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H Venkatachalam appointed as new MD & CEO of Tata AIA Life, Tahilyani to head Tata Digital
H Venkatachalam, MD & CEO designate , Tata AIA Life...
LIC launches a new unit linked plan
Siddhartha Mohanty, chairperson, Life Insurance Corporation...
Economy grows slowly in December quarter, with virus impact to come
Abheek Barua, chief economist, HDFC Bank, said,“The 4.7% growth is in line with economists’ expectations. However, with a likely impact of the coronavirus beginning to play out in the last quarter and expenditure compression by the government, last quarter GDP growth could disappoint. This could mean that GDP for the year could be lower than 5%.
Govt not to change farmers’ share of prm under Pradhan Mantri Fasal Bhima Yojana , official
Bhutani clarified that neither farmers” premium has been changed nor it will be withdrawn in the future
Sensex, Nifty fall for fifth day as pandemic fears unnerve investors
Most new virus cases are now being reported outside China – the origin of the outbreak – with South Korea, Italy and Iran emerging as new epicentres. U.S. officials on Wednesday warned Americans to prepare for more virus cases.
India’s GDP seen growing at 4.7% in December quarter, with virus impact to come
“Although number of cases of COVID-19 (coronavirus) in India are less, the economic impact is expected to accrue from supply chain risk,” Soumya Kanti Ghosh, chief economist at State Bank of India, citing problems in supply of raw materials from China for pharmaceuticals and other exports.
SAT rejects IRDA order, allows sale of pledged Reliance General insurance shares
Rejecting the IRDA’s Dec 27 order, the SAT in its order on Thursday has asked the IDBI Trusteeship Services, that is holding the pledged shares as a custodian, to make every endevour to find a suitable buyer for the pleged shares.
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“ As and when a suitable buyer is found suitable application would be made before IRDAI for appropriate approval to enable the IRDAI to carry out due diligence and to ascertain fulfillment of Fit and Proper criteria, financial soundness,’’ said the SAT order .
Sensex drops over 1100 pts as Coronavirus pandemic fears grow
On a net basis, foreign institutional investors sold equities worth Rs 3,336.60 crore, while domestic institutional investors bought shares worth Rs 2,785.67 crore on Wednesday, data available with stock exchanges showed.
PFRDA likely to add 10-12 new subscribers by fiscal-end: new Chairman
“By the end of the fiscal if you look at APY, there may be another close to 8-10 lakh additions and another 1-1.5 lakh for NPS. So all taken together, around 10-12 lakh new customers should join our fold by March-end,” Bandhopadhyay said.
Proposed IPO of LIC to benefit insurance industry: Fitch
“We think the insurer’s investment allocation decisions will be rationalised too, as major investment decisions could be subjected to additional scrutiny and approvals. LIC is one of the prominent institutional investors in several public sector assets, and in multiple instances has obtained exceptions from the insurance regulator to increase its stake in investee companies above the regulatory ownership cap of 15 per cent,” it said.
Govt revises rules for enhanced disclosures in auditor reports of companies
Among other requirements, a specific format has been prescribed for auditors to report the period and the amount of default by the company in repayment of loans or other borrowings or in the payment of interest thereon to any lender.
Mega bank merger on track, says Sitharaman amid worry over April 1 deadline
“We are also conscious of extra load on them [banks] in terms of the kind of demands that I put on them. I have asked them to reach out to 400 districts, I have asked them to reach out to MSMEs, restructure their loan. So there is a lot of core banking work, which they are undertaking. I must be conscious of that also. So the merger and the decision taken by respective banks boards are all well taken. We are going as per schedule on that. There is no uncertainty on that. I am on course. There need not be speculation,” she said after unveiling EASE 3.0, the Public Sector Bank (PSB) Reforms Agenda 2020-21 for smart, tech-enabled banking, and the PSB EASE Reforms Annual Report 2019-20.