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Business News: Edelweiss rejects Tokio bid to get controlling stake in insurance JV

Business News: Edelweiss rejects Tokio bid to get controlling stake in insurance JV
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United statesArthur gallagherJun tokoraRujan panjwaniEdelweiss financial services ltdTokio marine holdingsTokio marineEdelweiss tokio life insuranceInsurance amendment bill

Interim Budget: Road to reforms to go through states

States will get a Rs 75,000 crore boost in the form of interest-free loans to pursue reforms and the assistance will be linked to stipulated reform milestones, she said. Finance secretary TV Somanathan clarified this assistance will be a part of the Rs 1.3 lakh crore capex loans that the Centre has budgeted to extend to states in FY25.

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Interim Budget 2024: Plans afoot to privatise a state-run bank and a general insurance firm

The government is also expected to give final shape to the Insurance Amendment Bill, which is slated to be introduced in the next financial year, paving the way for strategic reforms in the sector, the people said, adding that some of the key announcements made during the second term of the Modi government, including the privatisation of two state-run banks and one general insurance firm, are expected to get going in 2024-25.

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Broker s call: HDFC Life (Buy) - The Hindu BusinessLine

Broker s call: HDFC Life (Buy) - The Hindu BusinessLine
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Vibha padalkarNiraj shahInsurance amendment billLife insurersClaims servicingCustomer experience

Finance ministry opts to simplify Insurance Act first; industry awaits reforms

The objective of this exercise is to simplify and remove references to outdated provisions. While the industry was looking for major reforms, including composite license, lower capital requirement, captive insurance license and risk-based pricing, the draft insurance amendment bill 2023 has not made any major changes to the existing Act.

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