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EPFO evaluating course of action over HC ruling on foreign workers
India presently has social security agreements with 21 countries....
IRDAI slaps Rs 1 cr fine on Prem Watsa promoted Digit Insurance for violating shareholding norms
``It is observed that there has been an inordinate delay in filing...
LIC’s prm income from P&G schemes crosses Rs 1 trillion in 10 months
This is first time ever any single vertical of the life insurance behemoth has crossed such a gigantic premium income figure successively for two years.
Pension and Group Schemes Vertical of LIC provides employees retiral funds’ management solution to the who’s who of India Inc and has been steadily holding around 80 per cent market share in new business premium post opening of the life insurance industry.
RBI appoints firm to audit HDFC Bank’s IT infra in view of service outages
“RBI has issued an order dated December 2, 2020, to HDFC Bank Ltd with regard to certain incidents of outages in the internet banking/ mobile banking/ payment utilities of the bank over the past two years, including the recent outages in the bank’s internet banking and payment system on November 21, 2020, due to a power failure in the primary data centre,” HDFC Bank had said in a regulatory filing.
India’s more relaxed rules on investment in insurers set to attract U.S., European players
A lawyer said several insurers from Asia have also shown interest in ramping up Indian investments, and started seeking more details about Monday’s proposal hours after it was announced.
In a statement to Reuters, lobby group U.S.-India Business Council (USIBC), part of the U.S. Chamber of Commerce, said New Delhi’s decision will help American insurance companies enhance financial inclusion in India.
LIC IPO post Oct;BPCL, Air India stake sale by SeptDIPAM Secy
“LIC Amendment Act and Amendment to IDBI Bank (Transfer of Undertaking and Repeal) Act has been made part of the Finance Bill. There will be no separate bill. LIC IPO would come post-October,” Pandey said.
Sensex, Nifty close at record highs on gains in financial, infrastructure stocks
The benchmark index breached the 50,000-mark earlier in the session, surging as much as 3.2% to 50,154.48.
In its budget on Monday, India boosted healthcare spending by 135%, lifted caps on foreign investment in its vast insurance market, and increased capital expenditure for 2021/2022 by 35%.
NHAI to fine up to Rs 10 cr for major lapses in structures
“In order to deal with the lapses in highway development, NHAI has issued a strict policy to decide penal action against defaulting firms/ personnel if there are any lapses in construction standards of bridges/ structures/approaches to structure etc by the Concessionaires/ Contractors / Consultants,” NHAI said in a statement.
No violation of data privacy under National Digital Health Mission, Rajya Sabha told
Providing the current status of roll out of health id under NDHM, Minister of State for Health Ashwini Choubey said the pilot phase of the mission is active in the Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, Ladakh, Lakshadweep and Puducherry.
As on January 21, as many as 6,30,478 Health IDs have been generated. The selection of vendors for NDHM is compliant with various applicable rules and policies of the government, he said.
IIFCL may be subsumed into new DFI: DFS Secretary
The Union Budget 2021-22 presented in Parliament on Monday proposed setting up a Development Finance Institution (DFI) with an initial capital of Rs 20,000 crore to mobilise Rs 111 lakh crore required for funding the ambitious National Infrastructure Pipeline (NIP).
National Bank for Financing Infrastructure and Development (NaBFID), the proposed DFI, will anchor the very ambitious NIP, he said.
About 7,000 projects have been identified under the NIP with projected investment of a whopping Rs 111 lakh crore during 2020-25.
India showing a declining trend of Covid-19 cases since last four months, says government
The government’s strategy of focusing on testing, contact tracing, isolation and quarantine-containment is the fundamental approach for managing infectious disease outbreaks of epidemic or pandemic in nature, Minister of State for Health Ashwini Choubey said, adding that the strategy has been recommended globally and by the World Health Organisation for suppressing transmission or breaking the cycle of transmission of Covid-19.
Union Budget 2021-22:Sitharaman announces FDI limit hike from 49 % to 74 % in Indian insurance sector, one PSU general insurer will be privatised
Outlining some features of a company with FDI of 74 per cent, Sitharaman said in such insurance companies, 50 per cent of board will be independent directs, and all key person will be Indians.
The management control will be lying with the majority shareholders..
Sitharaman also announced government’s intention to privitise one of the state owned insurance companies and listing of the Life Insurance Corporation.
The government will launch a new federal health scheme with an outlay of around 641 billion Indian rupees ($8.80 billion) over the next six years,