India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
The Indo Islamic Cultural Foundation, which has been set up for the construction of the mosque, will build a mosque along with a hospital, library, community kitchen and research institute, on the land.
A special court in Mumbai on Wednesday granted bail to Shiv Sena member of Parliament Sanjay Raut in a money laundering case pertaining to the Patra Chawl redevelopment project.
Chief Justice of India Uday Umesh Lalit Tuesday recused himself from hearing an appeal of the Andhra Pradesh government against the high court verdict that held the state legislature "lacked competence" to make any legislation for shifting, bifurcating or trifurcating the capital.
A bench of justices D Y Chandrachud and Hima Kohli asked Yediyurappa to implead the Karnataka government in his plea and issued notice to the state.
Allowing the petition in part, the HC set aside the order of the sessions court and directed the LXXXI additional city civil and sessions judge court to hear afresh the complaint.
A Karnataka government circular on selecting students with knowledge of Hindi for a tour of Uttarakhand has sparked a 'Hindi imposition' row, with the government clarifying there was no such direction either from the state or the Centre on the matter.
The government girl's PU college in Udupi has categorically informed that students wearing hijab (Islamic headscarf) will not be allowed inside classrooms.
It, however, noted that as a part of a separate compensation, the Delhi government has paid Rs 1 lakh each to the two families and the remaining Rs 9 lakh will be paid to them within 15 days.
Dravida Munnetra Kazhagam legislator and the party's youth wing secretary Udhayanidhi Stalin was sworn in as minister in Chennai on Wednesday by Tamil Nadu Governor R N Ravi.
The Enforcement Directorate (ED) has summoned Varsha Raut, wife of arrested Shiv Sena MP Sanjay Raut, for questioning in a money laundering investigation linked to alleged irregularities in the redevelopment of a local 'chawl' and linked transactions, officials said on Thursday.
The Enforcement Directorate (ED) has begun the process of freezing at least five bank accounts of Arpita Mukherjee, the associate of arrested West Bengal minister Partha Chatterjee, where they have found at least Rs 2 crore, a senior official said on Saturday.
The Prayagraj police have issued posters of 59 people, allegedly involved in the June 10 violence, which will be put up on roadsides and public places so that they could be identified and arrested, officials said.
Raut has been asked to depose at the agency's regional office in Mumbai.
Adityanath has of late earned the nickname "bulldozer baba", which helped the party create a narrative of tough administration in the state polls.
Overcoming its initial concerns, national reinsurer GIC Re has contributed to the formation of an insurance pool to cover most imports from Russia. While it will be called the fertiliser pool with a corpus of Rs 500 crore, it can be used to cover the risks of oil and gas imports too. This was decided by a clutch of Indian insurance companies, led by the state-owned ones. GIC Re's share is about 40 per cent in the pool. Last month, GIC Re had shot off a letter to all non-life insurance companies that underwrite marine risks not to ask it for reinsurance of cargoes that originate from Russia.
The Kanpur Development Authority (KDA) has served a notice to the stepmother of June 3 violence key accused Zafar Hayat Hashmi, seeking explanations why a hostel allegedly owned by her should not be demolished.
A day earlier, the properties of two people accused of rioting were demolished in Saharanpur where stone-pelting had taken place as well.
There was no evidence on record to link Shiv Sena Rajya Sabha MP Sanjay Raut to alleged irregularities in the redevelopment of Patra Chawl in suburban Mumbai, his lawyer on Tuesday told a special court.
Uddhav claimed that splits were engineered in many parties using central agencies and arrests were made illegally.
'Dharavi will be completely slum free by 2040'
The ED probe pertains to alleged financial irregularities in the redevelopment of Patra Chawl, a tenement, and related financial transactions involving his wife and associates.
Notably, after coming to power in November 2019, the then MVA government scrapped certain policy decisions of its predecessor BJP-Shiv Sena government led by Fadnavis.
Yediyurappa and his son had rejected the allegation outright, saying that there was no truth in the matter.
Shiv Sena member of Parliament Sanjay Raut skipped appearing before the Enforcement Directorate (ED) in Mumbai on Wednesday for questioning in a money-laundering case, citing his engagement with the ongoing Parliament session in Delhi, sources said.
The court allowed Raut's plea for home food and medicines, but refused to pass an order on his prayer for bedding.
He said his government's goal is to make Delhi a grand city equipped with all the facilities as expected of the capital of the country.
While extending the custody, the court noted that the ED has made 'remarkable progress' in the investigation.
An official said the Prayagraj Development Authority is trying to identify the homes of the 37 people and action 'according to the law' will be taken if their building plans have not been approved.
Violence broke out in Kanpur on June 3 after some people gathered demanding strict action against former Bharatiya Janata Party spokesperson Nupur Sharma over her comments on Prophet Mohammad.
Insurance regulator Irdai on Monday said health insurance policies that cover Covid treatment costs will also cover expenses for treating infections due to Omicron. "All health insurance policies issued by all general and health insurance companies that cover treatment costs of Covid-19 also cover the costs of treatment towards Omicron variant of Covid-19 as per terms and conditions of policy contract," the Insurance Regulatory and Development Authority of India (IRDAI) said in a release. The regulator has issued the directive to general and health insurers in view of the growing number of cases of the Omicron variant.
Delhi Lieutenant Governor V K Saxena has rejected the Aam Aadmi Party government's proposal for chief minister Arvind Kejriwal's Singapore visit to attend a summit on August 1.
The Insurance Regulatory and Development Authority of India (IRDAI) is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal, which is a part of the recommendations made by a working group formed by Irdai and the General Insurance Council, suggests that insurance frauds should feature when the risk profiles of individuals are evaluated and should be used to calculate their credit scores. A poor credit score can deprive a person of financial services such as loans and credit cards, and deter him from indulging in fraud.
Four people were killed and at least 10 injured Monday morning after a fire broke out in a hotel here, prompting authorities to issue orders for demolition of the four-storey building after following the 'due process'.
He also said that it had been decided to give the houses to the MLAs at a certain price and not free of cost.
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
India has secured approval of the United States Department of Agriculture (USDA) for the export of domestic mangoes to America in the new season, the commerce ministry said on Tuesday. The export of Indian mangoes has been restricted by the US since 2020 as the USDA inspectors were unable to visit India for inspection of irradiation facilities due to restrictions imposed on international travel because of the COVID-19 pandemic. On November 23, 2021, the Department of Agriculture and Farmers Welfare and the USDA signed a framework agreement for implementing the "2 Vs 2" agri-market access issues.
Muthalik said the dress code is introduced so that there is no display of upper and lower caste or religious identities.
Heads of fire departments of the Pune Municipal Corporation (PMC), Pune Metropolitan Region Development Authority (PMRDA) and Maharashtra Industrial Development Corporation (MIDC) are part of the joint probe team.
'They are targeting us because we respect the law of the land, don't indulge in illegal or unlawful activities, are educated and literate enough to articulate the acts of injustice against us (the Muslim community).'
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