'Today, we have 2 million active drivers earning through our platform every month.'
The Cabinet on Thursday approved 49 per cent foreign investment in insurance companies through the Foreign Investment Promotion Board route ensuring management control in the hands of Indian promoters.
The CPI (M) members seemed determined to thwart the bill, aimed at increasing the FDI limit in the insurance sector. As Minister of State for Finance P K Bansal rose to introduce the Insurance Laws (Amendment) Bill, 2008, CPI (M) member T K Rangarajan tried to grab the copy of the bill from him. An agitated-looking external affairs minister Pranab Mukherjee pushed Rangarajan to protect Bansal. Another minister Meira Kumar rushed to shield Bansal, who introduced the bill.
The Supreme Court of India will examine the age limits for surrogate mothers and other provisions of the Surrogacy Regulation Act and Assisted Reproductive Technology (Regulation) Act on February 11. The court has asked the government to file its written submissions on the matter. The laws set age limits for intended parents and surrogate mothers, restricting commercial surrogacy and emphasizing altruistic surrogacy. The court is also considering alternative mechanisms for compensating surrogate mothers and has proposed a designated authority for disbursing payments instead of intended couples.
Many other companies have expressed intent of diluting stakes.
The existing rules under the insurance laws prescribe a 10-year minimum period before insurance companies can list their shares.
The National Commission ruled that the insurance policy is deemed to be automatically transferred to the purchaser when the vehicle is registered in their name.
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
Prime Minister Narendra Modi asserted on Tuesday that India's water will no longer flow outside the country but will be utilized in the nation's interest, a statement seemingly directed at Pakistan following his government's decision to put the Indus Waters Treaty in abeyance after the Pahalgam terror attack. Addressing the ABP Network's 'India@2047' Summit, Modi emphasized his government's focus on interlinking rivers, noting that water used to be a source of conflict among states, before alluding to India's stance against Pakistan while discussing water. He highlighted the finalization of the India-UK free trade agreement as a historic milestone and underscored the importance of prioritizing national interest for achieving objectives and realizing the country's potential. Modi highlighted the country's growth and development under his government's rule, emphasizing its focus on welfare schemes and digitalization. He reiterated his government's commitment to 'Nation First' and pointed to the recent reforms undertaken, including the new Waqf law and the ban on triple talaq, which he said were aimed at benefiting the marginalized sections of society.
Chief Minister-designate Rekha Gupta and her Council of Ministers will take oath at the Ramlila Maidan on Thursday afternoon in the presence of Prime Minister Narendra Modi, marking a return of the BJP in Delhi after 26 years.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
An insurance company is liable to pay compensation to the accident victim's kin even if the driving licence of the offending vehicle's driver has expired and not renewed, as an expired licence would not make him an unskilled driver, the Bombay high court has said.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The insurance Bill seeks to increase the cap on shareholding of foreign investors
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
Market downturns or regulatory shifts can reduce liquidity, making it harder to buy or sell assets when needed.
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The new Insurance Bill may be implemented in 2015.
The Cabinet had had approved promulgation of the Ordinance on Insurance Bill and re-promulgation of the Coal Ordinance on Wednesday, a day after the conclusion of the Winter session of Parliament.
Currently, the select committee is considering the Bill.
SBI Life Insurance is a joint venture between SBI and BNP Paribas Cardif.
The Supreme Court on Thursday dismissed a batch of pleas seeking to review its October 2023 verdict declining legal sanction to same-sex marriage.
'This government has done positive things, we got the Transgender Persons (protection of rights) Act under this government. Dheere-dheere hota hai.'
A five-judge bench of the Supreme Court will consider review pleas challenging the October 2023 verdict that declined legal sanction to same-sex marriage. The review pleas will be heard in chambers on January 9, with Justice P S Narasimha being the only member of the original bench that delivered the verdict.
The judgment from a five-judge Constitution bench, led by Chief Justice DY Chandrachud, offers clarity on licensing regulations and is expected to prevent insurance companies from rejecting claims based on the type of licence of drivers involved in accidents.
The insurance sector is going to get a big boost.
The Insurance Regulatory and Development Authority of India (Irdai) will look at Indian executives for all top posts at insurance companies.
Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
The newly-formed Delhi Cabinet in its first meeting approved the implementation of the Ayushman Bharat health insurance scheme in the national capital. The cabinet also decided to present 14 pending CAG reports in the first session of the assembly. Delhi Chief Minister Rekha Gupta said that the previous AAP government did not allow the health scheme in the city, preventing the people from availing its benefits.
Rekha Gupta had the support of the RSS, which actively participated in the Delhi assembly poll campaign to help the BJP win.
With such announcements grabbing the voters' attention, critical issues like pollution, especially the smog that chokes Delhi every winter, remain largely unaddressed. Many residents have raised concerns over the lack of concrete action plans to combat air pollution, which continues to pose a severe health risk to Delhiites.
A Parliamentary Committee on Wednesday recommended a composite foreign investment cap of 49 per cent in the insurance sector and supported a government Bill to amend the Act.
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Foreign investment cap in insurance sector raised to 49 per cent.
A proposal to hike the FDI cap in the sector was first mooted by the previous UPA government.
The Delhi high court reserved on Wednesday its order on Chief Minister Arvind Kejriwal's pleas challenging his arrest by the Central Bureau of Investigation (CBI) in the excise policy case and seeking interim bail.
Students from de-notified tribes, nomadic tribes and semi-nomadic tribes will receive coaching fees of up to 1,20,000 and additional benefits for preparing for entrance examinations such as JEE, NEET, CLAT and the NDA.
The Income-Tax Department on Sunday cautioned taxpayers that failure to disclose assets held abroad or income earned in foreign shores in the ITR can attract a penalty of Rs 10 lakh under the anti-black money law. The department issued a public advisory as part a compliance-cum-awareness campaign launched recently by it on Saturday to ensure that such information is reported by the assessee in their Income Tax Return (ITR) for assessment year (AY) 2024-25.
From the 30-share blue-chip pack, Zomato surged over 7 per cent. Maruti, ITC Hotels, ITC, Mahindra & Mahindra, Asian Paints, Titan and IndusInd Bank were among the biggest gainers. Power Grid, Larsen & Toubro, NTPC, UltraTech Cement, HCL Tech, Tech Mahindra, Infosys and Adani Ports were among the laggards.
'Unless a comedian is involved in something society deems unforgivable...'
Till June-end alone, insurance regulator is expected to bring about more than half a dozen reforms that will have a significant impact on the customer.
