The court, however, asked if the LIC suffered a loss due to the investment, how would it provide a bonus under its policies to its customers and enquired if the central government was undertaking to guarantee a profit 

The observation by a bench headed by Justice Madan B Lokur came when a lawyer questioned the compensation scheme of the National Legal Services Authority (NALSA) as per which women victims of sexual assault or acid attacks get a minimum compensation of Rs 5 lakh and a maximum of Rs 10 lakh in case of loss of life 

According to the Cabinet decision, the overdraft facility for the accounts opened under the new scheme will be doubled to Rs 10,000 from Rs 5,000, and Rs 2,000 will be without conditions. The age limit for availing the overdraft facility has also been increased to 65 years from 60 years.the accident insurance cover available on the Rupay debit card linked with the new insurance account has been doubled to Rs 2 lakh from Rs 1 lakh.

The move will mark the entry of the insurance behemoth into the banking space.In August, the Cabinet had approved LIC’s proposed acquisition of up to 51 per cent stake in IDBI Bank 

On August 30, the CM had said there were “lapses” on the part of the IMD’s rain forecast during this period. The IMD had forecast an estimated 98.5 mm rain in the state between August 9 and 15. But, the actual rain received was 352.2 mm, Keral CM said.

The moves by the two top buyers of Iranian crude indicate that the Islamic Republic may not be fully cut off from global oil markets from November, when U.S. sanctions against Tehran’s petroleum sector are due to start.

The capital expenditure would go into rebuilding roads, bridges, buildings, while the revenue expenditure would meet the compensation towards agriculture crops besides damage caused to homes and the Rs 10,000 to every family who were devastated by the floods.