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India to spend $27 billion over 5 years to boost manufacturing
The incentives will be given to manufacturers in 10 sectors including automobiles and auto parts, pharmaceuticals, textiles and food products to attract investment, Nirmala Sitharaman said.
The scheme has been designed to ensure that “critical sunrise sectors get necessary support from the government so we are able to build an India which is strong enough to serve the domestic market and link up with the global value chain,” Sitharaman said.
New India’s net profit rises 5 % to Rs 555.59 cr in Q2 FY 2020-21, combined ratio improves from 116.62% to 105.75%
Thanks to the lock down due to the Covid-19 pandemic, -for the first time , NIA has booked underwriting profits in motor during the period. The company’s liability portfolio has been profitable during the period.
Atul Sahai, Chairman Cum Managing Director, NIA said,”Considering the challenging macro environment, the company has delivered excellent results for the quarter and the half year ended 30th Sep 2020. Compared to the Industry the company has registered much better growth and has also increased its market share to 14.56 per cent as of Sep 30,2020. The growth has been accompanied by healthy operating metrics with combined ratio declining from 116.62 per cent in H1FY20 to 105.75 per cent in H1FY21.”
SEBI proposes extending risk management committee requirement to top 1,000 listed firms
The committee should be responsible for taking measures for risk mitigation, business contingency plan as well as monitoring and overseeing implementation of the risk management policy, as per the watchdog. It should also be responsible for keeping the board informed about the nature and content of its discussions, recommendations and actions to be taken.
FM Sitharaman asks banks to ensure all accounts are linked with Aadhaar by March next year
” by March 31, 2021, every account should have a PAN where needed and where applicable, and Aadhaar in every one of your accounts,” Sitharaman said while addressing the 73rd annual general meeting of the Indian Banks’ Association (IBA).
She said banks should discourage non-digital payments and should bank on promotion of digital payments techniques and also adopt many of the UPI driven payments.
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