SBI Life bags ICAI awards for excellence in financial reporting

SBI Life Insurance, a leading private life insurer, has received an award by the Institute of Chartered Accountants of India for excellence in financial reporting. To promote better standards in the preparation and presentation of information in the financial statements, the Institute of Chartered Accountants of India has been recognizing and felicitating organizations with "ICAI Awards for Excellence in Financial Reporting'.

SBI Life's Financial Statements for FY 2010 - 11 have been awarded Silver Shield under the Insurance Category by Institute of Chartered Accountants (ICAI) Mr. M. N. Rao, MD & CEO, SBI Life & Mr. Sangramjit Sarangi, Head of Finance, SBI Life receiving the award from Dr. M. Veerappa Moily, Union Minister for Corporate Affairs, Government of India in the presence of CA. K. Rahman Khan Honourable Deputy Chairman Rajya Sabha, CA. G. Ramaswamy President, ICAI & Conference Chairman.

3 companies/entities have been awarded the ICAI Awards for Excellence in Financial Reporting for the year 2010-11 and have been selected by the panel of judges who review accounting practices adopted in the preparation of financial statements and the policies adopted for disclosure and presentation of financial statements and other information in an annual report.