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The Reserve Bank of India imposed fines on private banks ICICI Bank and Yes Bank because of their non-compliance. A fine of Rs 1 crore was imposed by RBI on ICICI Bank as it failed to comply with regulations related to ‘Loans and Advances – Statutory and Other Restrictions’. RBI’s inspection of ICICI Bank for […]
UN Chief Antonio Guterres will present the UN Military Gender Advocate of the Year award to Indian Army officer Major Radhika Sen on 30th May, 2024. Major Radhika Sen has been praised as a “true leader and role model” by the UN chief. Major Sen, an Indian woman peacekeeping officer, worked with the UN on […]
The Income Tax Department has urged the individuals to link their PAN with Aadhaar before May 31st, 2024 in order to avoid tax deduction at a higher rate. The Aadhaar-PAN linking is done automatically during the application stage for new applicants of PAN card. Existing PAN holders, who were allotted PAN on or before 01-07-2017, […]
India’s two target telecom operators Reliance Jio and Bharti Airtel are set to compete for market share in the African continent. India’s largest telecom operator Reliance Jio will start its services in the African continent almost 8 years after Bharti Airtel. The West African country of Ghana has partnered with a subsidiary of Reliance Jio, […]
The Nato Summit 2025 will take place in the Hague, Netherlands, from 24th to 26th June, 2025. NATO Secretary General Jens Stoltenberg said, “I am pleased to announce that the 2025 NATO Summit will be held at the World Forum in The Hague from 24 to 26 June 2025. We are grateful to the Netherlands […]
On 26th May, 2024, the Ministry of Ayush said that it will launch a sensitization programme for executive officials of insurance companies and owners of Ayush hospitals for promoting affordable and accessible healthcare India. The programme will take place today i.e., on May 27, 2024, at the All India Institute of Ayurveda (AIIA) in the […]
With global tourism activities returning to pre-pandemic levels, World Economic Forum’s Travel & Tourism Development Index 2024 has placed India’s rank at 39th position. While the United States of America (USA) has topped the list, India has been ranked the highest in the entire South Asia. In the previously published WEF index in 2021, India […]
To provide various operational and procedural aspects to be adopted by all insurance companies, the Insurance Regulatory and Development Authority of India (IRDAI) has released a master circular. The master circular titled “Master Circular on Corporate Governance for Insurers, 2024” shall apply to all the insurers, with the exception of foreign companies that are involved […]
The Securities and Exchanges Board of India (Sebi) has issued new guidelines to facilitate ease of business, and protect stock prices from volatility due to the market rumors. The new guidelines have introduced the concept of ‘unaffected price’. SEBI’s concept of “unaffected price” refers to the share price level that would have appeared if there […]
Mahindra & Mahindra Financial Services has obtained a Certificate of Registration from IRDAI (Corporate Agency License) to act as a corporate agent under the Insurance Act, 1938. This license permits Mahindra Finance to offer customized insurance plans to its clients. With this license’s help, Mahindra Finance will now broaden its product portfolio through incorporation of […]