New Delhi: Even as the share markets surge ahead of Congress-led United Progressive Alliance (UPA) Government's second round of reforms, the Opposition is getting ready to stymie the move. The UPA Cabinet is expected to clear 26 per cent foreign direct investment (FDI) in pension and raise the cap in insurance to 49 per cent on Thursday. But the passage of the two bills in Parliament is likely to be...
03:04 PM, Oct 04, 2012
New Delhi: The Opposition is already up in arms against more reforms by the UPA government as the Cabinet is expected to clear 26 per cent FDI in pension and raise the cap in insurance to 49 per cent on Thursday. The Bharatiya Janata Party (BJP) is opposed to raising the FDI cap in insurance. The party has no objections with the 26 per cent cap, but is against raising...
01:40 PM, Oct 04, 2012
Mumbai: Shares of companies engaged in the insurance business such as Aditya Birla Nuvo, Max India and Reliance Capital on Thursday surged as much as 5 per cent on hopes that the government will accelerate pace of economic reforms by raising foreign direct investment (FDI) cap in the sector. Aditya Birla Nuvo gained 5 per cent to Rs 955, while Max India jumped 4.8 per cent to Rs 244.50 on...
12:20 PM, Oct 04, 2012
New Delhi: The UPA government is set for a second push for Prime Minister Manmohan Singh's reform measures. The Cabinet is expected to clear 26 per cent FDI in pensions and 46 per cent in insurance on Thursday. Currently, no foreign investment is allowed in the pension sector and only 26 per cent FDI is allowed in insurance. The move on FDI in pension will need Parliamentary ratification as insurance...
08:20 AM, Oct 04, 2012
New Delhi: The cabinet is set approve bills that would raise the cap on foreign direct investment in insurance firms and open the pension sector to foreign investors, a government minister told reporters on Wednesday. The bills, which require parliamentary approval before becoming law, will likely be taken up in the forthcoming parliamentary session. Their approval on Thursday will come weeks after Prime Minister Manmohan Singh unveiled measures aimed at...
09:49 PM, Oct 03, 2012
New Delhi: After FDI in retail, the Cabinet is likely give a push to another round of reforms on Thursday. The Cabinet will take up the long-pending insurance and pension bills on Thursday. The amended bills propose hiking foreign investment limit to 49 per cent from the present 26 per cent. Although the government had given its approval, it did not come up for discussion in the Monsoon session due...
03:50 PM, Oct 03, 2012
India's current account deficit for the April-June quarter came in at USD16.4 billion, lower than another USD 17.4 billion in the first quarter of last year as well as lower than the USD 21.7 billion in the previous quarter, (Q4FY12). As a percentage of the gross domestic product (GDP) the current account deficit works out to 3.9 per cent lower than the 4.3 per cent, reports CNBC-TV18's Latha Venkatesh. It...
10:24 AM, Sep 29, 2012
New Delhi: It is expected to rain more reforms as the Union Cabinet is set to meet on Monday. A massive overhaul of the Public Distribution System is on the cards. Sources say the government is likely to pump in Rs 42,000 crore to check the leakage in the system. The system is said to be having a leakage of almost 62 per cent. Under new system, the consumers will...
07:55 AM, Sep 24, 2012
New Delhi: The government is likely to put the increase in foreign direct investment (FDI) cap on insurance on hold for now. Union HRD Minister Kapil Sibal has told CNN-IBN that the move could be put on hold as it required legislation. The Union Minister said that the government did not have the numbers in Parliament to get the increase in FDI in insurance passed. This comes a day after...
09:20 PM, Sep 21, 2012
New Delhi: On a day when all the opposition parties and even some supporters of the United Progressive Alliance (UPA) government organised a nation-wide bandh over the recent steps taken by the Centre, sources say that the government is likely to go ahead with more reform measures. After biting the bullet on foreign direct investment (FDI) in retail and aviation, the Centre is all set to propose an increase in...
09:20 PM, Sep 20, 2012
New Delhi: Despite facing the heat over the hike in diesel prices and reforms in foreign direct investment (FDI) in retail, the government has decided to go ahead with some more reforms. According to sources, the government is likely to go ahead with insurance reforms next week. It is expected that the FDI cap on insurance will be raised from 26 per cent to 49 per cent. According to sources,...
07:49 PM, Sep 20, 2012
New Delhi: Prime Minister Manmohan Singh is expected to push for Foreign Direct Investment (FDI) in single brand retail at a crucial meeting of the Cabinet Committee on Political Affairs (CCPA), slated to be held on Thursday evening. According to sources, the Prime Minister also wants to push for FDI in insurance and pension. The Prime Minister has to decide on diluting the 30 per cent cap in single brand...
04:44 PM, Sep 13, 2012
Life Insurance Corporation of India turns 56 on 1st September, 2012. One of the objectives of the Corporation is the use of peoples money for peoples welfare and the life funds are deployed for the best advantage of LIC policyholders as well as for the community. A new micro insurance product 'Jeevan Deep' is being launched on 1st September. This is an endowment assurance with an added feature of guaranteed...
02:23 PM, Sep 01, 2012
New Delhi: While the government is under fire over the CAG report and the Opposition gunning for Prime Minister Manmohan Singh's resignation in the coal block allocations, UPA's reform agenda has been pushed to a corner. Over 90 bills are waiting for an approval by Parliament and the government's efforts seem to be losing steam as it tries to work against a deadline of the 2014 elections. With only adjournments...
07:21 AM, Aug 24, 2012
New Delhi: The Finance Ministry has proposed that foreign direct investment in insurance and pension sectors be increased to 49 per cent. The Insurance and Pension Bills will now need Cabinet approval before coming up before Parliament. These Bills have already made one trip to the Cabinet, but at the time it was for 26 per cent FDI. When Pranab Mukherjee was the Finance Minister, the Bills had gone to...
02:25 PM, Aug 22, 2012
Mumbai: As if losing her mother and suffering severe injuries in a mysterious blast in Kashmir wasnt traumatic enough for Neeta Jethwa, the 54-year-old was forced to wait around at a private hospital in Mumbai till Saturday evening even after being discharged in the morning, as the third party administrator (TPA) for her medical insurance company had not cleared her bills. The Ghatkopar resident was hurt in the explosion on...
04:18 PM, Aug 06, 2012
Mumbai: With Janmashtami around the corner, dahi-handi groups have their eyes trained on the safety of the govindas this year. Several members have put forward their list of needs to the Samanvaya Samiti, which include the use of rubber mats and clean grounds to reduce injuries, if any. We have not been provided any insurance by the civic body. Hence, we are asking for the mats. This will help in...
05:06 PM, Aug 01, 2012
Mumbai: In a world of uncertainty, security comes at a price, as any insurance policy holder would tell you. And at popular festivals like Ganeshotsav that attracts lakhs of devotees, insurance cover is a must according to some. However, insuring the Ganesh pandals and jewellery may not be enough, so for the first time, a demand has been made to insure devotees who come for idol immersion at 84 locations...
03:50 PM, Jul 30, 2012
Carlsbad: Top-seeded Marion Bartoli rebounded from a poor first set for a 1-6, 6-3, 6-3 victory over qualifier Chan Yung-Jan on Saturday that sent her into the final of the Mercury Insurance Open. The Frenchwoman will face second-seeded Dominika Cibulkova, a 7-6 (8), 6-1 winner over Russia's Nadia Petrova in the other semifinal. Bartoli had 20 unforced errors and seven double-faults in the first set before she straightened out her...
02:06 PM, Jul 22, 2012
Carlsbad, California: Top seed Marion Bartoli survived a scare to beat Christina McHale 7-5, 4-6, 6-4 at the Carlsbad Open on Friday, taking a little under three hours to reach the semi-finals. The Frenchwoman's 2-hour-50-minute victory was the last of three marathon contests under the hot Californian sun. Taiwanese qualifier Chan Yung-jan saved two match points to upset third seed Jelena Jankovic 6-7, 7-6, 7-5 in three hours and 13...
02:58 PM, Jul 21, 2012
