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Piramal,Torrent,Oaktree and IndusInd Bank want extension of deadline for submitting bids for Reliance Capital
Few bidders, including Piramal, Torrent, Oaktree and IndusInd Bank, have written to the administrator seeking an extension of the deadline from existing August 10 to September 15. Moreover, sources said, one of the bidders Piramal Group is also facing roadblock as...
“PMFBY premium can come down by exploiting more technology to bring in more transparency and objectivity in loss assessment’’ Malaya Poddar,CMD, Agriculture Insurance Company
Malaya Poddar,CMD, Agriculture Insurance Company AIC's market share in Crop Insurance increased from 29 % to about 50 % currently over the last 3 years AIC has recently obtained a full-fledged "Agriculture Insurance" license from the regulator IRDAI which it has been...
IRDA approves 30% expense of management(EoM) limit for general insurers, allows Corporate Agent to have 9 tie-ups
Debasish Panda,chairman,IRDAI Corporate agents are allowed to place commercial lines and general insurance covers without any limit on the sum insured The Insurance Marketing Firms (IMF) will be allowed to engage Insurance Sales Persons (ISP) for the purpose of...
After 9 months, FPIs return to Indian equities with Rs 5,000 crore investment
This is in sharp contrast to a net withdrawal of Rs 50,145 crore from the stock market seen in June. This was the highest net outflow since March 2020, when foreign portfolio investors (FPIs) had pulled out Rs 61,973 crore from equities, data with depositories showed...
India used far less than its share of global carbon budget: Govt
Ashwini Kumar Choubey,Union Minister of State for Environment "Our per capita emissions are 1.96 tonnes which is less than one-third of the world's per capita GHG (greenhouse gas) emissions and our annual emissions in 2016 are only about 5 per cent of the global...
EPFO launches face authentication for pensioners to submit digital life certificates
Union Minister of Labour and Employment Bhupender Yadav who also chairs EPFO's apex decision-making body the Central Board of Trustees launched the face authentication technology for pensioners and stated a labour ministry statement New Delhi: EPFO launches face...
Deficient rains threaten Kharif crop production in Uttar Pradesh
Of the total 75 districts of the state, 67 recorded deficient rainfall while only seven recorded normal rainfall during this period Lucknow: With deficient rains across Uttar Pradesh in this monsoon, farmers are staring at difficult days ahead fearing a sharp...
U.S. crop insurers post record-high premium growth on rising commodity prices and innovation
Revenue policies make up the bulk of the premium for the MPCI program, according to the report, so the loss ratio for revenue products has the most significant impact on the overall results of the program OLDWICK, N.J: Premiums in the US multi-peril crop insurance...
Floods now Australia’s second costliest weather event, insurers pay $2 billion in claims
The latest figures reveal insured losses have increased six per cent from last month to a record-breaking $5.134 billion The average claim is $22,000, with personal claims averaging $17,000 and commercial claims averaging $71,000 New data, released by the Insurance...
China announces military exercise opposite Taiwan
The ruling Communist Party’s military wing, the People’s Liberation Army, was conducting “live-fire exercises” near the Pingtan islands off Fujian province from 8 a.m. to 9 p.m., the official Xinhua News Agency said. The Maritime Safety Administration warned ships to...
Wage Revision: Talks between GIPSA & PSU general insurance Unions to resume on Aug 4
In a letter to Suchita Gupta, chairperson, GIPSA, on Tuesday, unions had pointed out,“Failure of the DFS and our managements to address the genuine demands of the workforce have created a lot of distrust which needs to be rebuilt. You must have noticed the anguish of...
Investors richer by over Rs 9 trn in three days of market rally
Softening commodity prices, reduced intensity of Foreign Institutional Investors (FIIs) selling and better-than-expected earnings season have led to the recovery in the markets, analysts said Mumbai: Investors' wealth grew by over Rs 9 trillion in three days of sharp...
India now among select nations shaping global financial sector trends: PM Modi
Prime Minister Narendra Modi ` India is one of the world's leading economies and will grow even bigger going forward; we should build institutions that can cater to our present and future roles,'' the Prime Minister said Gandhinagar: Prime Minister Narendra Modi on...
Banks’ climate risk assessment to include their reputational risks:RBI
Regulated entities (REs) should address financial risks arising from climate change and environmental degradation, through its risk management framework, in line with Board-approved risk appetite statement, risk management strategy and business plan, said the RBI...
Global re/insurance industry’s Blockchain platform B3i files for insolvency
“The directors, following consultation with the shareholders, have collectively concluded that there was not sufficient support to continue with the venture at this stage,” said an announcement on the company’s website B3i is supported by over 21 of the largest...
Lloyd’s insurer Ascot and Marsh launch marine cargo and war insurance for grain moving from Ukrainian Black Sea ports
Bruce Carnegie-Brown,chairman, Lloyd's The Lloyd’s of London facility will provide up to $50 million of cover in marine cargo and war insurance, Lloyd’s, Ascot and Marsh said in a statement Premiums to go into the broader Black Sea area have risen sharply, to as much...
Children at risk of new ‘unexplained acute hepatitis’ outbreak – WHO
“Every 30 seconds, someone dies from hepatitis-related diseases, including liver failure, cirrhosis and cancer,” said the WHO chief Moreover, some 80 per cent of people living with the disease are unable to access or afford care UN: The world is currently facing a new...
Asia-Pacific accounts for $ 22bn CAT losses in H122, Insured losses at $ 8bn:Munich Re
Floods, earthquakes and storms caused overall global losses of some US$ 65bn compared with US$ 105bn in the loss-heavy previous year. At around US$ 34bn, insured losses were roughly in line with previous years Globally, some 4,300 people lost their lives in natural...