Indian News

Non-life insurance cos register 22 pc growth in gross premium at Rs 17,310 cr in Apr

Health, Non-Life       May 10, 2021

  Mumbai: Led by state owned New India Assurance, the gross direct premium written by non-life insurance companies rose by over 22 per cent in April this year to Rs 17,309.54 crore, as per regulatory data. All the 33 insurance companies in the non-life segment had...

Insurers can't deny Carona covers to customers: IRDAI

Health, Life, Non-Life, Pandemic, Regulation       May 10, 2021

  Hyderabad: The insurance rgulator IRDAI has reminded the the insurers that they can't  deny, including renewals  carona specific covers to any customers,     Suresh Mathur, executive director, IRDAI, has written a letter to all insurers, on Monday, in this regard saying that the IRDAI is in...

Universal pricing system for COVID-treatment introduced in pvt hospitals: Kerala govt tells HC

Eco/Invest/Demography, Health, Non-Life, Pandemic       May 10, 2021

  Kochi: Days after the Kerala High Court expressed concern over the high fees levied by private hospitals on COVID-19 patients, the State government said on Monday it has put a cap on the charges and introduced a universal pricing system for its treatment. The state...

Budget heading for vaccination expenditure does not inhibit Centre from using funds: FinMin

Eco/Invest/Demography, Health, Pandemic       May 10, 2021

  New Delhi: The finance ministry on Monday said provisioning Rs 35,000 crore-expenditure for vaccines in the Union Budget for FY22 under the title 'Transfers to States' does in no way inhibit the central government from using the funds to buy COVID-19 shots. The amount of...

No judicial interference needed in Covid-19 vaccine policy: Centre tells SC

Eco/Invest/Demography, Health, Non-Life       May 10, 2021

  New Delhi: In a late night affidavit submitted in the Supreme Court, the Centre defended its Covid vaccination policy, which has been criticised for differential pricing, shortage of doses, and slow rollout. An overwhelming majority of countries are not making people pay from their own...

2,118 branches of state-run banks closed or merged in last fiscal: RTI

Banking & Bancassurance       May 10, 2021

  Mumbai: As many as 2,118 branches of 10 public sector banks have either been closed or merged with other banks in the last fiscal, according to an RTI reply. The highest number of 1,283 branches of Bank of Baroda were either closed or merged, according...

Insurance, MF players cut equity investments in Q4; LIC booked profits

Eco/Invest/Demography       May 10, 2021

  New Delhi: Insurance behemoth Life Insurance Corporation (LIC) opted for profit-booking by selling its equity stakes in companies during the March quarter, a report said on Monday. The IPO-bound company's stakes in 296 companies where it holds over 1 per cent stake slipped to an...

Investors brace for market fallout as most of India's states lock down

Eco/Invest/Demography, Health, Pandemic       May 10, 2021

Mumbai: Investors are bracing for market fallout as state after state locks itself down in India to contain the spread of the coronavirus as infections and deaths surge. More than two thirds of states are shut if assessed by their contribution to national output, analysts...

Total vehicle registrations in India slips 30 pc to 1,52,71,519 units in 2020-21: FADA

Eco/Invest/Demography, Health, Non-Life, Pandemic       May 10, 2021

  New Delhi: The total vehicle registrations in India fell by 29.85 per cent to 1,52,71,519 units in financial year 2020-21, the lowest in the last eight years, the Federation of Automobile Dealers Associations (FADA) said on Monday. Total vehicle registrations were at 2,17,68,502 units in...

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