The insurance regulator – Insurance Regulatory and Development Authority of India (Irdai) – has finalised the guidelines for standard covid health products after a series of draft regulations were issued by it to the insurance companies in the past one month. Non-life insurers, which include standalone health insurers have to offer two products – Covid Standard Health Policy (Corona Kavach) and Covid Standard Benefit based health policy (Corona Rakshak) to consumers from July 10. Earlier, the regulator had toyed with idea of an indemnity-based product from June 15 specifically for Covid-19, but later the…

Shares of Ruchi Soya Industries hit a life-time high of Rs 1,519, on the BSE today. The stock has soared nearly 90 times or 8,988 per cent from the level of Rs 16.90 touched on January 27, 2020 –when it was re-listed on the stock exchanges. The Patanjali group acquired Ruchi Soya for around Rs 4,500 crore in September 2019 and owns a 98.87 per cent stake in the company. As on March 31, 2020, promoters held 99.03 per cent stake in Ruchi Soya Industries. The public shareholders held just 0.97 per cent holding. …

L’Oréal USA’s CMO talks about how she applies lessons she learned playing field hockey to marketing one of the world’s top beauty brands and how the company is giving back during the pandemic.Free Book Preview No BS Guide to Direct Response Social Media Marketing The ultimate guide to – producing measurable, monetizable results with social media marketing. June 28, 2020 2 min readOpinions expressed by Entrepreneur contributors are their own. Gretchen Saegh-Fleming is CMO for L’Oréal USA. For #ThePlaybook, she talks with host David Meltzer about her high school field hockey experiences and how it taught her about…

The government has allowed individuals under the new lower tax regime to claim I-T exemption on conveyance allowance received from employers. The Central Board of Direct Taxes (CBDT) has now amended Income Tax rules to prescribe certain exemptions which can be availed by the employees. These include any allowance granted to meet the cost of travel on tour or on transfer, any allowance, whether, granted on tour or for the period of journey in connection with transfer, to meet the ordinary daily charges incurred by an employee on account of absence…

Securities and Exchange Board of India (Sebi) staffers have expressed their displeasure with the market regulator for considering external candidates for the post of executive director (ED). The Sebi Employee Association (SEA) sent a letter, dated June 26, to chairman Ajay Tyagi saying “external candidates may be considered only when no suitable internal candidates are available”. On this very day, Sebi had put out an advertisement inviting applications for recruitment of two EDs on contractual or deputation basis for a three-year period and asked candidates to apply by July 17. There…

June 26, 2020 6 min readOpinions expressed by Entrepreneur contributors are their own. By any metric, Quibi is a failure. The mobile-video platform hit #1,477 in the IOS app store’s rankings in early June. Advertisers are renegotiating due to low viewership. Even founder Jeffrey Katzenberg expressed disappointment. Two months after launch, he stated that, “It’s not up to what we wanted. It’s not close to what we wanted.” How did this happen?  At first glance, Quibi’s success seems guaranteed. They had the leadership. Jeffrey Katzenberg and Meg Whitman are at the helm. They’re two of the biggest names in…

The economy is facing unprecedented disruption and uncertainty due to the Covid-19 pandemic. In response, the government has announced certain relief measures. One such measure is reducing the interest liability on tax payments falling due between March 20 and June 29, but paid by June 30, 2020. However, the government had not extended the due date for payment of the first instalment of advance tax. To provide readers with some context, advance tax is a mechanism by which the government collects income tax in instalments, spread during the financial year in which the income is earned or received.…

A joint move by SEBI and RBI for liquidity window to the mutual funds has helped induce confidence in the system, though not much demand for the scheme was seen, the capital market regulator said on Saturday. In view of the possible redemption pressure that the mutual fund industry may face after the abrupt winding up of six debt schemes of Franklin Templeton Mutual Fund, the central bank announced a special liquidity window of Rs 50,000 crore for mutual funds in April end. “The move by SEBI & RBI jointly to…