The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
The Securities Appellate Tribunal (SAT) has set aside capital markets regulator Sebi's order that imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding buyback of shares in 2014. Cairn India, which was merged with Vedanta Ltd in 2017, was accused of making a misleading public announcement designed to influence investors' decisions. "We hold that the violations of provisions of... the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations and... the Buyback Regulations are not proved against the company (Vedanta)," a bench consisting of Justice Tarun Agarwala and presiding officer Meera Swarup said.
Mutual funds (MFs) are seeing higher growth in new systematic investment plan (SIP) accounts in rural areas (beyond 30 or B30 centres) compared to the top 30 (T30) cities. However, the average inflows from these areas remain significantly lower than those from the larger centres. Data from the Association of Mutual Funds in India reveals that investors from B30 contributed Rs 1,725 on average to MFs through SIPs, which is 70 per cent lower than the average ticket size of T30 investors at Rs 2,940.
The Supreme Court, examining whether states can sub-classify the Scheduled Castes and Scheduled Tribes for the grant of a quota within a quota, said on Thursday that the state governments cannot be selective in granting reservation benefits to backward classes as it will lead to a dangerous trend of appeasement.
The Securities Appellate Tribunal (SAT) on Monday set aside the penalty imposed by Sebi on Reliance Industries Ltd's chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. The ruling has come after all the entities appealed before the tribunal against the order passed by the Securities and Exchange Board of India (Sebi) in January 2021. In January 2021, Sebi imposed a Rs 25 crore fine on Reliance Industries Ltd(RIL), Rs 15 crore on Ambani, who is the company's chairman and managing director, Rs 20 crore on Navi Mumbai SEZ Pvt Ltd and Rs 10 crore on Mumbai SEZ Ltd in RPL case.
The Securities Appellate Tribunal (SAT) on Thursday quashed a Sebi order that barred NDTV founders Prannoy Roy and Radhika Roy from the securities market for two years in an insider trading case. However, the appellate tribunal partly set aside an order against Vikramaditya Chandra, the group's chief executive officer during the relevant period, and remitted the matter back to Sebi to decide the issue. It further said that trades executed by Chandra during PSI-3 (price-sensitive information) are required to be reconsidered, according to the order passed by SAT.
Even after five decades of use, the telescope at Ooty that Dr Govind Swarup designed and built continues to be the largest single frequency radio telescope in the world.
After Chandrayaan-3 touched down on the Moon, the Congress on Wednesday said it is a collective success of every Indian and ISRO's achievement reflects a saga of continuity and is truly fantastic.
The most curious and 'in' red carpet trends from Cannes.
Efforts are being ramped up for massive production of vaccines and make them available in the shortest possible time, a top government official said on Wednesday, stressing that India currently has a promising pipeline of four-five Covid-19 vaccine candidates, while three have already been approved for emergency use.
The Indian equity market is likely to remain under pressure and rangebound over the next few months. This comes as global central banks, led by the US Federal Reserve look at a possibility of hiking rates aggressively to tame inflation. Back home, the Reserve Bank of India, too, remains data dependent in its endeavour to keep inflation in check and pursue an aggressive monetary policy stance.
Domestic mutual funds (MFs) have kept their faith in the Indian stock market despite multiple headwinds all through 2022-23 (FY23), with their net flows into equities crossing the Rs 1.5-trillion mark for the second consecutive financial year. MFs pumped a net Rs 1.53 trillion into equities till March 1, 2023, the Securities and Exchange Board of India (Sebi) data shows, as compared to Rs 1.72 trillion in FY22. Since FY15, MFs have been net buyers of equities, except in FY21, when they sold a net Rs 1.21 trillion.
Chief Minister Yogi Adityanath and several prominent faces among 676 candidates are contesting on 57 seats spread across 10 districts in the state.
Reliance Industries on Tuesday said it will acquire a majority stake in California-based solar energy software developer SenseHawk for $32 million (around Rs 256 crore). The acquisition of a 79.4 per cent stake in SenseHawk is part of the conglomerate's aggressive push into renewable energy to decarbonise its oil and chemical-dominated business. SenseHawk, founded in 2018, develops tools for the solar industry to help companies streamline processes and use automation. It had a turnover of $2.3 million in last financial year.
The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation. If raised, it will be the third consecutive hike in the repo rate -- the short-term rate at which the RBI lends money to banks. The central bank has already announced to gradually withdraw its accommodative monetary policy stance.
There has been no leak outside India, hence no re-examination will be held outside the country, he said.
State-owned Punjab & Sind Bank is targeting salary accounts to boost the share of low-cost deposits. Swarup Saha, managing director and chief executive officer of the New Delhi-based lender, tells Manojit Saha that the bank may see gross non-performing assets (NPAs) fall below 8 per cent if there is resolution of the stressed assets.
The Serum Institute of India, the largest vaccine maker in the world, has been chosen by Oxford and its partner AstraZeneca to manufacture the vaccine once it is ready. Trials results for the first two phases were published earlier this month.
Critics and audiences have been comparing Abhishek Bachchan in The Big Bull with Pratik Gandhi in Scam 1992.
Scientists, sci-fi, stand-up, suspense, take your pick of OTT this week. Sukanya Verma makes her recommendations:
Rediff readers share the importance of the heritage site.
Historically, India has never been expansionist in its outlook and her approach has always been of peaceful coexistence and one designed to deter the forces of terror and disruption.
Joginder Tuteja takes us through the February releases of 2022.
'A time will come when the white structure in Mathura that hurts every Hindu will be removed with the help of the court'
Baglay replaced Vikas Swarup, who was made India's new high commissioner to Canada.
'They will be able to ride over this immediate crisis and carry on, but they need to take corrective steps and these will have to be long term measures which must include working closely with state governments.'
The first nasal vaccine against COVID-19, developed by Bharat Biotech, has received regulator's nod for conducting phase 2 clinical trials, the Department of Biotechnology said on Friday.
Terrorism can be contained only with strong public support, Prime Minister Narendra Modi has said while appreciating the "template" set by the Bangladesh government in this regard after the terror attack in Dhaka in July.
Besides Vikrant Vir, the other suspended policemen are Circle Officer Ramshabd, Inspector Dinesh Kumar Verma, Sub-Inspector Jagveer Singh and Head Constable Mahesh Pal, Additional Chief Secretary (Home) Awanish Awasthi said.
External Affairs Ministry Spokesperson Vikas Swarup also welcomed appointment of South Carolina's Indian-American Governor Nikki Haley as US ambassador to the United Nations.
When several opposition MPs expressed their desire to ask questions about the Centre's vaccination policy such as increasing the gap between two doses, the BJP MPs strongly opposed it and few of them even demanded postponement of the meeting and walked out, the sources said.
A report in Pakistani media said Foreign Secretary S Jaishankar admitted to the German ambassador in New Delhi that there was no surgical strike.
India will allow locally registered foreign firms to mine and sell coal when commercial mining is permitted as part of the opening up of the nationalised industry after four decades, Coal Secretary Anil Swarup told Reuters.
In an interim relief, the Supreme Court on Thursday ordered the status quo and said the Delhi High Court-appointed three-member Committee of Administrators (COA) will not take over the affairs of the Indian Olympic Association.
The Delhi High Court on Tuesday directed the setting up of a three-member Committee of Administrators (CoA) to take over the affairs of the Indian Olympic Association (IOA).
India and Pakistan on Thursday deferred their foreign secretary-level talks to "very near future" even as government here welcomed the apprehending of Jaish-e- Mohammad members linked to the Pathankot terror attack and agreed to the visit of a Pakistani SIT.
India on Thursday reacted strongly to reports of Pakistan setting up a special group to "expose" New Delhi's alleged atrocities in Kashmir, saying it should focus its energies on "stemming the rot of terrorism instead of expending its breath" in making baseless charges.
Biological E has received approval for conducting phase II/III human clinical trial of COVID-19 vaccine candidate Corbevax on children above five years and adolescents, the Department of Biotechnology (DBT) said on Friday.
