MUMBAI: The Insurance Regulatory and Development Authority of India (IRDAI) has asked the Life Insurance Corporation (LIC) to review the return on its flagship Jeevan Akshay pension plan which provides regular income against upfront premium. The regulator wants the insurance company to ensure that returns are in line with yield on LIC's investments.

The directive comes at a time when the corporation is seeing record inflows into the pension plan, which offers a guaranteed return of 6.75-7% even as returns from government bonds have crashed. The yield on a 10-year government bond has fallen to a low of 6.5% as banks, flush with funds following demonetisation, are chasing investment avenues in the absence of credit growth.

DHARAMSALA: Bank employees will conduct "March to Parliament" on September 15 to draw the government's attention towards various issues, Deepak Kumar Sharma, General secretary of SBI Officers Association, Chandigarh Circle, said.

Sharma added that as regards the banking sector there is a long list of issues like shortage of staff, real recovery of NPAs, withdrawal of FRDI Bill, increase of service charges of public, Compensation of Demonetisation etc.

Chennai, Sept. 12 (PTI): The unified AIADMK on Tuesday resolved to annul the appointment of V.K. Sasikala as the party's interim general secretary, party sources said.

It said the party will not accept anyone other than its founder, the late M.G. Ramachandran, and the late chief minister J. Jayalalithaa as general secretary.

An Air India pilot union has expressed apprehension over the aviation regulator Directorate General of Civil Aviation (DGCA)’s reported warning to pilots for not complying with post-flight breath analysis test on international flights.

“We have come to know that DGCA is contemplating suspending licences of 132 pilots and 400 cabin crew…Kindly enlighten us as to why DGCA official in charge of Air Safety did not conduct any audit for the past two years,” Indian Commercial Pilots' Association (ICPA) General Secretary Captain T. Praveen Keerthi said in a letter to DGCA chief B.S.Bhullar on Monday.

Automobile manufacturers across segments continued to make large dispatches to their dealers ahead of the festive season leading to a substantial increase in their wholesale volumes in August. Most of the growth in volumes was led by the utility vehicle (UV) and scooter segments while the medium and heavy vehicle (M&HCV) segment continued to recover post-GST. Dispatches in the passenger car segment increased by 11.8% y-o-y to 198,811 units while UV volumes grew by a whopping 19.62% y-o-y to 78,664 units. The growth in the PV segment was driven mostly by Maruti Suzuki on the back of increased production capacity because of the commissioing of the Gujarat plant.

MUMBAI: Tata Motors would invest Rs 1,500 crore across various segments of freight-haulers to cement its leadership credentials after the country’s biggest truck-maker harnessed a robust product portfolio to help regain some of the lost market-share in the past couple of months.

Contrary to what some would believe the figures are not a result of “GST discounts” but a “strong product portfolio,” supported by greater engagement with dealers and customers, Girish Wagh, the newly appointed head of the commercial vehicles (CV) division told ET in his first interview since taking up the job. “Customers do not buy on price alone, they also buy on comfort.”

To bring in transparency in food safety inspection and sampling, food regulator FSSAI today put in place a nationwide online platform and asked states to adopt this system as it would help eliminate discrepancy and make food safety officers accountable.

The web-based 'FoSCoRIS' system will help verify compliance of food safety and hygiene standards by food businesses as per the government norms. The new system will bring together all key stakeholders — food businesses, food safety officers (FSOs), designated officers, state food safety commissioners — on a nation-wide IT platform and data related to inspection, sampling and test result data will be shared seamlessly by all the officials.

NEW DELHI: Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 2,525 crore across business segments.

"The construction arm of L&T has won orders worth Rs 2,525 crore business segments," the engineering and construction major said in a BSE filing.

The BSE benchmark Sensex reclaimed the 32,000-mark by surging about 156 points in early trade on Tuesday on sustained buying by domestic investors ahead of key macroeconomic data to be released later in the day.

The 30-share Sensex was up 155.78 points, or 0.48 per cent, higher at 32,037.94 with sectoral indices led by metal, realty, consumer durables, FMCG and capital goods stocks trading in the positive zone.

HDFC Bank hit a new high of Rs 1,840 on BSE on Tuesday in intra-day trade, surpassing information technology (IT) giant Tata Consultancy Services (TCS) in market capitalisation (market-cap) ranking.

HDFC Bank with market-cap of Rs 473,944 crore came in at number two position in overall ranking ahead of TCS which had market-cap of Rs 470,934 crore at 10:24 am; the BSE data showed.

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