LIC of India celebrates 69th anniversary in Hyderabad
Hyderabad: The Life Insurance Corporation of India (LIC) marked its 69th anniversary on Sunday with a flag-hoisting ceremony at the Zonal Office building in Saifabad, Hyderabad. The event was led by Sri Puneet Kumar, Zonal Manager of LIC’s South Central Zone.
Addressing the gathering, Puneet Kumar recalled that LIC was established in 1956 with an initial capital of Rs 5 crore from the Central Government. Today, the Corporation has grown into the world’s largest insurance brand with an asset base of Rs 56.22 lakh crore, as per Brand Finance Insurance 2024.
He highlighted that LIC currently offers 35 insurance products under its individual business, including Endowment, Term Assurance, Pension, Micro Insurance, Children’s plans, and Unit Linked products, catering to diverse needs across society.
Puneet Kumar also spoke about LIC’s focus on social initiatives. He pointed to the success of the Bima Sakhi programme, which empowers women in rural areas by giving them financial independence. So far, 48,882 women agents have been recruited under this initiative.
He further informed that a revival campaign is currently underway, offering up to 30% rebate on interest for the revival of lapsed policies. The campaign will run until October 17, 2025.
On the occasion, he urged employees to focus on three principles – My Country First, My Earth First, and My LIC First. He called upon staff to avoid the use of plastic, contribute towards environmental protection, and support the government’s Make in India initiative.
Puneet Kumar encouraged all LIC employees and agents to rededicate themselves to the Corporation’s motto, Yogakshemam Vahamyaham (your welfare is our responsibility), and continue working with commitment to take LIC to greater heights.
The event was attended by senior officials, including Sri Rajesh Bharadwaj, Sri M Ravi Kumar, Sri Saravana Ramesh, Sri G S Sastry, Sri P G Kumaravaidyalingam, and Sri A A M Hilali.
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Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
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The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
