Indian News

Surging gold prices in India are keeping customs officials on their toes

Eco/Invest/Demography, Wealth Management       Dec 13, 2019

  New Delhi:. Illegal inflows have jumped after the Indian government increased import taxes in July and prices surged to record highs in September. Customs officials have arrested people for attempting to smuggle in gold by concealing it in bags, clothes and their rectums. On one...

Bhatnagar & Deepak P jointly to discharge the function of GIC Re CMD

Reinsurance       Dec 12, 2019

  Mumbai: With effect from 10th December, the ministry of finance(MoF), has asked  Reena Bhatnagar, general manager, GIC Re and and Deepak Prasad, GM, GIC Re to jointly discharge the function of the chairman cum managing director(CMD) of GIC Re.   This joint-in-charge at the state owned...

Insurers and brokers can't set up TPAs as promoters:IRDAI

Health, Intermediaries, Non-Life, Regulation, Reinsurance       Dec 12, 2019

  Hyderabad: In a surprise move,the insurance regulator IRDAI has banned  the entry  of- any insurer or insurance broker or any entity having interest in insurance into Third Party Administrator (TPA) business.TPAs function as intermediaries between the insurance provider and the policyholder and its key function...

S&P ratings sees debt downgrade for India if economic slide continues

Eco/Invest/Demography       Dec 11, 2019

  Mumbai: Sovereign bonds slid after the report, with the yield on the benchmark 10-year note rising 5 basis points to 6.76 per cent.   The rating company said it expects the economy to gradually recover over the next few years with correspondingly higher growth.   ”If this...

IRDAI seeks suggestions from industry players on FDI hike

Eco/Invest/Demography, Life, Non-Life       Dec 10, 2019

  Mumbai: Expecting that the government may raise foreign direct investment (FDI) from 49 per cent to 74 per cent in the forthcoming Budget, shares of many insurance companies and GIC Re have gone up on Tuesday.    In the morning trade on Tuesday, HDFC Life Insurance...

Passenger vehicle sales decline marginally in November

Eco/Invest/Demography, Non-Life       Dec 10, 2019

New Delhi: Domestic passenger vehicle sales declined 0.84 percent to 2,63,773 units in November from 2,66,000 units in the year-ago period.   Domestic car sales were down 10.83 percent to 1,60,306 units as against 1,79,783 units in November 2018, according to data released by the Society...

500 electric cabs to hit Delhi roads this month to combat air pollution

Eco/Invest/Demography, Health, Technology       Dec 09, 2019

  New Delhi: A city-based start-up plans to come up with a fleet of electric vehicle cabs across Delhi-National Capital Region this month to combat air pollution. 'Prakriti E-Mobility Private Limited' will introduce 500 electric vehicles in the first phase and hopes to touch the 5,000-mark...

India climbs one spot to 129th in 2019 human development index: UNDP

Eco/Invest/Demography       Dec 09, 2019

  New Delhi: India climbed one spot to 129 among 189 countries in the 2019 human development index, according to a report by the United Nations Development Programme (UNDP).   In India, 27.1 crore people were lifted out of poverty from 2005-06 to 2015-16, UNDP India resident...

Anti-Maritime Piracy Bill introduced in Lok Sabha

Eco/Invest/Demography, Non-Life       Dec 09, 2019

New Delhi: A bill which seeks to provide for stringent punishment, including death penalty or life imprisonment, to those involved in piracy at sea was introduced in Lok Sabha on Monday. Shashi Tharoor (Cong) opposed The Anti-Maritime Piracy Bill at the introduction stage saying, the...

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