Indian

PAN-Aadhaar linkage deadline extended till March 2022

Sep 17, 2021

“Time limit for intimation of Aadhaar number to the Income tax Department for linking of PAN with Aadhaar has been extended from 30th September, 2021 to 31st March, 2022,” it said.

National Asset Reconstruction Company to acquire stressed assets of about Rs 2 lakh crore in phases

Sep 16, 2021

Explaining the benefits that banks will get from this new structure, the Finance Ministry said the new structure will incentivize quicker action on resolving stressed assets thereby helping in better value realization.

World Bank discontinues business climate report after ethics review

Sep 16, 2021

In a statement, the World Bank said that after the irregularities raised ethical matters involving former bank staff and board officials, the development lender will work on a new approach to assessing countries’ business and investment climates.

Sold electric scooters worth over Rs 600 cr in a day: Ola co-founder

Sep 16, 2021

Ola Electric had opened pre-launch bookings of its electric scooters in July for Rs 499 and had received 1 lakh orders in just 24 hours. However, the company has not disclosed how many orders it has received so far.

Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu with an investment of Rs 2,400 crore.

The company had stated that it would initially start with 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase.

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International

India proposes online platform for SAARC to jointly combat coronavirus

Mar 28, 2020

The Indian side proposed that till the electronic platform is fully operational, a network of experts representing the health services of all SAARC countries may set up on email/whatsapp to enable exchange of all relevant information on real time basis.

Scor shareholder ups pressure over executive pay, wants AGM postponed

Mar 28, 2020

Scor’s board has recommended a reduction in the variable compensation of the company’s chairman and chief executive Denis Kessler for 2019 to 1.08 million euros ($1.2 million) from 1.18 million euros a year ago. His total compensation would increase to 6.7 million euros in 2019 from 6.52 million a year ago, according to Scor’s annual report.

From quills to qwerty: Lloyd’s underwriters adapt to home working

Mar 28, 2020

Underwriters and brokers are already able to process part or all of a trade electronically through platforms such as PPL. But many have preferred not to do so.

Pressure mounts on U.S. insurers to pay pandemic business loss claims

Mar 28, 2020

This week Ohio and Massachusetts lawmakers introduced bills similar to one in New Jersey which would require insurers to pay the claims, mainly to small businesses, despite exclusions.

Insurers could then seek reimbursement from states, which would recoup the funds by assessing industry fees.

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