Welcome to My Blog

Here is a masonry blog layout with no sidebar

Govt mulls personal I-T relief while scrapping some exemptions: Report

by | Oct 24, 2019 | ,

Prime Minister Narendra Modi’s government is mulling a proposal to hike the taxable income limits, especially the 1 million rupee slab, which attracts a 30% rate at present, the people said, asking not to be identified as the discussions are private. The move will be accompanied by scrapping some tax breaks, including the one offered on house rent payments and interest earned on some bank deposits.

Will prepare blueprint for companies moving out of China: FM Sitharaman

by | Oct 20, 2019 | ,

“I’d certainly be doing that – go back and design in some way whereby I will identify those multinational corporations, all American businesses or any other country European or a British origin who are moving out of China or who probably are even contemplating. I will make a blueprint with which I will approach them and put forward to them as to why India is a far more preferable destination,” Sitharaman told a group of Indian reporters at the conclusion of her interactions at the annual meeting of the International Monetary Fund and the World Bank in Washington.

FPIs stay bullish on India, pour in Rs 5,072 cr in October so far

by | Oct 20, 2019 | ,

Regarding the future course of FPI flows, Harsh Jain, co-founder and COO, Groww, said, “The momentum is expected to continue in the long term as India is a very attractive investment destination with sound fundamentals. The markets are extending gains in the hopes of better quarterly results. Brexit deal, if successful, will bring more confidence to the global investors’ sentiments and help boost investment into India.

Many countries have cautioned on rushing into crypto currencies, says Sitharaman

by | Oct 20, 2019 | , ,

“Some of them (countries) of course even suggested that they shouldn’t be using, all of us shouldn’t be using the name stable currency because that’s the expression they used. Many cautioned to the extent saying even the name should not be stable currency, it should relate to virtual currency or something of the kind,” she said.

SBI General PAT at Rs 278 crs, up 9% in H1 FY 2019-20

by | Oct 18, 2019 | ,

The general insurance arm of banking major State Bank of India (SBI) reported an underwriting profit of Rs 37 crores in H1 19-20.
“Our focus on our claims promise has remained undeterred we have consistently delivered on it with Rs 1196.96 cr settled in H1 FY 19-20. We have settled 99 per cent  of claims during some of the recent natural catastrophes”, said Pushan Mahapatra, MD & CEO, SBI General Insurance.

Typhoons Faxai, Hagibis, not likely to materially impact Japanese non-life insurers’ capitalisation

by | Oct 18, 2019 | , , ,

AM Best believes that the losses from Typhoon Hagibis will be largely driven by flood impact, rather than wind damage. Given the record breaking level of rainfall in some areas, as well as the relatively high population density surrounding Greater Tokyo, AM Best expects that the three mega-insurance groups’ gross losses from Typhoon Hagibis will be as significant as that from Typhoon Faxai, albeit possibly less severe than Typhoon Jebi in 2018.