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Madhusudan Sahoo Page-3

The Finance Ministry is also mulling to re-look at the most contentious Financial Resolution and Deposit Insurance (FRDI) Bill, a year after it was withdrawn by the government following a huge public outcry against controversial bail-in clause, which led to many depositors prematurely cancelling their bank deposits.

Centre plans new FRDI Bill, hike in deposit insurance

The source further said DICGC has proposed to hike deposit insurance to Rs 3 lakh from Rs 1 lakh, depending upon the demands of circumstances.

18 Oct 2019 2:26 AM

Violation of this would attract strict action with exemplary punishment.

CVC orders rotation of key insurance officials

Besides, the Commission has also warned officers against receiving from clients costly gifts and undue benefits in the ongoing festive season.

05 Oct 2019 1:47 AM

The Insurance Regulatory and Development Authority of India (Irdai) also banned selling travel insurance cover to tickets bought 90 days in advance for domestic travel.

Travel insurance cover can’t be default option: Regulator

The move aims at checking mis-selling of travel insurance through online ticket booking portals and apps.

02 Oct 2019 1:38 AM

Cyber insurance being a popular product is growing at 35 per cent year-on-year premium basis and almost 50 per cent on policy count basis.

Cyber insurance cover sales rise as attacks increase

Top insurance brokers who deal with the crisis are of view that cyber risk is a top order item for any board across the globe.

01 Oct 2019 1:53 AM

The retail prices of onion shot up to Rs 70-80 per kg in New Delhi and Mumbai in the wake of excess monsoon rains in key growing states.

Onion export ban to check price rise

The move comes days after prices of this basic kitchen staple snowballed across India.

30 Sep 2019 6:09 AM

Finance Minister Nirmala Sitharaman (Photo: File)

Spending to start, dues to be met: Nirmala Sitharaman

However, the government aims to ensure there are no dues left, and funds should be cleared swiftly.

28 Sep 2019 4:20 AM

Jewar Airport is expected to be the world’s third biggest airport and the biggest in Asia.

UP visualises Jewar as third largest airport in world

The government’s move is part of the state’s ambitious target of UP touching the $1-trillion economy by 2024.

28 Sep 2019 3:31 AM

This panel also proposed removing the surcharges and cess levied on income-tax to some extent.

Income-tax rate for individuals may be cut soon

This has been suggested by a committee set up to recommend changes in the direct tax code.

25 Sep 2019 2:20 AM

Vehicle insurance policies, especially of two-wheelers, saw a nearly 500 per cent growth this month, following the implementation of the Motor Vehicle Amendment Act-2019 (MVA) from September 1.

Steep jump in demand for basic motor insurance

Insurers expect the trend to remain for at least a couple of months more, as many more would still be driving without insurance.

24 Sep 2019 1:40 AM

Centre bans use and sale of e-cigarettes

The government also said first-time offenders would face a prison term of up to one year and a fine of Rs 1 lakh.

19 Sep 2019 1:49 AM

The government’s move comes at a time when oil price fluctuations build anxiety in the energy market in the country.

India likely to buy more oil from Russia

India OMCs may invest more in Russian oilfields.

18 Sep 2019 2:27 AM

Braving the slowdown in consumption demand, e-commerce major Amazon India is eyeing 50 per cent more sales in the festive season this year.

Amazon sees 50 per cent more sales this year

Kicking off the first road show in the capital, the senior officials of Amazon India said they would hold similar shows across regions.

17 Sep 2019 1:24 AM

Though the Banks Board Bureau (BBB) has recommended names to fill up the top decks in LIC, GIC Re and Agriculture Insurance Company (AIC), their appointment is likely to be delayed.

Central nod awaited on top insurance vacancies

The Appointments Committee of the Cabinet, headed by PM Modi, is learnt to have not yet cleared the names.

11 Sep 2019 1:29 AM

Govt unveils mega-mergers of PSU banks for economy boost

Number of public sector banks falls to 12, from 27 in 2017.

31 Aug 2019 1:46 AM

Super-rich tax withdrawn; home, auto loans to be cheaper: FM Sitharaman

Sitharaman also announced a booster investment of Rs 100 lakh crores on building modern infrastructure over the next five years.

24 Aug 2019 3:31 AM

Keeping the flood scenario in many parts of the country, recently the Insurance Regulatory and Development Authority of India (IRDAI) advised insurance companies to expedite claim settlement.

Floods: Insurers expect over Rs 1,000-cr claims

Two senior officials of a public sector insurance company said the industry expects as many as 10,000 floods-related claims.

23 Aug 2019 1:31 AM

In the last sectoral meeting with the real estate sector representatives and homebuyers, Finance Minister Nirmala Sitharaman, on Sunday, said that she would soon address issues affecting the sector and other stakeholders.

Real estate sector gets Finance Minister’s word

The government is believed to have decided on a high-level meeting to bring the ailing sector on track.

12 Aug 2019 1:08 AM

In the meeting, MSMEs are learnt to have pitched for creation of special industrial clusters across India to produce import-substitution items.

Centre promises all help to MSMEs

Finance Minister Nirmala Sitharaman and MSME Minister Nitin Gadkari met representatives from various MSME sectors on Tuesday.

07 Aug 2019 2:10 AM

The government is likely to fill the vacancies at the top deck in Life Insurance Corporation (LIC) of India. The Department of Financial Services (DFS) under the Ministry of Finance (MoF) will soon begin interviews to select two Managing Directors, out of five probable candidates, for the country’s largest public sector life insurer. (File Photo)

LIC to have 2 new MDs, interviews soon

According to a top ministry source, the probable candidates have been short-listed for the positions and the interviews would be held shortly.

01 Aug 2019 1:21 AM

After blowing the lid off the big-ticket IL&FS scam, the Serious Fraud Investigation Office (SFIO) is likely to look into the mega fraud alleged against Indiabulls Group by Rajya Sabha member Subramanian Swamy.

SFIO may probe charges against Indiabulls Group

The agency is looking forward to directions from the government to formally begin the investigation.

31 Jul 2019 1:03 AM

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