Industry experts said the MobiKwik case is not an isolated one. In...
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Boeing, Honeywell sued by Air India crash victim families
The lawsuit filed on Tuesday in Delaware Superior Court blames...
AI plane crash Pilot’s father seeks another probe saying AAIB findings tarnished his son’s image
Amid speculations about the cause of the fatal crash after the...
LIC becomes fifth most valuable firm as stocks soar, GIC Re and New India hit record high
The company's market valuation went up by Rs 38,740.62 crore to Rs 6,99,702.87 crore. With this, the company became the fifth most valued firm by market capitalisation (mcap), beating ICICI Bank Mumbai: Though the sock market slided on Thursday , shares of Life...
Par panel asks ministries to work on mechanism to check virtual accounts misuse
The panel said that while being briefed about the various modes of cyber frauds, the MHA representatives submitted that a virtual account was one such issue that fraudsters were using for committing frauds. It was further submitted that these virtual accounts were...
LIC net surges almost 50% to Rs 9,444 crore in Q3 FY23-24
"Our consistent and focused approach towards diversifying and changing our product mix is now yielding results at a faster pace. " Chairperson Siddhartha Mohanty, said Mumbai: Life Insurance Corporation of India reported a nearly 50% rise in third-quarter profit on...
RBI plans new framework for authentication of digital transactions
To enhance the security of AePS(Aadhaar Enabled Payment System ) transactions, it is proposed to streamline the onboarding process, including mandatory due diligence, for AePS touchpoint operators, to be followed by banks. Additional fraud risk management requirements...
RBI leaves key rates unchanged as inflation remains above 4%
Monetary policy must continue to be actively disinflationary, RBI Governor Shaktikanta Das said in his statement MUMBAI: India's key rate was left unchanged for a sixth straight meeting on Thursday, as inflation remained above the central bank's 4% medium-term target...
GIC Re net profit jumps 27% to Rs1,518 crore in Oct-Dec Qtr, further reduces loss making Crop biz
`Our results during the quarter are more or less as per expectations. Domestic premium this quarter has come down due to our decreasing agricultural business. Combined ratios have gone up in domestic due to two natural catastrophic events in the quarter,'' said N...
PM Modi tears into Congress for ‘spreading lies’ on LIC, PSUs
Prime Minister Narendra Modi People’s confidence is improving in PSU shares, the Prime Minister said, as he shared some key facts and inputs in the Upper House to buttress his views that LIC and HAL are making progress in what contradicts the claims of the opposition...
IRDAI sets higher targets for insurers in revised norms on `Rural, Social Sector and Motor Third Party Obligations’
Insurance business pertaining to Government social security schemes such as Pradhan Mantri Awas Yojana, Pradhan Mantri Suraksha Bima Yojana (PMSBY),Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJY), etc. where total/ partial premium is paid by the Government,...
Premiums for disaster-prone areas need to be subsidised: Parl panel
This may require a specialized insurance business to be set up by one of the PSU general insurance companies with subsidized premiums for disaster-prone areas, the panel said The government may need to consider how to provide insurance for projects that have to deal...
House panel recommends reduction of GST on health, term and micro insurance policies
Jayant Sinha, chairman, Parliamentary Standing Committee on Finance The Committee is in favour of allowing composite licensing that could provide further impetus to the insurance sector owing to its various benefits New Delhi: The Parliamentary Standing Committee on...