Insurers repudiated claims amounting to Rs 10,937.18 crore (9.34...
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High employee attrition of 25% in private banks pose operational risk: RBI
"High attrition and employee turnover rate pose significant...
Climate change risks impacting financial system, need India-specific data: RBI’s Dy Gov
“Over the last few years, we have taken several incremental...
At least 50 missing after boat capsizes on Brahmaputra in Assam
Jorhat district police chief Ankur Jain said that the police and the disaster management personnel located the capsized boat about 350 metres from the riverbank.
“We have rescued around 20 people on board the boar from various places downstream. However, around 50 people are missing till late evening,” he told the media adding that the searches for the missing people are on.
‘Everyone is scared’: Govt’s criticism of Infosys, Tata worries India Inc
In India, safeguarding domestic businesses has been Modi’s priority. While government or RSS criticism of foreign businesses like Amazon and Monsanto is common, local businesses are rarely caught in the crossfire.
But the latest events have raised concerns among business leaders about whether Modi is now taking a hardline approach towards domestic giants as well, five industry sources said.
One venture-capital executive said the criticism was akin to “harassment” of businesses and risks souring investor sentiment.
India to give $3.5 billion in revised clean tech scheme for automakers – sources
Under the revised scheme, companies that qualify will get cashback payments equivalent to around 10%-20% of their turnover for EVs and hydrogen fuel cell cars, one of the sources said.
Carmakers would need to invest a minimum of about $272 million over five years to qualify for the payments.
Auto parts makers will get incentives to produce components for clean cars and for investing in safety-related parts and other advanced technologies like sensors and radars used in connected vehicles.
Cannot order door-to-door COVID vaccination in this diverse country, or just scrap policy: SC
A bench of Justices D Y Chandrachud, Vikram Nath, and Hima Kohli refused to entertain a plea of a lawyers’ body seeking door-to-door COVID-19 jab for the disabled and people belonging to weaker sections of society, said the vaccination drive is already in progress and over 60 percent of the population has been administered the first dose.
India’s fintech market to triple to Rs 6.2 lakh cr by 2025: MoS Finance Karad
Minister of State for Finance Bhagwat K Karad said that India has been ranked number one in terms of digital transactions and the total digital transactions have crossed 25 billion.
India provides a great ecosystem for Fintech development like access to bank accounts under the PM Jandhan Yojana, digilockers and scalable platforms including UPI.
New India’s credit ratings affirmed, with $ 5.1 billion of capital co can insure large overseas risks: AM Best
NIA’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, which remained at the strongest level in fiscal year 2021, as measured by Best’s Capital Adequacy Ratio (BCAR).Its underwriting portfolio is considered to be well-diversified by line of business, distribution channels and geographically. In addition, the company is the only direct insurer in India with considerable overseas operations, which provide a level of diversification to its domestic portfolio. While the domestic market continues to present significant growth opportunities for New India, intense competition in the largest lines of motor and health business continue to drive premium rate inadequacies and pressure underwriting margins, said AM Best.
RMS to enhance risk analysis for J. B. Boda’s India Portfolio
This agreement will strengthen J. B. Boda’s risk analysis capabilities to enhance their support of clients that have portfolios with risk exposure in India. J. B. Boda continues to grow its activities and client base in various markets. It is further enhancing its in-house capability of assessing risks.
Govt considering foreign institutional investment of up to 20% in LIC IPO: Report
The listing of LIC is set to be India’s biggest ever IPO, with the government aiming to raise up to Rs. 900 billion ($12.24 billion) from its stake sale.
The move will help ease the fund-raising process for the IPO planned by the government for the company most likely in the current financial year. The IPO is expected to be offered in two parts to investors given concerns over the Indian stock market’s ability to absorb an offering of such a size.
Neeraj Chopra signs first brand endorsement with Tata AIA Life
This association also marks the very first brand partnership to be signed with the champion javelin thrower, post his historic Olympic win.Over the next few years, Neeraj will support Tata AIA’s efforts in offering best in class life protection and health & wellness solutions to its consumers across the country.
FADA warns of lacklustre festive season for passenger vehicles due to semiconductor shortage
”Auto dealers are facing the most challenging phase of their business career as COVID-19 after-effect continues to play spoil-sport. Until last year, when demand was a challenge, supply is becoming a bigger problem currently due to shortage of semiconductors, even though there is high demand for passenger vehicles,” FADA President Vinkesh Gulati said in a statement.