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Citigroup, Kotak Mahindra, Among 10 Others Selected To Manage LIC IPO

A ministerial panel, called the Alternative Mechanism on strategic Divestment, is expected to decide soon on the size of the stake to be sold. It could be around 10 per cent, sold in two tranches, the two government sources said.

The other selected lenders are JM Financial Ltd, Axis Capital, Nomura, BofA Securities, J.P. Morgan India Pvt Ltd, ICICI Securities and Kotak Mahindra,

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Indian aviation watchdog plans tough new drug abuse rules

Wednesday’s draft rules require random drug tests of flight crew and air traffic controllers, to ensure testing of at least 5% of the total employees of airlines and others in a year. Positive tests will lead to an employee being “immediately removed from the safety-sensitive duty till a confirmatory report is received”, the draft showed.

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China’s BRI project causing environmental degradation in South Asia, says report

South Asia is amongst the main regions likely to be hit severely by the negative environmental impact of climate change. BRI announced by Beijing in 2013, will exacerbate these trends, reported European Foundation for South Asian Studies (EFSAS).

The Environmental Kuznets Curve (EKC) report said the environmental trends in South Asia generally correspond to the development trajectory, that causes pollution through growing industrialisation, which has become one of the key environmental characteristics of South Asia, says EFSAS.

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Make ‘bumper-to-bumper’ insurance mandatory : Madras HC

“, this court directs that whenever a new vehicle is sold after September 1, it is mandatory for coverage of bumper to bumper insurance every year, in addition to covering the driver, passengers and owner of the vehicle, for a period of five years. Thereafter, the owner of the vehicle must be cautious in safeguarding the interest of driver, passengers, third parties and himself/ herself, so as to avoid unnecessary liability being foisted on the owner of the vehicle, as beyond five years, as on date there is no provision to extend the bumper to bumper policy, due to its non-availability, said Justice S Vaidyanathan of the Madras High Court.

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Law while changing with social needs must recognise technological advancements: Kerala HCKochi

The high court also referred to the provisions of the Information Technology Act and said that proposal and acceptance made by parties to a marriage through videoconferencing cannot be said to be invalid.

“If it is valid and permissible, there is absolutely no reason why the parties to a marriage under the Act (SMA) shall not be permitted to solemnise the marriage by exchange of words through video conferencing,” it said.

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Kerala HC to examine whether weddings under SMA can be solemnised online

The order came on the pleas by several petitioners who have contended that personal physical presence of the bride and groom is not necessary for solemnisation of nuptials under the law.

The state government, on the other hand, is not in favour of online solemnisation of marriages under the Act.

It has contended that solemnization of marriage was mandatory prior to registering it under the SMA and therefore, presence of the two sides and the witnesses is required before the Marriage Officer.

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Celebrate festivals with caution, second Covid wave not yet over: Centre

The government said 41 districts in India were reporting a COVID-19 weekly positivity rate of more than 10 per cent.

According to the government, 58.4 per cent of the total COVID-19 cases last week were reported from Kerala.

”Kerala is the only state reporting over 1 lakh active COVID-19 cases, while four states have 10,000 to 1 lakh active cases and 31 states have less than 10,000 active cases,” it said.

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Govt launches e-SHRAM portal to maintain database of 38 cr unorganised sector workers

Prime Minister Narendra Modi has sanctioned Rs 2 lakh accidental insurance cover to every registered unorganised worker on the e-SHRAM portal. If a worker registered on the portal meets with an accident, he/she will be eligible for the amount on death or permanent disability and Rs 1 lakh on partial disability.
A national toll free number — 14434 — was also launched to assist and address the queries of workers seeking registration on the portal

As part of the initiative, the workers will be issued an e-SHRAM card containing a 12-digit unique number The objective behind the move is integration of social security schemes of the government.

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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.

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