Unexpected resilience that led economists to significantly upgrade...
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Domestic institutional investors pour record over Rs1 lakh cr in equities in Oct
DII activity came as the cumulative foreign portfolio investor...
Ayushman Vaya Vandana Card to provide free hospital treatment to all above 70 years: PM Modi
Data shows that just about 20 per cent are covered by any health...
Govt asks people to register as cyber crime volunteers to check unlawful online content
The project known as Indian Cyber Crime Coordination Centre (I4C) is an initiative of the Union Ministry. It was started in militancy-hit Jammu and Kashmir last week where the police issued a circular asking citizens to register themselves as volunteers.
Budget proposals positive for insurance sector: Fitch Ratings
“Fitch expects a relaxation of foreign-ownership rules to attract international insurers and promote competition within the sector. This will, in turn, increase the insurers’ access to capital and thereby improve the industry’s solvency position,” the agency said in a statement.
Govt’s disinvestment policy not akin to ‘selling family silver’: FM
Union Finance Minister Nirmala Sitharaman reiterated that the government would have bare minimum presence in the strategic sectors where it is very important for the government to stay.
The Finance Minister who presented her third Budget on February 1 noted that the strategic sectors will not remain totally under the government’s domain and private players too will be allowed in the sectors.
India proved wrong all those who raised apprehensions: PM on govt’s handling of Covid-19 pandemic
Modi said there were predictions like crores would be infected and lakhs would die.
He said India emerged as a hub of pharmacy for the world during the pandemic, and added that the country is implementing the world’s largest vaccination programme.
‘Playing with fire’: Twitter’s India snub sparks debate on compliance, free speech
Twitter initially complied but later restored most of the accounts, citing “insufficient justification” to continue the suspensions. The technology ministry warned the company, in a letter seen by Reuters, of legal “consequences” that could include fines or jail, saying the government was not required to justify its demand to ban accounts.
DPIIT ‘definitely’ working on new e-commerce policy: Govt official
“Who should be accountable for counterfeit products sold through an e-commerce company. Data is an important issue. The entire data issue will be governed by what actually the data law will be, which is before Parliament. That is why we are not in a hurry to finalise it (the policy)… So, whatever will be the final outcome of that data bill, it will apply to everybody who will deal with data,” the official said a regulator for the sector may come if required.
RBI holds interest rates steady at record lows as economic outlook improves
“Going forward, the Indian economy is poised to move in only one direction and that is upwards. It is our strong conviction, backed by forecasts, that in 2021/22, we would undo the damage that COVID-19 has inflicted on the economy,” Reserve Bank of India Governor Shaktikanta Das said after announcing the rate decision.
The repo rate or RBI’s key lending rate was held at 4% while the reverse repo rate or its borrowing rate was left unchanged at 3.35%.
Maharashtra: Uddhav Thackeray launches scheme for startups to help file IT patents
“Our goal is to make the state number one in various skill development schemes and startups. A number of schemes have been undertaken for this purpose and new schemes will be added in the future as well. It has been proposed to set up an international standard Center for Skill Development in Mumbai and courses in ITIs are being updated in a timely manner,” Malik said.
International rating agencies give thumbs up to proposal of raising FDI limit to 74 % in insurance sector
Prospectively, given the historical trends and the opportunity to hold greater ownership in the insurance companies, AM Best is of the opinion that the Indian insurance industry is likely to attract significant overseas capital inflow.
The possibility of higher foreign ownership would improve insurers’ financial flexibility by offering additional opportunities to bolster solvency. In addition, insurers would benefit from the sharing of risk management best practices, possibly leading to a lowering of exposure to high-risk assets and adoption of risk-based capital management, explained Mohammed Ali Riyazuddin Londe, vice President – senior analyst, Financial Institutions, Moody’s Investors Service.
SJM and Employees’ unions oppose govt’s move to privatise a PSU general insurer
SJM National Co-Convenor Ashwani Mahajan stated that the announcement of privatisation of public sector banks and an insurance company is worrying.After 2018, that had announced the merger of three PSU general insurers, National Insurance Company, Oriental Insurance Company and United India Insurance Company, which was called off in 2020, the announcement in Budget-2021-22 to privatise one of the PSU general insurers, has again given rise to conjecture and confusion, said a statement by officials of different uinons, which had supported the mergers of three companies. .