Jobs, employment, hiring

The report also noted a decline in the overall number of data science and analytics jobs over the past year

Mahesh Balasubramanian

With the financial year (FY23) having drawn to a close, Mahesh Balasubramanian, Managing Director, Kotak Life Insurance, spoke to Subrata Panda on a range of topics

Term-Insurance

According to a notification from the Ministry of Corporate Affairs, the website companies use for electronic filings will not be available from January 7 to January 22

banks

Campaign will work to achieve saturation in respect of bank accounts, insurance/pension schemes; distribution of loans to FPOs, SHGs for setting up cold-chain infra, KCC penetration, among other thing

Insurance

IRDAI is considering a proposal that seeks to have a single limit for expenses made by insurance companies

IDBI

LIC had infused Rs 4,743 crore into IDBI Bank on October 23, 2019 using policyholders' funds while the bank further raised Rs 1,435.1 crore in Dec. 2020 by way of a qualified institutional placement

Bank icon

Bank branches are allowed to work as per normal working hours till disbursal of DBT cash transfers are complete

insurance

However, it said specific cases would be considered on merit

bank, deposit, withdraw, money, cash, currency

The Reserve Bank does not see any major impact on the balance-sheets of banks due to the five-fold hike in deposit insurance to Rs 5 lakh.
Following the failure of a number of cooperative banks, with the city-based PMC Bank being the latest and the largest last year, the budget allowed the Deposit Insurance and Credit Guarantee Corporation (DICGC) to raise deposit insurance coverage to Rs 5 lakh from Rs 1 lakh.
"The premium is something, which we consider, will increase from 10 paise to 12 paisa per Rs 100 for the time being. So, the impact on banks' balance sheets is not likely to be much," RBI Deputy Governor B P Kanungo told reporters during the post-policy presser.
The hike in deposit insurance coverage has been a long pending demand from bank depositors and it recently came to fore after the crisis at Punjab & Maharashtra Cooperative (PMC) Bank. It can be noted that in 2019 alone more than 30 cooperative banks went belly up in Maharashtra alone.
The DICGC, a wholly-owned ...

insurance, investors, mobile banking

Revenues of investment banking firms have been hit by a drop in activity

Meanwhile, companies like HP and Acer, which do not sell mobile phones in India, are likely to miss out

Apple iPhone

The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources

Byju's

To borrow Rs 6.55 trillion in second half

money, cash, rupees

His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm

Reliance Industries chairman Mukseh Ambani and Nita Ambani's children, left to right, Akash, Isha and Anant Ambani. PTI: Photo

Isha, Akash and Anant Ambani

Senco Gold hit a new high of Rs 590.55, rallied 11% on the BSE in Wednesday's intra-day trade and now quotes at a hefty 86% premium over its issue price in little more than 2 months.

Jewellery, Art Work

A functioning educational institute, it will have to navigate the challenges the heritage label presents

Santiniketan

Civil Aviation Minister Jyotiraditya Scindia on Sunday announced that three new air routes would be operationalised in Arunachal Pradesh by October this year.
Inaugurating the newly-developed infrastructure at the Tezu Airport in Lohit district of the northeastern state, Scindia said that under the Centre's UDAN-5 scheme, new flight services would begin between Itanagar and New Delhi from Donyi Polo Airport at Hollongi near here, besides a service between Itanagar and Jorhat in Assam and between Ruksin in East Siang district and Itanagar.
Ude Desh ka Aam Nagarik (UDAAN) is a regional connectivity scheme aimed at developing smaller regional airports to allow common citizens easier access to aviation services.
Tezu airport is the fourth in the state after Donyi Polo, Pasighat and Ziro airports and 17th in the northeast.
The minister said that in the last 65 years, there were only 74 airports in the country but in the last nine years of BJP government rule at the Centre, 75 new airpor

Airports, nearby areas may not get 5G network services anytime soon

Airlines, airport, aviation, flights

Thakur said that the Government of India is building 1000 Khelo India centres across the country and he will personally look at the progress of the centres

Union Minister Anurag Thakur

Price of Indian crude basket hits 14-month high of $93.5 on September 21

Crude oil

The Congress on Sunday alleged that the government has mismanaged the economy across all sectors and since it is "too inept" in fixing issues such as unemployment and price rise, it is distorting the data instead.
Congress general secretary Jairam Ramesh said now that the special session of Parliament is over, it is clear that the Modi government was trying to "distract and divert" the nation from some critical issues  "the Adani scam, the caste census and especially the rising unemployment, growing inequality and the economic distress".
In a statement, he said no matter how much the Modi government hides the data, the reality is that the vast majority of people are suffering.
He claimed that some of the facts reported last week are being "brushed under the carpet".
He said RBI's latest bulletin of September 2023 shows the "complete failure" of the Modi government to execute a recovery from the COVID-19 pandemic.
"Forty-three per cent of people were in the labour force in February

Congress, Congress manifesto

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

BJP second list: The party has now declared candidates for 76 out of the 230 seats in the Madhya Pradesh Legislative Assembly

Indian football team head coach Igor Stimac has lauded senior players Sunil Chhetri and Sandesh Jhingan for "brilliantly" guiding the younger team-mates after the side qualified for the round of 16 in Asian Games despite a controversial build-up.
A rag-tag team with just Chhetri and Jhingan as notable names was assembled in the eleventh hour after the Indian Super League clubs refused to release their players named in the original squad.
The team reached Hangzhou just hours before the first group match was to be played. The team lost 1-5 to China after playing the match without a single training session. The strategy sessions were held in flight and on transit.
A 1-0 win over Bangladesh and a 1-1 draw against Myanmar took the team to knockouts as group runners-up, and they will face mighty Saudi Arabia in their round of 16 match on Thursday.
"We qualified for the knockouts round despite all the problems. I am very proud of the boys especially for Sunil and Sandesh. They led these .

Igor Stimac, India football team

Indian swimmers continued to disappoint in the pool with none of them managing to qualify for the finals of their respective events at the Asian Games here on Wednesday.
Olympian Maana Patel finished fifth in heat 3 and 13th overall with a timing of 1:03.55s but failed to qualify for the final of women's 100m backstroke.
It turned out to be a disappointing outing for India's Nina Venkatesh as well as she finished fourth in her heat and 14th overall with a timing of 1:03.89s to crash out of the women's 100m butterfly.
The top eight swimmers progressed to the final.
Srihari Nataraj then clocked 1:49.05s to finish 10th in men's 200m freestyle heats. He has been kept as a second reserve for the final.
Competing in the women's 100m breaststroke, India's Lineysha also failed to progress to the medal round, touching the pad in the sixth position with a timing of
1:15.60s in her heat.

Swimming

The Indian team of Angad Vir Singh Bajwa, Gurjoat Khangura and Anant Jeet Singh Naruka bagged the team bronze medal in the men's skeet event of the Asian Games here on Wednesday.
The trio shot a total of 355 to settle for the third position as India continued their dominance at the range.
Hosts China won the gold medal while Qatar claimed the silver.
The Indian women's team, however, crashed out of the shotgun skeet event by finishing in the fourth position behind Kazakhstan, China and Thailand.

Indian shooting contingent for Asian Games 2023: Photo: NRAI

Indian shooting contingent

Japanese business solutions provider Fujifilm Business Innovation on Wednesday announced its foray into the office printer business in India to tap the high growth potential.
India will be the 15th operation for the company in the Asia Pacific (APAC) region for the office printer business and is targetting government offices as one of the main customers, Fujifilm Business Innovation Asia Pacific Pte Ltd President Masatsugu Naito said.
The global office printing market is around 3.3 million units a year, while that of APAC is about 0.5 million.
India accounts for about 25 per cent of the APAC market, he said here at the launch of the company's A3 multifunction printer Apeos Series for the Indian market.
While China remains the bigger market, Naito said in the APAC region, India has a huge potential considering how the country's economy has grown and is an "attractive location for all industries".
To establish its foothold in the market, the company is first launching products in th

insurance banking

BFSI sector saw highest rise in data science, analytics jobs in 2023: Study

Sale of high-value policies picked up from mid-Mar: Kotak Life Insurance MD

Indian govt portal upgrade may halt new debt issues, says merchant bankers

FinMin's special campaign in seven districts to deepen financial inclusion

Online players, agents may have to disclose insurance commission

More capital support to IDBI Bank may have adverse impact on LIC: DRHP

Banks, insurance firms to work as usual in new guidelines for Lockdown 2.0

Irdai rejects general insurers' call for blanket easing of solvency margins

Hike in deposit insurance cover will not hit banks' balance-sheets: RBI

Lower bonuses for domestic insurance bankers as firms' revenues take a hit