Image: People affected by the earthquake in Nepal. Photograph: Navesh Chitrakar/Reuters The strong earthquakes emanating from Nepal on Saturday and Sunday are expected to lead to major insurance claims for property damage. Insurer companies have put surveyors on the job of assessing claims and ensuring these are settling efficiently and quickly. Private sector insurers do not have direct exposure to Nepal; some claims from Bihar and Uttar Pradesh are expected on the life ... Rediff.com, 3 weeks ago
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled. Fifteen years after the privatisation of insurance, the archaic, pre-Independence laws governing the business will give way to updated rules once the Insurance Laws (Amendment) Act, passed by both the Lok Sabha and the Rajya Sabha, is notified. While the industry is betting big on the Act raising the limit of foreign direct investment from 26 per cent to 49 per ...Rediff.com, 2 months ago
The 30-share Sensex surged 299 points to close at 28,736 and the 50-share Nifty gained 90 points to end at 8,723. Benchmark share indices ended over 1% higher, amid a choppy trading session, led by financials on expectations that weak US economic data may prompt the US Federal Reserve not to announce hike interest rates at it two-day policy meet which begins later today. Meanwhile, Finance Minister Arun Jaitley told lawmakers on Tuesday that India's current account deficit will ...Rediff.com, 2 months ago
After passage of Bill raising cap on foreign investment to 49% in the sector, experts say this money can be raised in the next 3 years; top five can make gains of Rs 20K crore After the passage of the insurance Bill, Indian promoters of life insurance companies are expected to see inflows of around Rs 50,000 crore (Rs 500 billion) through stake sale to foreign partners or other financial intermediaries and issue of more shares. Bupa and Axa have already declared their intention to raise stakes ...Rediff.com, 2 months ago
The initial process to commence a financial transaction still requires paperwork and documentation. This will not change until a central repository and common demat accounts are in place. To do your banking transactions today, you don’t need to step out of your home or office. Everything is possible at the click of a mouse or a swipe on the phone screen. Yet, you have to make one visit to the bank to open your account. Unless you sign the account opening form in front of the bank official ...Rediff.com, 2 months ago
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