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100% FDI: Indian Govt issues norms to ease compliance for foreign investment in insurance
The proposed changes to the Amended 2015 Rules make it clear that...
Govt considers nuclear liability fund in excess of Rs15 billion for major accidents
The planned fund would provide a clear legal mechanism to finance...
US imposes sanctions on Russia’s leading tanker group Sovcomflot – Treasury Dept website
The Treasury Department also sanctioned 14 crude oil tankers identified as being linked to the company, Treasury said in a statement. The company had already been sanctioned by Australia, Canada, New Zealand and the UK, and faced European Union restrictions. The US...
Zurich Insurance to buy 70% stake in Kotak General insurance upfront in amended deal
Under the original deal, announced in November last year, Zurich was to buy a 51% stake in the Kotak unit for Rs 40.51 billion and an additional 19% holding within three years of the first purchase Bengaluru/Mumbai: Zurich Insurance Group will buy a 70% stake in Kotak...
Indian Fintech: Fast, Furious — and Fraudulent?
Media reports suggest that more non-bank intermediaries after Paytm Payments Bank may expect a rap on the knuckles. Just what has made the Reserve Bank of India so cranky all of a sudden? Andy MukherjeeFirst, Paytm was asked to freeze its banking business, a crackdown...
Slumping EV prices force carmakers to repay leasing firms
Leasing companies are demanding concessions from EV makers, including agreements that manufacturers will buy back vehicles, to protect against further erosion in the $1.2 trillion second-hand car market Carmakers have begun compensating leasing companies for the...
Number of stocks with over $1 bn M-cap nearly doubled to 500 since 2019
"The Indian equity markets are the only ones across the major emerging market (EM) economies which have consistently given more than 10 per cent annualised returns over the last 5-year/10-year/15-year/20-year periods. New Delhi: The market depth in India has increased...
Centre issues stern warning against surrogate ads seen as harming consumers
“We are committed to working collaboratively with all stakeholders as we navigate through this evolving issue. The Department of Consumer Affairs reaffirmed its stance with utmost clarity that any continued involvement in surrogate advertising will not be condoned. It...
‘Money mule’ bank accounts on the rise in India: Report
Mule accounts are owned by people who are duped by fraudsters into laundering stolen/illegal money via their bank accounts. When such incidents are reported, the "money mule" becomes the target of investigations due to their involvement New Delhi: Banks in India need...
Cabinet approves continuation of Flood Management and Border Areas Programme
Under the Flood Management Programme (FMP) component of Flood Management and Border Areas Programme with an outlay of Rs. 2940 crore, central assistance will be provided to state governments for taking up critical works related to flood control, anti-erosion, drainage...
FSDC to formulate strategy to digitalise KYC process in financial sector, curbing illegal online lending
(Lto R) Shaktikanta Das, Governor, Reserve Bank of India, Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs and Bhagwat K Karad,,Union Minister of State for Finance at the 28th meeting of FSDC in New Delhi The FSDC on Wednesday discussed various...
Salaries in India to increase 9.5 pc in 2024: Aon survey
India continues to roll out the highest salary increases amongst the major economies amidst geopolitical tensions, followed by Bangladesh, and Indonesia with 7.3 per cent and 6.5 per cent average salary increases in 2024 New Delhi: Salaries in India are expected to...