Indian News

Govt meets general insurers to chart out NHPS roll-out

Health       Feb 22, 2018

  New Delhi: The Ministry of Health has met the general insurers and state owned GIC Re on Thursday in New Delhi to prepare the road- map for rolling out the National Health Protection Scheme(NHPS),  billed as world’ s largest health insurance scheme.   NHPS was announced...

Financial crime on the rise in India’s life insurance sector: EY report

Life-News       Feb 22, 2018

Mumbai: A report by the conulting firm Ernst & Young (E&Y), based on survey of insurance professionas, has said the rising transactions with third parties, data privacy concerns and gaps in operational processes have augmented financial crime risks in the life insurance sector,   EY Fraud...

Indian companies lost $500,000 to cyber attacks in 1.5 years: CISCO

Non Life-News       Feb 21, 2018

NEW DELHI: Cyber attacks in the country caused financial damages to the tune of about USD 500,000 to India companies in the last 12-18 months, says a study.    "...more than half of all attacks resulted in financial damages of more than USD 500,000, including, but...

EPFO cuts interest rate to 8.55% for 2017-18 from 8.65% for 2016-17

Pension       Feb 21, 2018

New Delhi: Retirement fund body EPFO today lowered the rate of interest on employees provident fund to 8.55 per cent for its over 6-crore subscribers for 2017-18, from 8.65 per cent in the previous fiscal.   "It is difficult to evaluate about future in view of...

Premium On Mega Healthcare Scheme To Be Rs. 900-1,000: NITI

Health       Feb 21, 2018

New Delhi: Government's premium on insurance cover of Rs. 5 lakh for every eligible household under the new National Health Protection Scheme (NHPS) would be around Rs. 900-1000 per family annually, lower than the earlier estimate of Rs. 1000-1,200, a senior NITI Aayog official said...

Workers demand Rs 15K minimum pension under EPS-95

Pension       Feb 20, 2018

New Delhi; The National Coordination Committee EPS 95 today demanded that the minimum monthly pension under the scheme, which is run by the retirement fund body EPFO, should be fixed at Rs 15,000. "We are demanding Rs 15,000 minimum monthly pension under the EPS-95(Employees' Pension...

ESIC draws plan to cover 10-cr formal sector workers by 2022

Health       Feb 20, 2018

New Delhi:  State health insurer Employees State Insurance Corporation (ESIC) has given its in-principal approval to cover 10-crore formal sector workers under its programme "Vision 2022" that envisages expansion of ESI scheme to every district of the country. The decision was taken at its 173rd...

Ravi Mittal,additional secretary, Ministry of Finance

Ministry seeks mergers of three PSU non-life insurers without much disruption

Non Life-News       Feb 16, 2018

New Delhi After finance minister Arun Jaitly made a Budgetary proposal for the merger of three state owned general insurers,   , finance ministry officials met the CMDs of these companies,_Oriental Insurance, National Insurance and United Insurance- in New Delhi on Friday.   GIPSA, the umbrella body...

Sujay Banarji,LIC's Kutumbe appointed as Members, IRDAI

Regulation       Feb 16, 2018

New Delhi: Government today has appointed two members at the insurance regulator IRDAI. Kutumbe Pravin Hari, 58,executive director , Life Insurance Corporation(LIC) has been appointed as  member (Finance & Investment) while Sujay Banarji,60,.former director, Oriental Insurance Company(OIC)  has been appointed as member (distribution).     Banarji retired...

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