“As the relevant provisions of the MV Act and Central Motor...
Category:
Indian News
Latest
World Bank to fund Odisha to increase social protection, disaster resilience
This Externally Aided Project will augment government efforts in...
Nipah: Kerala to test samples of all persons in ‘high-risk’ contact list
State Health Minister Veena George said that there are 14 persons...
Motor Third Party:SC asks IRDA to offer 3 yr cvr for cars
Though driving any vehicle without third-party (TP) insurance is an offence and attracts a fine of up to Rs 1,000 with a possible jail term of three months, 50 per cent of vehicles plying on roads have currently no valid insurance- a large share of them were two-wheelers- against approximately 18 crore registered vehicles.
States allowed to set up crop insurance firms to execute PMFBY
The move comes after several requests from states as well as observations made by Comptroller and Auditor General (CAG) in its 2017 report that old crop insurances schemes which have now been merged with PMFBY, were poorly implemented during 2011-2016.
General Insurance industry likely to hit Rs1.5 trn prm kitty in 2017-18
“Yes, the industry may achieve the magical figure of Rs 1.5 trillion for the year gone by. Even though crop has remained subdued during the year , still it will be one of the three major segments along with motor and health contributing to the industry’s growth,’’ said MN Sharma, CMD, United India Insurance.
New India Assurance achieves Rs 26,000 cr of global prms, up 17 pc in 2017-18
“ The great performance is largely due to the brand of the company, high level of customer service, distribution reach of the company and very high financial strength we bring to the table including International A-(Excellent) Rating,’’ G Srinivasan, CMD, NIA
IRDAI reduces TP motor premium for bikes, cars and taxis from Apr 1
For small car owners (below 1,000cc), third party premium has been reduced by 10 per cent to Rs 1,850. For sedans (1,000-1,500cc) and SUVs (above 1,500cc), there has been a uniform rate cut of 8.5 per cent to Rs 2,863 and Rs 7,890 respectively
Here’re the key tax changes that will come into effect from April 1, 2018
While the exemption limit on income from interest for senior citizens has been raised five times to Rs 50,000 per year, the limit of deduction for health insurance premium and medical expenditure has been raised to Rs 50,000 from Rs 30,000 under section 80D of the I-T Act.
Govt notifies new accounting standard, effective April 1
Sandip, Khetan, National Leader and Partner (Financial Accounting Advisory Services) at EY India said Ind AS 115 is going to significantly change the revenue of companies especially in sectors like EPC, technology, mining and metals, real estate, telecom and e-commerce.
Reinsurance of PM Fasal Bima Yojana & other major social security schemes exempted from GST
“ Insurers shall avoid any undue enrichment on this account. Insurers may note that if necessary benefit on account of reduction in premium is not passed on to the insured / Govt., suitable action against the Insurance Companies may be initiated with National Anti-Profiteering Authority under Section 171 of the CGST Act,’’ said a notification by IRDAI on Wednesday
Sebi partly accepts Kotak panel suggestions; for separating Chairman, CEO posts
Among others, the board has approved expanding the eligibility criteria for independent directors, enhancing the role of audit, nomination and remuneration, and risk management committees.
No proposal to replace National Pension System: Govt
“Representations have been received regarding the implementation of NPS which, inter alia, include the demand that the NPS may be scrapped and the government may re-introduce the old defined benefit pension system,” the minister added.