Indian News

States allowed to set up crop insurance firms to execute PMFBY

Non Life-News       Apr 02, 2018

  New Delhi:  The Centre has allowed states to set up their own insurance companies for implementing Pradhan Mantri Fasal Bima Yojana (PMFBY), a senior Agriculture Ministry official said today. The move comes after several requests from states as well as observations made by Comptroller and...

Motor Third Party:SC asks IRDA to offer 3 yr cvr for cars

Non Life-News       Apr 02, 2018

  New Delhi: In a bid to tighten the compliance of  mandatory third party insurance of vehicles, which puts all road users at risk, the Supreme Court Committee on Road Safety has asked the insurance regulator IRDAI to offer mandatory third party three year insurance policy...

MN Sarma, CMD, United India Insurance

General Insurance industry likely to hit Rs1.5 trn prm kitty in 2017-18

Non Life-News       Apr 01, 2018

  Mumbai: In a cheerful development, the Indian general insurance industry, with 33 players, is likely to strike a spectacular figure of Rs 1.5 trillion in premium income during 2017-18.   By Feb 2018, with a growth of 18 per cent, the premium accumulation in the industry...

G Srinivasan, CMD, New India Assurance

New India Assurance achieves Rs 26,000 cr of global prms, up 17 pc in 2017-18

Non Life-News       Mar 31, 2018

  Mumbai: New India Assurance (NIA), the largest general insurer in the country, has achieved a total global premium of Rs 26,000 crore, up 17 per cent during fy 2017-18.   The general insurance multinational, having operations in 28 countries, had set a target of Rs 26,000...

Here're the key tax changes that will come into effect from April 1, 2018

Policy       Mar 31, 2018

New Delhi: Several budget proposals including the reintroduction of the tax on long-term capital gains(LTCG) exceeding Rs 100,000 from the sale of shares will kick in from April 1, the beginning of the 2018-19 financial year.   Besides, other tax proposals like reduced corporate tax of...

IRDAI reduces TP motor premium for bikes, cars and taxis from Apr 1

Regulation       Mar 29, 2018

Mumbai: For the first time, the insurance regulator IRDAI on Thursday has reduced third party motor premium rates on average between 10 per cent and 20 per cent for bikes, cars and taxis, effective April 1.   IRDA,  which had deregulated the pricing of the entire...

Govt notifies new accounting standard, effective April 1

Policy       Mar 29, 2018

  New Delhi: Companies will have to adopt more detailed revenue recognition ways from April 1 as the government has notified a new accounting standard.   The Corporate Affairs Ministry has notified Indian Accounting Standard (Ind AS) 115 which would be effective from the new financial year,...

As Sensex rises 11%, investors' wealth swells nearly Rs 21 trn in FY18

Wealth Management       Mar 29, 2018

Mumbai: Investors' wealth surged Rs 20.70 trillion during 2017-18 fiscal helped by robust broader market sentiment where the BSE benchmark index rose by over 11 per cent.   The 30-share Sensex soared 3,348.18 points, or 11.30 per cent, to 32,968.68 during 2017-18. The flagship index touched...

No proposal to replace National Pension System: Govt

Pension       Mar 28, 2018

New Delhi: There is no proposal to replace the National Pension System (NPS) with the old pension scheme, the Lok Sabha was informed today. The NPS gives the utmost importance to the welfare of subscribers, Minister of State for Personnel Jitendra Singh said in a...