The Insurance Regulatory Development Authority of India (IRDAI) has recently expressed concerns over high commission payouts to motor insurance service providers (MISPs) during a meeting with leading executives from non-life insurance companies. The Insurance Regulatory and Development Authority of India (Irdai) revealed that commissions for new private car insurance policies ranged from 25% to 57%. …
Over the past few days, the Indian stock market has been witnessing a significant fall. BSE Sensex has dropped by 5.7% over the past month, with the Nifty down 7% from its all-time high of 26,277.35. This fall has been fueled by a combination of geopolitical tensions, uncertainty surrounding the upcoming U.S. election, and a …
Union Finance Minister Nirmala Sitharaman said that the Indian government is focusing on 4 main areas—infrastructure, investment, innovation, and inclusiveness—to make India a developed nation by 2047. She shared this vision during a talk with students at the Wharton School of the University of Pennsylvania while on her way to Washington, D.C., to attend meetings …
The International Monetary Fund (IMF) has maintained its growth forecasts for India, predicting a growth rate of 7% for FY25 and 6.5% for FY26. According to the IMF’s latest World Economic Outlook report, the pent-up demand from the pandemic has been largely used up as the economy returns to its usual growth pace. India’s growth …
On October 18, 2024, Gold prices reached $2,700 per ounce for the first time. This increase is driven by escalating geopolitical tensions in the Middle East and uncertainty surrounding the upcoming US elections. In India, the price of 24K gold has surpassed ₹78,000 per 10 grams, while MCX gold futures have exceeded ₹77,000 per 10 …
The Reserve Bank of India (RBI) has prohibited four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans due to their practice of charging excessively high interest rates. The affected entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance—which provides personal, consumption, and loans for micro, small, …
The Maharashtra government has announced the Diwali Bonus 2024 under the Mukhyamantri Ladki Bahin Yojana, which is designed to help women in the state by giving them direct financial support. In the latest update, officials will deposit ₹3,000 into the bank accounts of eligible women as the fourth and fifth payments of the Ladki Bahin …
In a significant move, the Reserve Bank of India (RBI) has shifted its monetary policy stance after 20 months of holding rates higher to combat inflation. The recent monetary policy committee (MPC) meeting saw the stance change from “withdrawal of accommodation” to “neutral.” This shift has sparked curiosity among market participants about what it means …
Avul Pakir Jainulabdeen Abdul Kalam, born on October 15, 1931, in Rameswaram, India, was a renowned scientist and politician who served as the President of India from 2002 to 2007. Kalam graduated from the Madras Institute of Technology in 1958 and joined the DRDO (Defence Research and Development Organisation). In 1969, he became the Project …
India has achieved a significant milestone in its renewable energy journey, surpassing 200 GW (gigawatts) of total renewable energy capacity as of October 10, 2024. According to the Central Electricity Authority, the current renewable energy-based electricity generation capacity stands at 201.45 GW. This accomplishment highlights India’s commitment to clean energy and its ongoing efforts to …
