Insurance flotation norms
New Delhi, Sept. 19: General insurance companies planning to tap the capital market for funds should have a 10-year experience and will have to seek prior approval from the sector regulator, IRDA said. “No general insurance company shall approach Sebi for public issue of shares and for any subsequent issue ... without the specific previous written approval of the authority,” IRDA said in the draft norms for initial public offering of non-life insurers.
New Delhi/Chennai, Sept. 19: The second flight of Air India’s Boeing 787 Dreamliner was delayed because of a “minor” problem in the plane’s air conditioning. The aircraft that was to operate on the Delhi-Bangalore route was scheduled to depart at 4.30pm, but finally took off at 6.35pm after the problem was rectified.
New Delhi, Sept. 19: The RBI today said it is planning to come out with financial products on the lines of gold ETFs to give options to investors to take advantage of price movement in the precious metal.
New Delhi, Sept. 19: Norway’s Telenor today said it is aiming to self-finance its Indian operations by the end of 2013 through a restructuring programme.
New Delhi, Sept. 19: The inter-ministerial group today recommended the deallocation of three more coal blocks and deduction of bank guarantee of four mines, including one given jointly to ArcelorMittal and GVK Powers, an official statement said.