The bench referred to the Supreme Court’s K S Puttuswamy judgment...
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Emirates NBD and Kotak Mahindra Bank cleared by RBI to bid for IDBI Bank
The Indian government, which owns 45.48% in IDBI Bank, and...
India’s Carbon Market: Regulations expected in months
"Large Indian corporations are on to this carbon market development...
Punjab National Bank to divest stake in Canara HSBC OBC Life Insurance
PNB, however, has not disclosed how much stake it will dilute in Canara HSBC OBC Life Insurance.
It is also a promoter of another insurer PNB Metlife Insurance, owning the highest stake of 30 per cent. The company was set up in 2001, in which other shareholders include US-based Metlife with 26 per cent, Elpro (21 per cent) and M Pallonji & Company (18 per cent).
The erstwhile OBC held 23 per cent stake in the life insurer, which by virtue of amalgamation has come to PNB.
Canara Bank owns 51 per cent stake, while HSBC Insurance (Asia Pacific) Holdings Ltd as a foreign partner owns 26 per cent.
IRDAI asks insurers for speedy claims settlement in areas hit by cyclones Tauktae, Yaas
The regulator further said it needs to be ensured that all claims are surveyed immediately and claim payments are disbursed at the earliest and in any case not exceeding the stipulated timeline
Covid-19 second wave hits PSBs collection in May: Indian Bank Association
Replying to a question on the impact of the second wave on collection in Equated Monthly Installment (EMI) of Home Loan, Personal loan and payment of credit card bills when compared with the first wave, R Rai said, “We have seen some substantial improvement in the month of April 21 against April 2020, but we are witnessing the impact on the collection of banks in the current month of May.”
India poised to grow at world’s fastest rate despite virus
The biggest hit from the second wave of Covid infections has been to demand, with a loss of mobility, discretionary spending and employment, the Reserve Bank of India said earlier this month.
Even as virus cases have started receding and some parts of the country may reopen by June, consumers are unlikely to spend freely, given the economic uncertainties and with unemployment at its highest level in a year.
UAE extends suspension on flights from India till June 30
”Furthermore, passengers who have transited through India in the last 14 days will not be accepted to travel from any other point to the UAE,” it said. However, ”UAE nationals, holders of UAE Golden Visas and members of diplomatic missions who comply with the revised published COVID-19 protocols will be exempt for travel,” the statement said.
Twitter has to comply with new IT rules for digital media, says Delhi HC
The Centre alleged that Twitter refused to comply with new digital rules requiring identification of the originator of a flagged message and appointing grievance redressal officers and the purported commitment of the US-based firm to India not only sounds hollow but completely self-serving.
There needs to be one price for COVID-19 vaccines across the nation,” Supreme Court questions Central govt on dual policy
“Centre says it gets vaccines at low pricing since it buys in bulk, if this is the rationale then why do states have the higher price? There needs to be one price for the vaccines across the nation. Pandemic has evolved in last two months,” the Court said.
“In this case, if the purpose is to procure vaccines then why should the centre confine itself to only post 45 age people and leave pre 45 age entirely to state for arranging logistics. How do we look at the marginalised and economically weaker ones?” asked the Apex Court.
India’s second COVID-19 wave rattles business confidence – survey
India’s earnings season for the fourth quarter ended March 31 has been a mixed bag, with only 18 of the 42 Nifty 50 companies that have reported so far beating estimates, according to Refinitiv Eikon data.
India’s economic growth picks up before huge COVID-19 wave hit
Gross domestic product grew 1.6% in January-March compared with the same period a year earlier, mainly driven by state spending and manufacturing sector growth, data from the statistics ministry showed on Monday.
Economists said the country faces a slowdown in consumer demand as household incomes and jobs have declined, with limited scope for the government to offer growth stimulus due to its rising debt.
Petitions filed in SC seeking contempt of court proceedings against the RBI Governor, others
The respondents, Reserve Bank of India (RBI) Governor, Shaktikant Das, Chief Executive of Indian Banks Association (IBA) were duty-bound to promulgate and ensure the compliance of the order of this court throughout the country but they deliberately didn’t, the petition said.
The Supreme Court’s order, dated September 3, 2020, was operational on all lending institutions/banks throughout the country and was passed in favour of all borrowers accounts to grant relief from financial stress during the COVID-19 pandemic, said the petition.