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IRDAI mandates Cross Boarder Reinsurers(CBRs) to furnish collaterals for accessing Indian business from Fy 25-26
IRDAI has clarified that premium retroceded by the branches of...
Sensex-Nifty mark record highs on expectation of Modi 3.0,investors richer by Rs 12.48 lakh crore
The Sensex surged by 1859.88 points, opening at a record 75,821.19....
SII to seek emergency-use authorisation of COVID-19 vaccine in 2-weeks:Poonawalla
“The vaccine will be distributed initially in India, and then we will look at the COVAX countries, mainly in Africa. The UK and European markets are being taken care of by AstraZeneca and Oxford. Our priority is India and COVAX countries,” he said, adding they can do under-18 trails after a few months.
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Apr-Sep FDI inflow climbs 15% to Rs 2.2 trillion; Mauritius was top source
Among the sectors, services sector continued to lead with the highest amount of FDI coming in. The sector which includes financial, banking, insurance, outsourcing, R&D among others, received 17 per cent of the FDI equity inflow during the period under review.
According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), Mauritius and Singapore were the biggest sources of FDI for India with 29 per cent and 21 per cent contribution respectively.
The US, Netherlands and Japan followed with 7 per cent contribution each.
Govt”s ethanol push prompts sugar mills to raise production
Recently, the Union government had decided to allow use of old stock of wheat and rice for ethanol production that can be blended with petrol and diesel
Fiscal deficit at 120 pc of annual target at October-end
The deficit widened mainly on account of poor revenue realisation. The lockdown imposed to curb spreading of coronavirus infections had significantly impacted business activities and in turn contributed to sluggish revenue realisation.
The fiscal deficit at the end of September 2020 was about 114.8 per cent of the annual budget estimate.
Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now
LVB has 566 branches and 973 ATMs spread across 19 states and Union Territories.
It is the second private sector bank after Yes Bank that has run into rough weather this year.
In March, capital-starved Yes Bank was placed under a moratorium. The government rescued Yes Bank by asking State Bank of India (SBI) to infuse Rs 7,250 crore and take 45 per cent stake in the lender.
New Delhi ambulance group grapples with surging COVID-19 quarantine deaths
Currently more than 23,000 people are recovering at home in Delhi, which has been recording a total of around 100 deaths a day this month and more than 5,000 infections.
“Corona has gone out of control in Delhi,” said Shunty, who founded the non-governmental organisation more than 25 years ago. It runs 16 ambulances, almost all of them working overtime these days.
“Too many deaths are happening, especially among the old and people with other complications.”
Five COVID-19 patients killed in Gujarat hospital fire
The early morning blaze in Rajkot city in Gujarat gutted the intensive care unit (ICU) of the private hospital, television footage showed. The most likely cause was an electrical short circuit, said government official Udit Agarwal.
The latest fire angered India’s top court, which asked both the federal and state governments to submit a detailed reply on recurring fires in COVID-19 hospitals.
Pharma firm in India to make Russia’s Sputnik V COVID-19 vaccine
Kirill Dmitriev, RDIF head, said earlier this week that Moscow and its foreign partners had the capacity to make more than a billion doses of Sputnik V starting from next year — enough to vaccinate over 500 million people — and that it would cost under $20 per person on international markets.
Modi sees $20 billion annual investment in green energy sector
“Demand for energy in India will keep growing. There are huge renewable energy deployment plans for the next decade,” Modi told the third global RE-Invest conference.
India’s green energy capacity, which encompasses solar, wind, bio-power, and small and large hydropower, is currently at 136 GW. That is expected to increase to 220 GW by 2022, Modi said.
Delhi govt advertises for 60 environmental scientists
“Delhi cannot build a wall to prevent polluted air coming from its surrounding states, but it has to check its own sources of pollution – be it dust, illegal industries, polluting factories, polluting vehicles or waste and biomass burning,” said Vimlendu Jha, founder of environment group Swechha.