Indian News

U.S. and India commit to building six nuclear power plants

Eco/Invest/Demography, Non-Life       Mar 14, 2019

WASHINGTON: The United States and India on Wednesday agreed to strengthen security and civil nuclear cooperation, including building six U.S. nuclear power plants in India, the two countries said in a joint statement. The agreement came after two days of talks in Washington. The United...

India must address digital payments security issues: Nandan Nilekani

  New Delhi: India is still very far away from being a less-cash economy and security issues around digital payments system needed to be addressed to make the mode more acceptable, Nandan Nilekani said Wednesday. Nikelani -- who is the chairman of RBI Committee on Digital...

MR Kumar, newly appointed Chairman of LIC

MR Kumar appointed LIC chairman, Susheel K and Vipin A as MDs

Life       Mar 13, 2019

  New Delhi: The centre has finally appointed MR Kumar, 57, Zonal Manager(ZM), Delhi, as  the chairman of the Life Insurance Corporation.   In a late evening announcement, the Department of Personnel and Training( DOPT), along with Kumar's name as chairman, has also notified the appointment of...

Binny Bansal, co-founder of Flipkart

Binny Bansal and others invest $ 65 mn in Acko general insurance

Non-Life, Technology       Mar 13, 2019

  Bengaluru: Tech based general insurer Acko has raised $65 million in its Series C financing round, from Binny Bansal, co-founder of Flipkart; RPS Ventures, led by KabirMisra, ex-managing partner at Softbank; and Intact Ventures Inc. – corporate venture arm of Canada’s largest property & casualty...

Boeing 737 Max grounding: Aviation ministry calls meeting at 4pm with airlines for contingency plan

Non-Life, Risk Management       Mar 13, 2019

  New DelhI: The Civil Aviation Ministry will hold a meeting with airlines at 4 pm on Wednesday to prepare a contingency plan as a number of flights have been cancelled following the grounding of Boeing 737 Max 8 aircraft, a senior government official said.  On...

Alex Moczarski, Chairman of Marsh & McLennan Companies International

MARSH increases stake in MARSH India to  49%

Intermediaries       Mar 12, 2019

  Mumbai: Marsh, a global leader in insurance broking and innovative risk management solutions and a wholly-owned subsidiary of Marsh & McLennan Companies, today announced that it has increased its shareholding in Marsh India from 26% to 49%, the maximum permitted under laws governing foreign direct...

S C Khuntia, Chairman, IRDAI

Standardisation of rates and procedures of healthcare providers necessary:Khuntia

Health, Non-Life       Mar 11, 2019

S C Khuntia, Chairman, IRDAI NEW DELHI: Subhash Chandra Khuntia, Chairman, IRDAI,today urged health insurance companies and healthcare providers to upgrade their standards and adopt ethical practices to provide access, equity and quality services to the people on a sustainable basis.   Speaking at the 11th...

Bharti AXA Life Insurance hires 10,000 insurance advisors and sets up 50 new branches across India

Intermediaries, Life       Mar 11, 2019

Mumbai: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, and AXA, today announced that the company has hired 10,000 insurance advisors and set up 50 new branches across India in the current financial year.   The aggressive expansion drive is part of the company’s...

IRDAI seeks proposal from LIC on stake reduction in IDBI Bank

Banking & Bancassurance, Life, Regulation       Mar 11, 2019

New Delhi:: Insurance Regulatory and Development Authority of India (IRDAI) stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks.  ...