Penalty for unapproved policy changes allegedly reduced from Rs 17,500 crore to Rs 20 lakh
Penalty for unapproved policy changes allegedly reduced from Rs 17,500 crore to Rs 20 lakh
It will bring in more transparency and reduce mis-selling
A customer can also appoint a surveyor on his own expense
Kunnal Prem, chief executive officer of the Insurance Information Bureau of India, tells Mayank Jain on what they're doing.
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.
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
By April, operational guidelines for the scheme will be finalised and shared with states
Cost is not the only factor that one should look at. It's best to keep investment and insurance apart
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
Indian regulators have identified certain groups as 'financial conglomerates' and they are being monitored closely for any systemic risks they may pose.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
Managing expectations is a challenge for policymakers.
Health insurance has almost 23 per cent market share in the general insurance space.
While regulators are trying to do their bit, the onus is on you to prove it.
State Bank of India, UTI AMC and Life Insurance Corporation will start investing the corpus of the new pension system (NPS), estimated around Rs 2,000 crore (Rs 20 billion) now, in market instruments including 15 per cent in equities from end-June 2008.
The applicant must have an operational savings bank account.
Much of the tardy reaction to competition is the result of LIC's legacy.
'The two-word answer is: Proper oversight,' says T N Ninan.
'The government wants foreign companies to capture the insurance market.'
Ramalingam Kalirajan explains the pros and cons of both investment types.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
Navratri and Onam saw flat sales, but industry hopes to turn the corner with a cracker of a Diwali.
Entities reluctant to get into new segment till settlement and margin issues are addressed
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
Finance ministry asks bank, insurance & market regulators to issue notifications
The Financial Stability and Development Council meeting on Tuesday started with an air of tension in the room. An official present described the participants' body language as "tetchy". However, once presentations and discussions begun, the mood considerably eased.
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
On May 16, the leads will start trickling in from morning but the final result is likely to come only after 3.30 pm, beyond trading time for the equities segment in India.
This gains importance in the backdrop of speculation on a second term for Raghuram Rajan.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
Whether this happens because DGCA actually cares about the future of the national carrier or for other motives is not clear.
The failed deals could be the much-needed wake-up call for the M&A space.
Principal economic advisor, Ila Patnaik, is coordinating the work on Economic Survey 2013-14.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
The sector faces many challenges and calls for prompt corrective action.
Merging tribunals may lead to administrative convenience, but pendency of cases is likely to increase
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