According to Insurance Regulatory and Development Authority recommendations, a uniform grace period of 30 days is extended for annual, half-yearly and quarterly renewals, and 15 days for monthly renewals.
Regulator seeks clarification on transfer of convertible debt after merger
Life Insurance Corporation of India (LIC) on Friday got its first female managing director and another new MD.
Armed with fresh powers to conduct search and seizure operations and attach properties and bank accounts, the Securities and Exchange Board of India (Sebi) is going all out to use these effectively.
The Indian Nuclear Energy Pool, meant to insure risks from nuclear reactors, may take longer to be set up. While the idea of forming a pool was mooted earlier this year, it has reached a deadlock owing to differences among the stakeholders on certain clauses.
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
Reliance Power is at odds with the Securities and Exchange Board of India (Sebi) over the restructuring process involving its fully-owned subsidiary, Reliance Clean Power.
For FY14, the first full year of the law's implementation, the spend could go up to nearly Rs 8,700 crore (Rs 87 billion), given that India Inc's profitability has grown at a compounded 7.5 per cent annually in the past three years.
Directors that are shareholders will also face more problems.
The insurer plans to hire about 2,00,000 agents this financial year.
More than a decade after it entered the market, Naukri.com, Info Edge (India) Ltd's recruitment services portal, has about 50,000 customers and about 120,000 job listings.
Though public shareholding in Jet is already down to the mandated 25 per cent, the regulator wants its promoters to pare their stake further.
The rupee, which has depreciated about 23 per cent since May, has increased the loss ratios for the travel insurance segment.
While there has been a rise in obesity reduction surgeries, it may still take time before health insurance cover is made available for these.
HDFC Life, which posted a consolidated net profit of Rs 281.83 crore (Rs 2.81 billion) for the quarter ended June compared with Rs 11.92 crore (Rs 119.2 million) in corresponding period last year (according to HDFC's first quarter results), has diversified its distribution mix.
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A stumbling economy, a falling currency and high inflation, plus weak consumer demand, mean more and more become excess baggage.
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
The scrip of the company on Wednesday ended at Rs 695.80, up 2.7 per cent, on BSE, while the benchmark Sensex ended flat at 19,345.70. Just Dial shares had seen a record high of Rs 761.80 on July 9.
New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch
Commercial papers, certificates of deposit also dry up
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