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IBA and 2 Insurance Councils want an IT vendor for setting up a single repositary for 35 crore Jan Suraksha schemes
`The existing data of Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana of approximately more than 35 crore customers since the start of the schemes(2015) need to be migrated from the individual/banks and insurers to the repository,’’...
Blast at India’s Tata Steel coke plant injures three contract workers
The unit was not operational and was undergoing a dismantling process, Tata, India's largest steelmaker by revenue, said in a statement, adding that production has not been impacted MUMBAI: Tata Steel said three contract workers had been injured in a blast at one of...
Severe cyclone Asani raging in Bay of Bengal,not to make landfall either in Odisha or Andhra Pradesh
The system will not make landfall either in Odisha or Andhra Pradesh, IMD Director-General Mrutunjay Mohaptra had said on Sunday. He said the cyclone will move parallel to the east coast and cause rainfall from Tuesday evening New Delhi: Asani, the severe cyclonic...
China strives for global dominance through seaport control
The experts pointed out that, of the 96 ports owned by Chinese companies around the world, several are at key locations for maritime trade, "giving Beijing strategic dominance without having to deploy a single soldier, ship or weapons." It is estimated that China now...
China’s population declined in 10 provincial-level regions in 2021
According to the seventh nationwide census of 2020, China's population on the mainland has grown by 0.53 per cent annually on average in the past decade. China's population reached 1.41 billion as of the end of 2021, up by 480,000 from the previous year, according to...
Foreign funds’ share in India equities at 19.5%, lowest since March ’19
The record fall was mainly due to the massive outflows of USD 5.4 billion in March and a whopping USD 15.7 billion in FY22. Such a massive pullout came after they pumped in USD 23 billion in 2020 and USD 3.7 billion in 2021 New Delhi: Foreign funds' ownership in...
LIC IPO subscribed 1.79 times on Day 5; offer closes on Monday
The Qualified Institutional Buyer (QIB) category is yet to be fully subscribed. Bids were received for 0.67 per cent of the shares earmarked for the segment, showing a poor response. Mumbai: Life Insurance Corporation's IPO, the country's biggest public offer, was...
Aila, Amphan, Asani: How A Cyclone is Named?
Each tropical storm is given a name to avoid confusion, facilitating disaster risk awareness, management and mitigation Bhubaneswar: Every year, as a cyclone looms over a region, its name becomes a cause of intrigue for many, who wonder why and how is the storm...
Nigeria first nation to stop domestic flights as fuel costs soar
The war has caused massive disruption to energy markets with Russian feedstocks used to produce jet fuel and diesel becoming untouchable for many parts of the world. China has also cut its oil product export quota, limiting supplies. The loss of 3.2 million barrels a...
Future Enterprises to exit insurance business, to raise Rs 3,000 cr via insurance biz sale to pare debt
Kishor Biyani-led group Future Enterprises would completely exit the insurance sector after selling its existing stakes in life and non-life joint ventures soon Mumbai: Debt-ridden Future Group firm Future Enterprises Ltd expects to raise around Rs 3,000 crore from...
US cyber insurance payouts increase amid rising claims, premium hikes
Cyber insurance direct written premiums in US grew by 74% in 2021 to over $4.8 bil., according to statutory financial data from the “Cybersecurity and Identity Theft Insurance Coverage Supplement.” Premiums for standalone coverage increased by 92% to over $3.1 billion...
State-run general insurers may get further capital infusion of Rs 3,000-5,000 cr
Fund support was given to the weak general insurance companies last financial year, some more fund requirement is there to bring them back on profitability path, sources said. During 2020-21, Rs 9,950 crore was infused in three PSU general insurers by the government...
Global factors, macro data, earnings to drive market trends this week: Analysts
''The direction of global equity markets along with movement in dollar index and crude oil prices will continue to dominate while inflation numbers of the USA on May 11 and inflation and IIP numbers of India on May 12 will also cause volatility in the market,'' said...
Commercial vehicle industry to see double-digit growth this fiscal: Tata Motors’ Girish Wagh
''Then a lot of work is happening in the housing sector in urban areas. Consumption overall is going up and the rural growth story is intact. All these put together, I do see that the commercial vehicle industry should see a good growth this year,'' Tata Motors...
Sebi constitutes advisory panel on ESG-related matters
The terms of reference of the committee include enhancements in business responsibility and sustainability report, ESG ratings and ESG investing Mumbai: The committee will be headed by HDFC Mutual Fund Navneet Munot, the Securities and Exchange Board of India (Sebi)...
Dubai Aerospace Writes Off $538 Million, files insurance claims on planes tied to Russia
Aircraft lessors have been caught up in the international response to Russia’s invasion of Ukraine. The Kremlin has blocked the repossession of planes as required by sanctions, stranding roughly 400 jets that had been leased to Russian companies. The Middle East’s...
DGCA warns of strict action, penalty against airlines wrongly denying boarding to passengers
"It has come to the notice of this office that various airlines are denying boarding to passengers holding confirmed tickets on a flight, although they have presented themselves for boarding within the time specified by the airline. This practice is extremely unfair...
FM Sitharaman flags anonymity as ‘inherent risk’ in use of blockchain
Finance Minister Nirmala Sitharaman The finance minister made it clear that using the distributed ledger technology (DLT), which is also called as blockchain, is absolutely imperative and the government also supports the use of the same the anonymity is what … one...