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Sensex slips over 1,000 points as broad sell-off continues in Indian stocks
Analysts asserted that a strong US dollar, uncertainty in Lok Sabha...
Go Digit to open its IPO on May 15,price band in range of Rs 258-272, to raise Rs 2,615 crore
The insurer will raise Rs 2,615 crore via its IPO which includes a...
ICICI Prudential Life Insurance to raise up to Rs 1,200 crore via NCDs
“The Board of Directors has at their meeting held on October 7, 2020 approved raising capital by issuance of subordinated debt instruments in the nature of rated, listed, redeemable, unsecured, fully paid-up, non-cumulative, non-convertible debentures (NCDs) up to Rs 12 billion,” ICICI Prudential Life Insurance Company said in a regulatory filing.
Maharashtra becomes first state to regulate prices of masks during COVID-19 pandemic
According to the recommendation of the committee, the N-95 mask will be available for around Rs 19 to Rs 50 depending on the type, while the double and triple layer masks will be available for just Rs 3 to 4. The process of deciding on the price fixed by the committee is in the final stage and after the approval of the government, it will be mandatory to sell the masks at the revised rate, said an official release.
Life insurers see recovery in new premium income, subdued growth in policy sales in H1 FY 20-21
The life insurance behemoth LIC is at the verge of recovery as its new premium income, at Rs88, 018 crore, has shown a de growth of just two per cent.
Among the listed players, HDFC Life reported robust growth of 43 per cent y-o-y , followed by Max Life (16 per cent y-o-y growth), while SBI Life posted 4 per cent y-o-y-o decline. On the other hand, ICICI Prudentail Life Insurance (IPRU Life), which declined 24 per cent y-o- y continued to witness pressure.
COVID-19 cases in India cross 68-lakh mark
The total recoveries have surged to 58,27,704 while there are 9,02,425 active cases of coronavirus infection in the country which comprises 13.20 per cent of the total caseload, the data stated.
The COVID-19 case fatality rate due to the coronavirus infection has dropped to 1.54 per cent.
RIMS and Manipal Global Education Services team up to deliver risk management learning opportunities
The risk management courses will not only assist learners in gaining the valuable RIMS-CRMP certification, but also aid them in comprehending how to build a framework for overseeing risk in an organization. Post completion of the program, they will be able to create a resilient business model and design a risk strategy for businesses seamlessly. The program will also provide a platform to the learners for opportunities to build a strong network by interacting with risk management professionals globally.
IRDA panel favours setting up of Standalone Microinsurance Company with a capital of Rs 20 cr
The panel has suggested that microinsurance companies (cooperatives and mutuals as well) should be allowed to act as composite insurers to transact both life and non-life business through a single entity.
IRDAI may establish a Microinsurance Development Fund to support and promote the growth of the microinsurance business across the country.21 The fund could support human resource development, digital and financial literacy, IT infrastructure and product development.
By implementing changes to facilitate standalone microinsurance businesses with reduced capital requirement, over 500 million Indians will have the
opportunity of obtaining financial protection and security, enabling them to emerge from poverty and to move towards self-reliance. ,
Indian CEOs less confident about economic growth; 62% took pay cuts: KPMG Survey
The CEOs have already seen accelerated progress in digital transformation during the pandemic and are likely to prioritise investments in new technologies to become future-ready, and 89 per cent of them plan to invest more on technology, the survey noted.
Safety of employees, customers, and quality of loan book top priorities for new SBI chief
At a time when the Indian banking system is hamstrung by the pandemic, SBI is witnessing credit growth of around 6-7% while business is “70-80% back to pre COVID-19 levels,” for the bank, Khara said in a press briefing after taking over the reins on Wednesday.
IRDA allows portability of group health insurance schemes within the same bank
“It is hereby clarified that only the IRDAI registered insurance companies, or their authorized agents and intermediaries registered by IRDAI can sell insurance products. Individuals who avail such services from unauthorized persons or entities shall be doing so at their own risk,” said the IRDAI..
DGCA issues detailed refund guidelines after SC verdict
The Directorate General of Civil Aviation (DGCA) said the airlines should “make all endeavours” to refund the passengers belonging to the second category within 15 days.
“If on account of financial stress, any airline/airlines are not able to do so, they shall provide a credit shell equal to the amount of fare collected (to the passenger),” it added