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Jharkhand Cabinet approves proposal to grant up to Rs 5 lakh for treatment of critical diseases

committee headed by a civil surgeon at the district level has given the power to approve the amount of any beneficiary after obtaining guidelines from the hospital concern. Upon approval, the amount would be given to the hospital through RTGS or bank draft,” he said.
An MLA or his or her representative will be one of the members of the committee, he said.

Bill Coen appointed chair of the IFRS Advisory Council

The new Advisory Council Chair will have three priorities. First, to provide leadership and set the agenda for the 2020 meetings; second, to assess for the Trustees of the Foundation any relevant changes that may be warranted in the role and composition of the Advisory Council; and third, to position the Council through any transition.

Coronavirus adds risk to India’s nascent recovery: Krishnamurthy Subramanian

The virus epidemic is seen curbing growth in China and the global economy, which will weigh on India’s outlook at a time when the government is forecasting a rebound. Asia’s third-largest economy will likely expand at 6%-6.5% in the year beginning April, an improvement from an estimated 5% this year, Subramanian wrote in a report last month.

GIC Re’s prms at Rs41,812 cr, posts losses of Rs1,556 cr due to flood & agri claims in Apr-Dec

Coupled with global overall hardening of pricing environment the financial results for Q4 is expected to improve. Alongside, the corporation also pruned the portfolio based on more stringent profitability criteria. Given the steps taken by the corporation in revising premium rates for fire segment based on Insurance Information Bureau(IIB) statistics,the fire segment is now on a sound footing, said GIC Re.

WHO warns overseas coronavirus spread may be ‘tip of the iceberg

“There’ve been some concerning instances of onward 2019nCoV spread from people with no travel history to China. The detection of a small number of cases may indicate more widespread transmission in other countries; in short, we may only be seeing the tip of the iceberg,” tweeted Ghebreyesus, Director-General of the WHO.

Italian investor group Exor weighs sale of PartnerRe to France’s Covea

-Insurers are turning to acquisitions, also in reinsurance, to strengthen their businesses as they face tougher regulation and falling returns from financial market investments.
-Branching out to reinsurance would also allow Covea to diversify outside its main market France, where it makes almost 90% of its 17 billion euros ($19 billion) business.

400 infra projects’ show over Rs 4 lakh crore cost overrun

Finance Minister Nirmala Sitharaman had said as per Prime Minister Narendra Modi’s promise at the Independence Day speech this year, the government has identified infrastructure projects to the tune of Rs 105 lakh crore. The minister said that Rs 102 lakh crore worth of infrastructure projects have been identified for the next five years as part of the government’s spending push in the sector. The minister said that another Rs 3 lakh crore of projects are likely to be added in this pipeline by the states, taking the total to Rs 105 lakh crore of projects.