Welcome to My Blog

Here is a masonry blog layout with no sidebar

Govt  may set up a unified financial regulator at GIFT IFSC

“Yes, the government is looking at having a single regulator for all the entities belonging to banking, capital markets and insurance industry located in the IFSC at GIFT City. At present, they are being regulated by regulators like SEBI, RBI and IRDAI. We are awaiting a nod from the government after individual regulators indicated that they are okay with the idea, Gujarat International Finance Tec-City (GIFT) MD Ajay Pandey said in Mumbai.

“Customers have started buying/renewing policies online”

Indian general insurance industry is currently in an upswing mode. Players in the industry, after years of restricted growth, are gearing up to take advantage of the new opportunities in the sector. KG Krishnamoorthy Rao, MD & CEO, Future Generali India Insurance, in an interview with Asia Insurance Post, outlines growth trends as well his company’s strategies to grow its business

Edited Excerpts:

The wait for the self-driving future is coming to an end

In just a few years these companies are promising to fill the roads with robo-taxis, driverless delivery vehicles, and sentient shuttles that will transform the way we move, upend industries, and ultimately reduce deaths by car accidents. By 2021 there will be 51,000 autonomous vehicles on roads worldwide, according to a new forecast from IHS Markit, with sales projected to rise to nearly 1 million by 2025 and an estimated 33 million by 2040. 

Life insurance industry witneses 12 pc jump in  surrenders/withdrawals of policies in 2016-17

According the latest annual report by the IRDAI, the benefits paid during 2016-17 on account of surrenders / withdrawals increased by more than 12  per cent and stood at Rs 90005.41 crore, of which the state owned Life Insurance Corporation accounted for Rs 44924.56 crore and private sector Rs 45080.85 crore.The comparative previous year statistics were Rs 80333.74 crore, of which LIC accounted for Rs 37504.33 crore and private sector paid Rs 42829.41crore

Per capita income growth may fall 8.3% to Rs 1,11,782 in FY18

The growth of real Gross Value Added (GVA) in 2017-18 is anticipated at 6.1 per cent as against 6.6 per cent in the previous year.Economic activities were affected by demonetisation announced on November 8, 2016 and subsequent implementation of a new indirect tax regime (GST) from July 1 in the current financial year. 

Digital economy: Parliamentary panel suggests govt to form law on data privacy

Committee also found it “rather disconcerting” that even as the country moves towards a digital economy, transactional hassles and grievances of users, including ATM frauds such as cloning, have also been increasing manifold. Ordinary customers are then left high and dry, extremely helpless and clueless about the next course of action for a remedy and redressal of grievance,” the report said.