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Government raises Rs 31,552 crore as LIC Offer for Sale closes with overwhelming investor response
"Offer for Sale in the Life Insurance Corporation of India (LIC)...
SC extends mandatory TP vehicle insurance period by one yr, asks IRDA to implement it immediately
The Supreme Court directed third-party insurance period for new...
SC agrees to hear plea to implement disability-sensitive guidelines for welfare insurance schemes
A bench of Justices Vikram Nath and Sandeep Mehta agreed to hear the plea which sought a direction to the Centre to exercise policy oversight to ensure that welfare insurance schemes for persons with disabilities are implemented in conformity with the guarantees under...
LIC board approves 1:1 bonus issuance,Govt plans an OFS of corporation
In a regulatory filing, the bonus issue will be done by capitalising Rs 6,325 crore out of reserves and surplus available with LIC as of December 31, 2025. The bonus issue would pave way for further share sale or offer for sale (OFS) of LIC. The government, according...
Govt drops any merger plans among PSU general insurers
Though, the government had not announced any specific plans for the mergers among PSU general insurers-New India Assurance, Oriental Insurance, United India Insurance, United India Insurance- in recent times, the Department of Financial Services(DFS) was...
State can’t differentiate between serving employees and pensioners on DA: SC
In a significant judgment upholding the right to equality for retirees, a bench comprising Justice Manoj Misra and Justice Prasanna B Varale dismissed appeals filed by the State of Kerala and the Kerala State Road Transport Corporation (KSRTC) and affirmed that...
From falling U.S. wealth to Indian factory closures, oil shock raises global recession risk
Risks sharpen for the global economy if oil moves above $110 or $120 a barrel, warned Nathan Sheets, chief global economist at Citi and a former U.S. Treasury Department official. Attacks that have severely damaged refineries, ports and oil storage in the Gulf region...
Voluntary retirement a distinct employee right, not mere exit: SC
``It is quite clear, if an employee on or after 1st day of November 1993 completes 20 years of qualifying service, and furnishes a notice of not less than three months to the appointing authority, he may retire voluntarily," the bench noted New Delhi:The Supreme Court...
Govt plans sovereign guarantees on loans to businesses hit by Iran war, sources say
India is planning to provide a guarantee of about 90 per cent on loans up to ₹100 crore ($10.75 million) to lenders in case borrowers default in the aftermath of the crisis in West Asia, both the sources said. New Delhi:The government plans to roll out sovereign...
If West Asia crisis continues Indian exports to other parts of world will get impacted: Official
Even if the war ends, the impact of the crisis will be there for the next few months or years, depending on which supply chain or which infrastructure has been impacted.So, at this juncture, it will be very difficult to take a very long-term view on it," Central...
Navy ensures security of Indian commercial ships, oil tankers: Defence Minister Rajnath Singh
"There are many sensitive points in the sea where our Navy has continuously made its active presence to ensure the smooth supply of goods. Whenever there is a situation of tension there, the Indian Navy has ensured the security of our commercial ships and oil...
Sanjay Lohiya to succeed Nagaraju as new DFS Secretary
Sanjay Lohiya, special secretary, Department of Financial Services Lohiya has been appointed as a Special Secretary, Department of Financial Services, Ministry of Finance by temporarily upgrading a vacant post of Joint Secretary in the Department. will take over as...