Insurance regulatory Development Authority of India(IRDAI) has advised companies to not just rely on the credit ratings for their investments. The advice came after several insurers had invested in entities like IL&FS based on the credit ratings assigned to its debt instruments. The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous,statutory body… Continue reading Insurers must use judgment while investing, says IRDAI
Category: Daily Factly articles
Reliance Infrastructure Limited wins bid for greenfield airport in Rajkot for ₹ 648 crore
Reliance Infrastructure has bagged a contract from the Airport Authority of India to build a recently approved Greenfield airport at Hirasar,in Rajkot district of Gujarat.It had applied for a tender under Engineering,Procurement and Construction(EPC) model. A greenfield airport is one which is not constrained by prior work.It is constructed on unused land where there is… Continue reading Reliance Infrastructure Limited wins bid for greenfield airport in Rajkot for ₹ 648 crore
Higher capital adequacy for HFC’s muted
National Housing Bank (NHB),regulator of Housing finance companies(HFC’s) has proposed to increase the capital adequacy ratio of housing finance companies (HFCs) HFC’s to 15% in a phased manner.The proposed norms are being issued in the wake of liquidity problem being faced by HFCs after IL&FS crisis. As per the proposed roadmap,HFCs have to increase minimum… Continue reading Higher capital adequacy for HFC’s muted
Tariff hike to hit exports to U.S.
The US has announced its decision to terminate India’s designation as a beneficiary of its Generalized System of Preferences (GSP). This decision comes in the backdrop of US having concerns over a range of issues like (a) India’s new rules on e-commerce that affected firms such as Amazon and Walmart (b) Data localisation rules which… Continue reading Tariff hike to hit exports to U.S.
China targets 6 to 6.5% in shadow of trade war with U.S
China lowered its economic growth target for the year 2019 to between 6 to 6.5% of Gross Domestic product(GDP). The cuts to the GDP growth target comes in the backdrop of (a)Chinese economy facing pressure from a persistent slowdown (b)Rising trade tensions between US and China and (c)slowing global economy. Chinese Government have announced various… Continue reading China targets 6 to 6.5% in shadow of trade war with U.S
No bank guarantees meant a more expensive new Rafale deal
Indian government in 2016 inked a direct deal with the French government to purchase 36 new Rafale fighter jets.The Opposition parties have alleged that the government bought 36 Rafale fighter aircraft at a much higher price than the one that was being negotiated for 126 aircraft by the previous government. Rafale is a twin-engine medium… Continue reading No bank guarantees meant a more expensive new Rafale deal
Bid to privatise ground handling delayed
The Airports Authority of India (AAI) have delayed the announcement of the outcome of the bidding process due to higher royalties quoted by bidders for ground handling services.Earlier,AAI had invited bids to privatise ground handling services at airports in India. Ground handling activities include (a)passenger services such as check-in and baggage handling (b)aircraft handling (c)servicing… Continue reading Bid to privatise ground handling delayed
CURTAIN RAISER: AL NAGAH 2019
Exercise Al Nagah III,third in the series of bilateral joint military exercise between India and Oman will be held at Jabel Al Akhdar Mountains in Oman.In this exercise,both will exchange expertise and experience in tactics, weapon handling and firing. The exercise aims at enhancing interoperability in counter terrorist operations in semi-urban mountainous terrain. The first… Continue reading CURTAIN RAISER: AL NAGAH 2019
NSA surveillance programme to be shut
United States National Security Agency(NSA) is planning to end the highly controversial, once-secret, surveillance program for counter terrorism.It used to annually collect hundreds of millions of telephone call records to analyze the data for clues. The program was disclosed by Edward Snowden. It then became a focus of debate about maintaining balance between privacy and… Continue reading NSA surveillance programme to be shut
Supreme Court seeks Centre’s response on immigrants
The Supreme Court has sought a response from the Centre on a plea which has challenged the amendments made through the Passport (entry into India) Amendment Rules, 2015; the Foreigners (Amendment) Order, 2015 and the order issued by the Ministry of Home Affairs on December 26, 2016 under the Citizenship Act. These subordinate laws provide… Continue reading Supreme Court seeks Centre’s response on immigrants
