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Indian
ICICI Lombard gets final IRDAI nod for acquiring Bharti Axa, to be 2nd largest Indian general insurer
The merger of Bharti Axa General Insurance with ICICI Lombard General Insurance, had earlier got formalised in an all-stock deal, valued at €521 million(approximately Rs 4,200 crore).
The shareholders of Bharti AXA will receive two shares of ICICI Lombard for every 115 shares of Bharti AXA held by them as on the date as the scheme of arrangement is approved by the board of directors of ICICI Lombard and Bharti AXA.
he consolidated entity will have a market share of about 8.7 per cent on a pro forma basis in the non-life business,
Govt revamps incentives for autos to boost EVs, hydrogen fuel cells: Report
Auto parts makers, however, will get incentives to produce components for clean cars as well as for investing in safety-related parts and other advanced technologies like sensors and radars used in connected cars, automatic transmission, cruise control and other electronics, the sources said.
“The idea is to promote the development of technology that is currently not manufactured in India but is imported either because regulation demands it or customers want those features in their cars,” said the second source.
Over half of India’s adult population received at least 1 Covid shot: Govt
India aims to open finance to millions with user-data system
Regulators agreed to allow banks, pension funds, tax authorities, insurers and other finance firms to pool together customer information — once the user consents — to make transactions smoother. If the system works, firms will be able access large amounts of data within seconds to assess the creditworthiness of a small business, recommend a wealth management product for an individual, or tailor an insurance policy for a family.
The Account Aggregator system, years in the planning, was formally introduced on Thursday. It’s an ambitious approach that combines privacy protection with credit reporting.
International
Threat of Coronavirus pandemic ‘has become very real’: WHO Chief
Coronavirus: Italy to quarantine Milan, Venice and other regions
The Italian government is planning to quarantine the entire...
Coronavirus in US: New York declares state of emergency
Coronavirus may force Americans to avoid crowds and cancel cruises, health official warns
More than half of the 50 U.S. states have reported cases, including the first cases in Virginia and Connecticut on Sunday. As the outbreak spreads, daily life has been increasingly disrupted, with concerts and conferences canceled and universities telling students to stay home and take classes online.
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