According to an office memorandum dated November 26, 2024, it is...
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DFS secy asks 4 PSU general insurers to bring down their underwriting losses and guard market share
M Nagaraju, after becoming the DFS secretary, held his first review...
HC seeks Delhi govt’s stand on PIL to implement AB-PMJAY in city
A bench of Chief Justice Manmohan and Justice Tushar Rao Gedela...
Govt’s net tax collection rises 86% to Rs 5.57 trillion in first quarter
Besides, undisclosed income of about Rs 8,465 crore has been brought to tax and a penalty of Rs 1,294 crore has been levied in HSBC cases. Undisclosed income of about Rs 11,010 crore has been detected in ICIJ (International Consortium of Investigative Journalists) cases.
Global insurance recovery will be faster, stronger than in 2008: Swiss Re
Writing new policies was more difficult in 2009 and 2010 when insurers were reeling from capital losses, slow economic growth and depleted incomes of companies and individuals.
In contrast, businesses and individuals now have more money from government stimulus and support programs, and are more conscious of the need to buy protection against risks, he added.
India urges G20 countries to fulfill emission targets
The Indian delegation in the G 20 meeting said that India has already achieved an emission reduction of 28 per cent over 2005 levels and is all set to exceed its NDC(Nationally Determined Contributions (NDC)) commitments before 2030, the press release further stated
India has achieved 38.5 per cent installed capacity from renewables, said the Indian delegation.
Ageas Federal Life Insurance expects 35-40pc premium growth in FY22
With the government allowing up to 74 per cent foreign direct investment in the insurance sector, he said: ”Now FDI limit being hiked to 74 per cent, we have to wait and see if Ageas will pick up the other 25 per cent (from IDBI Bank). The sentiment is pretty positive, but we will have to see.” However, there has been no impact on the business, he added.
IPOs will drive startup revolution in India, says Amitabh Kant
In a large and diverse country like India, the ability to rapidly execute and scale up programmes to reach 1.3 billion citizens, in vernacular languages, is important, Kant noted.
“Startups should leverage technology for social good. The pandemic has provided an opportunity for this,” he said.
Companies struggling to manage reporting on climate risks, says report
”Companies based in India presented 28 per cent on quality disclosure and 49 per cent coverage. Only 3 per cent of global companies reviewed meet the highest levels of quality and the average quality score is 42 per cent,” EY said in a release on Sunday.
Among others, the number of Indian companies responding to disclosure platforms such as carbon disclosure project is on the rise. In the coming year, greater Task Force on Climate-related Financial Disclosures reporting is expected, driven by pressure from financiers, investors and customers, it added.
Cases of `Kappa’ variant of coronavirus found in Gujarat
Kappa is a ”variant of interest” but not a ”variant of concern” as per the Indian Council of Medical Research (ICMR), the release said.
HDFC Bank’s Puri top earner among bankers in FY21; ICICI Bank’s Bakhshi forgoes salary in COVID year
Puri’s overall payments included Rs 3.5 crore as post-retirement benefits. Its immediate rival ICICI Bank’s MD and CEO Sandeep Bakhshi ”voluntarily relinquished” his fixed compensation of basic and supplementary allowances for FY21, which had seen the wide-scale impact of the COVID pandemic, as per the second-largest lender’s annual report.
IFC lends USD 250 mn to HDFC to promote affordable green housing finance
Green and energy-efficient housing can help cut emissions, as residential housing accounts for about 24 percent of the nation’s electricity consumption, IFC said.
”Green housing is largely regarded as a luxury market in the country, but given its climate benefits, IFC intends to challenge that perception and help boost green affordable housing by partnering with HDFC, with its deep penetration in the Indian housing market and significant commitment to promoting green,” IFC said.
About 90% consumers in India willing to pay a premium for buying EV: Survey
According to the survey, the top reason for buying an EV is environmental concern, with 97 per cent also stating that the COVID-19 pandemic has heightened awareness and concerns about environmental issues. About 67per cent of those looking to buy an EV feel it is their responsibility to reduce their personal environmental impact, and 69 per cent feel buying an EV is one way to achieve this goal.