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Govt collects Rs 27k cr in taxes from sr citizens on interest earned from fixed deposits: SBI report
SBI researchers estimated that at least 7.3 crore of these accounts...
GeM portal marks over ten fold growth in two year, Rs 80K crore saved so far
With over 12,070 product categories and 320+ service categories,...
IRDAI unveils draft norms on shareholders’ compensation post M & A of insurers
The Insurance Act, 1938 has laid down that every policyholder or shareholder or member of each of the insurers, before amalgamation, will have the same interest in, or rights against the insurer resulting from amalgamation as he had in the company of which he was originally a policyholder or shareholder or member
European Development Finance group to exit fossil fuel investments by 2030
The move comes a week before the world’s 450 DFIs meet for the first time at a major conference in France to discuss accelerating their efforts to help in the fight against climate change as well as to boost sustainable development more broadly.
A key factor will be how open lenders in coal-reliant Asia are to any toughening of policy.
India sees early vaccine launch as AstraZeneca deliveries run late
An Indian government-backed vaccine could be launched as early as February – months earlier than expected – as last-stage trials begin this month and studies have so far showed it is safe and effective, a senior government scientist told Reuters.
Bharat Biotech, a private company that is developing COVAXIN with the government-run Indian Council of Medical Research (ICMR), had earlier hoped to launch it only in the second quarter of next year.
Modi woos global investors as economy shows signs of recovery
“If you want returns with reliability, India is the place to be,” Modi told a virtual conference of 20 major global investors, including sovereign wealth funds and pension fund heads from the US, Europe, Japan and Australia.
WhatsApp gets approval to launch payments feature in India
“Now you can send money to your friends and family through WhatsApp as easily as sending a message. There’s no fee, and it’s supported by more than 140 banks. And because it’s WhatsApp, it’s secure and private too,” said Facebook CEO Mark Zuckerberg .
“WhatsApp can expand its Unified Payments Interface (UPI) user base in a graded manner starting with a maximum registered user base of 20 million,” the National Payments Corporation of India (NPCI) said in a statement.
Online transactions, lending and e-wallet services have been growing rapidly in India, led by a government push to make the country’s cash-loving merchants and consumers adopt digital payments.
Infosys receives RIMS global ERM Award of Distinction
“We operate in a fast-evolving world, where we and our stakeholders find ourselves in the midst of disruption.Success in times like these require us to take calculated risks so we can move forward in a differentiated and progressive manner. Our enterprise risk management program has evolved to become a strong framework to manage potential threats to our objectives in a proactive manner, and enhance our performance,” said U B Pravin, Member of Board & Chief Operating Officer, Infosys Limited
India’s COVID-19 caseload mounts to 83.64 lakh with 50,210 new cases
The COVID-19 case fatality rate was recorded at 1.49 per cent.
There are 5,27,962 active cases of coronavirus infection in the country which comprises 6.31 per cent of the total caseload, the data stated.
Sebi asks financial sector organisations to ensure compliance with CERT-In advisory
Among others, they were also advised to ensure complete protection and seamless control over their critical system by continuous monitoring through direct control and supervision protocol mechanisms while keeping such data within the legal boundary of India.
UK regulator, insurers, set for November 16 court battle over COVID-19 case
The FCA, six insurers and an action group are appealing a lower court judgment that sought to clarify whether 21 policy wordings, affecting potentially 700 types of policies, 60 insurers, 370,000 policyholders and billions in claims, cover disruption and government-ordered closures to curb the virus.
Although expedited, the appeal has delayed payouts on disputed claims just as thousands of struggling businesses face a second national lockdown this week to curb resurgent coronavirus cases.
Technology can make India’s crop insurance scheme profitable:Report
Contributing to the report, the Agricultural Insurance Company of India commented: “With the advent of new concepts in agriculture, the scope for crop / agriculture insurance in India is vast. The main challenge is consistency. The scheme has changed drastically in a very short space of time. Reinsurers believe there is ample opportunity but only if they decide to commit to this product for the longer term and take a long-term view despite the changes.”