Sri G. Srinivasan, CMD, The New India Assurance Co. Ltd., a Public Sector Non-life Insurance Company, presented a dividend cheque of Rs. 220 crore to the Union Finance Minister Sri Arun Jaitley.

Dividend payment by a public sector insurer to the government reported as a corporate-to-state financial transfer. A public sector non-life insurer effected a formal dividend payment to the Union Government by presentation of a dividend cheque from the insurer's Chairman and Managing Director to the Union Finance Minister, evidencing the transfer of corporate funds to government receipts and publicly disclosing the remittance.