Budget 2019 : FDI in India

The Central Government of India has proposed a relaxation in the FDI norms for the various sectors like the media, aviation, insurance and single brand retail. This will allow these sectors to attract more overseas investment. Earlier, in the budget, it was stated by the Finance Minister of India, Nirmala Sitharaman that the quantum of ..

Category: Economy & Banking Current Affairs

Topics: FDI • Insurance • Union Budget 2019

Government of India reduces rate of contribution under Employees’ State Insurance (ESI) Act from 6.5% to 4.0%

The Union Government has taken a historic decision to reduce the salary contribution of industrial workers who are eligible for healthcare benefits under the Employees’ State Insurance Act (ESI) Act from 6.5% to 4.0%. The move is aimed at formalizing India’s informal workforce and expanding social security coverage. The reduced rates will be effective from ..

Category: Government Schemes Current Affairs

Topics: Economy • Employee benefits • Employees' State Insurance • ESIC Medical College, Faridabad • Finance • Health insurance in India • Indian labour law • Insurance • Service industries • Social Security

Bharti AXA collaborates with Wishfin to offer Policies via WhatsApp

Bharti AXA General Insurance, a private non-life insurer has collaborated with financial marketplace Wishfin’s insurance arm Wishpolicy, to offer two-wheeler insurance to customers via WhatsApp. This service option is an instant and additional customer service option for policyholders, apart from Bharti AXA General Insurance’s multiple channels, including its network of branches, customer care and contact ..

Topics: AXA • Bharti AXA General Insurance • Chatbot • Companies • Companies based in Bangalore • Economy • Finance • Insurance • WhatsApp

IRDAI forms 13-member Panel to Review Microinsurance Framework

IRDAI (Insurance Regulatory & Development Authority of India) has set up a 13 member committee under Suresh Mathur, IRDAI Executive Director to review the regulatory framework on microinsurance and recommend measures to increase the demand for such products. This committee has been formed in the backdrop of a less-than-desired offtake of microinsurance products despite their ..

Topics: Economy • Finance • Insurance • Microinsurance • Poverty • Regulatory agency • Service industries

Canara Bank in collaboration with its life insurance partner Canara HSBC OBC Life has launched ‘Webassurance’. This will allow its customers to purchase life insurance in a hassle-free way. Customers can avail 4 life insurance products of Canara HSBC OBC Life with various facilities like covering the key needs of child future, savings and investments, ..

Topics: Canara • Canara Bank • Companies based in Bangalore • Credit cards • Economy • Finance • HSBC • Insurance • Investment banks • Money • Primary dealers • Public Sector Banks in India