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Top 100 firms must verify market rumours within 24 hrs starting today
Under the Sebi's rule, these companies will have to 'confirm, deny,...
Govt shortlists 5 candidates for member, Non-Life, IRDAI, interview on June10
Five candidates are Rejeshwri Singh, CMD, National Insurance...
Vehicle scrapping policy will be ‘win-win’ policy; to help reduce pollution: Nitin Gadkari
Making a statement regarding vehicle scrapping policy in the Lok Sabha, the Road Transport, Highways and MSMEs Minister said the policy will also lead to an increase in the country’s automobile industry turnover to Rs 10 lakh crore from the current Rs 4.5 lakh crore.
Hospitalisation due to any adverse reactions to Covid-19 vaccination covered under health policies:IRDAI
“There have been reports raising doubts whether any adverse reactions to Covid-19 vaccination that require hospitalization will be covered by the health insurance policies.It is clarified that in the unlikely event of hospitalization following adverse reaction to covid-19 vaccination, hospitalization is covered under the health insurance policies subject to the specific terms and conditions of the policy.” said IRDA in a press release.
LIC offers major facilities for maturity claim payments to its policyholders
LIC has allowed its 113 divisional offices, 2048 branches, 1526 satellite offices and 74 customer zones to receive maturity claims documents from policyholders whose maturity payments are due, irrespective of the servicing branch of the policy.
Rajya Sabha passes bill to raise FDI in insurance to 74%
“Majority of directors in the board and key management persons to be resident Indians which means every law of the land will be applicable on them. And a specific percentage of the profits is to be retained as general reserves. It cannot be (taken away),” Sitharaman said
India received FDI worth Rs 26,000 crore in the insurance sector after 2015 when the foreign investment limit was raised to 49 per cent from 24 per cent.
Pandemic pushes 32 million Indians out of middle class, says Pew Research
“India is estimated to have seen a greater decrease in the middle class and a much sharper rise in poverty than China in the COVID-19 downturn,” the Pew Research Centre said, citing the World Bank’s forecasts of economic growth.
Nearly 57 million people had joined the middle income group between 2011 and 2019, it added.
Nearly 40k coronavirus cases in India: Govt
The daily rise in infections (39,726) was the highest recorded in 110 days, while the death toll increased to 1,59,370 with 154 daily new fatalities, the data updated at 8 am showed.
7.8 mn domestic air passengers in Feb, 36.71% lower than last year: DGCA
The occupancy rate or load factor of the six major Indian airlines was between 67.9 per cent and 78.9 per cent in February, it stated.
“The passenger load factor in the month of Feb 2021 has shown increasing trend compared to previous month primarily due to beginning of tourist season,” the DGCA said.
Magma Fincorp to sell stake in insurance venture Magma HDI in Rs 525-cr deal
Following the latest Rs 525 crore-transaction, the Poonawalla Group will become the main promoter with around 30 per cent direct and indirect stake in Magma HDI while HDI will be the single largest shareholder with 17.1 per cent stake. HDI’s remaining stake will be offloaded through a secondary sale.
ICICI Venture will become the third largest shareholder with 16.7 per cent in Magma HDI.
With 28,903 new cases, India records highest daily spike this year
The death toll increased to 1,59,044 with 188 new fatalities, the highest in around two months, the Union Health Ministry data showed.The health ministry stressed that more than 70 per cent of the deaths occurred due to comorbidities.
Subscribers under NPS, APY schemes rise 22 pc to 4.15 crore at Feb-end
As of February 28, 2021, total pension assets under management stood at Rs 5,59,594 crore, showing a year-on-year growth of 33.09 per cent, PFRDA said.