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Maruti’s Breeza & Tata’s Nexon clear crash tests with Stars
David Ward, Global NCAP Secretary-General, said,“The four star result for Maruti Suzuki’s Vitara Brezza is really impressive. It demonstrates clearly the safety engineering capabilities of India’s leading vehicle manufacturer. It also shows the beneficial effects of the Indian Government’s new crash test standards helping to raise levels of vehicle safety. We are getting very close now to seeing India’s first five star car. In contrast the zero star Renault Lodgy is extremely disappointing. Global NCAP had hoped that Renault had learned from the difficult experience they had with the Kwid. It’s time now for Renault to make front air bags standard across their entire Indian product range. “
IRDA approves revised reinsurance regulations
The revamped regulations aim to ensure that maximum reinsurance business is retained within the country and preference would be given to Indian domiciled entities — with the first right of refusal lying with the GIC Re and then cascading down to foreign reinsurers (FRBs) and other ‘Indian reinsurers’. The spillover should be placed with cross border reinsurers (CBRs), fulfilling certain laid-down criteria.
Aadhaar not mandatory for opening bank accts, insurance policies & mobile connections:SC
The Court struck down down section 57 of Aadhaar Act preventing the use of Aadhaar number for establishing the identity of an individual for any purpose, whether by the State or any body corporate or person. “Minimal demographic & biometric data of citizens are collected by the UIDAI for Aadhaar enrolment. Aadhaar number given to a person is unique & can’t go to any other person” said the SC. Now, Aadhaar cannot be mandatory for mobile connections but is maded mandatory for Income Tax returns.
Premji Invest & Axis AMC buy 4% in SBI Gen Insurance for Rs 482 cr
Confirming the development Pushan Mahapatra, MD & CEO, SBI General Insurance, and said that now his company will approach the sectoral regulator, IRDAI for its approval for the two deals.
He hoped that the company would get listed somewhere during the next fiscal.For the deal, SBI General has been valued at Rs 12,000 crore.
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