A final call by the council on taxation of insurance premiums is...
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Goyal asks realtors to ensure guaranteed ESIC, PF registrations for 7 cr people working in sector
Piyush Goyal,Union Commerce and Industry Minister "I urge you to...
Mercedes Benz fire incident may slow down EV transition in South Korea
Although batteries are a critical component in electric cars and...
Threat of crackdown on U.S. insurers fades as political ‘Blue Wave’ sputters
That bodes well for the insurance industry, which had feared a Democratic sweep would allow progressives to reprise regulations introduced after the 2008-2009 financial crisis and push a disruptive healthcare overhaul.
Health insurance stocks jumped on Wednesday, as fears of a dramatic change faded. The S&P 500 managed care index .SPLRCHMO rose 9.8% as investors and insurance trade groups cheered an expected Republican hold on the Senate.
Govt issues ordnance to amend arbitration law
As per the latest amendment brought through the ordinance, if the award is being given on the basis of an agreement based on fraud or corruption, then the court will not impose a condition to stay the award and grant an unconditional stay during the pendency of the appeal if it has been challenged under Section 34 of the arbitration law.
There would be significant cyber losses in the next 10 years: Mumenthaler
`There are certain tail risks that are too big, in my view, for the insurance industry to carry. We can carry a certain amount of risk, and we are active in the market, but I think the capacity will run out within the next three years.The shadow of cyber risk still looms large, with bad actors or rogue states capable of launching damaging cyber attacks that could even result in human losses, given our dependence on technology. It’s not a random event. It’s perpetuated by people and on the aggregation side it’s a real challenge,” he explained…
Govt to bring new law to curb air pollution in Delhi-NCR
The new law will be only for Delhi and NCR. It will come out soon. I cannot comment on what penalties it will entail. It is a new law to curb pollution in Delhi NCR region only. Air Act is for the nation and it will be as it is, Environment Secretary, R P Gupta, told PTI.
Govt staff can submit several bills to avail LTC voucher scheme benefit
“As far as possible, the claim should be made and settled well before March 1, 2021 to avoid any last minute rush and resultant lapse”according to the Finance Ministry.
Deadline to file income tax return extended by a month till December 31
For those taxpayers whose accounts need to be audited, the Income-Tax Return filing deadline has been extended by two months till January 31, 2021.
London must ‘seize the moment’ to maintain global leadership amid COVID-19 pandemic:Report
Britain accounted for nearly a third of financial activity in the European Union, which it left last January, and will no longer have to comply with its rules after Dec. 31.
New Financial said in its study “Beyond Brexit,” supported by Barclays bank, that leaving the EU would be a seismic change and involve significant disruption for the banking and finance industry’s relations with the bloc.
Meity to seek Cabinet approval for policy on AI-based programmes
“We look at artificial intelligence not from the viewpoint of driverless cars but from solving problems of people and how we can socially empower them through AI. We will make AI a moment in India,” Niti Aayog CEO Amitabh Kant said.
National Strategy for Artificial Intelligence (NSAI) highlighted the potential of Artificial Intelligence (AI) in boosting India”s annual growth rate by 1.3 percentage points by 2035 and identified priority sectors for the deployment of AI with government”s support.
Centre in SC agrees to waive compound interest on loans up to Rs 2 cr for six-months
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
The government, therefore, has decided that the relief on waiver of compound interest during the six-month moratorium period shall be limited to the most vulnerable category of borrowers. This category of borrowers, in whose case, the compounding of interest will be waived, would be MSME loans and personal loans of up to Rs 2 crore, it said.
India open to launching own app store as start-ups criticise Google – government source
India already runs a mobile app store that lists over 1200 mainly government-backed applications, but also Paytm, and the government could also consider expanding that instead of starting from scratch, the official added.