Categories

Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business

Popular Articles

Rs 4,551-cr FDI proposals get govt nod
The government has approved 17 foreign direct investment (FDI) proposals worth Rs 4,551 crore, including that of the Federal Agency for State Property Management of the Russian Federation to buy 20 per cent stake in telecom service provider Sistema-Shyam for Rs 3,051 crore. http://smallpersonalloans.org.uk

Debt recovery tribunal cannot accept equity shares
The Delhi high court last week ruled that equity shares cannot be considered as liabilities under the Recovery of Debts Due to Banks and Financial Institutions Act. Therefore, a claim to issuance of shares or delivery of shares in place of debt repayment cannot be regarded as an action seeking the recovery of a debt as defined in Section 2(g) of the said Act. This ruling against the order of the debt recovery tribunal in Delhi came in the case, Cochin International Airport Ltd vs Hudco.

News of the day

Bank of Maharashtra net up 23% y-o-y
Public sector lender Bank of Maharashtra"s net profit for the July-September quarter stood at Rs 86.68 crore, up 22.86 per cent against Rs 70.55 crore reported over the same period a year back.
International Business

Irda asks insurers for info on commission paid to banks

Sectoral watchdog Insurance Regulatory and Development Authority (Irda) today asked insurance companies to provide information on commission paid to the banks for selling policies. - Disclosure norms for insurance cos next week: Irda - Agents and their relevance to the insurance Industry - Oriental Insurance seeks Irda nod to open office in Doha - Irda asks insurers to disclose premium-awaited policies - Roadmap under preparation to meet IFRS deadline - Insurers cut rates as film makers rush for cover "In order to analyse the impact of various payments made to banks on the premiums and balance sheets of insurers, IRDA has decided to call for the required information," Irda said in a note to all insurers. The insurance regulator said it is receiving number of representations regarding the structure of payments of commission to the banks acting as corporate agents. The issue needs detailed examination to ascertain sustainability of the business through bancassurance channel and its impact on the insurers and the policyholders, it said. The information would be provided from April 1, 2008 to March 31, 2009 and between April 1, 2009 and June 30, 2009. The insurance watchdog said that incorrect and misleading information would be punishable in the Insurance Act, 1938.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

© Copyright 2009