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Insurance Regulatory and Development Authority now wishes an absolute repair of the regulation overriding the insurance agents. As of now the insurance watchdogs seems to urge for a modification in rules in order that the insurance is vended as long-term products.

Insurance agents shall now be bordered by fresh rules which are placed by the insurance regulator IRDA. However the thought behind the set of laws is to motivate the investors to remain invested for the long-term.

The rules are targeted at curtailing the yield rate and the number of policies that may slip.

Leading Fertilizer Company of the country, Chambal Fertilisers has declared its first quarter financial results for the fiscal year 2010-11. As per the report it has managed to register a remarkable net profit rise for this quarter under review.

The company has posted a net profit of Rs 639.7 crore for the quarter that ended in 30th June, 2010. This net profit figure has grown up by 16% in this quarter as compared to the same quarter in the last fiscal. Chambal Fertilisers has registered a net profit of Rs. 553.1 crore for the first quarter in the financial year 2009-10.

Maytas Infra has declared its joint venture with the Saudi Arabia-based Saudi Bin Laden Group (SBG) Projects Investments. The Saudi based company will be the co-promoter of this venture along with the Indian Inc.

According to the Maytas officials this will help the Indian company to establish its stand at the Gulf region. It is hopeful to utilize the Saudi company's experience in this country. Both the companies have accepted that the joint venture enterprise will be in action.

India's leading Tyre manufacturer, Apollo Tyres has recently started supplies from its Chennai unit which is manufactured in a record time of 14 months.

As the company shipped the first order from the unit of 500 Acelere tyres for passenger cars to Hyundai Motor India Limited, the company hoisted the Indian flag along with the flag of the company to mark the occasion.

It is to be mentioned here that the new unit is Apollo's 9th manufacturing unit globally and the 4th in India and has been able to begin operations in just a span of four months after it commenced production.

The senior Bajaj, Rahul has finally given a green signal to the logic of his son, Rajiv Bajaj to drop the Bajaj brand from the branding strategy of the company.

Notably, the Chairman of Bajaj Auto said in his annual report that the Managing Director often says that while products may generate market share, brands provide pricing power and create higher profits mentioning that he has started to agree with him.

It may be noted here that Rahul Bajaj had earlier shown his discomfort with the logic of dropping the Bajaj brand from the strategy of the company.

In answer to all the controversies regarding the usage of improper base in calculation of inflation, the Industry Secretary RP Singh said that India will soon have a new system of inflation measurement. The new system will become operational from August.

It will be covering the price changes of 250 extra items over and above the already existing ones.

He said that the government is read with a new index and it will soon consider the new items. But before that the system needs approval from the Committee of Secretaries, headed by the cabinet secretary.