Come October, life insurers may have to tighten their underwriting standards further for retail term plans at the behest of one of the largest reinsurers in the Indian insurance market, Munich Re. According to a source aware of the development, "Munich Re has been studying long-term mortality trends for the past few years, and has suggested some tightening in the underwriting process." "As far as financial underwriting is concerned, the reinsurer has suggested that insurers should ask for additional documents. "For example, apart from income proof, they can ask for bank statements of the prospective customer before issuing policies," added the source.
India Inc is seeking at least quarterly interactions with senior government representatives to establish a channel of communication and help change the opinion at the highest level.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
Ajit Doval is now India's all-powerful security boss. This concentration of power disrupts our layered security system. Will it not weaken whatever remains of the power and authority of the home, defence and finance ministers? asks Shekhar Gupta.
'While the poor have little say in shaping India's intellectual or public discourse, they do have a significant role in deciding political outcomes,' points out Roshan Kishore.
While salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the "super-specialised" profiles can go beyond 15%.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
Former Santosh Trophy National Football Championship player, E Hamsakoya, who had tested positive for COVID-19, succumbed to the virus early Saturday at a hospital in Malappuram, taking the toll due to the infection in the state to 15. Native of nearby Parappanangadi, Hamsakoya (61) had settled in Mumbai. He and his family had come down to his hometown on May 21 and had been under quarantine.
With social distancing in customer's mind coupled with the government's push to further normalise business conditions and banks becoming more considerate to finance vehicles, entry level passenger vehicles saw good demand.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
Lenders have become worried as some dealers were not using the money provided to them for car financing.
'A growth of above 7 per cent when the fundamentals of the economy are becoming stronger still makes India the fastest growing large economy.'
Despite various challenges, the past year was a good one, says Bruce Cleaver, chief executive officer of the De Beers Group, the global corporation that has been the leading one in all aspects of the diamond trade for over a century.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
The minister assured the families that the people would be airlifted as soon as possible.
December 2022 could be the last Christmas for Santha Bakery, a business drawing its lineage from the first Christmas cake baked in Kerala.
A customer wanting to buy a car would have to wait a long time for delivery.
26 chartered accountants associated with such shell companies have also been identified
Sitharaman also directed public sector bank heads to clear long pending vigilance cases against their officials for alleged malpractices.
'As his close associate Som Pal told me, "Mandal was never V P Singh's brainchild. It was a Janata Party commitment he inherited".' 'He would have done it anyway at some point, but the specific timing of his decision was dictated entirely by political exigency -- his government was threatened.' 'It also turned out to be a game changer in Indian politics.'
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
As per the comprehensive format devised by the government, the selected candidates, besides being asked to provide information about themselves, their family members, including in-laws, have to provide information about the mobile numbers used during the last five years, the registration number of vehicles owned or used, email and social media or web-based portal accounts, in addition to bank and post office account numbers among others.
In India, the company serves customers such as stock exchanges, brokers, non-banking financial companies, financial services and insurance, IT and IT-enabled services.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Free speech is the soul of a great university. By compromising on it, the founders have bartered away its soul, said Rajan.
Over the past 25 years the MF industry has come a long way. Geographic reach has increased, many more customers have been added, more channels have been opened up and the product basket is full.
Between December 2013 and August 2016, Gannamaneni abused his position as a senior software consultant at the investment bank and accessed sensitive, highly-confidential information concerning at least 40 mergers, acquisitions, tender offers
Report says gold being exported by persons of Indian origin and routed through Dubai
'We will see footfall returning to pre-COVID levels by January.'
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
The Supreme Court Wednesday flagged the issue of possible misuse of funds received through electoral bonds by political parties for illegal purposes like terrorism and asked the Centre whether there was any 'control' over how these funds were put to use.
The India Army troops rose to the occasion to the challenges along the northern border as likely contingencies and possible options were war-gamed beforehand, Army Chief Gen M M Naravane said on Wednesday, referring to the eastern Ladakh standoff with China.
'As banks grapple with risk aversion and savers see an erosion in the value of money, the P2P platform can be a win-win for both borrowers and lenders,' notes Tamal Bandyopadhyay.
Modi had also said recently that there is a need to administer "bitter medicine" to revive the ailing economy.
The airline shut shop in October 2012.
'It is especially discouraging for young people in the development sector. I've noticed that many of them are actively considering other career options to escape this atmosphere.' Geetanjali Krishna reports.
Ten trade unions with a combined membership of 15 crore workers in public and private sector, including banks and insurance companies, are on a nationwide strike to protest against changes in the labour laws.
India's full membership of the grouping would extend its reach to the Central Asian region in whose peace and stability it is a major stakeholder, says Sana Hashmi.
10 central trade unions have called a nationwide shutdown against 'anti-worker policies' of the central government. Apart from being successful in Bengal, Kerala and NE states, the bandh has also got support from Cong leader Rahul Gandhi and Shiv Sena in Maharashtra.
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