As of March 25, life insurers have paid Rs 1,986 crore towards 25,500 Covid death claims
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
'We will be looking to prune our portfolio to make GIC Re a healthier entity.'
Holidayers, including those who would head overseas between April and June, are set to escape to the hills, beaches, and resorts in the country. This is to fend off the heat and beat the pandemic blues, indicates the initial bookings and online search trends.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
The ministry and the civil aviation regulator have said the government will consider the airline's request for slots as per existing policy.
The bone of contention between the two sides relates to changes in the purchase terms.
The new offer is part of its strategy to turn India to an exclusively 4G market.
Sources at Mumbai airport said seat occupancy has declined from around 70-72 per cent to 60-64 per cent in last three-four days as passengers are postponing or cancelling trips.
The product, named Saral Suraksha Bima, will have a maximum sum assured of Rs 1 crore and minimum Rs 2.5 lakh.
Here's what some states are doing to get a grip on the situation. Ruchika Chitravanshi & Aneesh Phadnis report
The exchange cited issues with its telecom service providers that prevented stocks and index quotations from getting updated.
Maharashtra's Labour Minister Dilip Walse-Patil has sought a written submission from the General Motors' (GM) Employees Union and the management of the company detailing its stance on the issue of plant closure. The labour minister asked the warring sides for submission at a hearing on Tuesday. Both sides have been given a week's time to reply.
Hit hard by volatility in yarn prices, 50% of the looms said to be operating only 3-4 days a week.
With inflation under control, the Monetary Policy Committee's (MPC's) job is to support growth because the economy had recovered well from the lows in the initial months of the pandemic, according to the panel's members, who met in the first week of this month. The minutes of the meeting show the Reserve Bank of India (RBI) governor in his statement said: "Given the sharp moderation in inflation along with a stable near-term outlook, monetary policy needs to continue with the accommodative stance to ensure that the recovery gains greater traction and becomes broad-based." Ashima Goyal, external member of the MPC, said: "The current macroeconomic configuration and its expected future evolution imply there is space for the MPC to continue to support the revival of the economy with inflation remaining in the target band."
A committee of creditors had, in October, approved of the resolution plan submitted by UAE businessman Murari Lal Jalan and Kalrock Capital.
Online travel portals and airlines say the demand from companies is being led by essential services sectors like pharmaceutical, oil and gas, and power.
While it took UPI three years to reach a billion transactions in a month, the next billion came in just a year. Digital payments, especially UPI, saw increased adoption in 2020 due to the Covid-19 pandemic.
Digital lending apps extend small amounts at exorbitant rates. Payment delays invite messages to customer or close family members, often with sensitive information such as Aadhaar and PAN Card scans.
Railway employees including station masters, engine drivers, ticket checkers, etc too have been selected for vaccination and their list is being compiled for the exercise.
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