According to an office memorandum dated November 26, 2024, it is...
Category:
Life
Latest
HDFC Life launches probe after customer data shared with “mala fide” intent
The company, in its statement, did not elaborate if the source had...
Bandhan Life expands its strategic partnership with Bandhan Bank into Northern India
Bandhan Life has announced the expansion of its strategic...
Govt mulls permitting foreign investment in LIC
The proposal is under discussion between the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM).
According to the current FDI policy, 74 per cent foreign investment is permitted under the automatic route in the insurance sector.
However, these rules do not apply to the Life Insurance Corporation of India (LIC), which is administered through a separate LIC Act.
16 merchant bankers in race for managing LIC IPO
Seven international bankers, including BNP Paribas, Citigroup Global Markets India and DSP Merrill Lynch Ltd (now known as BofA Securities), will make presentations on Tuesday, as per a circular by DIPAM.
Other bankers that will be making presentations on Tuesday are — Goldman Sachs (India) Securities, HSBC Securities and Capital Markets (India), JP Morgan India, Nomura Financial Advisory and Securities (India).
Modernising Fraud Risk Management: a must for Insurers in Pandemic
Equipped with subject matter expertise, technology, insight, connections, and money, these fraudsters are running mini organized crime empires across the country. With help from insiders, they have mapped the insurers to understand their SOPs, priorities, approach and risk appetite.
Indian insurance companies have also learned and devised effective fraud risk mitigation techniques aimed at controlling these leakages. They have invested in technology and embraced analytics in their fight against fraud.
LIC launches campaign for policyholders to revive lapsed policies
The campaign has been launched from August 23, 2021 to October 22, 2021, the release said. Policies which are in a lapsed condition during the premium paying term and not completed policy term are eligible to be revived in this campaign, it said.
Post LIC IPO, 60 pc of insurance biz to be with listed entities: FinMin official
The insurance sector, over the two decades since the introduction of competition and regulation, has matured with 69 insurers today as against only eight in 2000. ‘A majority of these have crossed their initial breakeven phase. Once the proposed listing of LIC happens, about 60 per cent of the insurance industry business would be with listed entities. The sector as a whole has been growing at a pace significantly higher than that of the overall economy, additional secretary in the finance ministry Amit Agarwal said
FDI proposal for bank-promoted insurance firm to be vetted by RBI, Irdai: Govt notification
”Applications for foreign direct investment in private banks having joint venture or subsidiary in insurance sector may be addressed to the Reserve Bank for consideration in consultation with the Insurance Regulatory and Development Authority of India (IRDAI), in order to ensure that the limit of foreign investment applicable for the insurance sector as specified in serial number F. 8.1 and F. 8.2 is not breached,” the notification said.
LIC, EPFO keen to set up fund for startups: DPIIT Official
Additional Secretary in the Department for Promotion for Industry and Internal Trade (DPIIT) Anil Agrawal said it was decided that a portal will be developed by the Small Industries Development Bank of India (SIDBI) for funding purposes of startups.
These issues came up in the meeting of the National Startup Advisory Council. Agrawal said several initiatives are underway to strengthen the startup ecosystem in the country.
Covid-19: Economic slowdown, job insecurity and fear of debt drive low confidence among people, says HDFC Life Report
41% respondents have availed a life insurance policy post the first wave that enabled them to plan better for the second wave and the impact of COVID-19 is more severe across metros in comparison to Tier 1 and Tier 2 cities, said the report.
India records 36,083 new Covid cases, 493 deaths
A total of 73,50,553 vaccine doses were administered in the last 24 hours. Cumulatively, 54.38 crore COVID-19 vaccine doses have been administered under the nationwide vaccination drive till Sunday morning, the ministry said.A total of 4,31,225 deaths have been reported so far in the country, including 1,34, 909 from Maharashtra, 36,958 from Karnataka, 34,496 from Tamil Nadu, 25,069 from Delhi, 22,783 from Uttar Pradesh, 18,499 from Kerala, and 18,291 from West Bengal.
The health ministry stressed that more than 70 percent of the deaths occurred due to comorbidities.
Higher than national average, per capita income of Telangana doubled in 7 years:KCR
”Likewise, when the state was formed in the 2013-2014 financial year our State Per Capita Income was Rs. 1,12,216 whereas now Telangana’s State Per Capita Income has reached Rs.2,37,632. Presently, our country’s Per Capita Income is recorded as Rs. 1,28,829. It is to be noticed that the Telangana State Per Capita Income is more than that of the country Per Capita Income,” he said.