A two-member NCLAT bench upheld the earlier order passed by the...
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LIC to tap NRIs and PIOs through Gift City
Siddartha Mohanty, CEO & MD,LIC Siddartha Mohanty, CEO &...
SBI General partners with BLS E-Services for selling its products
SBI General Insurance has entered into a strategic partnership with...
Virus variants threaten global recovery, G20 warns
Differences in vaccination levels between the world’s rich and poor remain vast.
WHO Director-General Tedros Adhanom Ghebreyesus has called the divergence a “moral outrage” that also undermines wider efforts to tame the spread of the virus.While some of the wealthiest countries have now given over two-thirds of their citizens at least one shot of vaccine, that figure falls to well below 5% for many African nations.
UP Population Bill draft denies government jobs, subsidy If more than 2 children
Listing incentives for public servants who adopt the two-child norm, the draft bill says, “Public servants who adopt the two-child norm will get two additional increments during the entire service, maternity or as the case may be, paternity leave of 12 months, with full salary and allowances and three per cent increase in the employer’s contribution fund under national pension scheme.”
LIC’s Chairman post will be termed as `Chairperson’ for next 3 years
Issuing a circular last Friday, LIC has said as per section 4 (2) (a)of the amended LIC Act, 1956 which has become effective from 30th June, 2021, the erstwhile whole time position of chairman would be “Chairperson” during the initial period of three years
LIC to have Chief Executive Officer, Managing Director; govt does away with Chairman post
The changes have been made by the Department of Financial Services under the finance ministry by amending Life Insurance Corporation of India (Employees) Pension (Amendment) Rules. Besides, some other rules under LIC Act, 1956, have been amended.
India invites UK companies to invest in insurance sector
The Dialogue saw government-to-government discussions to strengthen cooperation on four key themes: Gujarat International Finance Tec (GIFT) City; banking and payments; insurance, and; capital markets. It was led by senior officials from the UK Treasury and the Indian Ministry of Finance, with participation from independent British and Indian regulatory agencies, BHC said.
Global Covid-19 caseload tops 184.5 mn; deaths surge to more than 3.99 mn
The US continues to be the worst-hit country with the world’s highest number of cases and deaths at 33,746,275 and 605,903, respectively, according to the CSSE.
In terms of infections, India follows in the second place with 30,619,932 cases.
In crosshairs of ransomware crooks, cyber insurers struggle
Now, the sector isn’t just in the criminals’ crosshairs. It’s teetering on the edge of profitability, upended by a more than 400% rise last year in ransomware cases and skyrocketing extortion demands. As a percentage of premiums collected, cyber insurance payouts now top 70%, the break-even point.
Saudis may work longer, pay more to Kingdom’s pension fund: Report
The government — faced with an estimated actuarial gap of 800 billion riyals ($213 billion) at the state-controlled pension fund — is weighing proposals to increase the retirement age, according to three people familiar with the matter, who asked not to be identified to discuss confidential deliberations. It could also require workers to contribute more of their salaries to the General Organization for Social Insurance, or GOSI, which manages both public and private sector pensions, the people said.
Global financial regulators attempt to align rules on climate risks
The Financial Stability Board (FSB), which coordinates financial rules for the G20 group of nations, said its “roadmap” seeks to coordinate approaches to disclosures by companies and plug gaps in the data needed to spot financial stability “vulnerabilities” and develop tools to address them.
The roadmap attempts to align rules still in the planning stage between now and 2023 to avoid more divergences between various measures for the same activity.
Singaporeans spend 2.5 times more on their children’s needs than their retirement planning:AIA survey
60% of Singaporeans face an uncertain future by not prioritising their retirement planning
As a simple rule of thumb, monthly income is recommended to be spilt using 50/30/20 rule. Allocate the first 50% of one’s take-home income pay on necessities such as housing, food, and transport. The remaining half should be split up between 20% for long-term savings and investments and with 30% for “wants” like hobbies and travel. However, research shows that Singaporeans are 13% below the target for their retirement planning.