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LIC disinvestment: 100,000 employees stage walk-out across country

“Being one of the biggest financial institutions of the country, any move to privatise LIC will shake the confidence of the common man and will be an affront to our financial sovereignty. The very purpose of LIC to provide insurance coverage to socially and economically backward class at a reasonable cost will be defeated and motto will change from service to profit,” the statement said.

Third coronavirus case reported from India

The Centre has set up a task force to monitor the situation arising out of the novel coronavirus with representatives from the Ministries of Health, Home, Civil Aviation and Women and Child Development, Union Minister of State for Home G Kishan Reddy said on Monday

Odisha is the most disaster prone state in the country:15th Finance Commission

A Disaster Risk Index (DRI) has been prepared by the FFC that assigns scores to each state based on probability and vulnerability.
“It is the first attempt to include state-level disaster risk scores in resource allocation and address a serious deficiency in the previous state-level allocations for disaster management,” the commission said in its report tabled in Parliament on Saturday.

IRDAI allows re/insurers to launch ART Solutions with its prior approvals

“In case, the re/insurer intends to adopt ART, non-traditional structured solutions, Financial Re-insurance, then it shall take prior approval of the IRDAI,” said IRDAI.The insurers have to inform the IRDAI on or before 1st March of every year about any such  proposed re-insurance arrangement to be entered in to by the insurer.

 

Divestment to help both LIC, government: Jayant Sinha

There are three benefits from the disinvestment of the LIC – it will be strengthened with the listing with share market, which requires reporting every month. It will also bring in accountability, transparency and efficiency,” the MP from Hazaribag said.To a query on the fate of policy-holders, he said all of them will get every benefit assured in their policies as there is no connection between the disinvestment initiative and policies.