Prime Minister Narendra Modi World Bank has estimated that cyber...
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Bima Manthan: IRDAI to meet insurance CEOs on Sep 4-5
IRDA chairman Debasish Panda will address CEOs of general insurance...
OIC CMD RR Singh to head GIPSA after Gupta
RR Singh, CMD, Oriental Insurance Company GIPSA earlier had four...
New India Assurance records 20 pc jump in prm at Rs 16,800 crore in Q3
The largest general insurance company in the country has recently concluded a Rs 3-lakh-crore insurance cover for Reliance Industries, the largest risk cover in the country. The premium income from the cover will be Rs 725 crore
Celebs face up to 3-year ban for misleading ads in new bill
If the Central Consumer Protection Authority (CCPA), proposed to be set up under the bill, is satisfied that an advertisement is false or misleading, it may issue directions to endorsers, advertiser, publisher as well traders and manufacturers to discontinue or modify such an ad.
Android banking Trojan may target Indian banks’ mobile apps: Quick Heal
“Users are advised to avoid downloading apps from third party app stores or links provided in SMSs and emails to keep their credentials safe,” Sanjay Katkar, Joint Managing Director and Chief Technology Officer, Quick Heal Technologies Limited, said in a statement.
Indian insurance penetration remains flat at 3.14 pc in 2016
During the first decade of insurance sector liberalisation, the sector had reported consistent increase in insurance penetration from 2.71 percent in 2001 to 5.20 percent in 2009. Since then the level of penetration was declining till 2014.
Life insurance industry witneses 12 pc jump in surrenders/withdrawals of policies in 2016-17
According the latest annual report by the IRDAI, the benefits paid during 2016-17 on account of surrenders / withdrawals increased by more than 12 per cent and stood at Rs 90005.41 crore, of which the state owned Life Insurance Corporation accounted for Rs 44924.56 crore and private sector Rs 45080.85 crore.The comparative previous year statistics were Rs 80333.74 crore, of which LIC accounted for Rs 37504.33 crore and private sector paid Rs 42829.41crore
Digital economy: Parliamentary panel suggests govt to form law on data privacy
Committee also found it “rather disconcerting” that even as the country moves towards a digital economy, transactional hassles and grievances of users, including ATM frauds such as cloning, have also been increasing manifold. Ordinary customers are then left high and dry, extremely helpless and clueless about the next course of action for a remedy and redressal of grievance,” the report said.
General Insurers cut premiums for private cars & CVs
General insurers say premiums reduction is largely due to the IRDAI’s MISP(Motor Insurance Service Provider) circular which reduced the commission to auto dealers. Insurance regulator, had capped distribution fees payable to auto dealers at 22.5 per cent for two-wheelers and 19.5 per cent for four-wheelers and sports utility vehicles (SUVs).Earlier, general insurance companies used to pay this distribution fees in the range of 30-40 per cent, across the segment.
Government open to raising deposit insurance cap of Rs 1 lakh: Arun Jaitley on FRDI Bill
“Certain misgivings have been expressed in the media, especially social media, regarding the depositor protection in the context of ‘bail-in’ provisions of the FRDI Bill. These misgivings are entirely misplaced,” the ministry said.
No plan at present to have all electric car fleet by 2030: Govt
Union Minister Piyush Goyal had earlier said the world is moving towards electric vehicles and the government is working on a road map to ensure all-electric car fleet in the country.
No charges on debit card transactions up to Rs 2,000: Finance Ministry
The merchant discount rate (MDR) will be borne by the government for two years with effect from January 1, 2018 by reimbursing the same to banks.The move will have an impact of Rs 2,512 crore on the exchequer.