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Title Insurance fails to pick up due to high cost 

Feb 27, 2019

M.S Chockalingam, settlement commissioner, Government of Maharashtra,said,though such a product is already made mandatory in the Act, the state government  has to notify the mandatory feature of the product separately.

True North acquires 51 % in Max Bupa Health Insurance from Max India

Feb 26, 2019

The all cash transaction values Max Bupa at an enterprise value of Rs. 1,001 crore and is subject to requisite regulatory approvals. Bupa, the existing joint venture partner in Max Bupa, remains committed to the joint venture and will continue to play an active role in the company as before through its Board positions and knowledge exchange initiatives.

At the conclusion of the transaction,True North will nominate directors on Max Bupa’s Board, while Max India’s nominated directors will step down. The use of the Max brand will be phased out over a period of two years and replaced with a suitable name. The Bupa brand name will continue as before.

Automation has SBI leaving 25% retirement vacancies open for tech

Feb 25, 2019

The board has come out with a five-year roadmap in 2018 to replace only 75 percent of the retiring employees every year, he said, adding an average of up to 10,000, including 8,000 clerks and 2,000 officers are being hired annually as replacements. 

Relief to e-wallets: RBI extends KYC compliance norms by six months

Feb 25, 2019

“Based on requests received from various stakeholders to increase the above timeline on account of difficulties in undertaking Aadhaar e-KYC and time necessary to put in place alternative systems for completing the KYC process, it has been decided to allow PPI issuers additional time of six months for completion of the KYC process,” the RBI said in a statement.

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