Daily News Snippets- 21 February 2022

1 min read
  1. Emmanuel Macron, President of France, has conducted talks with Russian President Vladimir Putin, to avoid major conflict in Ukraine.
  2. US President Joe Biden has agreed for in principle talks with Russian president with a condition that in case Russia invades Ukraine, severe economic sanctions will be imposed on Russia.
  3. LIC’s revenue for FY 2021 stood around INR 7.03 Lakh crores which is approximately 40% above RIL’s revenue, the PAT stood around INR 4,500 crores for the same period which is low with respect to PAT margins of private players like HDFC Life Insurance. Although the H1 FY 22 PAT of LIC stood around 3000 crores, 95% is to be shared with the policy holders resulting in just 150 crores left for the shareholders.
  4. The private sector banks are spending 8-9% of total expenses on technology that majorly includes the platforms provided by these banks to the customers. Axis, ICICI and Kotak Mahindra bank are the front runners in such tech spendings.
  5. TCS board has decided the buy-back record date of 23rd Feb 2022, a 30-50% of acceptance ratio is expected i.e. A owner of 10 shares[as on 23rd Feb] can expect a buyback of 3-5 shares if he tenders for the same.
  6. EPFO has added 14.6 Lakh new subscribers in the month of Dec-21, a increase of 15%YoY. The addition in new subscribers is different from job creation as there is a minimum employee limit for registrations under EPFO.

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