LIVE: Rajya Sabha passes bill to hike FDI in insurance sector to 74%

By raising the FDI limit to 74%, the current provision of control being vested with Indian companies had to be dropped. Stay tuned for Latest LIVE news

11:25 PM

4th T20I: India beat England by 8 runs in Ahmedabad, level series 2-2

8:56 PM

Delhi CM Arvind Kejriwal to attend a 'mahapanchayat' in support of farmers on April 4 in Haryana

AAP leader and Delhi CM Arvind Kejriwal to attend a 'mahapanchayat' in support of farmers on April 4 in Jind, Haryana: Sushil Gupta, AAP Haryana Co-Incharge

8:53 PM

LIVE: Rajya Sabha passes bill to hike FDI in insurance sector to 74%

Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.

 

"The laws of the land are fairly mature. They can control every operation which happens in this country. (No one can) take it (money) away and make us sit and watch," she said replying to a debate on the bill.

 

Giving out reasons for the decision to raise the foreign direct investment (FDI) limit, she said insurance companies are facing liquidity pressure and the higher limit would help meet the growing capital requirement.

 

On change of definition of 'control' of the insurance company with the hike in FDI limit, she said control means right to appoint a majority of directors, control the management of policy decisions including by virtue of their shareholding or management right or shareholder agreements or voting agreements. By raising the FDI limit to 74 per cent, the current provision of control being vested with Indian companies had to be dropped.

8:39 PM

Jammu and Kashmir Appropriation (No.2) Bill, 2021 passed in Lok Sabha

The Jammu and Kashmir Appropriation (No.2) Bill, 2021 passed in Lok Sabha

8:01 PM

Actor Arun Govil, Lord Ram of TV show 'Ramayan', joins BJP

Days before assembly polls begin in West Bengal and three other states, actor Arun Govil, who played the role of Lord Ram in the famous TV serial Ramayan, joined the BJP on Thursday, saying his decision was triggered by TMC supremo Mamata Banerjee 's "irritation" to the chant of Jai Shri Ram.

 

Govil joined the BJP in the presence of its general secretary Arun Singh and Union Minister Debasree Chaudhuri after the party announced the names of 148 candidates for the West Bengal assembly polls.

 

"West Bengal Chief Minister Mamata Banerjee's irritation to Jai Shri Ram was a trigger point for me to join the BJP. And there is nothing wrong in saying Jai Shri Ram....it is not a slogan, not even a political slogan. It is a way of life for us, it represents our culture and ethos," he told the media at the BJP headquarters.

7:33 PM

PM Fasal Bima Yojana playing an important role in protecting economic interests of hardworking farmers: PM

PM Fasal Bima Yojana is continuously playing an important role in protecting the economic interests of hardworking farmers by reducing the risk associated with weather uncertainties: PM Narendra Modi's reply to a letter congratulating him on completion of 5 years of PM Fasal Bima Yojana.

7:16 PM

Rajya Sabha passes bill to hike FDI in insurance sector to 74% from current 49%

Rajya Sabha passes bill to hike FDI in insurance sector to 74% from current 49%

7:10 PM

Majority of directors, key personnel to be resident Indians; percentage of profits to be retained in India: FM

Majority of directors, key personnel will be resident Indians; percentage of profits to be retained in India: FM on FDI safeguards

7:00 PM

FM replies to the debate on The Insurance (Amendment) Bill, 2021 in Rajya Sabha

6:59 PM

Insurance companies facing liquidity pressure, says FM replying to debate on bill to raise FDI limit to 74%

Insurance companies facing liquidity pressure, says FM Sitharaman replying to debate on bill to raise FDI limit to 74% from 49%

6:58 PM

Vijay Mallya, Nirav Modi, Mehul Choksi are all coming to face law of the land, says Sitharaman in Rajya Sabha

Vijay Mallya, Nirav Modi, Mehul Choksi are all coming to face law of the land, says Finance Minister Nirmala Sitharaman in Rajya Sabha

6:58 PM

Vijay Mallya, Nirav Modi, Mehul Choksi are all coming to face law of the land, says Sitharaman in Rajya Sabha

Vijay Mallya, Nirav Modi, Mehul Choksi are all coming to face law of the land, says Finance Minister Nirmala Sitharaman in Rajya Sabha

6:02 PM

Delhi HC directs presence of Future Group's Kishore Biyani and others before it on April 28

Delhi High Court directs presence of Future Group's Kishore Biyani and others before it on April 28

5:52 PM

Delhi HC restrains Future Group from moving ahead with Rs 24,000 crore Reliance deal on Amazon's plea

The Delhi High Court Thursday upheld the Singapore's Emergency Arbitrator's (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commence giant Amazon.

 

Justice J R Midha directed Kishore Biyani-led FRL not to take further action on the deal and held that the group wilfully violated Singapore Arbitrator's order.

 

The high court directed the Future Group and its directors to deposit Rs 20 lakh cost in Prime Minister's Relief Fund for providing COVID-19 vaccines to senior citizens of Below Poverty Line (BPL) category. The court directed the presence of Biyani and others before it on April 28 as also attachment of their properties.

5:14 PM

About 200,000 jobs added in IT sector since 2019: Ravi Shankar Prasad

The IT sector has contributed 8 per cent to the country's GDP and two lakh new jobs have been added in the sector since 2019, Information Technology Minister Ravi Shankar Prasad told the Rajya Sabha on Thursday.

 

He said the government also intends to lay BharatNet in villages all over India and the prime minister wants this to be accomplished in the coming 1000 days.

 

Replying to supplementaries during Question Hour, the minister said India has attained its image in the world due to digital India. READ MORE...

4:12 PM

Jai Kisan Andolan launches 'MSP loot calculator' to show losses incurred by farmers

The Jai Kisan Andolan on Thursday launched an "MSP Loot Calculator", which will calculate the losses incurred by farmers when forced to sell crops below the minimum support price. According to Avik Saha, the national convenor of Jai Kisan Andolan - a nationwide movement dedicated to farmers' rights, the calculator would be sharing new data every day showcasing the losses faced by farmers in different parts of the country in association with the sale of the variety of crops that they grow.

 

"Its purpose is to expose the false propaganda of the government that the farmer is getting the MSP announced by the government," Saha said.

 

New findings by the loot calculator about different crops in different states and the losses incurred by farmers will now be shared daily on Jai Kisan Andolan's social media pages, he added.

3:34 PM

Rajya Sabha adjourned again amid uproar over Insurance bill

Rajya Sabha proceedings were adjourned briefly on Thursday amid Opposition uproar over the Insurance (Amendment) Bill 2021.

 

Finance Minister Nirmala Sitharaman moved a bill in the Upper House to consider for further amendment of the Insurance Act 1938.

 

Leader of Opposition Mallikarjun Kharge said the insurance amendment bill 2021 will put people in trouble. The Insurance Act 1938 is being amended for the third time.

3:07 PM

Five killed, 46 injured as mini-truck overturns in MP

Five people were killed and 46 others injured after a mini-truck carrying members of a marriage party overturned in Madhya Pradesh's Mandla district on Thursday, a police official said.

 

The accident took place near Potla village around 11 am when the victims were on their way back to Dev Dongri village from Chandera after the wedding, district Superintendent of Police Yashpal Singh Parihar said.

 

The deceased included two women and three men, the official said. The injured persons were referred to hospitals in Mandla and neighbouring Jabalpur, he said.

2:43 PM

Jio, Vodafone Idea make upfront payments for spectrum, says report

Reliance Jio and Vodafone Idea have paid Rs 15,019.84 crore and Rs 574.65 crore upfront to the telecom department for the spectrum bought in a government-held auction, the Economic Times reported Thursday.

 

Bharti Airtel's payment is awaited. The government sold airwaves worth Rs 77,814 crore in 4G spectrum auction that ended on March 2.

 

Business Standard reported two weeks ago that Reliance Jio had emerged the highest bidder in the auction, beating Airtel and Vodafone Idea by a wide margin. The government would get Rs 77,815 crore from the two-day auction — one of the shortest in a decade. While the amount has exceeded the government expectation, the total mop-up is far below the Rs 3.92 trillion worth of airwaves put up for sale. READ ON...

2:01 PM

Vehicle scrapping policy will be 'win-win' policy; to help reduce pollution: Nitin Gadkari

The vehicle scrapping policy will be a "win-win" policy that will eventually help in improving fuel efficiency and reduce pollution, Union minister Nitin Gadkari said on Thursday. Making a statement regarding vehicle scrapping policy in the Lok Sabha, the Road Transport, Highways and MSMEs Minister said the policy will also lead to an increase in the country's automobile industry turnover to Rs 10 lakh crore from the current Rs 4.5 lakh crore.

 

Announced in the 2021-22 Union Budget, the policy provides for fitness test after 20 years for personal vehicles, while commercial vehicles would require it after the completion of 15 years.

 

Gadkari has also issued an advisory to automakers, advising them to provide an incentive of a five per cent rebate for those buying a new vehicle after producing a scrapping certificate. Noting that the policy will be a "win-win" policy, the minister said it will help improve fuel efficiency, reduce pollution and GST income will also rise due to the purchase of new vehicles.

11:42 AM

IPS Rajnish Seth, currently DG Anti-corruption Bureau, Maharashtra takes additional charge as DGP of the state

10:54 AM

Arvind Subramanian resigns from Ashoka University

Noted economist Arvind Subramanian has resigned as professor from Ashoka University, citing the circumstances involving Pratap Bhanu Mehta’s exit and the fact Ashoka, even with its private status and private capital, can no longer provide space for academic expression and freedom, The Indian Express reported.

 

10:44 AM

Karnataka Waqf retracts circular restricting loudspeaker use in mosques

The Karnataka State Board of Auqaf (waqf) withdrew the circular restricting the management of mosques and dargahs from using loudspeakers between 10 pm to 6 am during namaaz.

 

Earlier, on March 17, the board, in a circular, had restricted the management of mosques and dargahs from using loudspeakers between 10 pm to 6 am during namaaz citing the Noise Pollution (Regulation and Control) Rules, 2000, and had said loudspeakers used during daytime shall adhere to ambient air quality standards in respect of noise. Read on...