, and to students enrolled in graduate or professional programs. These loans are available regardless of financial need and the amount of eligibility depends on the total cost of education.

Disbursement
Payment of loan proceeds by the lender. During consolidation, this term refers to sending payoffs to the loan holders of the underlying loans being consolidated.

Disclosure Statement
A statement showing a borrower's loan term, payment schedules and monthly payment amount for their loans.

Federal Family Education Loan Program(FFEL Program)
A Federal program authorized under Title IV of the Higher Education Act that provides loans to eligible student and parent borrowers. The program consists of Subsidized and Unsubsidized Federal Stafford Loans, Federal PLUS Loans, and Subsidized and Unsubsidized Federal Consolidation Loans. Funds are provided by private lenders such as banks, credit unions, and other private financial institutions. The loans are backed by the Federal government.

Forbearance
A period during which your monthly loan payments are temporarily suspended or reduced. You may qualify for forbearance if you are willing but unable to make loan payments due to certain types of financial hardships.

Grace Period
After borrowers graduate, leave school, or drop below half-time enrollment, loans that were made for that period of study have several months before payments are due. This period is called the "grace period."

Grace periods extend from 6 to 12 months after borrowers leave school:

Federal Loan Consolidation- Continuation1

Normally, when you consolidate your existing loan(s) into a new Direct Consolidation Loan, you will be required to start repayment of your new loan immediately. However, if any loan you want to consolidate is still in a grace period, you can delay entering repayment on your new Direct Consolidation Loan until closer to your grace period end date by entering your expected grace period end date (month and year) in the space provided on the application. We will start processing your application about 45 days before the expected grace period end date that you provide. If you leave the expected grace period end date blank on your consolidation application, your Direct Consolidation Loan will enter repayment immediately.

You can select a date up to nine (9) months into the future. If your grace end date is more than 9 months away, wait to submit your application.

Default
Failure to repay a loan according to the terms agreed to when borrowers signed their promissory notes. Default occurs when a Direct Loan borrower becomes 270 days delinquent in making payments on their loan(s). The consequences of default can be severe.

Default Aversion
The activities of a guaranty agency that are designed to prevent a default by a borrower who is at least 60 days delinquent and that are directly related to providing collection assistance to the lender.

Deferment
A deferment is a temporary suspension of a borrower's monthly loan payment. There are many different types of deferments available.

During deferment of subsidized loans, principal payments are postponed and interest does not accrue.

During deferment of unsubsidized loans, principal payments are postponed but interest continues to accrue. Accrued unpaid interest will be added to the principal balance (capitalized) of the loan(s) at the end of the deferment period. This will increase the amounts borrowers owe.

Delinquent
Delinquency status indicates that borrowers’ accounts have become past due on payment. This occurs when borrowers’ loan payments are not received by the due dates. Accounts remain delinquent until borrowers bring their accounts current with payments, deferments, or forbearances. If borrowers’ accounts have become delinquent and the borrowers are unable to make payments, deferments or forbearances should be considered.

Dependent student(dependent undergraduate student)
A student who does not meet any of the criteria for an independent student. An independent student is at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, or someone with legal dependents other than a spouse.

Direct Loan Servicing Center
The U.S. Department of Education's agent contracted to collect Direct Loans and handle deferments, forbearances, and repayment options.

Types Of Insurances and Plans

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federal loan consolidation

The Higher Education Act (HEA) provides for a loan consolidation program under both the Federal Family Education Loan (FFEL) Programs and the Direct Loan Program. Under these programs, a borrower’s loans are paid off and a new consolidation loan is created. These programs simplify loan repayment by combining several types of Federal education loans (that may have different terms and repayment schedules or may have been made by different lenders) into one new loan. The interest rate may be lower than on one or more of the underlying loans. In addition, the monthly payment amount on a consolidation loan is usually lower and the amount of time to repay may be extended beyond what was available in the separate loan programs. These features should result in more manageable debt and should make borrowers less prone to default.

Account
A grouping of one or more Direct Loans disbursed by the U.S. Department of Education. Borrowers can have one or more accounts. Each account has a unique number assigned to identify it. The format of an account number is your Social Security Number (SSN) plus a one-digit identifier added to the end (e.g., 123-45-6789-1). If you receive a notice that affects all of your possible accounts, the account number on the notice may be abbreviated to the Social Security Number only.

Accrue
The process whereby interest accumulates on your loan. When we speak of "interest accruing on your loan," we mean that the interest due on your loan is accumulating.

Borrower
Individual who signed and agreed to the terms in the promissory note and is responsible for repaying a loan.

Cancellation
Some student loan programs allow for all or part of the total loan principal and accrued interest to be canceled in certain circumstances. A canceled loan may also be referred to as a "discharged loan."

Capitalization
Adding unpaid accrued interest to the principal balance. Capitalizing interest increases the principal amount of the loan and the total cost of the loan. This occurs at the end of a deferment, forbearance, or grace period on Unsubsidized Loans, and at the end of a forbearance period on a Subsidized Loan.

Collection Costs
When a defaulted Direct Loan or FFEL is included in a Direct Consolidation Loan, collection costs of up to 18.5 percent of the outstanding principal and interest are added to the outstanding balance. When defaulted Perkins Loans and Health and Human Service (HHS) loans are consolidated, collection costs are also added. However, collection costs on these loans may exceed 18.5 percent of the outstanding principal and interest.

Consolidation
The process of combining one or more eligible educational loans into a single new loan. The Direct Loan Program offers a Direct Consolidation Loan for those borrowers who are interested in consolidating their eligible educational loans.

Consolidation Hold
Delays the processing of your Direct Consolidation Loan until closer to the end of your grace period if any of the loans you want to consolidate are in a grace period.

Student Loan Consolidation Center

Consolidating student loans is a practical repayment tool that bundles all your federal school loans into one loan, significantly reducing your monthly payment. To calculate your monthly savings, try our student loan consolidation calculator. StudentLoanConsolidator.com offers private student loan consolidation in addition to federal student loan consolidation.

Student Loan Consolidator is a service of the Student Loan Network, one of the nation's fastest growing providers of student loans and related information. Since 1998, we have helped over 25 million students and parents access more than $1 billion in federal and private student loans, college scholarships, student credit cards and consolidation funding for undergraduate, graduate and continuing education. Our loan products are available both on the Internet and by phone in consultation with our Financial Aid Consultants. Learn more about the Student Loan Network at www.studentloannetwork.com.

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Receive a Quote by Phone : 1-800-292-2851

http://www.autoinsexpo.com

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National Insurance Company Limited

National Insurance Company Limited was incorporated in 1906 with its Registered office in Kolkata. Consequent to passing of the General Insurance Business Nationalisation Act in 1972, 21 Foreign and 11 Indian Companies were amalgamated with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India. After the notification of the General Insurance Business (Nationalisation) Amendment Act, on 7^thAugust 2002, National has been de-linked from its holding company GIC and presently operating as a Government of India undertaking.

National Insurance Company Ltd (NIC) is one of the leading public sector insurance companies of India, carrying out non life insurance business. Headquartered in Kolkata, NIC's network of about 1000 offices, manned by more than 16,000 skilled personnel, is spread over the length and breadth of the country covering remote rural areas, townships and metropolitan cities. NIC's foreign operations are carried out from its branch offices in Nepal.

Befittingly, the product ranges, of more than 200 policies offered by NIC cater to the diverse insurance requirements of its 14 million policyholders. Innovative and customized policies ensure that even specialized insurance requirements are fully taken care of.

The paid-up share capital of National is Rs.100 crores. Starting off with a premium base of 500 million rupees (50 crores rupees) in 1974, NIC's gross direct premium income has steadily grown to 4279.90 million rupees (427.99 crores rupees) in the financial year 2008-2009.

National transacts general insurance business of Fire, Marine and Miscellaneous insurance. The Company offers protection against a wide range of risks to its customers. The Company is privileged to cater its services to almost every sector or industry in the Indian Economy viz.

Banking, Telecom, Aviation, Shipping, Information Technology, Power, Oil & Energy, Agronomy, Plantations, Foreign Trade, Healthcare, Tea, Automobile, Education, Environment, Space Research etc.

National Insurance is the second largest non life insurer in India having a large market presence in Northern and Eastern India.

The steady growth in premium income has been commensurately matched by profits over the years. As of March 2009, NIC's general reserve stood at 1308.05 million rupees (130.80 crores rupees) with a net worth of 5015.97 million rupees (501.59 crores rupees) signaling strong financial fundamentals. No wonder than that NIC has been accorded “AAA/STABLE” financial strength rating by CRISIL rating agency, which reflects the highest financial strength to meet policyholders’ obligations.

National Insurance Company Limited

Shop No. 3-148, Jhaveri Mansion, 2nd Floor, Bank Street, Koti, Hyderabad, Andhra Pradesh 500001

040 24756685‎

United American Insurance Company

In 1947, United American Insurance Company established an organization based on four core values: stability, service, quality, and commitment. Today, UA continues to evolve but remains defined by these principles set more than a half century past. It is by honoring our foundation that we also forge our future and continue to ensure our success.

Stability Stability is an absolute essential in insurance. When selecting an insurance provider, customers want a company they can depend upon to pay claims. Clients invest in a policy and expect that policy to perform when needed. United American has often said it is the company that does what it says it will do. For more than a half century, United American has been meeting the individual insurance needs of its customers.

For more than 30 consecutive years, United American has earned the A+ (Superior) Financial Strength Rating from A.M. Best Company (rating as of 6/09). We are also rated AA- "Very Strong" for Financial Strength by Standard & Poor's (as of 12/08).

Service
Service is often the distinction between a good and a great company. A great company goes the extra mile to not just sell a product, but to establish a relationship with the customer. At United American, we believe we are a great company, and we continuously strive to deliver superior service and customer convenience.

Customers, who subscribe to UA Partners, our optional, noninsurance discount health services program are provided with the peace of mind that their claims will be delivered to United American electronically by our "Automatic" Claims Filing®(ACF) system - without paperwork or hassles.

United Insurance Co.LTD.

United India Insurance Company Limited was incorporated as a Company on 18th February 1938. General Insurance Business in India was nationalized in 1972. 12 Indian Insurance Companies, 4 Cooperative Insurance Societies and Indian operations of 5 Foreign Insurers, besides General Insurance operations of southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited. After Nationalization United India has grown by leaps and bounds and has 18300 work force spread across 1340 offices providing insurance cover to more than 1 Crore policy holders. The Company has variety of insurance products to provide insurance cover from bullock carts to satellites.

United India has been in the forefront of designing and implementing complex covers to large customers, as in cases of ONGC Ltd , GMR- Hyderabad International Airport Ltd, Mumbai International Airport Ltd Tirumala-Tirupati Devasthanam etc. We have been also the pioneer in taking Insurance to rural masses with large level implementation of Universal Health Insurance Programme of Government of India & Vijaya Raji Janani Kalyan Yojana ( covering 45 lakhs women in the state of Madhya Pradesh) , Tsunami Jan Bima Yojana (in 4 states covering 4.59 lakhs of families) , National Livestock Insurance and many such schemes.

We have also made our presence in more than 200 tier II & III towns and villages through our innovative Micro Offices.

• UI is a leading General Insurance Company.
• More than three decades of experience in Non-life Insurance business.
• Formed by the merger of 22 companies, consequent to nationalisation of General Insurance.
• Head Quarters at Chennai.

United Insurance Co

Dno:4-5-439, Badi Chowdi,
Hyderabad, Andhra Pradesh 500095

040 24652461‎

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Tata AIG Life Insurance Company Ltd.

Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company, formed by the Tata Group and American International Group, Inc. (AIG). Tata AIG Life combines the Tata Group’s pre-eminent leadership position in India and AIG’s global presence as one of the world’s leading international insurance and financial services organization. The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 per cent. Tata AIG Life provides insurance solutions to individuals and corporates. Tata AIG Life Insurance Company was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.

Tata AIG Life Insurance Company Limited and Tata AIG General Insurance Company Limited (collectively 'Tata AIG') are joint ventures of the Tata Group and American International Group, Inc. (AIG). Tata AIG combines the strength and integrity of the Tata Group with AIG's international expertise and financial strength.

THE TATA GROUP

Tata is a rapidly growing business group based in India with significant international operations. Revenues in 2007-08 are USD 62.5 billion (around Rs. 251,543 crores), of which 61% was from business outside India. The Group’s Net Profit for 2007-08 is USD 5.4 billion (around Rs. 21,578 crores). The Group employs around 350,000 people worldwide. The Tata name has been respected in India for 140 years for its adherence to strong values and business ethics. The business operations of the Tata Group currently encompass seven business sectors - Communications and Information Technology, Engineering, Materials, Services, Energy, Consumer Products and Chemicals. The Group's 28 publicly listed enterprises have a combined market capitalisation of around $60 billion, among the highest among Indian business houses, and a shareholder base of 2.9 million. The major companies in the Group include Tata Steel, Tata Motors, Tata Consultancy Services (TCS), Tata Power, Tata Chemicals, Tata Tea, Indian Hotels, Tata Teleservices and Tata Communications.

American International Group, Inc. (AIG)

American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.

Tata A I G Life Insurance Company Ltd

2nd Floor, My Home Toycon,
Kundanbagh, Kundan Bagh Rd,
Begumpet, Hyderabad,
Andhra Pradesh 500016

Ph: 040 66625400‎

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Kotak Mahindra Old Mutual Life Insurance Ltd.

Kotak Mahindra is one of India's leading financial organizations, offering a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the diverse financial needs of individuals and corporates.

The group has a net worth of over Rs. 6,799 crore and has a distribution network of branches, franchisees, representative offices and satellite offices across cities and towns in India and offices in New York, London, San Francisco, Dubai, Mauritius and Singapore. The Group services around 6.4 million customer accounts.

Kotak Mahindra Old Mutual Life Insurance Ltd.

Al Samad Complex, No. 3-6-12 & 13,
3rd Floor, Liberty Road, Opp. TTD Bhavan,
Himayatnagar, Hyderabad,
Andhra Pradesh 500029

Ph: 040 66416030‎