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Budget 2023-24: Health sector allocation sees 13 pc hike, mission to eliminate sickle cell anaemia announced

by AIP Online Bureau | Feb 2, 2023 | Eco/Invest/Demography, Health, Indian News, Non-Life, Policy

Among these central sector schemes, the budget allocation for the National Health Mission has been increased from Rs 28,974.29 crore in 2022-23 to Rs 29,085.26 crore in 2023-24, and for Pradhan Mantri Jan Arogya Yojna (PM-JAY), it has been hiked from Rs 6,412 crore to...
Car sales kick-start year 2023 with top gear

Car sales kick-start year 2023 with top gear

by AIP Online Bureau | Feb 1, 2023 | Eco/Invest/Demography, Indian News, Non-Life

Total domestic passenger vehicle sales were at 1,55,142 units as compared to 1,36,442 units in the corresponding period previous year, a growth of 14 per cent, it added. New Delhi: Car sales in 2023 got off to a good start with auto majors such as Maruti Suzuki, Tata...

IRDAI retains reinsurance `Obligatory Cession’ at 4% for general insurers in FY2023-24

by AIP Online Bureau | Feb 1, 2023 | Indian News, Non-Life, Policy, Regulation, Reinsurance

The government has notified move on Tuesday saying that the entire Obligatory Cession is to be placed with General Insurance Corporation of India (GIC Re) only. Mumbai/New Delhi: Disappointing the private sector general insurers and foreign reinsurers which are having...
Budget-2023-24: Life insurance policies with over Rs 5 lakh aggregate premium no more tax exempt, life insurers’ shares tank

Budget-2023-24: Life insurance policies with over Rs 5 lakh aggregate premium no more tax exempt, life insurers’ shares tank

by AIP Online Bureau | Feb 1, 2023 | Eco/Invest/Demography, Indian News

Some budgetary announcements is negative for life insurance companies– as it will impact savings products which are usually high value and margin products (though not protection). However, smaller policies remain unaffected. Overall a negative for life insurance...

Credit Suisse’s private bank stops margin loans on Adani Group’s bonds

by AIP Online Bureau | Feb 1, 2023 | Eco/Invest/Demography, Indian News

The Swiss lender’s private banking arm has assigned a zero lending value for notes sold by Adani Ports and Special Economic Zone, Adani Green Energy and Adani Electricity Mumbai Ltd., according to people familiar with the matter, who asked not to be identified...
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