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IRDAI asks insurers to cover AYUSH treatment in health policies
With a board-approved policy guidelines for AYUSH coverage and the...
Governance, Development, Performance is govt’s ‘GDP’ mantra for growth: Sitharaman
Union Finance Minister Nirmala Sitharaman The country's development...
Sitharaman favours once a year changes in GST rates
“I think we have laid the foundation for increasing consumption, ensuring that capex (capital expenditure) and government’s investments will go towards spending on building of assets in infrastructure which should have cascading effects both in the short term and in the long term,” Sitharaman told reporters.
Domestic passenger vehicle sales down 6.2% in Jan; car sales slide 8%: SIAM
Car sales last month were also down 8.1 per cent at 1,64,793 units as against 1,79,324 units in the January last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM).Motorcycle sales last month declined by 15.17 per cent to 8,71,886 units from 10,27,766 units a year earlier,
New India Assurance bounces back to profitability, net profit at Rs 483 cr in Q3Fy 2019-20
“The company has reported encouraging results for the quarter despite a challenging macro environment. While the reporting quarter did not witness any major Cat losses, the crop segment was adversely affected due to unseasonal rains across the country,” said Atul Sahai, chairman cum managing director, NIA. .
IPO bound LIC to start valuation exercise soon, assets increases by 8% to Rs 32,25,905 cr till Jan end
On the proposed initial public offer (IPO) , MR Kumar said that, there are lot of figures floating around the market capitalization and size of IPO. “We have not done the maths. Unless we do our internal discussion and maths, I dont think we would be able to answer that today. Valuations has to be reasonably, scientifically and lot of work has to be done,”he said.
IRDAI to expand its regulatory Sandbox project soon:Khuntia
“ We in Irdai have already allowed a regulatory sandbox regime because we do not know whether the (existing) regulations will be adequate for the new processes that these technologies will need.This is an experiment we we’ll allow for six months and up to one year.If we find that these are old processes which will help transactions and make life easier for the insurer as well as the insured without compromising on the policy holders protection, we will think of tweaking the regulations to make it happen.”
FinMin expects at least 80% of taxpayers to move to new tax regime
Revenue Secretary Ajay Bhushan Pandey said the government did an analysis of 57.8 million taxpayers before the budget and found that 69 per cent of them would save on tax payouts under the new system, while 11 per cent were found to be favouring the old regime.
Max Life’s net profit at Rs 154 cr, up 92 % in Q3 FY2020
in an insurtech push, Max Life Insurance has announced the selection of seven start-ups to engage with ‘Max Life Innovation Labs’, the Company’s flagship ‘InsurTech’ accelerator programme.
RBI holds rates steady, raise deposit insurance rate marginally
The RBI has also decided to increase the insurance cost of bank deposits as the cover will be increased to Rs 5 lakh from Rs 1 lakh which was earlier announced by finance minister Nirmala Sitaraman in Budget 2020. The cost will be increased by 2 paise from 10 paise to 12 paise for a deposit of Rs 100 which wouldn’t increase the costs of the bank
Merger process major challenge for PSBs in near future: SBI Chairman
“One of the challenges before public sector banks in the near future is the merger of the bank…IT merger needs to be handled very carefully,” Kumar said at an event organised by Indian Banks’ Association.
Aim to manufacture, sell 1 mn ‘green vehicles’ over next few years: Maruti
The next million green vehicles from company will include a range of technologies and power trains such as CNGs, smart hybrids, strong hybrids and electric vehicles, he added.