At present, 96 per cent corrections are being done without any EPF...
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Allianz exits 2 Bajaj insurance JVs by selling its 26 % for Rs 24,180 crore, to set up new Indian insurance companies
Allianz, which had invested just Rs 174 crore in both the JVs way...
Avoid calling customers repeatedly to submit KYC docs Malhotra
Other areas where the banks need to focus on from a customer...
Insurers settled over 2.25 lakh death claims on account of Covid: Irdai report
The net incurred claims of the general insurers stood at Rs 1.41 lakh crore in 2021-22 as against Rs 1.12 lakh crore in 2020-21, an increase of about 26 per cent New Delhi: Over 2.25 lakh death claims due to the Covid-19 pandemic were settled by insurance companies up...
Parl panel moots ex-ante regulations, digital competition law to curb unfair biz practices in digital markets
The suggestions are part of the Standing Committee on Finance's report on 'Anti-Competitive Practices by Big Tech Companies' tabled in Parliament on Thursday and comes against the backdrop of rising concerns over unfair business practices in digital markets. New...
Amending Insurance Acts: General Insurers oppose changes in capital requirements, granting composite licenses
On granting composite licenses, general insurers say,suddenly letting companies to enter into any segment will result in chaos and fragmentation of existing markets. This will also harm the interests of the existing policyholders in both life and nonlife segments, On...
Huge setback for Reliance Capital resolution process as Cosmea-Piramal consortium pulls out
Cosmea Financial is promoted by Sam Ghosh,who was heading Reliance Capital between 2008-2017 According to sources, the Cosmea-Piramal consortium has decided to walk out of the resolution process as it believes that the contours of the bidding process have been...
Govt to take view on privatisation of public sector banks after consultation with dept, regulator
In the Union Budget for the financial year (FY) 2021-22, he said, the government's intent to take up privatisation of two PSBs and approval of a policy of strategic disinvestment of Public Sector Enterprises (PSEs) was announced The government on Monday said it will...
Surety Bonds: Govt allows insurers’ parity with banks as `secured creditors’ within insolvency law in case of defaults
Nitin Gadkari, Union Minister of Road Transport and Highways(Morth), will be formally launching the country's first Surety Bond on Monday Bajaj Allianz General insurance, with major reinsurance back ups from Munich Re and Swiss Re has already got its Surety Bond...
Proposed amendments to insurance laws may lead to disputes in health claims, misappropriation: Unions
The employee unions are also opposed to the idea of insurers distributing insurers to distribute other financial products as it may distract the companies from their insurance products, distribution and proper attention on serving the policyholders Chennai: The Unions...
New Zealand passes minimum age law aiming to ban smoking for next generation
The law states that tobacco can't ever be sold to anybody born on or after January 1, 2009 - and from now on, the minimum age for buying cigarettes will keep going up and up New Zealand is not the only nation pushing to ban smoking for the next generations. In June, a...
No proposal for restoration of old pension scheme Karad
"The state governments of Rajasthan, Chhattisgarh, and Jharkhand, have sent proposals to the central government/PFRDA to return the accumulated corpus of subscribers under NPS to respective state governments. No such proposal has been received from the state...
RBI shortlists 7 global consultancy firms to use AI, ML to improve regulatory supervision
On the data collection side, AI and ML technologies are used for real-time data reporting, effective data management and dissemination For data analytics, these are being used for monitoring supervised firm-specific risks, including liquidity risks, market risks,...