India Infoline gets approval as insurance broker

Key Takeaways from India Infoline's concall: Total income was at Rs 2.6 million, which is down by 26% YoY. The company has got approval as Insurance broker. They discontinued unsecured lending. The NPA was less than 1%. They are setting up subsidiaries in Mauritius and London. The total debt was Rs 160 crore and cash balance was at Rs 884 crore as on 31st December 2008. Life insurance agency business will improve in coming quarters. The company has total 576 branches and 400 brokers. They don’t lay off people. The loan against shares was at Rs 193 crore which is come down significantly.