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The IRDAI is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. Meanwhile in an interview, LIC’s Chairperson M R Kumar talks to Subrata Panda of Business Standard on a range of issues, from the reasons for the stock’s underperformance to whether the IPO could have been timed better. Read more on these in our top headlines
Irdai mulls linking insurance frauds with individuals’ credit score
The Insurance Regulatory and Development Authority of India (IRDAI) is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal suggests that insurance frauds should feature when the risk profiles of individuals are evaluated and should be used to calculate their credit scores. Read more
COAI writes to DoT, demands tough norms for captive private networks
The Cellular Operators Association of India (COAI) has demanded imposition of tough conditions for allowing enterprises to set up “captive non-public networks”. The move comes just a few days after the Cabinet, despite opposition from telcos, permitted enterprises to set up private networks, with the department of telecom (DoT) assigning them spectrum directly. Read more
In 5 yrs, we’d like to be No. 1 in bancassurance: LIC chairperson MR Kumar
Life Insurance Corporation of India (LIC) hit the market with its initial public offering (IPO) just over a month ago. Since then, the value of the insurance behemoth’s shares has eroded significantly. In an interview, LIC’s Chairperson M R Kumar talks to Subrata Panda on a range of issues — from the reasons for the stock’s underperformance to whether the IPO could have been timed better. Read more
Small ticket, big business: Fintech firms see surge in instant loans
Can credit be handed out faster than Maggi noodles? Last Thursday, CASHe launched a WhatsApp-enabled service for instant credit, which V Raman Kumar — the fintech’s founder and chairman — claims is a first-of-its-kind, because “today’s smart consumers demand instant gratification and contactless support”. Read more
Military says Agnipath scheme here to stay; recruitment begins in August
Downplaying the violent protests against the Agnipath recruitment scheme that continue to rock Uttar Pradesh, Telangana and Bihar, the Ministry of Defence (MoD) fielded the military’s top manpower planners in a press conference to send out the message: “Agnipath is here to stay.” Read more
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