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Zurich Insurance Company has received the approval of the Reserve Bank of India (RBI) for the acquisition of 70 percent stake in Kotak Mahindra General Insurance Company for Rs. 5,560 crore. Kotak General is Kotak Mahindra Bank’s 100 percent subsidiary. The RBI’s approval was received on 4th June, 2024. The private bank stated that all […]
NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP) have teamed up to introduce a UPI-like real-time payments mechanism in Peru. This collaboration makes Peru the first country in South America to adopt Unified Payment Technology (UPI), exhibiting India’s leadership when it comes to digital payments. With this partnership, BCRP will […]
Quacquarelli Symonds, on 4th June, 2024, released its QS World University Rankings 2025 wherein IIT Bombay and IIT Delhi made it to the top 150 universities across the world. While IIT Bombay secured the 118th spot, IIT Delhi got the 150th rank in the list. The third place among the Indian universities was taken by […]
The Food Business Operators (FBOs) have been asked by the Food Safety and Standards Authority of India (FSSAI) to remove the “100% fruit juice” claims from the advertisements and labels of reconstituted fruit juices which are widely available in the Indian market. The FBOs are asked to withdraw such claims immediately. However, FSSAI has given […]
After raising the Dearness Allowance (DA) by 4 per cent in March, 2024, the Government of India (GOI) has now taken the decision to increase the gratuity limit. The maximum limit of retirement gratuity and death gratuity has been raised by the GOI from Rs. 20 lakh to Rs. 25 lakh, with effect from 1st […]
In a press release on 31st May, 2024, the Bank of India (BOI) said that it had launched a 666 Days Fixed Deposit (FD) offering returns of up to 7.95 percent per annum for senior citizens on deposit amounts not exceeding Rs. 2 crore. The investment opportunity is open to the public and all Bank […]
India’s Space Startup Agnikul Cosmos launched its Agnibaan rocket for the first time on 30th May, 2024, powered by the only Indian rocket engine to use both gas and liquid fuel in the country’s second flight of a privately-made rocket. In the last two months, the Agnibaan’s first flight had been called off four times […]
On 30th May, 2024, the Reserve Bank of India (RBI) allowed the opening of rupee accounts outside India as part of its strategic plan to internationalize the domestic currency. The Central Bank stated in its annual report that the rationalization of various guidelines would be the main priority, with an emphasis on continual synchronization of […]
According to the Insurance Regulatory and Development Authority of India (IRDAI), the insurance companies must accept cashless claims and pay any associated costs within three hours of a hospital requesting discharge. In the event that an insured person passes away, claims must be handled promptly and the mortal remains (body) must be released right away. […]
Gurugram-based Tesla Power India has been asked by the Delhi High Court to present an affidavit detailing the stocks and sales of their EV scooters, which includes providing the dealers’ names, dates of launch and the current stock availability. According to a report by ET, this order, issued by Justice Anish Dayal, is part of […]