In an order signed by two members, BC Patnaik, Life and RK Sinha,...
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RCap lenders urge Hinduja Group arm to resolve IRDAI’s concerns early
According to the sources, the lenders expressed concerns over the...
Cholamandalam General Insurance reports a PBT of Rs 444 crore in FY 24
V. Suryanarayanan, MD&CEO, Cholamandalam General Insurance The...
RBI chief says India’s recovery not entrenched, will only be gradual
“High frequency indicators of agricultural activity, the purchasing managers index and certain private estimates on unemployment point to some stabilisation of economic activity in the second quarter of the current year,” Das told members of the Federation of Indian Chambers of Commerce & Industry’s national executive committee.
Some Indian hospitals scramble for oxygen as coronavirus cases top 5 million
At least 6% of India’s nearly 1 million active cases need oxygen support, health ministry official Rajesh Bhushan told reporters. Supplies were adequate but state governments should monitor usage and flag shortages, he said.
“The problem happens when at a facility level, if there is no inventory management. Every state should ensure this,” Bhushan said.
Despite market volatility, LIC made Rs 13k cr profit in equity till Aug: MD
“The insurance industry had lost about Rs 45,000 crore in new and renewable premiums in the last fortnight of FY20 due to the Covid-19 pandemic. However, we have recovered well since unlocking and registered healthy growth,” LICI Managing Director Raj Kumar said at a webinar organised by Merchants’ Chamber of Commerce and Industry.
He further said, “The market now has recovered by 32 per cent from the March lows. LIC has booked a profit of Rs 13,000 crore from equity operation and is still a net investor of Rs 28,000 crore in the market.”
Airlines in India seek $1.5 bn in interest-free credit line, says govt
The government is engaged with aircraft lessors and financiers to ensure there is no premature withdrawal of planes, Civil Aviation Minister Hardeep Singh Puri said. Local traffic has slumped almost 80 per cent to just 12 million passengers in the five months to July 31, eroding airline revenues, he said.
Close to 3 million jobs in aviation and related industries as well as more than $11 billion in revenue could be lost in India this year because of the pandemic according to the International Air Transport Association.
Nifty50 ETFs’ assets base crosses Rs 1 trn, asset under management Rs 2 trn
“We are encouraged by the investors’ continued confidence demonstrated through their participation in ETFs linked to Nifty 50 and other Nifty Indices…NSE will continue to actively promote ETFs to retail investors through multiple channels,” NSE Managing Director and Chief Executive Officer Vikram Limaye said.
Centre approved anti-viral medicines to treat COVID-19 patients, says SC
The top court was hearing a plea seeking registration of an FIR by the CBI against ten Indian pharmaceutical firms for manufacturing and selling these two medicines for treating COVID-19 patients allegedly without valid licences.
A bench comprising Chief Justice S A Bobde and Justices A S Bopanna and V Ramasubramanian referred to the New Drugs and Clinical Trials Rules, 2018 and said these medicines have been permitted by the government for using in treatment of novel coronavirus patients.
India’s coronavirus cases jump by daily record of 97,894
The COVID-19 case fatality rate due to the coronavirus infection was recorded at 1.63 per cent.
There are 10,09,976 active cases of COVID-19 in the country which comprises 19.73 per cent of the total caseload, the data stated.
With 5.12 million cases in all, India is the world’s second-worst affected country, and trails only the United States, which has a caseload of around 6.6 million
COVID-19 tally in India crosses 50-lakh mark
The COVID-19 case fatality rate due to the coronavirus infection further dropped at 1.63 per cent.
There are 9,95,933 active cases of COVID-19 in the country which comprises 19.84 per cent of the total caseload, the data stated.
According to the ICMR, a cumulative total of 5,94,29,115 samples have been tested up to September 15 with 11,16,842 samples being tested on Tuesday.
Parliament passes bill to give statutory status to aviation regulators
The Bill also proposes to increase the fine amount for violations of new rules from Rs 10 lakh to Rs 1 crore.
Forecasts of heavy rains raise fear for summer crops in India
Spurred by monsoon rains, which deliver about 70% of India’s annual rainfall, farmers have planted a record acreage with summer crops such as rice, corn, cotton, soybeans and sugarcane.
But heavy rains could cause extensive damage later this month when the crops ripen.