Department Financial News

By Amruta Khandekar and Shristi Achar A

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Shriram General Insurance intends to increase its policy renewal rate to around 60% in the next two years from 40% currently.

India offered officials from various cybercrime and police departments training in cryptocurrency forensics and investigation during the financial year 2022–2023.

Myer’s outgoing chief executive John King predicted Black Friday trading to beat Christmas this year, after reporting improved turnover in the past seven weeks.

India is planning to ease and expand some norms for five sectors to help them better utilise its $24 billion industrial incentives aimed at boosting local manufacturing, two government officials said on Thursday. The 1.97-trillion rupees production-linked incentive scheme (PLI), launched in 2020, covers 14 sectors ranging from electronic products to drones but has been successful only in a handful of them, triggering reviews. The changes are being planned in the textiles, pharmaceuticals, drones, solar and food processing industries, which together form nearly a third of the PLI scheme. The government plans to include more products in the textile sector such as man-made fibre and give firms an additional year to meet the manufacturing targets required to claim incentives for the scheme, the officials said. The scheme will also be extended by a year for the pharmaceuticals sector, while the financial allocation will be raised for incentive payouts to the production of drones to 3.3 billion rupees from the current 1.2 billion rupees, the officials added. For the food processing sector, India plans to extend the scheme to millet-based products and include the production of ingots and wafers in the scheme for the solar module sector, the officials said. India's trade ministry, which oversees the scheme's implementation, is discussing the changes with other federal departments, they said. The officials did not wish to be named as details of the discussions have not been made public. The trade ministry did not respond to an emailed request for comment. «None of the changes currently being discussed require fresh financial allocation, but will draw from the scheme's savings,» one of the officials said. Consumer-goods

More than half of the firms on the Commonwealth’s legal services panel have failed to meet pro bono targets, putting at risk their ability to win lucrative government work.

₹500 crore assignments from the Central Government. According to a report by the The Indian Express, the Big Five consultancy firms bagged 308 assignments from several government departments, 16 ministries, and organsation between April 2017 and June 2022.

Complaints about air travel are soaring

Hong Kong Immigration Department has made pre-arrival registration mandatory for Indian travellers. Indian nationals travelling to Hong Kong will need to complete a pre-arrival registration process online before they board their flight. «Indian nationals must apply for and successfully complete pre-arrival registration online before they can visit or transit the HKSAR visa-free (if seeking to enter the HKSAR during transit). Pre-arrival registration is not required for Indian nationals in direct transit by air and not leaving the airport transit area,» the Hong Kong Immigration Department said on its website. An Indian national can make use of the online service to apply for pre-arrival registration free of charge if he/she: Upon successful registration, travelers will receive a computer-generated notification slip. This slip must be printed on A4-sized paper and presented at the airline’s check-in counter. The details on the notification slip must match the traveler’s passport information exactly. Failure to present this document may result in denied boarding. «When applying for pre-arrival registration, the registrant must truthfully enter the correct information. The information the registrant provides in the pre-arrival registration needs to be exactly the same as it appears in his/her passport and he/she must use the same passport that is linked to it when visiting the HKSAR,» Honk Kong immigration department has warned travellers.

Ireland has taken a big step to ease the immigration process for nurses, a critical job in the country. In response to a substantial visa backlog, the Nursing and Midwifery Board of Ireland has announced a «one-off» extension of the validity of English tests for these nurses, extending the period for three months. This decision was prompted by the challenging situation faced by nearly 1,000 nurses from abroad. They were at risk of their completed English tests expiring before they could secure their visas to practice in Ireland. Think you check all the immigration boxes? Find out Nurses moving to Ireland for work in thehealthcare system from foreign countries are required to submit a completed English test as part of their visa application, in line with the standard practice in the country. This problem had previously emerged during the COVID-19 pandemic due to travel restrictions, which prevented applicants from traveling to Ireland to renew their tests or take necessary actions, leading to test expiration issues. “On recognition of the delays caused beyond the control of the applicants, NMBI decided to offer a once-off extension to nurses and midwives impacted by visa delays,” an NMBI spokesperson told The PIE. The delays in visa processing also led to visa rejections from the Department of Justice for some nurses, compounding the problem. The NMBI is currently working to process the existing backlog of applications that arose due to these visa delays attributed to issues within the Department of Justice, as stated by their spokesperson.

The News Minute. The weather department predicted thunderstorms in Bengaluru until November 10.

Diwali as meteorological conditions are likely to become slightly favourable. The city's Air Quality Index (AQI) was at 420 at 8 am on Thursday, tad lower than 426 at 4 pm on Wednesday.

₹84.55 crore, according to NSE data. DIIs bought equities resulting in an inflow of ₹524.47 crore, the exchange data showed.The price for a barrel of U.S.

Hindustan Times. This came ahead of the Hindu festival ‘Diwali’. The officials informed that these suspected adulterated food products were brought to Moga from Jodhpur and Abohar for further processing, the report said.

The Globe and Mail said in its report. The thousand-dollar contract involved discussion on how Canadians’ tax dollars can be used efficiently and invested in the priorities "that matter most to them".

fire at a shisha bar and restaurant in Bengaluru prompted the chef to jump off the building. This was captured in a horrific video; the chef remains in a coma. The building had not been inspected by the fire and emergency services department because it has no mandate to inspect buildings under 21 metres.

A man in Arkansas has been arrested and charged with false imprisonment and other offences after allegedly hiding his five-year-old daughter in a secret compartment that was nailed shut inside his closet.

Slow Horses’ is set to make a comeback after its two successful seasons in the past. The new trailer for season 3 was released on November 7, 2023 for the fans. Available on Apply TV+ and rated highly, Slow Horses is based on Mick Herron’s Slough House book series.

MUMBAI : The Mumbai bench of the National Company Law Tribunal (NCLT) has directed the income tax department to refund ₹11.89 crore to insolvent travel firm Cox & Kings. “We direct the income tax department to refund the amount of ₹11.89 crore adjusted by them towards outstanding dues of the corporate debtor (Cox & Kings) within four weeks from the date of receipt of the order," said a bench led by Justice Lakshmi Gurung in an order issued on 1 November but uploaded on the official website on Tuesday.

NEW DELHI : The law to improve the ease of doing business, passed by Parliament a few months ago, will need continuous upgrades, commerce minister Piyush Goyal said on Wednesday. The government is currently consulting with the industry and seeking feedback to upgrade the Jan Vishwas (Amendment of Provisions) Bill, 2023, to address challenges to ease of doing business in India. “With our best intentions, the Jan Vishwas 2.0 bill will take us one step forward, but we will possibly need Jan Vishwas 3.0," Goyal said at a conference on ease of doing business organized by CII.