In a regulatory filing, the bonus issue will be done by...
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Govt drops any merger plans among PSU general insurers
Though, the government had not announced any specific plans for the...
State can’t differentiate between serving employees and pensioners on DA: SC
In a significant judgment upholding the right to equality for...
FSIB to select a new CMD for OIC on Friday
Government appoints Amit Misra as acting CMD of OIC for three months The five shortlisted senior officials who will be interviewed are-Rekha Solanki, ED, National Insurance Company, Anjana Saxena, National Insurance Company, Chandra Iyer, GM, New India...
PSU general insurance industry Unions reject govt’s 12% wage hike proposal
Unions want a 17 per cent hike to be on par with the Life Insurance Corporation(LIC) and the Indian banking industry. GIPSA management has assured the matter would be taken up again with the Department Financial Services for further consideration, according to union...
IFSC-GIFT City based insurers should develop products for tapping 32 million NRIs and Indian diaspora: IFSCA chairman
Narendra Bharindwal, president, Insurance Brokers Association of India, K. Rajaraman, Chairman, IFSCA , T Alamelu, principal advisor, IFSCA at the launch of IBAI's chapter at IFSC- GIFT City ` There is a huge retail opportunity for the IFSC-GIFT City based insurers...
SC says digital access intrinsic to right to life, directs changes in KYC guidelines for disabled
A bench of Justices JB Pardiwala and R Mahadevan said the changes in digital KYC guidelines for people with disability, including blindness, and acid attack survivors are necessary as they are unable to complete the KYC process and avail facilities like opening bank...
Insurance companies plan $41 bn trade switch to bond forwards
Insurance companies are in talks with the authorities to convert about Rs 3.5 trillion ($41 billion) worth of rates derivative contracts into bond forwards, people familiar with the matter said. Such contracts offer investors the opportunity to own the securities,...
Uniform cybersecurity norms should govern telcos, OTT communication apps: COAI
"COAI feels that the cybersecurity measures need to be reinforced with clear outlines on the purpose, which is to free the people of such unwanted spam/fraud calls and messages to the maximum extent possible. For the same purpose, it may be judicious that similar...
Climate change may lead to increased probability of defaults: RBI DG Rao
M Rajeshwar Rao,deputy governor, Reserve Bank of India "Climate change would lead to additional operational costs for the borrowers with an increased possibility of loss of their assets, leading to increased probability of default by the borrowers," he said at Credit...
Canara HSBC Life Insurance files for an IPO, PNB to exit JV
Canara HSBC Life Insurance Company is a joint venture promoted by state-owned Canara Bank, which owns a 51 per cent stake, and HSBC Group's HSBC Insurance (Asia Pacific) Holdings, which holds 26 per cent. Punjab National Bank holds the rest of stakes and will exit...
Fire breaks out at Aurobindo Pharma’s plant in AP; co temporarily suspends ops
Importantly, there were no injuries reported, it added. “As a precautionary measure and to facilitate necessary equipment replacements, operations at the plant will be temporarily paused for an estimated period of 20 to 25 days,” the company said. New Delhi: Aurobindo...
FM ask NPCI to address infrastructure gaps to prevent future disruption of UPI
Nirmala Sitharaman,Finance Minister NPCI officials also informed the Finance Minister that between 2021-22 and 2024-25, around 26 crore new users and 5.5 crore new merchants have been successfully onboarded onto the UPI platform. UPI now has approximately 45 crore...