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India’s economy exits from recession, recovery seen gathering pace
Gross domestic product grew 0.4% in October-December compared with the same period a year earlier, data released by the National Statistics Office on Friday showed. That compared with revised contractions of 7.3% in July-September and 24.4% in April-June.
Investment recorded its first growth since December 2019, growing at 2.6% compared to a revised 6.8% fall in the previous quarter, while weakness in consumer demand eased.
Indian Insurance industry has recovered, pays Rs 9,000 crore Covid-19 pandemic claims :IRDAI Chief
While stressing the importance of Customer Data privacy, Khuntia added that the usage of data beyond a point of granularity should be avoided and insurers should not deny a coverage to the people on the ground, which is not under the control of the customers.
He was addressing a seminar on the theme of “Navigating Uncertainty: Insight-Driven Innovation “ organized by National Insurance Academy, in association with Swiss Re, on Friday.
Huge potential of pvt investment in 400 maritime projects worth Rs 2.24 lakh cr: Govt
”These projects will provide investment opportunities across 11 maritime sectors including port infrastructure development, inland waterways transport and coastal shipping, hinterland connectivity and multi-modal logistics,” Secretary, MoPSW, Sanjeev Ranjan said on Friday.
DGCA extends suspension of int”l commercial passenger flights till Mar 31
However, international scheduled flights may be allowed on select routes by the competent authority on case-to-case basis, it said.
The restriction will not apply to cargo flights and flights specifically approved by DGCA, the circular added.
India records 16,488 new COVID-19 cases, 113 deaths
The active case count has further increased to 1,59,590, which comprises 1.44 per cent of the total infections, the data stated.For the first time, a coronavirus-linked death has been reported in Lakshadweep. The Health Ministry stressed that more than 70 per cent of the deaths were caused due to comorbidities.
The nationwide Covid-19 vaccination to healthcare workers and frontline workers crossed 1.34 crores coverage on Friday, informed the Ministry of Health and Family Welfare.
India reports 16,738 new coronavirus cases; highest since January 29
More than half came from the western state of Maharashtra, India’s richest and home to its financial capital of Mumbai, which reported a record high of 8,807 cases on Wednesday.
IRDA allows dividend payment by insurers to their shareholders
However, insurers are requested to take a conscious call in the matter of declaring dividends for FY 2020-21 considering their capital, solvency and liquidity positions, said Pravin Kutumbe, member, Pravin Kutumbe, Member (F&I) IRDAI.
India tightens regulatory grip on Facebook, WhatsApp with new rules
India is the largest market by user numbers for both Facebook and WhatsApp.
The new rules issued by the government, called the Intermediary Guidelines and Digital Media Ethics Code, will be legally enforceable.
They will require big social media companies to set up a grievance redressal mechanism and within three months appoint new executives to coordinate with law enforcement.
India plans new social media controls after Twitter face-off
The latest draft rules – which would be legally enforcable -say companies should remove content as early as possible, but not later than 36 hours, after a government or legal order.
They must also assist in investigations or other cyber security-related incidents within 72 hours of a request. Further, if a post depicts an individual in any sexual act or conduct, then companies must disable or remove such content within a day of receiving a complaint, the rules added.
Indian traders face ‘absolute havoc’ as bourse suffers four-hour outage
At 11:40 a.m., the NSE shut down completely for trading, leaving traders wondering what would happen to their open positions.
The incident occurred just ahead of the monthly derivatives expiry on the last Thursday of the month, when traders close or roll over their open positions.
“This was an unmitigated disaster because you need to communicate this proactively. Not one person in the market knew they would shut down the exchange,” Varun Khandelwal, director at Bullero Capital, a New Delhi-based proprietary trading firm.