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Status Quo: IRDAI retains general insurers’ Obligatory Cession for GIC Re at 4% in FY26
The percentage cession of the sum insured on each general insurance...
EPFO retains 8.25 pc interest rate on employees’ provident fund deposits for 2024-25
The retirement body had paid 50.8 million claims worth Rs 2.05 lakh...
We see clear advantages in central bank driven digital currency: Nirmala Sitharaman
''We see clear advantages in a central bank driven digital currency, because in this day and age, bulk payments happening between- countries, large transactions between institutions and large transactions between central banks themselves of each country- are all...
Make disclosure regarding a food article being vegetarian or non-vegetarian as mandatory: Delhi HC
The high court directed the Food Safety and Standards Authority of India [FSSAI] to issue a fresh communication to all the authorities concerned stating the obligation to make clear disclosure as to whether the food article is vegetarian or non-vegetarian. A bench of...
Investors brace for volatility as West moves to cut Russia off from SWIFT
The latest measures could send markets on another wild ride, as traders assess the implications for the global economy, including potentially higher commodity prices and inflation Investors were preparing on Saturday for more wild gyrations in asset prices after...
“Govt willing to consider insurers demand to be on par with banks for issuing surety bonds” Alamelu
TL Almelu, member, Non-Life, Irdai ''A huge market is available for surety bonds in-country and now, the onus is on the insurance fraternity to come out with products quickly. We have already initiated at authority level discussions with the insurance agencies and...
SBI Life to reclassify BNP Paribas Cardif as non-promoter
As per Sebi guidelines, a promoter or promoter group seeking reclassification should not hold more than 10 per cent of the voting rights in the company. SBI Life shares closed at Rs 1,129.15 apiece on BSE, down 1.86 per cent from the previous close Mumbai: SBI Life...
China asks banks, firms to report exposure to Jack Ma’s Ant Group -Bloomberg News
Ant has been subjected to a sweeping restructuring by China, whose initial public offering of $37 billion was derailed by regulators in late 2020. Chinese authorities have told state-owned firms and banks to start a fresh round of checks on their financial exposure...
RBI-appointed administrator invites bids for resolution of Reliance Capital
Reliance Capital has two insurance companies, Reliance General Insurance and Reliance Nippon Life Insurance Company, as subsidiaries Mumbai: As part of the resolution process, the RBI-appointed administrator on Friday invited expressions of interest (EoIs) for sale of...
SC sets aside SAT’s “aiding and abetting corruption’ remarks against former IRDA member Joseph
Aggrieved by a SAT order, the IRDAI and its former member PJ Joseph had filed an appeal in the SC ,which the insurance regulator claimed was issued without giving it a proper hearing. The other parties in the long drawn case are few insurance brokers including Atkins...
Sebi moots new disclosure framework for IPOs of loss-making cos
The move comes against the backdrop of many new age companies, that do not have a track record of having an operating profit at least in the preceding three years, tapping the Initial Public Offering (IPO) route to raise funds New Delhi: Markets watchdog Sebi on...
No group can have more than one FRB in India:IRDAI
Till recently AXA group had only two separate branches, XL Se India branch and AXA France India branch and IRDA had asked the group to wind up operation of one of its branches Hyderabad: The insurance regulator IRDAI, after allowing overseas reinsurers to set up...