Finance Minister Nirmala Sitharaman Nearly 50 per cent of the...
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Sunil Sharma takes over as CEO of RGA’s India operations
Sunil Sharma,CEO, RGA, India Sunil Sharma, a qualified actuary,...
Bima Manthan: IRDAI to include state insurance plans in revised rural and social obligation for the industry
The mission of achieving maximum insurance inclusion received...
Register drones by January 31 or face action: Aviation ministry
In the notice issued on Monday, the ministry said, “On successful submission of voluntary disclosure of possessing drone, a Drone Acknowledgement Number (DAN) and an Ownership Acknowledgement Number (OAN) will be issued online which will help in validation of operation of drones in India.”
Kumar Mangalam Birla says ‘slowbalization’ will define decade
He also had words of admiration for Greta Thunberg, the high-profile teen activist who has became the face of a global movement against climate change. Companies are now forced to think about generating revenue while ensuring sustainability, Birla said.
Ritu Nanda passes away,holds a record for selling 17,000 LIC pension plans in a day
Nanda’s name was once featured in the Guinness Book of World Records for selling a staggering 17,000 pension plan policies in a single day, IANS reported. She was a “one-window” insurance advisor for top Bollywood personalities in the past over four decades with insurance policies running into stupendous amounts of hundreds of crores of rupees.
Income tax relief likely in Budget: Flat rates, fewer exemptions being considered
At present, an individual can save upto ₹1.5 lakh per annum under Section 80C of the Income Tax Act by making investments in insurance plans and few other specified instruments including buying a pension plan run under the NPS. An additional self contribution (up to ₹50,000) under section 80CCD (1B) is available as NPS tax benefit. In addition, there are deductions for contributing towards paying premium for health insurance and for paying installment for homes bought on loans.
FPIs pull out ₹2,415 crore from domestic markets in January so far
Overseas investors have turned net sellers in January after remaining buyers for four consecutive months since September 2019.
“Cautiousness among foreign investors was apparent as they closely watched the developments on the global front before investing in the Indian equity markets. Geopolitical turmoil triggered by increased tension between US and Iran played a key role in the way equity markets behaved globally,” said Himanshu Srivastava, senior analyst manager research at Morningstar Investment Adviser India.
DPIIT to discuss data issues in draft e-comm policy with firms on Jan 14
Further, sources said that issues which needs to be looked upon include whether India should allow free flow of data across the border or inhibit or regulate it in some manner; and whether data localisation is required or not.
Auto sector records worst-ever sales decline in two decades in 2019: SIAM
Similarly, total passenger vehicle sales during 2019 declined by 12.75 per cent to 29,62,052 units as compared with 33,94,790 units a year ago. This is the worst performance in the segment since 2013 when sales witnessed a dip of 7.49 per cent.
Banks should sell life insurance products more aggressively:LIC chief
According to K Ganesh, member, Life, the major challenge in the industry is to convince people to take life insurance. According to him, schemes like Jan-dhanYojana, PMJJY, PMSBY and Jan Arogya scheme have been instrumental in increasing customer protection.
Insurers have to pay interest if health claims are delayed beyond 30 days:IRDAI
The insurer cannot not repudiate the policy on the ground of fraud, if the insured person / beneficiary can prove that the misstatement was true to the best of his knowledge and there was no deliberate intention to suppress the fact or that such mis-statement of or suppression of material fact are within the knowledge of the insurer. Onus of disproving is upon the policyholder, if alive, or beneficiaries
General insurance industry grows by 15 % to Rs 1,42 trn in Apr-Dec period
Except ICICI Lombard General Insurance and DHFL General Insurance who have de-grown their premium by eight per cent and 37 per cent respectively,rest of the players have expanded their premium income in Apr- Dec period of the fiscal.