August 20, 2020

8 min read

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The health segment in non-life insurers’ portfolio has become the biggest line of business, overtaking the motor segment. In fact, by the end of the year, the health segment likely to be far ahead of motor, said T L Alamelu, member (non-life) of Regulatory and Development Authority of India (Irdai).

The pandemic has promted people to buy health covers, as the uncertainty around the virus and its effects are rising with the number of infections going up daily. This fear among people is aptly reflected in the huge response the Corona Kavach policy has got since launch. Corona Kavach is a standard product that offers protection against covid-19 virus.

According to Irdai, some 750,000 Corona Kavach policies were sold as of August 14, covering 1.29 million lives and the premium colleted is Rs 215 crore. The demand for Corona

In a bid to dispel concerns over the new faceless assessment scheme, Central Board of Direct Taxes (CBDT) Chairman P C Mody has met income tax field units to appraise them of the new scheme and explained the nitty-gritty of its implementation.

A source said that in a virtual meeting on Tuesday, Mody explained the faceless assessment and taxpayers’ charter and detailed the reallocation and reorganisation aspects of the department’s manpower.

“He elucidated that it was being done within the existing manpower preferably at the existing locations and sought to dispel all kind of misgivings and misapprehensions which may have been reflecting on the minds of the officials of the department with regard to the national launch of the faceless assessment scheme,” according to the source.

Mody underlined the fact that the faceless assessment scheme’s implementation would not cause

The Securities and Exchange Board of India (Sebi) has proposed to increase the minimum free float for companies relisting after undergoing the corporate insolvency resolution process (CIRP). The capital regulator has also called for greater disclosures to ensure better price discovery and transparency.

The move is triggered by the extreme movement in the Industries’ stock. The company’s shares had surged more than 450 times after it got relisted following the acquisition by Pantanjali Ayurved under the CIRP. The sharp rise on the ultra-low free float of less than a per cent had sparked a debate whether and the stock exchanges should revisit rules to ensure fair price discovery.

In a discussion paper issued on Wednesday, sought the market’s feedback on whether the threshold for minimum public shareholding (MPS) at the time of relisting should be set at 5 per