Debasish Panda,chairman, IRDAI At the recently concluded Bima...
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Neha Parikh, vice president and sector head – Financial Sector...
Govt proposes to hike in LIC’s authorised capital to Rs 25,000 cr
Currently, the paid-up capital of the life insurance company with over 29 crore policies is Rs 100 crore. Starting with an initial capital of Rs 5 crore in 1956, LIC has an asset base of Rs 31,96,214.81 crore.
The authorised share capital of LIC shall be Rs 25,000 crore divided into 2,500 crore shares of Rs 10 each, as per the amendments proposed in the Life Insurance Corporation Act, 1956.
The amendments proposed as part of Finance Bill 2021 will lead to the setting up of a board with independent directors in line with listing obligations.
According to one of the 27 proposed amendments, the central government will hold at least 75 per cent in LIC for the first five years post the IPO, and subsequently hold at least 51 per cent at all times after five years of the listing.
India records 18,327 new COVID-19 infections, active cases rise again
The 108 new fatalities include 53 from Maharashtra, 16 from Kerala, and 11 from Punjab.
The health ministry stressed that more than 70 percent of the deaths occurred due to comorbidities.
Nearly 15 lakh people were inoculated against coronavirus on March 5, the highest in a day so far, taking the total number of vaccine doses administered in the country to over 1.94 crores, official sources said on Saturday.
Pandemic fatigue, absence of fear of disease leading to spike in cases in Maharashtra: Centre
”Don’t let the guard down. Stay to basics of surveillance, contact tracing and testing. Micro plan and ensure strict compliance of protocols. Strengthen teams to ensure meticulous home quarantine, do focused testing of 100 per cent population in hotspot areas repeated at five days, and isolate positives to check spread,” it said.
Govt open to evaluate, explore cryptocurrencies, says Thakur
A High-Level Inter-Ministerial Committee (IMC) was constituted under the Chairmanship of Economic Affairs Secretary on digital currencies and it has submitted its report.
The government would take a decision on the recommendations of the IMC and the legislative proposal, if any, would be introduced in Parliament following the due process, he said while inviting suggestions and views on this issue.
COVID-19: India records 18,711 new cases, highest in nearly 2 months
The active cases registered an increase for the fifth consecutive day and the COVID-19 active caseload increased to 1,84,523 which now comprises 1.65 per cent of the total infections.
ICICI, HDFC, SBI will have to offload Rs 1.2 lakh cr if RBI caps stake in insurance arms: Report
HDFC owns 50 per cent in HDFC Life and bringing it down to 20 per cent would mean offloading equity worth Rs 44,100 crore at today”s market value, while in case of ICICI Prudential Life which is 51 per cent owned by the bank, it will be Rs 22,100 crore worth of shares flowing into the market, and Rs 21,700 crore worth of shares from ICICI Lombard in which the bank owns 52 per cent. SBI which owns 55 per cent in SBI Life will have to sell shares worth Rs 32,200 crore.
Examine measures in pending legislation for regulation of online health service aggregators: HC to Delhi govt
“Besides, these online aggregators are not accredited by any accreditation agency. The existence of such illegal online diagnostic aggregators are posing serious health challenges as a large number of people are falling prey to the attractive health packages being offered by these illegal online aggregators,” read the plea.
Over 1.8 crore COVID-19 vaccine doses administered in India: Centre
Six sates, Maharashtra, Punjab, Haryana, Gujarat, MP and Delhi, have reported high daily new cases in a span of 24 hours, the ministry said underlining 84.44 per cent of the new cases reported in a span of 24 hours (16,838) are from these six states.
Economic survey report: Maha vehicle population now 3.86 cr
In 2020, there were 19,552 road accidents, including 1,369 in Mumbai, and 8,747 were killed and 15,529 injured, of which 223 deaths and 1369 injuries occurred in the metropolis, the report informed.
Govt makes airbag mandatory for front passenger seat in vehicles
“Ministry has issued Gazette notification regarding mandatory provision of an airbag for passenger seated on front seat of a vehicle, next to driver. This has been mandated as an important safety feature & is also based on suggestions of Supreme Court Committee on Road Safety,” it said.