Although the company’s five-year average combined ratio was 104.8%,...
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LIC pays Rs 2,441 crore as an interim dividend to government
From (Lto R), Siddhartha Mohanty, chairperson handing over a cheque...
ICICI Bank buys 25 lakh shares to make ICICI Lombard Gen Insurance subsidiary co
The move follows a May 2023 resolution by the bank's board to...
Reviving Economy:$40 billion credit line for small businesses,due date for all I-T returns for 2019-20 extended to Nov 30,2020
A liquidity relief is being given for all EPF establishments. Government support in the form of 12% employer and 12% employee contribution extended for another three months (June, July and August).Government has reduced statutory EPF contribution of private sector employers and employees from current mandated 12% to 10% for next 3 months. However, for government PSUs it will remain 12% but PSU employees can pay 10%. This was one of the measures announced by the finance minister Nirmala Sitharaman at a press conference today. This will reduce the total contribution to an employee’s EPF corpus.
Life insurance business in India to contract in 2020 due to COVID-19, says GlobalData
GlobalData has revised India’s insurance forecast in the aftermath of the global coronavirus (COVID-19) outbreak. As per the latest data, India’s life insurance market is forecasted to grow at a compound annual growth rate (CAGR) of 5.3% during the forecast period 2019-2023.
PM Modi to address the nation at 8 PM today
Today is the forty-ninth day of India’s nationwide lockdown, which is meant to stop the novel coronavirus pandemic. Known COVID-19 cases in India stand at 70,756. The death toll in India due to the outbreak has reached 2,293. Maharashtra, Gujarat, Tamil Nadu and Delhi have reported the highest number of cases.
Post-lockdown flights:Aarogya Setu app must,no cabin baggage initially
The Indian Railways, which had on Monday “advised” the passengers availing the special trains that started operating on Tuesday to install the government’s Aarogya Setu mobile application, has now made it “mandatory” to do so.
Covid-19 Pandemic:PM Modi raises stimulus size to Rs 20lakh cr,modified lockdown from May 18
The package will spur business, attract investment and strengthen our Make in India Mission, reiterated Modi. The package is equivalent to 10 per cent of India’s GDP, stated Modi. The Special economic package will have emphasis on land, labour, liquidity
Covid-19 Pandemic:IRDA further extends grace period for paying life premium till May 30
All policy holders are requested to note that the objective of grace period allowed is to pay all the premiums due within that period so as to keep the policy coverage in force, said IRDAI..
Covid-19 Pandemic:Life insurers’ lose 33% of their new prm income, 63% of policy sales in Apr FY 2020-21
According to an analysis by Kotak Institutional Equities, “Private life insurance players reported 40 per cent yoy decline in individual APE in April 2020 despite the lockdown during the entire month, which is better than our expectations of about 90-95 per cent decline. Demand for protection policies and spillover from year-end pipeline were the likely drivers.’’
India’s automakers warn of up to 45% sales drop as economy slumps amid pandemic
During the meeting, auto industry executives sought tax cuts, a one-year delay in implementing certain safety and fuel efficiency regulations, and loans at low interest rates to help the sector revive production and prevent layoffs until sales and revenues pick up.
Warehousing demand in 8 major cities drops 29% in Jan-Mar, new supply down 14%: Report
Property consultant JLL India expects limited leasing activities during the second quarter of 2020 calendar year. New supply will also get deferred because of the lockdown to control the spread of COVID-19.
However, it said that “there can be gradual revival in the demand post lockdown as leases and active requests for proposals (RFPs) that were in various stages of closure may be executed.”
India to restart some passenger trains even though coronavirus infections jump
According to the health ministry data updated in the morning, the highest number of confirmed cases in the country is from Maharashtra at 22,171 followed by Gujarat at 8,194, Tamil Nadu at 7,204, Delhi at 6,923, Rajasthan at 3,814, Madhya Pradesh at 3,614 and Uttar Pradesh at 3,467.