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IRDAI: Sinha joins as member,Finance, Nithiyanantham promoted as ED
Sinha is now expected to play a key role in processing applications...
Centre to boost EV Infra, new bio-manufacturing scheme in the offing: FM
Finance Minister Nirmala Sitharaman said through rooftop...
Coronavirus impact: Surat diamond hub stares at Rs 8,000 crore loss
Surat: The Surat diamond industry is likely to face a loss of around Rs 8,000 crore in next two months as Hong Kong, which is a major export destination, has declared a state of emergency due to the coronavirus outbreak in China, say experts. Hong Kong...
Cabinet okays changes to bank laws to avoid repeat of PMC Bank-like crises
There are 1,540 cooperative banks with depositor base of 86 million having total savings of about Rs 5 trillion.
Released Rs 3,520 cr in last two years to states under AB-PMJAY:Health Minister
“Two big states (Punjab & Rajasthan) have joined AB-PMJAY only in late 2019. Large states (UP, MP and Bihar) which account for 30 per cent of the beneficiary population are implementing the scheme for the first time and hence, their demand is still picking up,” he said, explaining the reasons for the slow utilization of funds.
Few states debar 4 insurers from PMFBY due to complaints: Govt
The Centre on Tuesday told Parliament that some state governments like Rajasthan, Karnataka and Gujarat have debarred four insurance firms — SBI General Insurance, Tata AIG, Shriram General Insurance and UIIC — from participating in tender of the Pradhan Mantri Fasal Bhima Yojana (PMFBY) for one or more seasons. Some state governments have also slapped interest penalty on the Agriculture Insurance Company of India (AIC Ltd),Cholamandalam-MS General Insurance Company, ICICI-Lombard General Insurance Company, New India Assurance Company and SBI General Insurance Company, it said in the Lok Sabha.
3 PSU general insurers to get merged by March-end: Finance Secretary
“Merger of PSU general insurers is at an advanced stage. We can see that happening quite soon. It is already before the Cabinet,” Kumar told PTI in an interview.
Nearly 6,900 cases of online banking frauds registered in 2017-18: Govt
To prevent online frauds and protect users, the Ministry of Home Affairs has taken several steps, including formation of an Inter-Ministerial Committee on Phone Fraud (IMCPF). It has members of stakeholder organisations such as the Ministry of Electronics and Information Technology (MeitY), Department of Financial Services, Department of Telecommunication, Reserve Bank of India and law enforcement agencies.
India’s January gold imports plunge 48% to four-month low: Government source
The world’s second-biggest buyer of gold imported 36.26 tonnes in January, compared with 69.51 tonnes a year earlier, the source said on condition of anonymity, as he was not authorised to speak to media.
Bank frauds declining sharply annually: Govt
Frauds rose slightly to Rs 18,893 crore in 2018-19 but started declining again to Rs 5,244 crore in the first three quarters of 2019-20 fiscal, he said during Question Hour.
IRDA sets up panel to explore allowing exclusive micro-insurance cos
The indicative regulatory aspects are: Capital and Solvency,Underwriting, Product and Claims,Finance and Accounting, Investments, Operations, Corporate Governance
LIC disinvestment: 100,000 employees stage walk-out across country
“Being one of the biggest financial institutions of the country, any move to privatise LIC will shake the confidence of the common man and will be an affront to our financial sovereignty. The very purpose of LIC to provide insurance coverage to socially and economically backward class at a reasonable cost will be defeated and motto will change from service to profit,” the statement said.