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FPIs withdraw Rs 27,142 cr in 3 trading sessions on geopolitical tensions
According to the data, FPIs made a net withdrawal of Rs 27,142...
10 people killed in flashfloods triggered by heavy rain in Meghalaya
Incessant rainfall has triggered landslides in Gasuapara region of...
Govt gets ready to infuse Rs 10,000 cr of fresh capital into 3 PSU general insurers,amends GIBNA Act
The cabinet earlier had approved capital infusion of Rs12,450 crore for the three PSU general insurers that included Rs 2,500 crore already infused in these three companies in 2019-20,The ministry of finance(MoF) had clarified that out of fresh capital of Rs 10,000 crore,,Rs.3,475 crore will be released immediately;while the balance Rs,6475 crore will be infused later.
SC asks Centre to ensure salaries paid to doctors on time
The court had said, the Central Government shall issue appropriate direction to the Chief Secretary of the States/ Union Territories to ensure that the orders are faithfully complied with, violation of which may be treated as an offence under the Disaster Management Act read with the Indian Penal Code.”
Deadline for filing I-T returns extended till Sept 30
In March,the due date for filing I-T returns was extended from March 31 to June 30. Later in June, it was again extended by a month till July 31.
Meanwhile, markets regulator Sebi on Wednesday gave relaxation of one month till September 15 to listed companies for submitting their June quarter results amid coronavirus pandemic.
UK sets up $647 million emergency insurance fund for film and TV
As filmmakers try to get back to work, they are finding some insurers have stopped providing the COVID-19 coverage they need to secure financing.
The government said the insurance fund will be available to all productions made by companies where at least half the production budget is spent in the UK, and is estimated to cover more than 70% of the film and TV production market.
More S.African insurers yield to customer demands to pay COVID BI claims
The FSCA and the Prudential Authority, which oversees the strength of the financial-services industry, last week struck a deal with insurers to consider once-off payments to help keep customers afloat, while courts decide whether insurers are correctly interpreting the terms of contracts.
Toyko,Sydney aim to lure edgy Hong Kong financial firms, but Singapore a top draw
Institutions have not made any major moves from Hong Kong as yet, but they are being circumspect even about discussing contingency plans as the topic is sensitive and many hope to expand in mainland China.
Busan in South Korea is offering tax breaks and rent free offices to financial firms, while Taiwan’s top regulator told Reuters he hoped the island’s rule of law and democratic values would attract business.
The political upheaval in Hong Kong has created an opportunity for Australia and Sydney to become a stronger regional financial centre,” Senator Andrew Bragg wrote to Australia’s Treasurer this month, proposing policy changes.
“Tokyo will, frankly, struggle to steal significant market share from, let alone replace, Hong Kong,” said Steven Tran, a partner at law firm Mayer Brown in Hong Kong, who was previously based in Tokyo for four years.
Chile’s Congress passes pensions bill,president agrees to sign it
Chile’s lower chamber erupted in cheers and clapping after the bill was passed on Thursday, with some chanting “no more AFP” – a reference to the long-running campaign to tear up Chile’s much-mimicked defined contribution Pension Funds Administrators (AFP) system that was introduced during the Augusto Pinochet dictatorship.
India plans to reduce number of state-owned banks to just five: sources
The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India,Indian Overseas Bank, UCO Bank, Bank of Maharashtra and Punjab & Sind Bank, leading to an effective privatisation of these state-owned lenders, a government official said.
Govt shelves merger plans among UII,OIC and NIC,to infuse Rs10,000 cr of fresh capital into 3 cos
The Cabinet also approved increase in authorised share capital of NIC to Rs.7,500 crore and that of UIIC and OlC to Rs 5,000 crore respectively to give effect to the capital infusion.
The capital infusion of Rs.3,475 crore will be allocated to three PSU general insurers as the first tranche in the current financial year and the. balance amount will be released in one or more tranches.
Govt working on one-stop platform for all official data,says Statistics Minister
The theme for Statistics Day, 2020 covers (Sustainable Development Goal) – SDG 3 (Ensure healthy lives and promote well-being for all at all ages) and SDG 5 (Achieve Gender equality and empower all women and girls).