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Tampering with mobile IMEI non-bailable offence, attracts 3-yr imprisonment, Rs 50 lakh penalty: DoT
"DoT emphasises that these regulations are essential for...
Exempt life insurance from GST to enable insurers to claim ITC benefits: LIC MD Patnaik
Ratnakar Patnaik,managing director,LIC, appealed to the government...
Oriental Insurance H1 losses fall sharply to Rs41 crore from Rs3,587 crore, may turn profitable in FY23-24: RR Singh
RR Singh, CMD, Oriental Insurance Company, admitted that the company aims to be profitable in FY 24 despite having many of the complex financial problems like lack of capital and required solvency New Delhi/Mumbai: After years of heavy losses and despite having severe...
SBI General Insurance issues its first surety bond as bid security for NHAI
NHAI has been working closely with Highway Operators Association of India (HOAI), SBI General Insurance and AON India Insurance to implement this initiative Insurance surety bond has been issued for NHAI monetization bid of TOT bundle 14 @ 0.25% by the insurer without...
Soon certain category of 4-wheelers will have inbuilt collision warning signal: Morth
The road ministry proposal assumes significance as the number of road accidents in India went up by an alarming 12 per cent to over 4.6 lakh in 2022, resulting in the deaths of 19 persons every hour New Delhi: The Ministry of Road Transport and Highways (MoRTH) has...
LIC Q2 net profit at Rs 7,925 crore on lower income, ropes in BCG for digital transformation
`We are conscious of the market dynamics in certain parts of our business and are working towards profit-oriented consolidation. The distribution mix is also more diversified with increase in share of Bancassurance and Alternate Channels. We continue to remain focused...
GIC Re’s net profit falls 14% to Rs1605 cr in Q2FY24, resumes topline growth
``Having had significant degrowth in last few quarters, we believe that we are at a point where growth with profitability should drive our business strategy'' N Ramaswamy, CMD GIC Re Though, GIC Re’s underwriting losses have risen by 60 per cent y-o-y to Rs 1472...
Insurers to lead bids for Reliance Industries’ mega bond issue – bankers
"There is demand from long-term investors like insurance and pension funds. There has been a limited number of corporate bonds issuance in longer tenor in the last two quarters, so, this RIL issue comes at an opportune time," said Badrish Kulhalli, head of fixed...
Mumbai air quality deteriorates, health alert issued in CST area
The Bombay High Court on Monday passed interim directions for the Maharashtra government and municipal authorities in Mumbai and surrounding areas to mitigate the issue of worsening air pollution Mumbai: Air quality in Mumbai continued to remain in the 'Moderate'...
Centre taking steps to promote Ayush system of medicine: MoS Mahendrabhai
The Ministry of Ayush is working on the operationalisation of 12,500 Ayush Health and Wellness Centres (AHWCs) under NAM by 2023-24, the minister said New Delhi: Union Minister of State for Ayush Munjpara Mahendrabhai on Wednesday said the Centre is taking steps for...
New India Assurance incurs losses of Rs192 crore in Q2 due to large CAT events
` Q2FY24 was one of the most challenging quarters for the company in recent times. The company suffered catastrophic losses on account of floods amounting to net of Rs 301 crore during the quarter. While a confluence of multiple events affected the results for...
Sexual harassment at workplace must be viewed seriously, says SC; sets aside HC order granting relief to former employee
"Sexual harassment is a pervasive and deeply rooted issue that has plagued the societies worldwide. In India, it has been a matter of serious concern, and the development of laws to combat sexual harassment is a testament to the nation's commitment towards addressing...