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Indian
Govt invites bids from merchant bankers, legal advisors for LIC IPO
The Department of Investment and Public Asset Management (DIPAM) would appoint up to ten merchant bankers and one legal firm for assisting and advising on the stake sale.The last date for putting in bids is August 6, as per a notice issued by DIPAM.
Last week, the Union Cabinet approved an Initial Public Offer (IPO) of LIC and the modalities such as issue size, pricing and timing would be decided by a panel headed by Finance Minister Nirmala Sitharaman.
Physical bank branches will continue to play key role in rural areas: Bankers
Aviation ministry issues draft rules to ensure ease of using drones in India
Civil Aviation Minister Jyotiraditya Scindia said ”Drones are bringing the next big tech revolution around the globe with reduced costs, resources and time taken for operations. It is upon us to ride on the new wave and facilitate its uptake, especially among our startups,” he said on Twitter.
No flight permission, according to the draft rules, will be required up to 400 feet in green zones and up to 200 feet in the area between 8 and 12 km from the airport perimeter.
Assam private hospitals directed no COVID-19 patient be refused admission for having health insurance
The Health and Family Welfare Department said that it has received reports of some private hospitals refusing admission to COVID-19 patients despite having medical insurance.It referred to an order by the Insurance Regulatory and Development Authority of India (IRDA) in March last year that removed all hurdles in the policies and had directed that the cases should be handled expeditiously.
International
Lloyd’s selects 11 Insurtechs to help support its Future-at-Lloyd’s project
The start-ups are focused on finding ways to enhance data sharing and provide new sources of risk insight as well as pricing and risk models to help Lloyd’s market participants better understand threat scenarios. They also will be developing methods to reduce the cost of processing claims as well as the burden of compliance and regulation
Oil tankers cut navigation risks in Strait of Hormuz by vanishing from tracking systems
Ships go dark when they want to avoid prying eyes — Iranian vessels have been doing it on and off for years because of sanctions that penalized buyers of the nation’s oil. Tankers occasionally turn off their signals when rounding the Arabian peninsula, near flash points in Yemen. This doesn’t make vessels invisible or hide them from radar, though it does make their movements harder to track
Companies Act amended to include penal provisions for CSR norm violations
Swiss Re H1 profit hit by Ethiopian airlines crash, grounding of Boeing 737 MAX
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