Confirming a meeting with the top management of the Adani Group, Life Insurance Corporation Chairman M R Kumar said on Sunday that the interaction had gone well. "There's nothing I can state as of now on the outcome of that meeting. "But yeah, we've had the meeting....we are quite happy about this meeting," Kumar said on the sidelines of the 22nd Global Conference of Actuaries in New Delhi.
The change in policy for the three companies, from listing to merger, shows the level of discomfort within the government about their ability to take on the expanded load for insurance coverage with their current financial strength, including the massive premium and claim settlement cover under the proposed universal health coverage plan announced in Budget 2018.
Finance Minister Nirmala Sitharaman on Tuesday said the Russia-Ukraine crisis and the ensuing jump in global crude prices are a challenge to financial stability in India. The two issues were discussed at the meeting of Financial Stability Development Council (FSDC), which comprises all the financial sector regulators, Sitharaman told reporters in Mumbai. "It is difficult to say how it (crude prices) will go.
Suppose you had bought a television set that came with a one-year warranty. It breaks down two years after purchase. You can't react emotionally and say that such an expensive set should last for at least five-six years.
Given the high cost of treating cancer and the reasonable premium rates at which these plans are available, one should opt for a cover at the earliest.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
First, the shock: according to a National Council of Applied Economic Research survey, of the 78 per cent Indian households aware of life insurance, only 24 per cent actually own one.
Bullion imports are expected to fall by about 29 per cent this fiscal to USD 44 billion, the Prime Minister Economic Advisory Council said in a report released on Friday.
The US-India Business Council said on Friday it has appointed Joseph Gilmour, chairman and chief executive officer of insurance firm New York Life International, to its board of directors.
He is survived by two sons, Rajiv Bajaj and Sanjiv Bajaj, and a daughter Sunaina Kejriwal.
A recent survey revealed that 99.9 per cent of households in Chennai believe they are financially at risk due to ineffective saving habits and misplaced financial optimism.
The stock was the worst hit among Sensex and Nifty components.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
A WGC survey says that there is no dearth of gold demand, but there is lack of trust among prospective gold buyers, not only in India but globally.
'We have great demographics, and are the fastest growing large economy. And we save.' 'All of which is great for financial services,' Aditya Birla Capital CEO Ajay Srinivasan tells Niraj Bhatt.
As households age, they pile up debt, a peculiarity unique to Indians, a Financial Stability and Development Council report has found. Here are the key takeaways.
'Our future is in limbo. The government saved us with Operation Ganga; now, they must save our careers.'
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
IRDA's condition that treatment under AYUSH has to be at a government hospital or an institute recognised by the government makes insurance cover difficult.
'Is it time to think beyond the traditional questionnaire-based approach in India?' asks Atanu Biswas.
'In the time I have been an Indiawallah, I have seen three US Presidential visits to India, nuclear sanctions, nuclear cooperation, a border conflict with Pakistan, the growth of IT services, a government losing a confidence vote, and so much more,' Rick Rossow, the new Wadhwani Chair in US-India Policy Studies tells Rediff.com's Aziz Haniffa.
Promises have been made in the past about cleaning up bank boards, revamping processes, purging vested interests. How far away is that Promised Land?
Congress stalwart Murli Deora passed away on Monday morning after battling a prolonged illness. He was a politician who shared rapport across the political and corporate spectrum.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
Government's financial inclusion mission is well intentioned, but it may be putting a severe strain on the banking sector.
Focus on the best you can do with what you've been given.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
'Don't panic. Believe in yourself.' 'This is a preventable illness. Only you can prevent it.'
Union Railway Minister Suresh Prabhu aligns priorities, funding and organisation to shape a transformation agenda.
'You cannot fight a disease as complex as COVID-19 without a carefully calibrated, localised response.'
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Expenditure on health in India is at a global low of 1.2% of GDP.
In a nation divided by many things, the 12-digit unique identity number is holding lives to ransom.
Patients from any part of the country will soon need to travel no more than three hours for treatment of the kind available in large metros.
10 central trade unions have called a nationwide shutdown against 'anti-worker policies' of the central government. Apart from being successful in Bengal, Kerala and NE states, the bandh has also got support from Cong leader Rahul Gandhi and Shiv Sena in Maharashtra.
The differently-abled deserve a normal life. Nothing will stop Poonam Natarajan from ensuring that India, slowly but surely, gives it to them, discovers Shobha Warrier.
Taxation and intellectual property rights issue are some basic starting point impediments for US businesses in India, a top Indian-American CEO said on Monday.
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