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Indian News

Indians grossly underprepared to face the financial instability caused by eventualities: Max Life Survey

Prashant Tripathy, Managing Director and CEO, Max Life Insurance said: “The survey reveals some interesting and startling findings about the state of protection in the country as well as the attitudes, behaviours and apprehensions that people have around life insurance. Term Insurance, despite being the most fundamental and cheapest form of financial protection, still lacks a significant uptake in urban India. There is an urgent need for Indians to understand the true value of protecting one’s family from the uncertainties of life. We hope the results of this study, act as a wake-up call for consumers and the industry at large and help increase financial protection in the country.”

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Breather for startups: Govt raises investment cap for angel tax concession

“An entity shall be considered as startup if its turnover for any of the financial year, since its incorporation or registration, has not exceeded Rs 100 crore instead of the existing Rs 25 crore,” the official said.Besides, investments by listed companies with a net worth of Rs 100 crore or turnover of Rs 250 crore into an eligible startup shall be exempt from the section 56 (2) (viib) of the Income Tax Act, beyond the Rs 25 crore limit.

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How tech giants are safeguarding global data centres from cyber attacks

“While physical security is given utmost importance at data centres, it is critical for organisations to beef up their cybersecurity posture through regular vulnerability assessments and penetration testing to check their readiness to tackle cyber threats,” Sanjay Katkar, Joint Managing Director and Chief Technology Officer, Quick Heal Technologies Limited, told IANS.

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Citi India CEO lost RBI confidence

The RBI around the end of last year informed Citigroup that it wouldn’t approve a new term for Pramit Jhaveri, who had been India chief executive officer (CEO) for almost a decade, people with knowledge of the matter said. That prompted the bank, which had planned to nominate Jhaveri for another three-year term, to change course and move him to another position, the people said, asking not to be named. 

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