'We have restored it in full glory and it now stands as a testimony to BijuBabu's daredevilry.'
Hari Narayan said the proposed IPO guidelines for non-life insurance firms were in the process of finalisation before they were sent to SCADA, a body constituted by Securities and Exchange Board of India, for approval followed by a final approval from the market regulator.
India on Monday launched 'Operation Kaveri' to evacuate its nationals from violence-hit Sudan.
Senior bureaucrat Pradip Kumar Tripathi has been appointed as secretary (coordination) in the Cabinet Secretariat as part of a major bureaucratic reshuffle effected by the Centre on Monday.
The healthcare industry on Friday asked the government to revamp the foreign direct investment and capital adequacy norms for health insurance entities to make world-class medical treatment available to Indians and make the country a healthcare hub i
'They can transition from short to long-duration funds when the yield curve normalises.'
The COVID-19 positivity rate in the national capital has jumped from 0.5 per cent to 5.33 per cent in two weeks.
The draft regulations for the new pension scheme likely to be out by September first week is expected to recommend fixing minimum base capital for pension fund management companies less than that stipulated for insurance companies.
The government is unlikely to come up with the IPO of Life Insurance Corporation (LIC) in the current financial year ending March 2022, as the valuation of the state-owned behemoth is taking more than anticipated time, and the preparatory work is still far from complete. There are still some issues that need to be addressed with regard to the valuation of LIC, a senior official of one of the merchant bankers said. Even after the valuation, there are several regulatory processes that have concluded, the official said.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
China on Wednesday reported cases of an Omicron subvariant surfacing in Beijing and Shaanxi province as the Chinese capital announced new measures, making it mandatory to show proof of vaccination for people entering public places.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
To reduce the solvency margins on term products and make these products cheaper & popular, The Insurance Regulatory and Development Authority has decided to reduce the solvency margins on term products. Since the term insurance policies provide pure life cover with no maturity/survival benefits they haven't gained popularity with the customers. Insurers currently maintain a solvency margin of 150%. Solvency margin requirements are the prudential norms of capital requirements.
Soon standalone health insurance companies will be governed by separate regulations
As the tussle for control of the Nationalist Congress Party hotted up after its vertical split, Sharad Pawar on Thursday declared he was the president of the party and hit back at nephew and Deputy Chief Minister Ajit Pawar's retirement jibe, saying he will work more effectively "whether 82 or 92."
Hundreds of fisherfolk, including women, reached the area via road and sea and broke open the lock of the gate of the project site, raising slogans.
IFC will act as a transaction advisor for the projects to be developed in the public-private partnership mode.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
Being a member of the World Trade Organisation and General Agreement on Trade in Services, India will have to lift restrictions on foreign capital in insurance.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
One year after the Insurance Regulatory and Development Authority's (Irda) allowed insurance companies to invest in venture capital (VC) funds, no insurer has shown interest in funding VCs.
Taking a cue from Zomato's stellar initial public offering (IPO), through which it garnered a valuation of Rs 1 trillion, the government has asked its advisors and valuers to ascertain if the Life Insurance Corporation of India (LIC) should be valued at Rs 10 trillion or more. The government is looking to offload about 10 per cent stake in LIC through the IPO. At that valuation, the government stands to net at least Rs 1 trillion from LIC's proposed IPO, which will boost the Centre's efforts to meet its disinvestment target of Rs 1.75 trillion for the current financial year.
IRDA eased norms by allowing PSUs and private companies with a capital of Rs 0.1-3 crore to bargain for a special discount of 5% in exchange of agency commission or brokers remuneration, when they cover their risks directly with a general insurer.
The latest round of funding values the company at $10.7 billion, almost doubling it from the $5.5 billion valuation during the $1.25 billion fund raise in July 2021 when investors including SoftBank, Prosus and Accel pumped in capital in what was the company's biggest funding since its inception. The other new investors in the latest round of funding include Baron Capital Group, Sumeru Venture, IIFL AMC Late Stage Tech Fund, Kotak, Axis Growth Avenues AIF- I, Sixteenth Street Capital, Ghisallo, Smile Group and Segantii Capital, Swiggy said in a statement.
India will require a total investment of $10.1 trillion to achieve net-zero emissions by 2070, while the nation could face a shortfall of $3.5 trillion, a study by CEEW Centre for Energy Finance (CEEW-CEF) said. At the recently concluded COP26, Prime Minister Narendra Modi announced India's aim to achieve net-zero emissions by 2070. "India would need cumulative investments of $10.1 trillion to achieve net-zero emissions by 2070, according to an independent study released today by the CEEW Centre for Energy Finance (CEEW-CEF)," a statement said.
Insurance Regulatory and Development Authority would favour raising the foreign equity cap in the Indian insurance sector from 26% if the Indian promoters fail to enhance the capital base required to sustain the high growth of the sector.
Govt to harness Delhi's private hospitals to cover 3 lakh Delhiites falling under the poverty line.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
Career bureaucrat Anil Baijal was on Wednesday appointed as the new Lt Governor of Delhi, a post which has fallen vacant after sudden resignation of Najeeb Jung.
As a part of the 235 km Dallirajhara-Rowghat-Jagdalpur railway project, Antagarh, which has a Nagar Panchayat, is now connected to state capital Raipur by a train service.
Delegates of all G20 countries, barring China, arrived in Srinagar on Monday for the third working group meeting on tourism -- a much-anticipated event for which authorities have made extensive security arrangements and spruced up the summer capital of Jammu and Kashmir.
As the Kejriwal empire spreads, will he be able to keep the momentum going? And will it be at the cost of greater centralisation of authority in the party, asks Aditi Phadnis.
There is widening gap between what the government's premier retirement fund makes on its investments and what it offers to employees. The Employees' Provident Fund Organisation (EPFO) makes the bulk of its investments in government-related securities. In other words, it lends to central and state governments and related entities. The interest it gets from these instruments is largely what it uses to pay interest to its subscribers.
China plans to build a new highway along the Line of Actual Control (LAC) with India as part of Beijing's efforts to strengthen its strategic position and project its power, a media report said on Wednesday.
Wang Guangfa, a respiratory expert from Peking University First Hospital, warned that Beijing may experience a spike in severe COVID-19 cases over the next fortnight.
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
"After the order, GUDA has started the work of reopening the shops," advocate for the shop owners Pinakin Rawal said.
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