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CCI restricts WhatsApp sharing data with other Meta entities, imposes $25.4 mln fine
"Sharing of user data collected on WhatsApp with other Meta...
GST Council to meet in Jaisalmer on December 21; may discuss insurance levy
The group of ministers (GoM) on health and life insurance GST last...
IFC invests USD 16.5 mn in MedGenome to increase COVID-19 testing in India
The partnership, apart from increasing the access to COVID-19 testing, will also support research to better help understand the virus, its variants and manage future outbreaks, IFC and MedGenome said in a statement on Thursday.
IFC’s USD 16.5 million equity investment will support the expansion of MedGenome’s diagnostic services as well as boost genomic data from South Asian populations, which can help provide valuable insights into complex diseases and help develop effective medical solutions for diverse populations, it added.
Consent of most shareholders needed for shutting down debt schemes: SC
The apex court’s judgement came on pleas, including the appeal filed by Franklin Templeton, against the Karnataka High Court order restraining the company from winding up its six of mutual fund (MF) schemes without obtaining the consent of its investors by a simple majority.
Policybazaar launches Employee Health Insurance
“The need for a food delivery company with 1000 delivery riders is very different from a small corporate that has tech geniuses working from home,” The one-size-fits-all approach cannot work anymore since businesses, their operations and their wallets are different and complex,” said Sarbvir Singh, CEO – Policybazaar.com.
Kotak Life and PNB MetLife declare bonus for their policyholders
Kotak Mahindra Life Insurance has announced a bonus of Rs. 591 crore to eligible participating policyholders for FY 2020-21. This is an increase of 41% over the bonus declared for FY 2019-20.
PNB MetLife India Insurance has announced a bonus of Rs 532 crores for all eligible policyholders of participating products. PNB MetLife has been consistently declaring bonus on participating products every year.
India’s COVID-19 infection rate edges up, with second wave yet to abate
“We must guard ourselves against complacency and laxity, which creep in as positivity declines,” Home Secretary Ajay Bhalla told them in a letter on Wednesday, at a time when most cities have lifted strict lockdowns.
Govt invites bids from merchant bankers, legal advisors for LIC IPO
The Department of Investment and Public Asset Management (DIPAM) would appoint up to ten merchant bankers and one legal firm for assisting and advising on the stake sale.The last date for putting in bids is August 6, as per a notice issued by DIPAM.
Last week, the Union Cabinet approved an Initial Public Offer (IPO) of LIC and the modalities such as issue size, pricing and timing would be decided by a panel headed by Finance Minister Nirmala Sitharaman.
Physical bank branches will continue to play key role in rural areas: Bankers
“Don’t believe that rural areas are backward. The penetration of the internet is 33 per cent and that of smartphones is 37 per cent in rural India,” IndusInd Bank Managing director and Chief Executive Officer Sumant Kathpalia said.
Aviation ministry issues draft rules to ensure ease of using drones in India
Civil Aviation Minister Jyotiraditya Scindia said ”Drones are bringing the next big tech revolution around the globe with reduced costs, resources and time taken for operations. It is upon us to ride on the new wave and facilitate its uptake, especially among our startups,” he said on Twitter.
No flight permission, according to the draft rules, will be required up to 400 feet in green zones and up to 200 feet in the area between 8 and 12 km from the airport perimeter.
Assam private hospitals directed no COVID-19 patient be refused admission for having health insurance
The Health and Family Welfare Department said that it has received reports of some private hospitals refusing admission to COVID-19 patients despite having medical insurance.It referred to an order by the Insurance Regulatory and Development Authority of India (IRDA) in March last year that removed all hurdles in the policies and had directed that the cases should be handled expeditiously.
Govt plans to shift public transport, logistics to clean energy source: Gadkari
”Over the last decade, India has made significant progress towards improving green energy access while increasing the integration of renewable energy…We have planned to shift public transport and logistics on 100 per cent green and clean source of energy,” he said.