(Lto R) Shaktikanta Das, Governor, Reserve Bank of India, Nirmala...
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Indian regulators seek to crack down on potential fraud in financial sector
While Indian banks have boosted spending on technology to detect...
Outlook for Indian economy appears bright, 7 pc GDP growth expected in FY’25: FinMin report
Talking about tailwinds for the next financial year, the report...
Covid-19 prevents Indian gen insurance industry from reaching Rs 2 trillion prm mark in 2019-20,March prm falls by 10%
The industry at Rs 15,784.66 crore of premium, has degrown by 10 per cent in March while for the whole year at Rs 1,89 lakh crore of annual premium, ithas grown by 11 per cent, the lowest in recent years.
World”s biggest lockdown may have cost Rs 7-8 lakh cr to Indian economy
All India Motor Transport Congress (AIMTC) secretary-general Naveen Gupta said the accumulated losses to truckers during the first 15 days of lockdown were about Rs 35,200 crore given an average Rs 2,200 loss to per truck per day.
“More than 90 per cent of the about one crore trucks in the country are off roads during the lockdown as truckers with only essential commodities are on the move,” he said. “Even if the lockdown is lifted, it will take at least 2 to 3 months for truckers to limp to some normal scale as we apprehend consumption of non-essential items to remain hit on the account of lack of purchasing power.”
COVID-19 death toll rises to 308, cases 9,152, Modi to address the nation at 10 am tom
Prime Minister Narendra Modi will finally be addressing the nation at 10 am on April 14, which is the last day of the 21-day lockdown.
The prime minister is also likely to announce plans to revive the Indian economy which has been badly hit by the lockdown.”Prime Minister @narendramodi will address the nation at 10 AM on 14th April 2020,” the PMO tweeted. Last month, the prime minister had addressed the nation twice — on March 19 and March 24.
Covid-19: Domestic passenger vehicle sales plunge 51% in March: SIAM
In the last fiscal (April 1, 2019- March 31, 2020), the passenger vehicle sales saw a decline of 17.82 per cent to 27,75,679 units as compared with 33,77,389 units in the previous fiscal.
Covid-19 Crisis:IRDAI asks insurers to be cautious on dividend payments,rationalise expenses and ensure solvency margin
Emphasising on prudent management of financial resources by the domestic insurers in the days of Covid-19 pandemic and ongoing lockdown in the country, the board of insurers are advised to devise strategies to ensure that they have adequate capital and resources available with them, said Pravin Kutumbe, member(Finance & Investment),IRDAI in a circular to the insurers on Monday.
Only Ayushman Yojana beneficiaries can be tested for free in pvt labs: SC
“We make it clear that the benefit of free testing by a person can be availed only when he or she is covered under any scheme like Ayushman Bharat Pradhan Mantri Jan Aarogya Yojana.We are also of the view that looking to the plight of persons belonging to economically weaker sections of the society, the Government may consider as to whether any other categories of persons belonging to economically weaker sections of the society can be extended benefit of free testing of Covid-19,” it said.
Nationwide lockdown extended till May 3:PM Modi
“There will be strict vigil till April 20.States which will not let hotspots increase, they could be allowed to let some important activities resume, but with certain conditions Relaxation may be given in safe areas post April 20,” PM Modi said.
FPIs pull out Rs 9,103 cr in April as Covid-19 triggers rush to safe havens
During this holiday-truncated week (between April 6-10), with just three trading sessions, “FPIs withdrew net assets worth $457.5 million from the Indian markets. This was significantly lower than the net outflow of $1.7 billion recorded in the previous week.”
PNB to retain stake in two life insurance ventures as Irdai gives nod
“Irdai says there is no regulation to restrict currently. So, both can continue,” PNB Managing Director S S Mallikarjuna Rao.
Govt is well prepared in case of exponential rise in Covid-19 numbers
“The total number of COVID-19 cases has risen to 8,356 and the death toll to 273. A total of 909 new cases and 34 deaths have been reported since Saturday. The good news is that 716 people have recovered and have been discharged so far. Seventy-four people have been cured since Saturday. The government is extra prepared if the number of cases rises exponentially,” he said.