Brief News

Dinesh Deo appointed as CEO at JLT India

Dinesh Deo has been appointed as the Chief Executive Officer at JLT India as the incumbent, Puneet Satyawadi gears to take over as the Chief Operating Officer of JLT Americas. JLT

Dinesh joins JLT India from BNY Mellon where he spent the last 13 years in various roles, most recently as the CEO of their operations in India.

JLT India is the knowledge and consulting centre of UK based JLT Group, one of the world’s leading insurance broking, employee benefits and consultancy firm.

Mar 04, 2018, 8:30 pm

HDFC Life’s  online data platform for customers

HDFC Life created the data platform on AWS Cloud to facilitate an agile and a responsive solution to deliver a frictionless on-boarding experience to customers. AWS has robust data privacy, security and compliance measures in place, and its platform is designed, built, and regularly audited to meet the most rigorous compliance standards.

Chandra Sankholkar, GM of Amazon Internet Services  said, “By building their next-generation digital platform on AWS Cloud, HDFC Life is able to innovate more quickly on behalf of their customers. 

Mar 06, 2018, 9:45 pm

SBI appoints P K Gupta as nominee director on SBI Life board

SBI Life Insurance Company Ltd today said P K Gupta, SBI MD - Retail and Digital Banking, has been appointed by the parent firm as nominee director on its board.

"...pursuant to the approval received from Department of Financial Services, Ministry of Finance...SBI has decided to nominate P K Gupta, MD (Retail & Digital Banking) as SBI Nominee Director in the board of directors of our company," SBI Life Insurance Company Ltd said in a filing to BSE.

SBI is the promoter of SBI Life Insurance .

Mar 06, 2018, 9:55 pm

IRDAI allows Acko exemption from management expenses norms

The insurance regulator IRDAI has allowed Acko General Insurance, which got its licenses two month back, exemption from complying with limits of expenses of management stipulated under Section 40B of the Insurance Act, 1938.

The exemption shall be valid for Financial Years 2018-19 to 2022-23 (Five financial years) in addition to the first partial Financial Year of 2017-18 (during which the Company commenced operations).

Mar 08, 2018, 5:40 pm

India’s aviation market rises 17.9 pc in January

India’s aviation market reported its 41st consecutive month of double-digit traffic increase, with a 17.9 percent rise in January. The country’s domestic market continued to be among the fastest growing in the world.

Data released by International Air Transport Association (IATA) shows that capacity (measured in available seat kilometers) rose by 16.7 percent in India, again among the fastest.

Canara HSBC Oriental Bank of Commerce Life Insurance ties up with Can Fin Homes

Private life insurance company Canara HSBC Oriental Bank of Commerce Life Insurance today announced an alliance with Can Fin Homes. All the life insurance products of Canara HSBC Oriental Bank of Commerce Life Insurance would be made available to customers of Can Fin Homes and would be sold by the licensed staff of the Company.

Canara HSBC Oriental Bank of Commerce Life Insurance operates a pure bancassurance model and has access to around 115 million customers and a pan-India network of over 10,000 branches of its partner banks.

Indian economy will continue to have V-shaped recovery: Finmin

The 7.2 percent expansion in the economy during October-December quarter has put the country in one of the highest growth bracket in the world and recovery will continue to be sharp going ahead, Economic Affairs Secretary Subhash Chandra Garg said .

The third quarter growth of 7.2 percent was highest in five quarters. The previous high was recorded at 7.5 percent in the July-September quarter of 2016-17.

In the first quarter of the current fiscal, the GDP grew at 5.7 percent, while the second quarter growth stood at 6.5 percent.

Mar 09, 2018, 5:25 am

Passenger vehicle sales up  7.77% to 2,75,329 units in Feb

According to data available with industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales increased 7.77% to 2,75,329 units in February.

While sales of commercial vehicles went up by 31% to 87777 units, those of two-wheelers grew by 23.8% to 16,85,814 units.

Overall, sales of automobiles across categories went up by 22.77% to 21,11,383 units.

Mar 12, 2018, 4:12 pm

Kutumbe joins IRDAI as a member

Pravin Hari Kutumbe, 58, has joined the Insurance Regulatory and Development Authority of India(IRDAI) as Member (Finance & Investments) on 12th March 2018.

He was earlier with Life Insurance Corporation as an executive director before joining IRDAI.

Mar 13, 2018, 12:29 am

Mar 13, 2018, 6:35 pm

Indian companies 8th most optimistic on hiring plans: Survey

Indian companies are the eighth most optimistic lot globally in terms of hiring intentions for April-June with 16 per cent of employers likely to add more staff during the period, while Croatia topped the pack, says a survey.

According to the survey released today by staffing firm ManpowerGroup India, workforce gains were expected across all four regions and seven industry sectors including services, finance, real estate, manufacturing, among others.

Mar 13, 2018, 6:38 pm

World Bank projects 7.3% growth for India in FY19 and 7.5% in FY20

The World Bank on Wednesday projected India's GDP growth at 7.3 per cent for the next financial year and accelerate further to 7.5 per cent in 2019-20.

The report, however, observed that a growth of over 8 per cent will require "continued reform and a widening of their scope" aimed at resolving issues related to credit and investment, and enhancing competitiveness of exports.

Mar 15, 2018, 1:09 am