Policy
Significant beneficial owners in companies to face strict action for wrong disclosures
New Delhi: Significant beneficial owners in Indian corporates might face strict action for inadequate or wrong disclosures about their ownership and companies too can seek action against entities in case they fail to provide satisfactory responses, according to rules. With the corporate affairs ministry amending...
Merger of 3 PSU general insurers to be complete by FY'20
New DelhI: The government expects to complete the merger of three state-owned general insurance companies by 2019-20. The merger of National Insurance Company, United India Insurance Company and Oriental India Insurance Company was first announced in the Budget 2018-19 and the government intended to complete...
Hemant Contractor,chairman, PFRDA
Goyal's new pension scheme pose risk for the Atal Pension Yojana
Mumbai: The Budgetary announcement by the interim finance minister Piyush Goyal, about a new pension scheme, Pradhan Mantri Shram Yogi Mandhan, for the unorganised sector workers,has put a big question mark on the continuity and growth of government's existing flagship pension scheme, Atal Pension Yojana,...
GST Council cuts 3rd party motor insurance rates to12% from 18%
New Delhi: In a relief to the common man, the GST Council headed bu financeminister Arin Jaitley Saturday cut rates on 23 commonly used goods and services, including , third part motor ionsurance ,TV screens, movie tickets and power banks. The new tax rates will...
Govt plans Rs 12,000-levy on petrol, diesel cars to spur EV demand: Report
New Delhi: The Indian government has drafted a plan to levy a fee of Rs 12,000 ($171.09) on new petrol and diesel cars in an attempt to boost the manufacturing of electric vehicles (EV) and battery-driven automobiles, the Times of India reported on Wednesday. Under...
Cabinet moves to get legal backing, allow Aadhaar for phone numbers, banks
New Delhi: The Cabinet on Monday approved amending two laws to get legal backing for seeding Aadhaar information with mobile numbers and bank accounts, sources said. The Cabinet approved amendments to the Telegraph Act and the Prevention of Money Laundering Act (PMLA) after a Supreme...
Madras High Court bans online sales of medicines
Chennai: The Madras High Court on Monday banned the sale of medicines online till the central government notifies the regulations. The development comes just three days after the Delhi high court stayed the sale of drugs and prescribed medicines by online pharmacies. The court set...
Govt forms panel under BBB to select MD for PSU insurance firms
NEW DELHI: After spilitting the post of chairman and managing director in the public sector banking industry,the government now may be intending to institute similar arrangements for the public sector insurance sector. For the first time,the government has constituted a seven-member panel to select managing...
Citizens may soon be able to opt-out of Aadhaar as govt looks to amend the Act
New Delhi: The government is likely to include an opt-out clause in the Aadhaar Act,allowing citizens to opt-out of Aadhaar and withdraw their biometrics data. According to a media report the Aadhaar issuing body, Unique Identification Authority of India (UIDAI), has proposed the inclusion of...
Govt not to participate in LIC's open offer in IDBI Bank
New Delhi: Govt not to participate in LIC's open offer in IDBI Bankn Tuesday said government will not participate in LIC's open offer to acquire 51 percent stake in the bank. LIC's open offer to purchase 26 percent shares of IDBI Bank opened on December...
