Indian News

Govt may target disinvestment in the merged PSU insurer in 2019-20

Eco/Invest/Demography, Non-Life       Jan 22, 2019

:  New Delhi: The Indian government is likely to seek to raise about 800 billion rupees ($11.21 billion) through the sale of state-owned assets in the next fiscal year, beginning April 1, two government sources with direct knowledge of budget discussions told Reuters on Tuesday.The...

HDFC Life net at Rs 913 cr, up 20 %, in Apr-Dec

Life       Jan 22, 2019

  Mumbai: The net profit of  HDFC Life at Rs 913 crore, up 20 per cent, in the nine months ended in Dec 2018.   The net profit was Rs 762 crore in the corresponding period of 2017-18.   Total Premium of the life insurer had gone up...

Mathur Panel favours health insurance claim payments in installments

Life, Non-Life, Regulation       Jan 21, 2019

  Hyderabad: A Working Group,  constituted by the IRDAI, under Suresh Mathur, executive director, IRDAI,has recommended that the general and health insurance companies may be allowed to offer the option of payment of claims in installments or in lump-sum upon happening of a contingent event in...

LIC completes acquisition of 51% stake in IDBI Bank

Banking & Bancassurance, Life       Jan 21, 2019

  Mumbai: IDBI Bank Monday said insurance behemoth LIC has completed acquisition of 51 per cent controlling stake in the bank, making it the lender's majority shareholder.   "The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with...

India’s richest 1% get richer by 39% in 2018; just 3% rise for bottom-half: Oxfam

Eco/Invest/Demography, Wealth Management       Jan 21, 2019

  Davos:  India's richest 1% get richer by 39 percent in 2018, just 3 percent rise for bottom-half: Oxfam   At Davos, Oxfam said this increasing inequality is undermining the fight against poverty, damaging economies and fuelling public anger across the globe   Indian billionaires saw their fortunes...

MoF shortlists four names for LIC chairmanship

Life       Jan 19, 2019

  New Delhi: The Ministry of Finance(MoF) has shortlisted names of four senior officials of Life Insurance Corporation(LIC), for the selection of a chairman of the corporation   The  senior officials of the LIC, who have been shortlisted are- M R Kumar Zonal Manager(ZM), Delhi, Vipin Anand...

SBI Life's net profit rises 15% to Rs264 cr in Q3 FY2018-19

Life       Jan 18, 2019

  Mumbai: SBI Life Insurance at Rs 264.28 crore, posted a 14.7 percent year-on-year (YoY) rise in its net profit during third quarter ended in December 2018. The insurer had posted profit after tax of Rs 230.28 crore in the same quarter previous fiscal.   The new...

ICICI General's net profit remains flat at Rs 239 cr in Q3FY 2018-19

Non-Life       Jan 18, 2019

  Mumbai: With higher expenses, ICICI Lombard General Insurance, the country's largest private sector general insurance company, at  Rs 239 crore, has posted a growth of 3.2 per cent in its net profit during the third quarter ending in Dec 2018 as compared to Rs 232...

Delhi a 'gas chamber', better not to live in city, says SC about pollution

Health, Risk Management       Jan 18, 2019

  New Delhi: Delhi is a "gas chamber" where it’s difficult to live because of pollution and traffic congestion, said the Supreme Court on Friday, pulling up authorities for failing to improve air quality.   "In the morning and evening, there is so much pollution and traffic...

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