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Govt forms VK Paul panel to review Ayushman Bharat scheme
The National Health Authority(NHA), implementing agency of the...
Govt designates I4C as agency of MHA to notify unlawful activities in cyber world
The I4C was set up by the MHA to provide a framework and eco-system...
Indian economy in deep trouble; growth may contract 5% this year:S&P
One risk now looming larger is yet another “balance sheet recession” in which at least one important sector of the economy — the government, firms, or households — tries to bolster its weak financial position by saving more, paying down debt,and spending less, S&P said.
Monsoon covers all India earlier than usual, brightens crop prospects
The farm sector employs more than half of the country’s 1.3 billion population and accounts for nearly 15% of India’s $2.9 trillion economy.
International passenger flights remain suspended till July 15: Government
However, the restriction will not be applicable to cargo operations and flights specially approved by the DGCA.
Further, international scheduled flights may be allowed by competent authority on selected routes on case to case basis.
IRDA finalises short-term standard Covid-19 policies,asks insurers to launch them by July 10
To be mandatorily termed as “Corona Rakshak Policy’’ it has been made mandatory for all the general insurers and exclusive health insurers, while life insurers have been encouraged to launch such products(benefit based) .
The benefit based policies, to be launched by a life insurers, will have a minimum sum insured of Rs50,000 and a maximum limit of Rs.2,50,000 (in the multiples of fifty thousand).For the standard covid indemnity policies, to be launched by the domestic general insurers and exclusive health insurers, the maximum sum assured can be Rs 5 Lakh (in the multiples of fifty thousand)
Both COVID Standard benefit based health policy and indemnity based health policies should be offered with a policy term of three and half months (3 ½ months), six and half months (6 ½ months) and nine and half months (9 ½ months) i.e,105 days,195 days and 285 days respectively, clarified IRDA..
Federal Bank to buy additional 4% stake in life insurance JV from IDBI Bank for over Rs 80 crore
Federal Bank will be purchasing 4 per cent, while their Dutch partner Ageas Insurance International NV will be buying 23 per cent to take its ownership to 49 per cent, the maximum permissible for a foreign partner in a life insurance venture
Apple,other U.S. goods from China held up at Indian ports: sources
The U.S.-India Strategic Partnership Forum (USISPF), a lobby group representing U.S. firms, told India’s commerce ministry in a letter dated June 23 that lack of clarity and delays could disrupt business and manufacturing operations.
IRDAI forms panel to suggest ways to insure drone technology
Among other issues,the committee will make recommendations relating to design and development of product/s meeting the needs of RPAS owners and operators, including Third Party Liability,make recommendations relating to underwriting of such risks including the re-insurance perspective and examine any other relevant matter relating to the subject.
IRDAI asks insurance industry to guard against large-scale phishing attack campaign against Indian individuals and businesses
Any unusual activity or attack should be reported immediately to cert-in at incident@cert-in.org.inin the format prescribed by Cert-In (https://www.cert-in.org.in/PDF/certinirform.pdf)under intimation to IRDAI at infosec@irdai.gov.in.
The IRDAI has further said it has been brought to the notice of the authority that a website using domain name- www.irdaionline.org.in is advertising to the general public on sale of insurance and exams conducted by IRDAI. This domain name is not authorized by the authority.
Railways cancels all regular train services till August 12
However, all special trains — 12 pairs running on the Rajdhani routes since May 12 and 100 pairs operating since June 1 — will continue, they said.
GIC Re’s net profit almost doubles to Rs 1197 crore in Q4 FY 2019-20,Annual gross prm exceeds Rs 51k in 2019-20
Devesh Srivastava, CMD, GIC C Re, said, “GIC Re has maintained its market standing in both domestic and foreign businesses. However, fiscal 2020 has seen the Insurance Industry register severe claims World-wide as well as in India. The explosion of the Covid-19 Pandemic has further aggravated the situation leading to an impact on the financial markets and the economy in general.”
He added that the highlight, however, has been a strong performance in the fourth quarter with a profit after tax of Rs. 1,197 crore which has offset a large proportion of the losses incurred in the three quarters of the year 2019-20.