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13 dead, 101 rescued after Navy speed boat rams into ferry off Mumbai coast
The Neelkamal ferry, with 80 persons and five crew members on...
AIIMS, CSIR to collaborate for research in healthcare, emerging technologies
“This partnership will pave the way for significant breakthroughs...
AB Sun Life Insurance reduces premium rates for its term insurance plan up to 15%
Commenting on the premium price reduction of ABSLI DigiShield Plan, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, “The pandemic lasted longer than expected with people experiencing strains on their personal finances. We have been meticulously observing the pandemic experience before making any price revisions in our products. With a rise in demand for term plans, we have consciously announced reduction in premium for ABSLI DigiShield Plan, a hyper-personalized term plan offering, to suit our customer’s ever evolving monetary needs. “
Govt mulls permitting foreign investment in LIC
The proposal is under discussion between the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM).
According to the current FDI policy, 74 per cent foreign investment is permitted under the automatic route in the insurance sector.
However, these rules do not apply to the Life Insurance Corporation of India (LIC), which is administered through a separate LIC Act.
Crop sowing lags in India on scanty rains, raises concerns over yields
India is the world’s biggest exporter of rice and top importer of edible oils. A drop in production could not only limit rice and cotton exports, but also boost imports of edible oils such as palm oil, sunflower oil and soyoil. Indian farmers had planted 104.4 million hectares (25.8 million acres) with summer crops as of Aug. 20, down 1.6% from a year earlier, the Ministry of Agriculture & Farmers’ Welfare said in a statement.
Asia Pacific sovereign ratings can withstand Covid-19 waves: S&P
“Covid-19 does limited damage to the economic growth trend and structural fiscal performance of most sovereigns in the region,” said S&P Global Ratings credit analyst Kim Eng Tan. “Consequently, most sovereign ratings in the region are likely to remain unchanged over the next one to two years,” he said.
However, sovereigns’ fiscal resilience to future shocks can weaken as government debt levels rise further in the continued struggle with the pandemic. “The impact of further waves of Covid-19 infections could lower sovereign ratings that already have negative outlooks, especially if revenue growth disappoints and interest rates rebound by more than we expect,” said Tan.
QubeHealth partners with OboPay to launch 0% pre-approved medical credit for corporate employees
The product has been rolled out to a select group of 150 large companies employing over 1,50,000 people in India, as part of their Employee Health Benefits program and activated across 735 towns/cities.
Chris George, CEO & Co-Founder of QubeHealth, says, “Employee-Healthcare is now center-stage conversation for companies across India and HR teams have wanted to provide a comprehensive solution to their team’s families as they navigate their way through the pandemic. By facilitating emergency healthcare funds on tap, at no cost of capital, Employees will now have the flexibility to make better healthcare choices and augment any company-paid health insurance.”
16 merchant bankers in race for managing LIC IPO
Seven international bankers, including BNP Paribas, Citigroup Global Markets India and DSP Merrill Lynch Ltd (now known as BofA Securities), will make presentations on Tuesday, as per a circular by DIPAM.
Other bankers that will be making presentations on Tuesday are — Goldman Sachs (India) Securities, HSBC Securities and Capital Markets (India), JP Morgan India, Nomura Financial Advisory and Securities (India).
Passenger trains, stadiums, railway stations, airports in Rs 6 lakh cr monetisation plan
Under the plan, private companies can invest in projects for a fixed return using the InvIT route as well as operate and develop the assets for a certain period before transferring it back to the government agency. Some assets such as warehouses and stadiums can also be given on a long-term lease for operations.
”The asset monetisation pipeline takes the NIP (National Infrastructure Pipeline) to the next phase where you are looking at public-private partnership,” Sitharaman told a press conference.
COVID-19 third wave peak likely in October: NIDM report
Emphasising the effect of the potential COVID third wave on children, the report said the Indian Academy of Paediatrics found that there is no biological evidence that the current and the new Delta Plus variant will affect children more than adults.
LIC launches campaign for policyholders to revive lapsed policies
The campaign has been launched from August 23, 2021 to October 22, 2021, the release said. Policies which are in a lapsed condition during the premium paying term and not completed policy term are eligible to be revived in this campaign, it said.
CCI slaps a penalty of Rs 200 cr against Maruti Suzuki India for its anti-competitive conduct
CCI found that MSIL had an agreement with its dealers whereby the dealers were restrained from offering discounts to the customers beyond those prescribed by MSIL