Mhada presently has only Mumbai and Nashik cities in mind. If it takes off here, the thinking is to extend this to Pune and Aurangabad, and then elsewhere, if a common formula could be arrived at.
The Pension Fund Regulatory and Development Authority will consider a proposal to manage the pension funds of companies at its board meeting on Wednesday, extending its role from being manager of individual pension plans.
The amount for which free check-up is offered can be quite low, while in some policies it comes only after a considerable waiting period.
By April, operational guidelines for the scheme will be finalised and shared with states
Lodha Developers has emerged as a new realty giant in India.
A case has been registered against two shop owners after a portion of a four-storey residential building collapsed in Mumbai on Tuesday evening.According to the police, Yunus Kasam Memon and Irfan Yusuf Memon, who own a shop of mobile handset covers, had allegedly added a staircase without seeking permission. This led to collapse of the building 'Yusuf Manzil' at Lamington Road.Meanwhile, an 85-year-old woman, who was seriously injured in the collapse, died on Tuesday.
The Mumbai Metropolitan Region Development Authority on Tuesday received huge response for its Iconic Tower in Wadala (a Mumbai suburb) with Lodha Crown Buildmart Pvt Ltd quoting more than double the reserve price of Rs 40,000 per sq mt.
The JV, Edelweiss Tokio Life Insurance (ETLI), will soon apply to the Insurance Regulatory & Development Authority to get its nod to start operations, which may take eight months to one year time from now, Edelweiss Capital's Chairman Rashesh Shah said.
Having got the regulatory clearance to offer add-on insurance policies, non-life insurers are now preparing to launch the same in the coming weeks. Some of the insurers have said, however, that they need some time to launch these products. They say that, unlike commercial products which can be launched straight away, products meant for retail consumers need a certain level of preparation before they are ready for sale.
Income from distribution of third-party products such as insurance policies and mutual fund schemes is already under pressure because of the unfavourable economic climate.
Stating that the creation of separate Bundelkhand Development Authority will ensure development of the backward region, Senior Congress leader Digvijay Singh on Monday asked the Uttar Pradesh and Madhya Pradesh governments to shun doing politics over the issue.
Hemendra Kothari, the former chairman of DSP Merrill Lynch, is set to acquire Ambuja Cements' stake in ING Vysya Life Insurance for around Rs 190 crore.
'These are challenging times and we get energised by that.' 'I don't feel that 'I am tired now and I should relax', because even if someone calls us at 12 o'clock I have to answer his call.'
The Gomti Riverfront Development project, the Agra-Lucknow Expressway, the Jai Prakash Narayan International Centre and the efforts towards the beautification of Old Lucknow are some of Akhilesh Yadav's initiatives that are the subject of investigation.
Region takes about a third of all Indian fruit shipment and quarter of vegetables sold abroad; consignments from other states could face ban, too, if virus not contained
The government may consider a public-private partnership (PPP) mode for setting up national gas highways to ensure distribution across the country.
With a view to exploit its real estate assets, the Indian Railways plans to lease out some of them and aims to rake-in Rs 600 crore (Rs 6 billion) through this move this fiscal, a senior Railways official said.
The retirement age for public sector bank employees is 60 years. The PFRDA chairman can serve till the age of 65. Sources said the proposal was being sent to the appointments committee of cabinet.
According to reports, the MHA is worried about a stampede-like situation at the event as there is 'no evacuation plan' in case of an emergency.
Six buildings have also come up on the land under the slum rehabilitation scheme, it said.
Rental housing for 43,000 low-income families in Mumbai by March 2015.
The revised bill will give statutory powers to interim regulator Pension Fund Regulatory and Development Authority to make it on par with other financial regulators -- Securities and Exchange Board of India, Reserve Bank of India and IRDA.
The insurance sector is making a strong comeback. Buoyed by a steep rise in sale of single premium policies, the industry clocked a 53.25 per cent rise in November.
After a slump in sales in January, life insurance companies saw 36 per cent rise in new premium income during February.
Insurance regulator IRDA proposes to come out with disclosure norms for initial public offering (IPO) by insurance companies by this month end, its chairman J Hari Narayan said.
Interim pension regulator PFRDA has asked the government to bear the cost of maintaining accounts of policy holders under the New Pension System, a move that will encourage people to opt for the scheme.
However, policyholders will have to stay invested for the entire period of the scheme to get these benefits.
Interim pension regulator PFRDA will launch from December this year its savings scheme, which aims to give greater returns on the deposits, and can be withdrawn fully.
Insurance regulator IRDA on Thursday asked life insurers not to levy any charge on customers if they surrender their policies from fifth year.
The Russian government has allowed 46 Indian seafood companies to re-start their exports
The Insurance Regulatory and Development Authority of India (Irdai) will look at Indian executives for all top posts at insurance companies.
Uttar Pradesh Chief Minister Mayawati on Wednesday said that the top priority of her government is to provide basic amenities to urban poor.
The marshals will be provided specialised axes to snip wires and break glasses.
Sharif, who recently assumed office for a record third term with a pledge to cut unnecessary expenses, gave directions to officials to cut the staff of the Prime Minister's Office by one-third so that administrative expenses can be curtailed.
Irdai will maintain a centralised list of the details of all agents appointed by insurers.
Uttar Pradesh Chief Minister Mayawati on Friday charged the Centre of attempting to clamp central rule in Bundelkhand region that is spread across parts of UP and Madhya Pradesh.Close on the heels of the letter that she sent to Prime Minister Manmohan Singh on Thursday, Mayawati shot off yet another letter one Friday, saying, "The reported creation of an independent Bundelkhand Development Authority appears to be an attempt by government to impose central rule.
The last date for receiving EoIs is February 28, after which a new reserve price will be announced.
Earlier, the Indian Banks' Association has shown interest in the NPS for new bank recruits. Though no concrete decision has been taken so far. In the Budget tabled in Parliament, the government said that self-employed persons subscribing to the NPS would be subjected to tax only at the time of withdrawal.
Last week's slum fire at Bandra east highlights the stark difference between the two sides of the neighbourhood's railway station. But Piyush Goyal can change it, says Anil Singh.
Irda nod to policies with flexible premium, sum assured and tenure.
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