Indian News

Suresh Prabhu woos Australian pension funds

Pension       Sep 18, 2018

  New Delhi: Commerce and Industry Minister Suresh Prabhu Tuesday sold the India growth story to Australian Superfunds to attract the rich superannuation funds, valued at a whopping 2.6 trillion Australian dollars, to the Indian markets.   The minister during his meeting with a five-member delegation of...

Reliance General Insurance IPO in FY19

Non Life-News       Sep 18, 2018

  Mumbai: Reliance Capital chairman Anil Ambani said said the company is looking to list its general insurance company, Reliance General Insurance, in the current financial year.   He was addressing the annual general meeting of Reliance Capital on Tuesday.   The company's executive director, Anmol Ambani, said...

BoB, Vijaya Bank, Dena Bank merger: New entity to be operational from April 1

Bancassurance, Economy       Sep 18, 2018

  New Delhi: The new entity to be formed with the merger of Bank of Baroda, Vijaya Bank and Dena Bank will be operational in the beginning of the next financial year, sources said.   These three state-run banks would work on strict timeline and necessary regulatory...

Supreme Court takes note of 3,597 deaths due to pothole-related accidents in 2017

Economy, Non Life-News       Sep 18, 2018

NEW DELHI: Taking note of almost 3,600 deaths reported in 2017 alone due to potholes on roads across the country, the Supreme Court today said it was "unfortunate" that some states were disputing the data published by the Centre on such accidental deaths.   A bench...

Vijaya Bank, Dena Bank, BoB to merge: Govt

Bancassurance, Economy       Sep 17, 2018

NEW DELHI: The government Monday said state-owned Bank of Baroda, Vijaya Bank and Dena Bank will be merged to create the country’s third largest lender as part of efforts to revive credit and economic growth.   Earler, the government had announced the mergers of three public...

Indiabulls applies for a license to float a life insurance co

Life-News       Sep 17, 2018

  Mumbai: A move that may end the drought of new players in the sector, the Indian life insurance sector will soon see an entry of a new venture as the Indiabulls group,owning the second largest private sector housing finance company in the country, is once...

Govt deactivating identification numbers of 2.1 mn directors over KYC norms

Risk Management       Sep 16, 2018

  New Delhi: The government has started the process of de-activating the identification numbers of nearly 2.1 million directors of companies as they failed to comply with KYC norms, according to a senior official.   The Director Identification Numbers (DINs) -- a unique number allotted to individuals...

Modified Jan Dhan: No of accounts swell to 326.1 mn; Rs 12.66 bn increased

Economy, Non Life-News, Policy       Sep 16, 2018

  New Delhi: As many as 2 million people have joined the modified Pradhan Mantri Jan Dhan Yojna (PMJDY), taking the total number of account holders in the flagship financial inclusion programme to 326.1 million as on September 5, according to finance ministry data.   Earlier, the...

Hospitals can’t detain patients, bodies over payment disputes: draft Patient Charter

Health, Non Life-News       Sep 16, 2018

  New Delhi: Not discharging a patient or declining to hand over a body to relatives by hospitals over payment disputes may soon become an offence if a charter on patients’ rights released by the Union Health Ministry comes into force.   According to the draft of...