The vigilance department of the Insurance Regulatory and Development Authority is looking into such complaints in Rajiv Gandhi Shilpi Swasthya Bima Yojana, Weather Insurance Scheme, Shetkari Apghati Durghatana Bima Yojana and Panjikrut Kishan Durghatana Bima Yojana, according to a letter written by IRDA to Finance Ministry on its ongoing probe.
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 joint venture of Punjab National Bank, Vijaya Bank, Berger Paints and the United States-based Principal Group has evinced interest to the interim Pension Fund Regulatory and Development Authority for foraying into the green-field sector.
The Centre is likely to cut budgetary support to the railways by around Rs 5,000-10,000 crore for 2018-19, out of the total budgeted GBS of Rs 53,060 crore. Due to this cut in GBS, the railways is likely to depend more on borrowings, asset monetisation, and internal generation to meet the capex target of Rs 1.465 trillion for the current year.
Foreign direct investment in the pension sector is likely to be pegged at 26 per cent initially and six players with at least one public sector undertaking would be allowed to operate as pension fund managers.
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
Finance ministry asks bank, insurance & market regulators to issue notifications
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
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.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
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.
'The government wants foreign companies to capture the insurance market.'
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.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
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.
This gains importance in the backdrop of speculation on a second term for Raghuram Rajan.
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.
The failed deals could be the much-needed wake-up call for the M&A space.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
Principal economic advisor, Ila Patnaik, is coordinating the work on Economic Survey 2013-14.
Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19, the National Statistical Office (NSO) said in a report.
Merging tribunals may lead to administrative convenience, but pendency of cases is likely to increase
Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
The choice should depend on the size of the retirement corpus, stage in life, and state of health.
The sector faces many challenges and calls for prompt corrective action.
While there's tax arbitrage advantage in ULIPs now, experts say investors should prefer mutual funds for long-term savings.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19.
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
Buying medical insurance? Make sure that you know what you are getting and what you are not.
Use whole life term policies for legacy planning. By doing so, your annual outgo will come down and returns will improve, suggest Chirag Madia and Tinesh Bhasin.
Inter-ministerial programmes have run into obstacles as rules written by bureaucrats hamper rather than promote investments.
'The two-word answer is: Proper oversight,' says T N Ninan.
Ramalingam Kalirajan explains the pros and cons of both investment types.
In several states, there were cases of falsification of records and money never reached the poor.
Online policies are cheap because there is no agent's fee involved, other administrative costs of the insurance company are lower and, most importantly, these use the latest statistics for calculating premia.
