M Nagaraju, Secretary,Department of Financial Services "Secretary...
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Generali announces Central Bank as its new joint venture partner in 2 Indian insurance JVs
Generali will be holding a 74% stake while Central Bank of India...
T’gana pharma plant explosion: Sigachi says unit fully insured, assures support to affected persons
"The Hyderabad facility is fully insured, and we are in the process...
IRDAI to hire senior professionals from open market, offers packages more than chairman’s salary
The posts which have been advertised for recruitments are Chief Technology Officer (CTO),Chief Communications Consultant (CCC), Chief People Officer (CPO) and Chief Risk Officer (CRO) The minimum gross emoluments for all these posts would be around Rs70 lakhs per...
World Bank approves $100 million to improve disaster response in Odisha
"The Program will help Government of Odisha scale up existing social protection systems to better protect vulnerable households from climate shocks," said Auguste Tano Kouame, the World Bank's Country Director for India. Washington: The World Bank's Board of Executive...
Sebi to put in place regulatory framework on ESG disclosure, ratings
Also, the regulator has decided to come up with norms for ESG Rating Providers (ERPs) amid the growing importance of their role in making investment decisions. To promote ESG investing, Sebi will introduce certain measures to address the risk of mis-selling and...
Sebi puts in place cybersecurity framework for portfolio managers
Accordingly, all portfolio managers with asset under management of Rs 3,000 crore or more, under discretionary and non-discretionary portfolio management service taken together, as on the last date of the previous calendar month will comply with the provisions of...
NCLAT upholds Rs 1,337.76 cr fine on Google, make some modifications in CCI order
On October 20 last year, the Competition Commission of India (CCI) slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices. CCI had also ordered the internet major to cease and desist from various unfair...
Piramal and TPG plan exit from Shriram General
Shriram Capital is the largest shareholder of Shriram General Insurance Holdings, with a 63.88% stake. Piramal owns about 20%, while TPG has a roughly 9.5% holdings. An employee’s trust holds the remainder Mumbai: Billionaire Ajay Piramal and TPG Inc. are considering...
Licences of 18 pharma firms cancelled for manufacturing spurious drugs, 26 issued show-cause notices
An official source said that the action has been taken against 76 companies in the first phase of a special drive against the manufacture of spurious drugs New Delhi: In a major crackdown against the manufacture of substandard drugs, central and state regulators...
Expenses of Management(EoM): IRDAI fixes at 30% for general insurers,35% for health insurers
Premium in Rs, crore The new limit on EoM will be effective from April 1 The general and health insurers have to ensure that their expenses of management are within the allowable limit on the overall basis. Where the insurer has exceeded the allowable limits of...
Aditya Birla Capital exits insurance broking business; to sell its arm to Edme Services
The proposed deal includes the sale of the entire 25,65,103 equity shares of Rs 10 each held by the company (along with its nominees), representing 50.002 per cent of the issued and paid-up share capital of ABIBL to Edme Services Private Limited, Aditya Birla Capital...
India’s $1 trillion sovereign bond market sees rising clout of insurers
“Insurance companies have been one of the key investors in long-maturity bonds,As the penetration and reach of distribution channels increase, we expect that the growth in the sales of the traditional products to continue to grow, and consequently the demand for...