German luxury carmaker Mercedes-Benz India on Thursday said it will hike prices of select models by up to two per cent from January 1, 2022, to offset feature enhancement and rising input costs. At the same time, Audi announced a price increase of up to 3 per cent across its entire model range, effective from January 1 next year. Mercedes, however, said it is committed to price protection to customers who have booked their cars and are waiting for more than four months for select models.
The Insurance Regulatory and Development Authority (Irda) has fined 10 insurance companies, including both the insurance arms of the Bajaj Auto Group, Reliance General, United India, Iffco-Tokio, New India Assurance and Shriram Life for non-compliance with various guidelines. The violations varied from opening branch offices without seeking the regulator's permission to violation of advertisement guidelines and non-fulfilment of social sector obligations.
With two more Indians tested positive, the number of Indians infected with virus on the ship rose to five.
The Saral Jeevan Bima product to be offered by all life insurance companies will be a non-linked non-participating individual pure-risk premium life insurance plan.
Infosys CEO Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability." Parekh - who steered the firm to stability after a bitter spat between founders and then-management a few years back - believes that Infosys is "well positioned" to leverage tech-led growth opportunities over the next several years. Parekh took over at the helm in January 2018, after a standoff between board and founders, including NR Narayana Murthy, over issues such as governance, led to the exit of then-CEO Vishal Sikka.
The Supreme Court has dismissed a petition filed by New India Assurance to evict Nusli Wadia, chairman of the Rs 1,000-crore Bombay Dyeing Group, from his Malabar Hills flat in Mumbai, rented to him since 1972.
Openers Prithvi Shaw and Shubman Gill fell for ducks as India 'A' batsmen struggled on the opening day of their three-day practice match against Australia 'A' at the Drummoyne Oval, in Sydney, on Sunday.
Presumably hurt on their balance sheets by the allegedly inflated bills for medical costs of people covered by cashless mediclaim facilities, these insurers have pruned the list of hospitals in four large cities for providing this facility with effect from this month.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
Institutional shareholders of Reliance Industries Limited (RIL) are expecting big-ticket announcements from the company, including timeline for listing of its telecom and retail subsidiaries. They expect this to unlock value in the company, which has seen a sharp fall in market valuation on Friday. This is due to windfall tax imposed by the Centre on refiners and oil producers.
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
Scindia said on Twitter the Romanian prime minister has assured his continued support to Indian students crossing the Romanian borders.
FMCG distributors on Thursday said it has suspended their boycott of certain products of oral care maker Colgate after talks with the company representatives over the issue of the price disparity between the traditional distributors and organised business-to-business channel. A day after a virtual meeting with Colgate-Palmolive (India) Ltd (CPIL) representatives, the All India Consumer Products Distributors Federation (AICPDF) called off its stir to boycott certain products of the company starting from January 1, 2022. "From today, the movement against Colgate is postponed till further notice," the AICPDF said in a statement.
Market observers also said the approvals depended a lot on the funds themselves, and the extent to which they followed the new norms introduced last year.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
After raising Rs 10 crore in seed funding last week from investors like Paytm founder Vijay Shekhar Sharma, Freshworks founder Girish Mathrabootham and Silicon Valley based venture capitalist firm Hourglass Venture, Chennai-based social media startup Pepul told Business Standard that it is looking to raise around Rs 200 crore by June this year for expansion. The social media platform, focused on online ethical practices, will be launched by 1,000 entrepreneurs across the country on January 26. Pepul, founded by G Suresh Kumar, will be using an Aadhaar-based user verification system to get rid of fake accounts on its platform. "We are planning to raise around Rs 200 crore by June this year.
Roopam Asthana, CEO and whole time director, Liberty General Insurance, answers readers health insurance queries.
Walmart agreed to pay more than $ 144 million to settle US Security and Exchange Commission's charges and approximately $ 138 million to resolve parallel criminal charges by the Department of Justice for a combined total of more than $ 282 million.
Like ants declining to question the rules of the anthill, they feel innately justified in their approach, notes Shyam G Menon.
The Vedanta team held a meeting with Shinde, Fadnavis and top officials on July 26, he said.
Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Recurring natural calamities along the east coast, especially Vizag and Chennai, to increase insurance premium rates in the region, reports T E Narasimhan.
'We will likely be buffeted by tailwinds from the global economy, geopolitical shifts and robust domestic demand.'
New India Assurance, National Insurance and United India Insurance are following Oriental Insurance Company in raising health insurance premium rates by 50 to over 100 per cent.
'How can you explain the necessity of selling an institution that has been delivering regular returns to the government, that has never asked for any capital from the government, that has invested Rs 38 lakh crores in the Indian economy and that owns 4 per cent of the market capitalisation in India?'
The number of smartphones booked during the initial hours was 30,000.
The previous highest divestment proceeds for the first half of a year was around Rs 21,000 crore in 2016-17.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
The smartphone has become our buddy and we owe it a good insurance policy to ensure it's protected at all times, says Naval Goel
For FY15, Infosys has given a revenue growth outlook of seven-nine per cent.
The UT has been facing a widespread power shutdown Since Sunday owing to a deadlock between the Power Development Department (PDD) employees and the administration over the latter's bid to privatise electricity in the region.
Invest only if you wish to go overweight on the sector.
"So you will not have anything better... democracy loving, capitalist respecting environment... in India," Sitharaman said at the event hosted by the Federation of Indian Chambers of Commerce and Industry in association with the US India Strategic and Partnership Forum.
The Centre must bring an "all-encompassing" policy to protect the interests of the consumers as well as offline traders and small traders, he said, underlining that the proposed consumer protection e-commerce rules are "inadequate" to address the issue. The Swadeshi Jagaran Manch (SJM) is an affiliate of the Rashtriya Swayamsevak Sangh (RSS).
Naveenbabu turned 75 last October and there have been rumours of ill health, which he denied last Friday.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
'There is a lot of money coming into the business, people are consuming a lot of content, there is no dearth of new films and shows coming out of India and being available worldwide.'
