Union Finance Minister Nirmala Sitharaman asked banks not to be...
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DGCA issues advisory to airlines on potential rudder system risk in Boeing 737 planes
Against the backdrop of the potential risk of a jammed or...
Investors’ wealth erodes by Rs 8.9 lakh cr as Sensex tumbles for sixth straight day
Foreign Institutional Investors (FIIs) offloaded equities worth Rs...
Smokers face 40-50 pc higher risk of severe diseases, death from Covid: Vardhan
“We have set an ambitious target of reducing tobacco use by 30 per cent by 2025. Our tobacco control targets have been devised keeping in view the targets for control of non-communicable diseases and are consistent with the targets set under the SDGs. We will be soon releasing the findings of fourth round of Global Youth Tobacco Survey conducted among 13-15 year school going students,” Union Health Minister Harsh Vardhan said.
Indian court orders COVID-related audit of Renault-Nissan factory
Nissan, which owns a majority stake in the plant, denied the workers’ allegations of not adequately sticking to safety protocols, and told an Indian court it followed all guidelines
Provide price capping waiver, indemnity for Moderna’s single-dose Covid-19 vaccine: Cipla to Govt
Requesting the government to provide confirmation on four critical points — exemption from price restriction, indemnification, bridging trial waiver and basic customs duty exemption,
Cipla has said such an assurance will help make this significant financial commitment of more than USD 1 billion (over Rs 7,250 crore) advance to Moderna for its booster vaccine in India, sources privy to the development said.
India’s active COVID caseload below 20-lakh mark, 1,27,510 new cases reported
India recorded nearly 90.3 lakh Covid cases in May, by far the highest monthly count reported in any country so far. Although infections steadily declined through the second half of the month, the numbers overall were so high that the case count in May was 30% higher than the previous record of 69.4 lakh, also reported in India in the month of April.
Overall impact of second Covid wave on economy not likely to be large: CEA
Subramanian said it would be “difficult to predict exact growth number that the country may achieve as the path for pandemic still remains uncertain”.
Going forward, fiscal and monetary support will be important for economy, the CEA added.
With 1,52,734 new COVID-19 cases, India sees lowest daily rise in 50 days
With this, the total cases have reached 2,80,47,534, and the daily positivity rate stands at 9.07 per cent, which is less than 10 per cent for the seventh consecutive day. Also, the weekly positivity rate dropped to 9.04 per cent.
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.