Given the rapidly evolving landscape, Department of Economic...
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Tampering with mobile IMEI non-bailable offence, attracts 3-yr imprisonment, Rs 50 lakh penalty: DoT
"DoT emphasises that these regulations are essential for...
Exempt life insurance from GST to enable insurers to claim ITC benefits: LIC MD Patnaik
Ratnakar Patnaik,managing director,LIC, appealed to the government...
European Central Bank plans insurance for climate risks
One part of the plan is a voluntary public-private reinsurance mechanism that would pool private risks across the EU to help backstop weather-related losses. The second pillar would be to create a mandatory European Union fund to pay reconstruction costs when...
Catastrophic Insurance: Shielding China’s Uninsured Economy
“Catastrophe risk management falls within the realm of public management. A lack of understanding of that “public nature” in China has led to “a simplistic approach of delegating the job to the insurance industry, which is ill-equipped to shoulder the entire...
GST Council approves ‘Track and Trace Mechanism’ to curb evasion
"The system shall be based on a Unique Identification Marking which shall be affixed on the said goods or the packages thereof. This will provide a legal framework for developing such a system and will help in implementation of mechanism for tracing specified...
GST Council to set up GoM to look into Andhra’s demand for 1 pc calamity cess
The GoM in January 2019 decided to approve the levy of 1 per cent 'calamity cess' by Kerala for a period of two years to fund rehabilitation work in the state hit by floods. The goods and services that faced the 1 per cent cess were decided by Kerala Jaisalmer: The...
GST Council exempts tax on insurers’ contributions to Motor Vehicle Accident Fund, defers any decisions on life and health covers
No decision was taken with regard to reduction in GST on insurance premiums as the GoM needed more time to study the issue. Many inputs are awaited including the one from insurance regulator IRDAI, Finance minister Nirmala Sitharaman ``It was felt any decision on...
8.39 cr hospital admissions worth over Rs 1.16 lakh crore authorised under AB PMJAY till Nov 30: Govt
Many of the states and Union territories implementing the scheme have converged their respective State Health Insurance Schemes with AB PMJAY, thereby increasing the population covered under government-funded medical insurance to include more than 18 crore families,...
GST Council to decide on insurance premium tax; major rate rejig unlikely
A final decision of the insurance taxation under GST is likely on Saturday as most states are in favour of lowering taxes on premium. New Delhi: The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance...
DoT asks telcos to play cybercrime awareness caller tune 8-10 times daily
"In order to make the public aware about cybercrime through the caller tune campaign, it has been decided to play caller tune audios through pre-call announcement/ring back tone arrangement, which will be provided to TSPs by nodal officers of I4C. Caller tunes to a...
Lavanya Mundayur takes charge as CMD of Agriculture Insurance Company
Lavanya Mundayur, CMD, Agriculture Insurance Company After clearing Mundayur‘s appointment with a bit of delay, the government will now approve the appointments of new executive directors (EDs) and will also shortlist the names for the post CMD of Oriental Insurance...
Fed lowers rates but sees slower pace of further cuts, firmer inflation
U.S. central bankers now project they will make just two quarter-percentage-point rate reductions by the end of 2025 WASHINGTON: The U.S. Federal Reserve cut interest rates on Wednesday and signaled it will slow the pace at which borrowing costs fall any further,...