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Finmin proposes to raise FDI in insurance to 100%, seeks public comments by December 10
According to an office memorandum dated November 26, 2024, it is proposed to amend certain provisions of insurance laws to ensure accessibility and affordability of insurance to citizens, foster expansion and development of the insurance industry, and streamline...
DFS secy asks 4 PSU general insurers to bring down their underwriting losses and guard market share
M Nagaraju, after becoming the DFS secretary, held his first review meeting with the four state owned general insurance companies in New Delhi on Tuesday New Delhi: M. Nagaraju, secretary, Department of Financial Services (DFS), has asked the four state owned general...
Railways paid only 22 claims under Optional Travel Insurance Scheme in five years
Responding to questions regarding the number of victims who had availed of insurance through e-tickets, Railways Minister Ashwini Vaishnaw said 22 claims were registered under the Optional Travel Insurance Scheme during the period from November 1, 2019, to October 31,...
HC seeks Delhi govt’s stand on PIL to implement AB-PMJAY in city
A bench of Chief Justice Manmohan and Justice Tushar Rao Gedela said it was "strange" that the Delhi government was not accepting Centre's aid when there was "no money" with it for its healthcare system New Delhi: The Delhi High Court on Wednesday expressed shock over...
ADB expands support for Philippines’ Climate Action with $500 million loan
In recent weeks, four strong typhoons impacted the Philippines one after the other, highlighting the country’s vulnerability to increased frequency and intensity of extreme weather events. Economic damages from climate-related disasters could be as high as 7.6% of...
LIC explores picking up stakes in Manipal Cigna Health Insurance
According to sources in the insurance industry, LIC’s choice of Manipal Cigna is purely on the basis of cheaper valuation among the old stand alone health insurance companies New Delhi: Life insurance behemoth Life Insurance Corporation (LIC) is considering...
Berkley Asia and Lloyd’s Syndicate Volante venture into Indian markets
One more Lloyd’s Syndicate Volante has received a license from the Indian insurance regulator IRDAI to join the existing Lloyd’s platform in Mumbai while another major reinsurer Berkley Insurance Asia has ventured into the the Gujarat International Finance...
DHL cargo plane crashes near Vilnius Airport, One killed
“We see a more aggressive Russia, foreign partners have also spoken about it publicly, speaking about threats of sabotage acts. We can’t reject this scenario, but so far we can’t make any attributions or point fingers at anyone because there’s no such information.”...
Existing PAN holders do not need to apply afresh under PAN 2.0: Tax dept
"With existing PAN database of 78 crore PANs and 73.28 lakh TANs, the project addresses the requirements of taxpayers, focusing on consolidation of multiple platforms/portals and efficient services to PAN/TAN holders," Central Board of Direct Taxes (CBDT) said in a...
Labour Min asks EPFO to focus on preparations to launch ELI Scheme
Three schemes for ELI were announced in Union Budget 2024-25 as part of the Prime Minister's package of five schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over 5 years with a central outlay of Rs 2 lakh crore...
Oak Reinsurance launches Syndicate 2843, receives Lloyd’s nods to underwrite
OAK Re is launching Syndicate 2843 in collaboration with blue chip capital providers including Bain Capital and Hampden Agencies, the largest provider of private capital to Lloyd’s. Polo Managing Agency is providing turnkey services for Syndicate 2843 LONDON: Oak...
Rapid increase of Himalayan glacial lakes, NGT issues notice to Centre others
Taking cognisance of a news report showing about 10.81 per cent increase of the glacial lakes in the last 13 years due to the rising temperatures, Justice Prakash Shrivastava and expert member A Senthil Vel said the report had outlined the sudden growth of these lakes...
Govt announces Rs1,435 cr project to make PAN a common business identifier
"The PAN 2.0 Project resonates with the vision of the Government enshrined in Digital India by enabling the use of PAN as Common Identifier for all digital systems of specified government agencies," an official release said New Delhi: The government on Monday...
India’s economic outlook for coming months ‘cautiously optimistic’: Finmin Report
Amidst a clouded global background, and after a brief period of softening momentum over the monsoon months, the report said, many high-frequency indicators of economic activity in India have shown a rebound in October. These include indicators of rural and urban...
GoM report on GST on health insurance to be placed before Council when received FinMin
Minister of State for Finance Pankaj Chaudhary informed the House that revenue generated from GST on healthcare and life insurance services was Rs 8,263 crore and Rs 8,135 crore, respectively during fiscal 2023-24, as against Rs 7,638 crore and Rs 9,132 crore in the...
HDFC Life launches probe after customer data shared with “mala fide” intent
The company, in its statement, did not elaborate if the source had obtained the data by breaching the company's security, or what data was shared Mumbai: HDFC Life Insurance Company said on Monday that an unknown source shared certain customer data with the company...
Social media platforms urge Australia to delay ban on children under 16
The legislation would impose fines of up to 50 million Australian dollars ($33 million) on platforms for systemic failures to prevent young children from holding accounts. It seems likely to be passed by Parliament by Thursday with the support of the major parties.It...
No single magic formula for cancer, say oncologists slamming Sidhu for ‘sensationalism’
“The treatment of cancer is because of either chemotherapy, surgery, or radiation. This forms the backbone of the treatment. The other adjuncts, like the diet control or diet rearrangements or the natural ingredients, cannot replace the treatment,” added Dr. Pritam...