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MediBuddy launches India Health Care Collaborators to enable insurance-integrated healthcare
The platform, named BuddyCare, serves as a plug-and-play solution...
Govt develops eMaap for ensuring fair trade, consumer protection and a centralized database of all stakeholders
eMaap simplifies critical procedures such as issuing, renewing, and...
Insurers settle 17.94 lakh COVID-related health insurance claims for Rs 21,837 crore in 15 months: Govt
replying to a question on cryptocurrency trading, Minister of State for Finance Pankaj Chaudhary said currently, all entities regulated by RBI have been advised to carry out customer due diligence process in line with regulations governing standards for KYC, Anti Money Laundering, Combating of Financing of Terrorism (CFT) and obligations of regulated entities under PMLA.
Lok Sabha passes bill to amend general insurance law without debate
As per the statement of objects and reasons of The General Insurance Business (Nationalisation) Amendment Bill, 2021, it seeks to remove the requirement that the central government should hold not less than 51 percent of the equity capital in a specified insurer.
It aimed at generating required resources from the Indian markets so that public sector general insurers can design innovative products.
Full functional autonomy for PSU general insurers not privatisation: Unions
On Friday, Sitharaman also said the private general insurers have greater penetration and raised more money from the market and therefore give a better premium for public and innovative covers. On the other hand, the government insurers are not able to perform as they are short of resources.
Responding to that Jha said: “In 2019-20 the four PSU general insurers issued about 7.33 crore policies. The numbers of last fiscal will be similar. One should compare this with the number of policies issued by the private players to calculate insurance penetration.”
Bengal finance minister Amit Mitra questioned the “anti-people policy” of privatising public sector insurance companies LIC and United India Insurance Company, urged her to stop the privatisation attempt that will jeopardise investments of crores of people.
Estimated loss worth Rs 632 crores occurred due to rain, cloudburst, landslide in Himachal
While speaking to ANI, State Disaster Management Authority Director Sudesh Kumar Mokhta said, “So far, 211 people and 438 animals have died in incidents related to rain, cloudburst, and landslide in Himachal Pradesh during this monsoon season.”
“109 houses are fully damaged. Estimated loss worth Rs 632 crores has occurred”, said SDMA Director SK Mokhta. This development comes hours after various incidents of floods, landslides following heavy rainfall were reported in the State.
Delhi: Water level in Yamuna rises again; over 100 families moved to safer areas
On Friday, the Delhi administration had sounded a flood alert and expedited efforts to evacuate people from vulnerable areas, as the river in the capital breached the danger mark of 205.33 meters amid heavy rains in the upper catchment areas. The water level was recorded at 205.30 meters at the Old Railway Bridge at 9 am.
Leading auto makers post double-digit sales growth in July
Similarly, Honda, Nissan, MG Motor, and Skoda also reported healthy growth in their sales last month leveraging on improved market mood amid prevailing lower coronavirus infection rate, despite supply constraints of semi-conductors.
The country’s largest carmaker Maruti Suzuki India’s (MSI) domestic sales increased by 39 percent to 1,41,238 units last month as against 1,01,307 units in July 2020, the company said in a statement.
‘Corona Kavach, Rakshak policies loss-making products’; insurers urge regulator for re-pricing
”Given that there are such huge underwriting losses, companies have been speaking to the regulator that an increase in the premium will help (them). In life, we have already seen an increase in premiums,” said sources
FPIs pull out net Rs 6,105 cr from Indian capital mkts so far this fiscal
FPI pulled out net investments worth Rs 11,308 crore from Indian equities in July.the outflow comes after net FPI investment in June stood at Rs 17,215 crore.
”What is encouraging during the first four months is the fact that the number of new investor registrations in India is up 2.5 times year on year as per data released by the NSE,” said S Ranganathan, head of research at LKP Securities.
GOQii plans $ 75-100 mn fundraising; sees sustained interest around preventive healthcare
GOQii is into wearable-based smart-tech-enabled fitness and healthcare, and its platform brings together preventive healthcare ecosystem. The smart health ecosystem integrates tools for personalised coaching, a high-growth health e-commerce store, scheduling health check-ups, a health locker, and the ‘GOQii Cash’ programme where healthy behaviour is rewarded with cash discounts and insurance discounts based on health management data.
GOQii Smart Healthcare’s marquee list of investors include Mitsui, NEA, Megadelta, DSG Consumer Partners, Galaxy Digital, Denlow Investment Trust, Edelweiss, Cheetah Mobile, GWC, and corporate leaders like Ratan Tata, and Vijay Shekhar Sharma.
Businesses can now self-certify GST annual returns, instead of mandatory audit by CA
Under the Goods and Services Tax (GST), filing of annual return — GSTR-9/9A — for 2020-21 is mandatory for all registered businesses, barring those with an aggregate annual turnover of up to Rs 2 crore.
”This will give compliance level relief to thousands of taxpayers, however, would parallelly increase the risk of intentional and unintentional misstatements in the annual filings aggravating the departmental scrutiny,” said AMRG & Associates Senior Partner Rajat Mohan.