Indian News

Raising insurance coverage to 90pc to help cut exporters'' cost: SBI chief

Eco/Invest/Demography, Non-Life       Feb 20, 2020

  Mumbai: Facing difficulties in making recoveries from exporters, SBI Chairman Rajnish Kumar on Thursday called for changing the way export finances are done and suggested that enhancing the insurance coverage to 90 per cent can help reduce exporters' cost and boost their business.   "The method...

Axis bank may pick up 20%-30% stake in Max Life

Banking & Bancassurance, Life       Feb 20, 2020

  Mumbai: Axis Bank, Max Financial Services Limited (MFS) and its subsidiary Max Life Insurance Company Limited (Max Life) today signed a confidentiality and exclusivity arrangement to explore the possibility of Axis Bank picking up 20 per cent -30 per cent in Delhi based Max Life.   ...

Can transport minister come to explain govt proposal for introducing EVs, asks SC

Eco/Invest/Demography, Non-Life       Feb 19, 2020

  New Delhi: The Supreme Court Wednesday expressed desire to interact with the Transport Minister Nitin Gadkari on the proposal for gradual conversion of all public transport and government vehicles into electric vehicles (EVs) to curb air pollution.   The apex court, however, did not seek presence...

Coronavirus outbreak to have limited impact on India, says RBI Governor

  New Delhi: The coronavirus outbreak will have a limited impact on India but the global GDP and trade will definitely get affected due to the large size of the Chinese economy, RBI Governor Shaktikanta Das has said.   Only a couple of sectors in India are...

Cabinet makes Pradhan Mantri Fasal Bima Yojana voluntary for farmers

Eco/Invest/Demography       Feb 19, 2020

  New Delhi: Ravamping the existing Pradhan Mantri Fasal Bima Yojana (PMFBY), the Union Cabinet,chaired by the Prime Minister Narendra Modi,on Wedenesday, among other things, has decided to make the scheme voluntary for the bank lonee farmers.   Under the PMFBY, which was unveiled by Prime Minister...

(L-R) Bhargav Dasgupta, MD & CEO, ICICI Lombard GIC,Sunil Sharma, President, Institute of Actuaries of India and S C Khuntia,chairman, IRDAI at the 21st Global Conference of Actuaries in Mumbai

No plans to make listing mandatory for insurers:IRDAI chief 

Life, Regulation       Feb 18, 2020

Mumbai: Insurance watchdog Irdai is yet to get any proposal from life insurance behemoth LIC on an initial public offering but feels a listing is better from a governance perspective, chairman S C Khuntia said on Tuesday.   He also said that there is nothing for...

Paracetamol prices jump 40% in India as coronavirus epidemic shuts down China

NEW DELHI : The world’s second-most populous nation is facing the ripple effects of shutdowns in China with production of medicines to mobile phones being hit as supply chain disruptions prolong.   Prices of paracetamol, the most commonly used analgesic, have jumped by 40% in India,...

Coronavirus could hamper $2.24 billion in Indian solar projects: Crisil

Eco/Invest/Demography, Non-Life, Reinsurance       Feb 17, 2020

  Mumbai: Indian solar power projects worth $2.24 billion are at risk of higher costs, including fines, due to the coronavirus outbreak in China -- a major supplier of modules, the local arm of ratings agency Standard and Poor's said on Monday.   Nearly three-gigawatts of solar...

No proposal to merge LIC Housing Finance with any other entity: LIC

Banking & Bancassurance, Life       Feb 17, 2020

  Mumbai: Life Insurance Corporation on Monday said there is no proposal to merge its subsidiary LIC Housing Finance Ltd (LICHFL) with any other entity.   The statement came after some reports suggested that insurance behemoth LIC might expedite the process of merging LICHFL with its banking...