Insurance Regulatory and Development Authority of India (Irdai) on Monday said though Aadhar is not a mandatory requirement for Know Your Customer (KYC) in the insurance sector, it is the most simple form of KYC document.

"Aadhar is not mandatory for the (insurance) sector but is the most simple one. On the government level they are creating a platform for all the KYC.

Air India is looking for bridge loans worth up to $740 million to finance purchase of six Boeing 787-8 planes, according to a tender document.

While the government is working on final contours for a strategic disinvestment of its stake in loss-making Air India, the airline is ready with plans to fly to more overseas destinations.

State-owned power generation firm NTPC may soon be asked to relocate a biodiversity park at its Dadri thermal power plant, Uttar Pradesh, to meet the fly ash requirement of the highway sector.

The issue was flagged at a group of infrastructure meeting last week and Power and Coal Minister Piyush Goyal — who attended the meeting, along with Environment Minister Harsh Vardhan and railways and defence ministry officials — agreed to shift the eco-park to another location.

In a bid to bring back some of the lost zing, the markets regulator, the Securities and Exchange Board of India (Sebi), is looking to extend the trading hours for the derivatives market. Sources said Sebi was considering if trading in index futures could be kept open even after the cash market closed. The move will provide investors the tool to price in news flow that comes after market hours.

Currently, a lot of foreign investors use global platforms such as the Singapore Stock Exchange (SGX) and the Chicago Mercantile Exchange (CME) — which offer almost round-the-clock trading on some Indian contracts — for trading or hedging their underlying exposure to Indian stocks.

Goods and Services Tax (GST) Council, in its 20th meeting on August 5, authorised the Union government to move legislative amendments to increase ceiling of cess on motor vehicles to 25 per cent from present 15 per cent, the Finance Ministry informed on Monday. The official Twitter handle of the ministry also stated that GST Council will take the decision on when to raise the actual cess on motor vehicle in due course of time. “GST Council in its 20th Meeting held on 5th Aug, 2017 considered the issue that total tax incidence on motor vehicles after GST has come down. It recommended that Central Govt may move legislative amendments to increase max ceiling of cess on motor vehicles to 25% from present 15%,” the Finance ministry tweeted.

Over 100 women Congress workers on Monday staged a novel protest here by carrying a mock coffin of a gas cylinder to condemn the Centre's proposed move to withdraw subsidy for LPG.

The workers took out the mock funeral procession symbolising the death of gas cylinders, and placed them near the South Taluk office here.

Wipro, India’s third-largest IT services firm, said it has made its cloud-based Data Discovery Platform available for customers on Microsoft Azure through a “pay-per-insight” model.

To be hosted on Microsoft’s cloud computing platform Azure, the Data Discovery Platform is a big data analytics-as-a-service solution that can enhance the ability of businesses in sectors such as banking and financial services, retail, energy, education, and manufacturing to make better decisions using pre-built applications.

Indian savers have always been a protected lot. Saver-friendly government sponsored schemes, and the guaranteed 4% savings deposit rate had ensured that even accidental savers continue to get a reasonable return.

But demonetisation changed this balance as banks found themselves staring at a huge incremental interest payment on a deluge of deposits in just a short span of time. Also, when these deposits began to move out (60% outflow in the case of SBI), the math on lending rates turned dicey.

New Delhi: A Parliamentary panel will hear on 8 August the views of various stakeholders on the disinvestment of national carrier Air India and Pawan Hans Ltd.

While a group of ministers, headed by finance minister Arun Jaitley, is looking into various aspects of the proposed disinvestment of Air India, the government has already decided to sell its entire 51% stake in Pawan Hans Ltd (PHL), in which the rest 49% holding is with ONGC.

New Delhi: State-controlled NTPC Ltd is exploring the possibility of securing a national licence for setting up charging stations for electric vehicles across states.

Currently under The Electricity Act, 2003, a distribution licence is required to distribute power from the respective state electricity regulatory commissions (SERCs).

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