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India approves 3 more Russian insurers to provide marine cover
With the granting of the permits to Sberbank Insurance, Ugoria...
Indian stock markets ends lower on Tuesday as investors book profits
The foreign institutional investors have sold Rs 477 crore worst of...
Cyclone likely to reach WB-Bangladesh coasts by Oct 25, skirt Odisha: IMD
IMD Director General Mrutunjay Mohapatra said the IMD has not so far made any forecast on the possible landfall, intensity and wind speed of the cyclone. The system will pass through Odisha coast at a distance and there was no possibility of making landfall in the...
Competition Comm slaps Rs 1,337.76 crore on Google
Besides, the fair trade regulator has directed the internet major to cease and desist from unfair business practices New Delhi: The Competition Commission on Thursday imposed a penalty of Rs 1,337.76 crore on Google for abusing its dominant position in multiple...
Govt seeks $7.7 billion value for IDBI Bank in stake sale
After years of trying, the government has only been able to privatise national carrier Air India Ltd. and introduce outside backers to LIC, while its plans to sell refiner Bharat Petroleum Corp Ltd. hit a wall as bidders struggled to find partners. New Delhi: India is...
Axis Bank says followed all rules in Max Life Insurance deal
The statement comes against the backdrop of two orders by the insurance sector watchdog Irdai in the last few days, wherein Max has been fined Rs 3 crore while a penalty of Rs 2 crore has been imposed on the bank regarding the deal on concerns over valuations Mumbai:...
IDBI Bank privatisation: LIC to recover its investment by time of sale
LIC had bought a 51 per cent stake in IDBI Bank in 2019 for Rs 21,624 crore at an average price of Rs 61 per share. Following a QIP issue in December 2020, the stake of LIC came down to 49 per cent New Delhi: State-owned insurance behemoth LIC is expected to recover...
Maha govt eyes to make use of satellites for crop damage assessment and payout to farmers
Maharashtra Deputy Chief Minister Devendra Fadnavis said, “Satellite-based crop damage assessment and compensation will be a game changer in this sector. The satellite images will decide the intensity of crop damage and go on to make compensatory payment to farmers.”...
Unseasonal rain, crop losses could keep India’s food inflation high
The crop losses for farmers across the country mean that food prices, already at their highest in over two years, could stay elevated, instead of tapering after the harvest as they usually do India's millions of rural poor will be particularly affected, hit by both...
Combined wealth of India’s 100 richest on Forbes list rises to USD 800 billion: Report
Mukesh Ambani, who controls Reliance Industries, the energy to telecom giant, is at number two with USD88 billion, down 5per cent from last year. Between them, Adani and Ambani now account for 30per cent of the total wealth of India's 100 richest Mumbai: The...
RCap Administrator seeks to reconstruct Reliance Capital into 4 core investment companies
The sole objective of reconstructing RCap CIC into four CICs is to help select bidders of RCap's insurance businesses circumvent the IRDAI guidelines related to the five-year lock-in period Mumbai: In a surprise move, the Reliance Capital (NS:RLCP) (RCap)...
CCI slaps penalties totalling Rs 392 cr on MakeMyTrip, Goibibo, OYO
Among others, it was alleged that MMT-Go imposed a price parity in their agreements with hotel partners. Under such pacts, the hotel partners are not allowed to sell their rooms on any other platform or on its own online portal at a price below the price at which it...