New Delhi: The country's largest car maker Maruti Suzuki India today said Life Insurance Corporation of India has sold 2.53 per cent stake in the company over a period of almost six months.
Post-sale, LIC's stake in Maruti Suzuki India (MSI) has come down to 8.247 per cent currently from 10.777 per cent earlier, the auto maker said in a filing to the BSE.
LIC sold 62,23,598 equity shares, representing 2.53 per cent, of MSI between November 21, 2012, and May 17 this year....
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02:59 PM, May 21, 2013
Lucknow: In an embarrassment to the Akhilesh government in Uttar Pradesh, a major fake smart health card scam, which comes under the National Health Insurance Scheme, has come under scrutiny. This could turn out to be one of the major scams in Uttar Pradesh after the Akhilesh government came to power. Sources say if probed properly, the scam could run into several crores. Around 50 lakh smart cards have reportedly...
09:57 AM, May 21, 2013
Srinagar/Chandigarh: Amid fresh allegations of money laundering by banks, RBI and several banks on Thursday said actions are being taken against erring institutions and employees for violating prudential banking norms. The central bank has already completed investigations against banks and would take action against guilty institutions, RBI Governor D Subbarao said in Srinagar. "We have done investigations, we have prepared an internal report. There are processes to be followed to...
10:32 PM, May 09, 2013
Part Two of the Cobrapost investigation on money laundering methods used by banks focused on 23 major public sector banks and financial institutions. This included the State Bank of India as also the Life Insurance Corporation. ...
09:26 PM, May 06, 2013
Special Investigations website Cobrapost has revealed that 23 banks and insurance companies have been engaged in money laundering. Among the 23 banks involved are mostly PSU banks including some big names like the State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, IDBI, Oriental Bank and Dena Bank. Aniruddha Bahal, editor-in-chief, Cobrapost.com, joined IBNLive readers for an interaction on the matter. Q. Hats off to you and...
06:39 PM, May 06, 2013
Raipur: The NHRC has directed the Chhattisgarh government to submit a report within a month over the allegations that 7,000 'unnecessary' hysterectomy surgeries were conducted in the state by some doctors, just to claim money under a health insurance scheme. "There are allegations that 7,000 hysterectomies - uterus removal surgeries - had been conducted by unscrupulous doctors in 169 hospitals of Chhattisgarh, to claim money under the Rashtriya Swasthya Bima...
08:29 PM, Apr 12, 2013
Berlin: Germany on Thursday pressed India to hike the foreign equity cap in the insurance sector and reduce tariffs on import of automobiles as a prelude to the much-awaited India-EU Free Trade Agreement even as the two countries signed six pacts including one under which a German loan of Euro one billion (Rs 7,000 crore) will be provided for a green energy corridor in India. After talks with Prime Minister...
09:00 PM, Apr 11, 2013
Finance Minister P Chidambaram suggested on Tuesday that the government is unlikely to raise the import tax on gold further to avoid gold smuggling and would instead introduce inflation-indexed instruments to help curb a record current account deficit. ...
12:44 PM, Apr 02, 2013
Arrest warrants were issued on Monday for Pakistan's former commerce minister Makhdoom Amin Fahim and six others accused in a multi-billion-rupee insurance scam, a media report said. ...
06:25 AM, Apr 02, 2013
Life Insurance Corporation (LIC) has been directed by a consumer forum here to pay Rs one lakh to the husband of a policy holder for "arbitrarily" rejecting his claim for the assured amount on his wife's death. The New Delhi District Consumer Disputes Redressal Forum observed that LIC had "misdirected itself" by not showing any evidence that the deceased was suffering from asthma prior to availing the policy and had...
11:45 AM, Mar 17, 2013
Mobile handset maker Nokia India announced insurance scheme against mobile handset theft and accidental damage, in partnership with insurance firm New India Assurance. ...
06:15 PM, Mar 12, 2013
Is calling a two-day bandh good for the country and its people? Secretary General of Confederation of All India Traders Praveen Khandelwal joined IBNLive readers for an interaction the issue. ...
04:10 PM, Feb 21, 2013
The government on Thursday revised downward the economic growth for fiscal 2011-12 to 6.2 per cent from the earlier estimate of 6.5 per cent. However, as per the first revised estimates of National Income, Consumption Expenditure, Saving and Capital Formation, the GDP (Gross Domestic Product) for the fiscal 2010-11 has been revised upwards to 9.3 per cent from 8.4 per cent. ...
02:28 PM, Jan 31, 2013
Woods ended a week of dominant golf by clinching his 75th PGA Tour title by four shots at the Farmers Insurance Open on Monday. ...
08:32 AM, Jan 29, 2013
The former world number one birdied three of his first seven holes to move to 17 under overall when play was suspended on Sunday due to fading light. ...
08:53 AM, Jan 28, 2013
Snedeker had to endure a marathon day of putting practice and waiting around at Farmers Insurance Open before play was abandoned thick fog. ...
01:39 PM, Jan 27, 2013
The former world number one had a two-shot lead at the tournament he already has won six times. ...
08:44 AM, Jan 26, 2013
The former world number one shot a 4-under 68 to be three shots off the pace. ...
08:59 AM, Jan 25, 2013
It's been done to lure them to join the troubled country's new Twenty20 league. ...
08:29 AM, Jan 25, 2013
Snedeker charged into a tie for the lead with South Korean KJ Choi after carding a flawless seven-under-par 65 in the opening round. ...
08:20 AM, Jan 25, 2013
