Indian News

India-born Canadian billionaire Prem Watsa 

IRDA rejects Prem Watsa’s deal to acquire Sudhir Valia’s ITI Reinsurance 

Regulation, Reinsurance       Nov 29, 2018

  Hyderabad: The insurance regulator IRDAI has rejected the deal between Prem Watsa, India-born Canadian billionaire and Sudhir Valia, an associate of Sun Pharma’s Dilip Shanghvi, where the former was acquiring the whole of latter’s two-year old ITI Reinsurance.   The deal between the two were signed...

Over 300,000 people have benefited from Ayushman Bharat so far: Jaitley

Health       Nov 28, 2018

  New Delhi: Finance Minister Arun Jaitley said Tuesday as many as 300,000 poor people have benefited from Ayushman Bharat health scheme in the last one-and-a-half months.   Speaking at the function to release the book 'Making of New India: Transformation under Modi Government', Jaitley said that...

Competition Comm approves LIC's majority stake buy in IDBI Bank

Policy       Nov 28, 2018

  NewDelhI: The Competition Commission has cleared LIC's proposed acquisition of up to 51 percent stake in debt-laden IDBI Bank.   The deal would help the insurance behemoth to enter the banking space and would provide business synergies despite the IDBI Bank's stressed balance sheet.   In a...

`Sagarmala' identifies over 600 projects with Rs 8 lakh crore investment by 2020

Eco/Invest/Demography       Nov 27, 2018

New Delhi:  Nitin Gadkari, Union Minister for Shipping, Road Transport & Highways, Water Resources, River Development  said that blue economy is very crucial for India’s economic development.   Gadkari  will be attending  the Sustainable Blue Economy Conference, organized by Kenya, with Canada and Japan as co-hosts....

SEBI lays guidelines for alternative investment funds in IFSC

Eco/Invest/Demography       Nov 26, 2018

  Mumbai: Markets regulator issued detailed guidelines for setting up of alternative investment funds in international financial services centres, pertaining to registration, compliance requirements and restrictions.   For registration as Alternative Investment Funds (AIFs), SEBI said any fund established or incorporated under IFSC in the form of...

Indian automotive aftermarket may touch Rs 75,000 cr by 2020: Report

Eco/Invest/Demography, Non-Life       Nov 26, 2018

  New Delhi: The domestic automotive aftermarket, which has grown at a compounded annual growth rate (CAGR) of 14 percent in the last five years, is expected to touch Rs 75,000 crore by 2020, a report said Monday.   The country's car market also has the potential...

Kejriwal announces old pension scheme will be restored in Delhi

Pension       Nov 26, 2018

  New Delhi: Delhi Chief Minister Arvind Kejriwal announced on November 26 that the old pension scheme will be restored by his government and he will write to his counterparts in other states to follow suit.   He said a resolution to restore the old pension scheme...

3 consultants in final race to bag PSU gen insurers merger deal

      Nov 24, 2018

  Mumbai: Three consultants, Boston Consulting Group(bcg), Ernst & Young(E^Y) and Oliver Wyman, a part of the Marsh & Mclenan Group,are in the final race to bag the deal for preparing strategies facilitating the proposed merger of three state owned general  insurers-National Insurance Company(NIC), Oriental Insurance...

IMD develops technology to assess rise of water level in rivers, reservoirs by rain

Technology       Nov 23, 2018

  NEW DELHI: A new technology has been developed to assess the rise of water level in rivers and reservoirs by rain and can help state governments to minutely monitor the impact of rainfall, IMD chief K J Ramesh said, in the aftermath of the deadliest...