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Govt to sell 7% stake in GIC Re tom, to mop up Rs 4,701 cr
“Retail investors and GIC employees can bid on Thursday. The government will divest 3.39 per cent equity with an additional 3.39 per cent as green shoe option,” Secretary, Department of Investment and Public Asset Management, posted on social media platform X ...
Srinivas Injeti is now chairman of Zurich Kotak General Insurance
Srinivas Injeti Srinivas Injeti, former secretary of ministry of corporate affairs and former chairman of International Financial Services Centres Authority(IFSCA), has been appointed as chairman of Zurich Kotak General Insurance, with D Sundaram and Ravi Venkataraman...
IRDAI approves take over of Aditya Birla Insurance Brokers by Edme
Rs 455 crore deal had got stuck for over 18 months as the IRDA had refused give its approvals in the absence of certain key information about the transaction Mumbai: Allowing the entry of private equities(PEs) in the insurance broking sector, after almost 18 months...
Prasun Sikdar set to become the first CEO of Bima Sugam
Prasun Sikdar,MD & CEO designate, Bima Sugam India Federation Sources point out that a formal decision to appoint Sikdar, who is already a board member of the Bima Sugam India Federation, as the CEO of the company has been taken by the IRDAI in consultation with...
India needs to avoid financialization as it marches towards Viksit Bharat goal, says Nageswaran
V Anantha Nageswaran, Chief Economic Advisor "Unprecedented levels of public and private sector debt, some visible to regulators and some not, economic growth dependent on continued increase in asset prices to offset the leverage that have built up and hence a massive...
Rare diseases India foundation to form Hunter’s Alliance
``The financial strain on families affected by Hunter's Disease is immense. By roofing the patients under our existing policy, we can foster better treatment coverage and significantly improve their quality of life,” Saurabh Singh, Co-founder and Director of Rare...
Gen insurers sue govt for being ordered to fund treatment of accident victims of uninsured vehicles
To the consternation of the general insurers, who do motor business, the Ministry of Road Transport and Highways had issued a directive under Motor Vehicle Accident Fund scheme saying that the insurers have to even fund the cashless medical care of victims of...
FPIs inflow in equities drops to Rs 7,320 cr in August on higher valuations
In August, FPIs invested Rs 7,320 crore in equity compared to Rs 32,365 crore in July. They infused more than 11,366 crore in the Indian debt market, pushing the net inflow tally in the debt segment to more than the Rs 1 lakh crore mark in 2024 to date, according to...
New SHe-Box portal to create workplace safer, more inclusive for women
Annapurna Devi, Union Ministrer, Ministry of Women and Child Development All women facing sexual harassment in the workplace, irrespective of being in organised or unorganised, private or public sector, can register a complaint and track it using the portal. Once...
Govt takes a host of measures for LGBTQI+ community
Department of Financial Services (DFS) has issued an advisory that there are no restrictions for persons of the queer community to open a joint bank account and also to nominate a person in queer relationship as a nominee to receive the balance in the account, in the...
Govt to extend social security benefits to gig and platform workers: Mandaviya
"Our government is fully committed to the well-being of gig and platform workers, who form a crucial part of our workforce. We are working on a comprehensive strategy to provide them with the social security they deserve.An online window will be made available for...
Lenders to Reliance Capital accuse IIHL of using delaying tactics
According to sources, lenders claimed that IIHL's move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought. It was not even a part of conditions set out by the NCLT while approving the resolution plan on February 27, 2024...
MHA constitutes central team to assess damage caused by floods in Gujarat
Madhya Pradesh and Rajasthan were also affected by heavy to very heavy rainfall. Multiple spells of heavy rains, cloudbursts and landslides have caused extensive damage in Himachal Pradesh this year New Delhi: The Ministry of Home Affairs has constituted an...
Wages of Assam tea workers meagre shortcomings in welfare scheme implementation CAG report
Shortcomings in facilities such as hospitals, schools, canteen, creche, recreation club and housing accommodation as compared to the specifications notified by the state government were also observed by the auditors. Guwahati: Wages of tea garden workers in Assam are...
‘Infant attrition’ rising, accounts for 10-15% of labour movement: Report
"Infant attrition in India, mainly seen in the 22-32 years age group, is growing annually at 4-5 per cent and is mostly driven by factors like poor work-life balance and flexibility, which is particularly important to younger workers, job dissatisfaction, inadequate...
Expect good Wayanad relief package from Centre; Gadgil, Kasturirangan reports not pragmatic, says Kerala CM
Chief Minister Pinarayi Vijayan dismissed as "not pragmatic" the recommendations made by the Madhav Gadgil and Kasturirangan committees on ecologically sensitive areas of the Western Ghats, saying the panels did not consider the societal expectations and ground...
Presence of microplastics in salt, sugar brands: NGT issues notice to authorities
The tribunal was hearing a matter where it had taken suo motu (on its own) cognisance of a PTI report regarding these microplastics being present in various forms, including fibre, pellets, films and fragments New Delhi: The National Green Tribunal has sought a...
India outperforms other major economies even as growth slows in April-June
Despite strong growth relative to other economies, India faces challenges in job creation and more inclusive economic growth. These issues have affected real wages, household consumption among lower-income groups, and private investments. New Delhi: India's economic...