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Union govt, NDMA can ask banks to waive loans of Wayanad landslides victims: Kerala HC
A bench of Justices A K Jayasankaran Nambiar and Easwaran S said it will pass orders "nudging" the Centre and the NDMA to ask the banks to waive off the loans Kochi: The Kerala High Court on Thursday said that while the RBI cannot ask banks to waive the loans of...
Slow down: Indian general insurance industry grows premium by just 6.2% to almost Rs 3.08 trillion in FY 25
The top five players -New India Assurance(with a market share of 12.56 per cent), ICICI Lombard General Insurance(8.72 per cent), Bajaj Allianz General Insurance(6.96 per cent), United India Insurance(6.53 per cent), Oriental Insurance(6.45 per cent) , have expanded...
SC summons MoRTH top officials for failing to implement `golden hour’ scheme for road accident victims
Sources in the industry pointed out that the MoRTH has already transferred around Rs 450 crore , mobilised by the general insurers to be spent in `golden hour’ treatment, to its own account so that it can implement the scheme directly without involving the insurers...
Asset valuer appointed for IDBI Bank; govt deliberating on share purchase pact: DIPAM secretary
The privatisation of IDBI Bank has been in process for over two and a half years. In October, 2022, when the government, together with LIC, had invited EoI from investors for privatising IDBI Bank by selling a total of 60.72 per cent stake. This includes a 30.48 per...
Global energy insurance market continues to soften with capacity at an all-time high: Willis
In Asia, insurance capacity from Asian-based insurers remains very strong. Over the last two years, some insurers have set up new and expanded capacity in the region due to market profitability in the downstream sector. This is coupled by an increased demand from...
Soaring civil unrest and protest activity concerns companies and insurers: Allianz
More than 80,000 incidents in top 20 countries connected to protest and riot activities around the world during 2024, Religious and politically motivated terrorism a major concern for governments and companies in the year ahead. Asia Pacific is the region with the...
RBI cuts rates by 25 bps for a second time as US tariffs add to growth risks
Sanjay Malhotra, Governor, Reserve Bank of India RBI has lowered the GDP growth forecast to 6.5 per cent from earlier projection of 6.7 per cent due to global uncertainties. The RBI lowered the inflation projection for the current fiscal to 4 per cent from 4.2 per...
FM Nirmala Sitharaman chairs India-UK Investor Roundtable in London
The key priorities for the India-UK Economic and Financial Dialogue on the Indian side have been flagged as cooperation in IFSC GIFT City, investment, insurance and pension sectors, fintech and digital economy, and mobilising affordable and sustainable climate finance...
Govt showcases new Aadhaar app for instant authentication, says verification will be as simple as UPI payment
"Now with just a tap, users can share only the necessary data, giving them complete control over their personal information - New Aadhaar App (in beta testing phase)... Aadhaar verification becomes as simple as making UPI payment. Users can now digitally verify and...
India needs to keep a watch on cybersecurity, climate change and system-wide contagion risks: IMF report
IMF report suggested enhanced data coverage with better granularity for mapping climate-related financial risks in India It acknowledges India’s insurance sector is strong and growing with a significant presence in both life and general insurance. The sector has...
Flipkart fined Rs1.06 cr for flouting IRDAI norms
Flipkart Internet Pvt Ltd ( FIPL) is a registered corporate agent under composite category Hyderabad: The Indian insurance regulator IRDAI has slapped a fine of Rs 1,06 crore on prominent e-commerce company Flipkart, promoted by Binny Bansal and Sachin Banls, for...
Boeing settles lawsuits with two 737 MAX crash victims’ families
Boeing agreed in July to plead guilty to a criminal fraud conspiracy charge and pay a fine of up to $487.2 million. A judge set a June 23 trial date if no final agreement is reached. U.S. plane maker Boeing Co reached settlements with the families of two people who...
Comments made by Warren Buffett on social media sites are false
While Berkshire didn’t describe the nature of the posts, the firm’s statement came amid circulation of an Instagram post claiming that the 94-year-old billionaire praised President Donald Trump’s economic policy. The video was posted March 13, but it circulated widely...
Global credit starts to wobble as market pain spreads
Overnight in Asia, the Markit Itraxx Asia ex-Japan index, comprising sovereign and company debt, rose about 26 basis points to its highest since August last year “If we see credit struggling, spreads widening out significantly, precious metals and other havens like...
Indian insurance industry waits for a new IRDAI chairman
The names of Ajay Sheth, who have been appointed as finance secretary just a few days back, Girdhar Armane, former Defense Secretary , Pankaj Jain, Petroleum secretary are still in the reckoning though it is unlikely that the government will now shift Sheth from the...
India’s car sales surge past 41.53 lakh mark during FY25
Two-wheeler sales during 2024-25 registered a higher growth rate at 7.71 per cent year-on-year to touch 1,88,77,812 units on the back of buoyant demand. Three-wheelers sales rose 4.54 per cent compared to the previous on driven by higher economic activity but...
Automobile retail sales drop 7 pc in Feb amid slowing demand FADA
"Dealers noted weak market sentiment which specially continues in the entry level category, delayed conversions, challenging targets and stressed that OEMs should avoid overburdening dealers with excessive inventory -- a practice that risks unmanageable stock levels...
Bloodbath: Stock market crashes over 5%, investors poorer by Rs 20.16 lakh cr in morning trade
The 30-share BSE benchmark tumbled 3,939.68 points or 5.22 per cent to 71,425.01 in early trade. Mirroring the bearish trend in equities, the market capitalisation of BSE-listed firms declined sharply by Rs 20,16,293.53 crore to Rs 3,83,18,592.93 crore (USD 4.50...