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IRDAI allows ‘Use and File’ procedure for all the health and most of general insurance products
The insurance industry is expected to use this opportunity for introduction of customized and innovative products, expansion of the choices available to the policyholders in order to address the dynamic needs of the market, which will further help in enhancing the...
GDP grows 4.1 pc in Jan-Mar qtr; 8.7 pc in FY22
As per the data, the Indian economy expanded by 8.7 per cent in 2021-22 against a 6.6 per cent contraction in 2020-21 New Delhi: India’s economy grew by 4.1 per cent in the fourth quarter of 2021-22, pushing up the annual growth rate to 8.7 per cent, official data...
Govt raises premium for flagship insurance schemes PMJJBY, PMSBY
The premium rate of PMJJBY has been revised upward to Rs 1.25 per day, translating into an increase from Rs 330 to Rs 436 annually The annual premium for PMSBY has been hiked from Rs 12 to Rs 20, an official statement said New Delhi: The government on Tuesday raised...
India’s per capita income remains below pre-COVID level in 2021-22
At current prices, the per capita income rose by 18.3 per cent to Rs 1.5 lakh during in 2021-22 fiscal. The per capita income at current prices had dipped to Rs 1.27 lakh in 2020-21 from Rs 1.32 lakh in 2019-20 New Delhi: India's annual per capita income at constant...
Govt issues guidelines on monkeypox, stresses on surveillance and rapid identification
According to the guidelines, a person of any age having a history of travel to the affected countries within the last 21 days presenting with an unexplained acute rash and symptoms like swollen lymph nodes, fever, headaches, body aches and profound weakness is to be...
LIC posts a record profit of Rs 42,000 from equity trading in FY 2021-22, to focus more on non-par policy
Raj Kumar.MD, LIC, explained that the exercise to determine Indian embedded value as on March 31, 2022 is under progress and is expected to be completed by June 30, 2022. As soon as the exercise is completed, LIC shall make the required public disclosures of the same...
“ Indian government’s Sagarmala project will unleash country’s economic potential by harnessing its 7500 km long coastline’’
Amitabh Kumar, IRS, Director General of Shipping Hosted by the General Insurance Council, International Union of Marine Insurance(IUMI) will hold its Asia Forum 2022 in Mumbai during June 1-2, On the occasion of this international event, Amitabh Kumar, IRS, Director...
Shanghai to end two-month long Covid-19 lockdown on June 1: Report
“Beyond Shanghai, restrictions on inter-regional mobility mean that supply-chain snarls will not disappear overnight,” wrote Bloomberg Economics Chief Asia Economist Chang Shu in a Tuesday note. “A retreat in virus infections allowed Shanghai to begin reopening. But...
Trend of above-average hurricane seasons expected to continue this year: Allianz
“There is no clear scientific consensus on whether climate change will result in a net increase in the frequency of tropical storms,” explains Bastian Manz, Senior Climate Risk Analyst at Allianz Re London/New York/Singapore; The hurricane season in the Atlantic basin...
Russia plans seizure local units of Western firms trying to exit country
The law, which could be in place within weeks, will give Russia sweeping powers to intervene where there is a threat to local jobs or industry, making it more difficult for western companies to disentangle themselves quickly unless they are prepared to take a big...
NHA launches public dashboard for Ayushman Bharat Digital Mission
The dashboard also has granular details in relation to number of health facilities like hospitals, laboratories etc registered on a daily basis as well as cumulative till date The public dashboard displays detailed information on the core registries under the mission...
IRDAI approves 8 new insurance players, final licenses soon: Chairman
`Debasish Panda, chiarman, IRDAI The industry has now 56 primary players and 12 foreign reinsurers ``We would like to have many more players including micro insurers, insurtechs, niche and differentiated players who can operate with a much smaller capital and...
IRDAI gives initial approvals to 8 new players: Chairman
`` With new eco-system that IRDAI is putting in place, which Panda described a ``revolutionary phase,’ the industry which has almost reached Rs 10 trillion of premium income at the end of Fy2020-21 should be in a position to double it in next five years''...
Investors richer by over Rs 10.19 lakh crore in 3-day rally
''Indian markets witnessed a smart rally on the back of positive global cues and early arrival of monsoon giving hopes of slowdown in inflation. On the global front, European and Asian markets edged higher following US market rally on last Friday,'' said Siddhartha...
LIC net profit falls 18% to Rs 2,409 crore in Q4 FY2021-22,declares 15% dividend
The corporations' first year premium increased 32.65 per cent to Rs 14,663.19 crore and its renewal premium increased by 5.37 per cent to Rs 71,472.74.05 crore in the reporting quarter NEW DELHI: Life Insurance Corporation (LIC) of India has seen its net profits...
Expand scope of Ayushman Bharat to include middle class: Gehlot urges PM
Rajasthan Chief Minister Ashok Gehlot ''Due to the costly treatment in today's era, apart from the eligible families of SECC, the middle class also needs a scheme like Chiranjeevi Yojana across the country. I request you to increase the scope of Ayushman Bharat scheme...
Asia-Pac air passenger demand lags rest of the world at 17pc, India is at 70pc
The steps IATA suggested governments take include lifting the mask mandate for air travel and removing quarantine and COVID-19 testing requirements for unvaccinated travellers where there are high levels of population immunity, which is the case in most parts of Asia....
LIC launches `Bima Ratna’, a non linked, non-participating, individual, savings life insurance plan
The plan is available for a term of 15, 20 and 25 years. premium paying term is 4 years less than policy term. plan provides 25% of basic sum assured as survival benefit at the end of each year for the last two years of policy term (T-2 & T-1) , provided the...