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Airlines bound by promised delivery date given by their agents: SC
A bench of Justices A.S. Bopanna and P.S. Narasimha said that an...
90 pc organisations say generative AI will help add new lines of biz over 12 months: PwC
The report also revealed that in 2024 cyber investments are...
Significant beneficial owners in companies to face strict action for wrong disclosures
Significant beneficial owners, who fail to make a declaration regarding their ownership, could face fine, imprisonment or both under the Companies Act. In instances, where such entities have willfully provided incorrect information, then such acts would be considered as fraud under the Act. Similarly, companies that fail to maintain registers of significant beneficial owners would also face action, as per the rules.
Informal sector workers can join PMSYM pension scheme from Feb 15
The monthly contribution by the worker joining the scheme would be Rs 55, with matching contributions from the government. The contributions would rise at higher age. The worker joining the scheme at the age of 40 years would contribute Rs 200, while workers at the age of 29 years would pay Rs 100. The scheme will cover unorganised workers who are working or engaged as home based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, agricultural workers, construction workers, among others. < ..
GIC Re’s net profit at Rs1,620 in Apr-Dec period
The combined ratio of the reinsurer improved to 107.6 per cent for the nine months ended Dec 2018, in comparison to 110.3 per cent in of the half year ended in Sept 2018
Bank liable for unauthorised withdrawal even if no reply to SMS alert: HC
SMS alerts cannot be the basis to determine the liability of a customer, for there would be account holders who may not be in the habit of checking SMS alerts regularly, the court said.
RBI cuts repo rate by 25 bps, market expects more cuts
India Inc on February 7 cheered RBI’s move to slash key interest rate by 25 basis points and hoped it would encourage banks to lower lending rates, thereby stimulating consumption and investment demand to boost economic growth.
“Insurers perceived to be moderately equipped to deal with new age risks”
Bhargav Dasgupta, MD & CEO, ICICI Lombard, “New age risks are already a reality today, globally and in India. It is most critical that Indian firms take cognizance of this aspect. As is evident from our ‘Managing New Age Risks’ survey, being prepared and having the right risk management framework in place is the need of the hour.”
Insurers need to diversify investments to tackle climate risks:IRDA chief
Alice Vaidyan, CMD, GIC Re said that the reinsurance and insurance sector have witnessed varies catastrophes in the last few years and in case of hurricane scenario, some patterns can be found. She emphasised that there is urgent need by insurers and govt. to put forth finances and support the risk management processes.
`Regulatory Sanbox: IRDAI Irdai to allow testing of products before launch
The applicant can apply in any one of more of the five categories namely insurance solicitation or distribution, insurance products, underwriting, policy and claims servicing and any other. The applicant could apply singly or jointly in one or more than one category, provided that if the category involves insurance product or underwriting, then the applicant necessarily has to partner with an insurer.
New India Assurance records a net profit of Rs 850 cr in Apr-Dec period
Atul Sahai, chairman and managing director.said, “Q3FY19 has been challenging quarter for the company with multiple CAT events like Typhoon Trami, Hurricane Michael, California Wildfires, Kuwait floods and further adverse development in Hurricane Jebi and Hurricane Irma severely impacting the foreign operations in UK, Japan, Bahrain, Aruba and Curacao. The overall impact of these events in Q3FY19 was about Rs 450 Cr.
On the positive side, the company has taken steps taken to correct the pricing in health line of business is getting reflected in the improved results by this line of business, he said.
Moderate intensity quake jolts Kashmir
The epicentre of the quake was at a depth of 40 kilometres in northwestern Kashmir, 118 kilometres from Srinagar, the officials said.There were no reports of any casualties or damage due to the quake so far.