National Commission concluded that false and baseless allegations had been made in the complaint to claim a highly exaggerated and atrocious amount of compensation.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
The Financial Stability and Development Council members include heads of regulatory bodies like RBI, Sebi and Insurance Regulatory Development Authority.
Urban mass transit authority to be set up; it will act as nodal agency for planning and coordination of project related works.
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
'Because it is the only public sector company in this sector, currently.'
Tech giant Microsoft has unveiled a blueprint for India on artificial intelligence (AI) governance, and proposed a regulatory architecture to oversee safety protocols, according to a whitepaper released on Thursday. The whitepaper titled "Governing AI: A Blueprint for India" comes amid Microsoft raising its stakes in its artificial intelligence tool ChatGPT. The proposed AI regulatory architecture includes regulations prescribing safety and security requirements, then license deployment for permitted uses in a licensed Al data centre with post-deployment safety and security monitoring and protection.
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.
Modernisation and expansion of the Kolkata and Chennai airports are being carried.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
General insurance companies are likely to see a surge in demand for health insurance in the coming months due to falling air quality in the country. The health insurance segment has registered a strong growth after the pandemic due to higher awareness. In the first half of financial year 2023-24, the segment grew by 24.4 per cent to Rs 54,713.52 crore from Rs 43,981.54 crore in H1FY23, driving growth of the non-life insurance industry.
The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs.
At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds - of around Rs 1.5 trillion - in debt-related instruments.
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
The Centre will invest around Rs 200 crore over five years for the exploration and development of these mines.
Following his resignation, the Finance Ministry has appointed Joint Secretary Anup Wadhawan as Chairman of the PFRDA.
Irdai on Friday extended the 'use and file' procedure for the most of the life insurance products, thereby allowing insurers to launch new products without prior approval of the regulator. This comes days after Insurance Regulatory and Development Authority of India (Irdai) extending similar relaxations to health insurance products as well as general insurance covers. In a press release, Irdai said that in its continuous endeavour towards the reform agenda taken up towards having a fully insured India, it has extended the 'use and file' procedure for most of the life insurance products.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar.
Videsh Sanchar Nigam Ltd's Chennai-Singapore submarine cable project might encounter a speed-breaker, making it difficult to meet the 2004-end deadline.
The Tamil Nadu government welcomed the decision, hailing it as a 'grand victory for the 'Amma (Jayalalithaa) government' and the state's farmers'.
United Kingdom-headquartered pharmaceutical giant AstraZeneca (AZ) has admitted that in 'very rare cases' its Covid vaccine can cause a blood clot related side effect but the causal link is unknown, according to court papers being quoted in the UK media.
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
India is one of the largest manufacturers of pharmaceutical products in the world with the annual production valued at over Rs 2 lakh crore.
The National Commission concluded that the claim had been rightly rejected on grounds of misrepresentation in the proposal form and breach of duty to maintain utmost good faith while applying for insurance coverage.
Projects in Delhi-NCR, delayed by a much as 6-7 years
The government on Thursday issued an ordinance for setting up a full-fledged Pension Fund Regulatory and Development Authority akin to Insurance Regulatory and Development Authority and Securities Exchange Board of India.
However, the finance ministry is yet to apply its mind on whether to merge the interim Pension Fund Regulatory and Development Authority with Insurance Regulatory and Development Authority or have two separate regulators for pension and insurance.
After opening close to 1,500 branches in 2022-23, HDFC Bank, the country's largest private sector lender, will continue expanding its branch network at the same speed in the current financial year. The lender says branch expansion is crucial for deposit mobilisation. As of March 31, 2023, HDFC Bank had 7,821 branches, up from 6,342 a year ago.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
The protesters who had gathered under the banner of the Joint Forum for Restoration of Old Pension Scheme and National Joint Council of Action said they were worried about their post-retirement future.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
General Syed Asim Munir is now firmly ensconced as army chief after the May 9, 2023 upheavals, which were planned by Imran Khan's supporters to destabilise him, asserts Rana Banerji, who headed the Pakistan desk at RA&W.
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, by investing Rs 8,278 crore ($1 billion). A QIA's wholly-owned subsidiary will make the investment in India's largest retailer at a valuation of Rs 8.278 lakh crore ($100 billion). Updating about the development, Reliance Industries in a regulatory filing said: "QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis." RRVL is the holding company for all retail businesses of Reliance Industries Ltd (RIL).
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.
The government has made clear that the Airports Authority of India will closely monitor the cost of airports built through the PPP route.
Ramalingam Kalirajan explains the pros and cons of both investment types.
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