Prime Minister Narendra Modi’s wealth has increased in four years from 2014 to 2018
India’s Prime Minister Narendra Modi has only Rs 48,944 on hand cash, but he is also a millionaire. Modi’s cash balance has dropped 67 percent from last year. On March 31, 2018, the Prime Minister had Rs 48,944 cash. In the same period last year, the Prime Minister had Rs 1,50,000 cash. PM Modi had rupees 89,700 in 2015-16, which rose to Rs 150,000 in 2016-17.According to a file filed for the year 2017-18, the real estate and movable assets of the Prime Minister reached Rs 2 crore 28 lakh. This includes a residential property of PM Modi at Gandhinagar and movable property worth Rs. 1,28,50,498. In 2016-17, the Prime Minister had an economic wealth of Rs 2 crore. In 2002, Modi purchased a plot of 3,531,45 sq ft in Gandhinagar for only Rs 2 lakh.
The Authority shall cancel the registration made in pursuance of the provisions of sub-section (5), if the insurer referred to therein fails to become, within a period of three months from the date of such registration’ a member of the group or proposed group, as the case may be, and, where such registration has been cancelled, the provisions of this Act shall apply to the insurer as if he had not been registered for the class or classes of insurance business in relation to which his registration has been cancelled. Securities already deposited with the Controller of Currency in compliance with the Indian Life Assurance Companies Act, 1912 (6 of 1912), shall be transferred by him to the Reserve Bank of India and shall, to the extent of their market value as at the date of the commencement of this Act, be deemed to be deposited under this Act, as the instalment or as part of this instalment to be made under the foregoing provisions of this section before the application for registration is made whether any such application is or is not in fact made.
A deposit made in cash shall be held by the Reserve Bank of India to the credit of the insurer and shall except to the extent, if any, to which the cash has been invested in securities under sub-section (9A), be returnable to the insurer in cash in any case in which under the provisions of this Act a deposit is to be returned; and any interest accruing due and collected on securities deposited under sub-section (1) or sub-section (2) shall be paid to the insurer, subject only to deduction of the normal commission chargeable for the realization of interest. The insurer may at any time replace any securities deposited by him under this section with the Reserve Bank of India either by cash or by other approved securities or partly by cash and partly by other approved securities, provided that such cash, or the value of such other approved securities estimated at the market rates prevailing at the time of replacement, or such cash together with such value, as the case may be, is not less than the value of the securities replaced estimated at the market rates prevailing when they were deposited.