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PSU gen insurers suffered huge losses of Rs 26,364 cr  between FY17 & FY21, flouted govt norms in their health insurance business: CAG

PSU gen insurers suffered huge losses of Rs 26,364 cr between FY17 & FY21, flouted govt norms in their health insurance business: CAG

by AIP Online Bureau | Aug 6, 2022 | Health, Indian News, Non-Life, Policy, Technology

CAG audit analysed TPA-wise allocation of business (annual premium) and TPA wise Incurred Claims Ratio (ICR) and found that all the four PSU insurers allocated major share of business (15 to 44 per cent) to one TPA (Medi Assist India TPA Pvt. Ltd.) despite high ICR of...
Shippers rerouted vessels as China began military drills around Taiwan

Shippers rerouted vessels as China began military drills around Taiwan

by AIP Online Bureau | Aug 5, 2022 | Eco/Invest/Demography, Intermediaries, International News, Non-Life, Reinsurance

The Taiwan Strait is a key route, with almost half of the global container fleet passing through the waterway this year. The disruption is just the latest inconvenience for supply chains, which have been reeling since the start of the pandemic and Russia’s invasion of...
PFRDA looks to offer guaranteed pension programme under NPS

PFRDA looks to offer guaranteed pension programme under NPS

by AIP Online Bureau | Aug 5, 2022 | Eco/Invest/Demography, Indian News, Pension & Social Security, Regulation

Supratim Bandyopadhyay,Chairperson,PFRDA ”The Minimum Assured Return Scheme is under development. Tentatively, we may start from September 30,” PFRDA Chairperson Supratim Bandyopadhyay told reporters here on Friday New Delhi: The Pension Fund Regulatory...
Airlines scrap, reroute flights as China fires live missiles in drills near Taiwan

Airlines scrap, reroute flights as China fires live missiles in drills near Taiwan

by AIP Online Bureau | Aug 5, 2022 | Eco/Invest/Demography, International News, Non-Life, Risk Management

The airspace involved is comparatively small, but the disruption from the largest military exercises by China in the area since it fired missiles off the coast in 1996 is hampering travel between Southeast Asia and Northeast Asia SEOUL: Airlines have cancelled flights...
RBI raises key lending rate by 50bps to 5.40 %, inflation forcast at 6.7%, growth projection at 7.2%

RBI raises key lending rate by 50bps to 5.40 %, inflation forcast at 6.7%, growth projection at 7.2%

by AIP Online Bureau | Aug 5, 2022 | Eco/Invest/Demography, Indian News, Wealth Management/ Philanthropy

Shaktikanta Das,Governor,Reserve Bank of india This is the third consecutive rate hike after a 40 basis points in May and 50 basis points increase in June. In all, the RBI has raised benchmark rate by 1.40 per cent since May this year “With growth momentum...
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