RBI proposes to rationalise MDR to encourage setting up of more point of sale terminals as use of plastic cards has gained traction for purchases of goods and services.
K Sanath Kumar, the new chairman and managing director of Kolkata-based National Insurance, said that the impact of higher premium would be felt in the next two years.
They were expecting Finance Minister Arun Jaitley to clear the doubts over implementation of the new computation system.
Life insurance companies will now be a part of a closed user groups to share data relating to new policy proposals and claims.
Investors are seeking greater changes on the ground – things like corporate governance and operational autonomy that will give higher valuations.
Budget for 2016-17 seeks to impose a retirement tax at the time of final withdrawal on 60 per cent of contributions made after April 1, 2016, to EPF and other schemes.
FM has set the ball rolling on consolidation of unwieldy and economically weak state-run banks even as he kept the door open for lowering stake in them below 50%.
The Budget proposal of Rs 25,000-crore recapitalisation for PSB has fallen short of expectation as the amount may not be enough to cover the stress these banks are going through.
GIC and International Finance Corporation have increased their stakes in Bandhan Bank, which is into its sixth month of operation.
Reserves rose $347 million in the week to February 12 to $351.832 billion, Reserve Bank of India said in its weekly statistical report.
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