The Insurance Regulatory and Development Authority of India (Irdai) will soon allow insurance brokers to offer consultancy for claims not exceeding Rs 10 crore without the need for regulatory approvals. For claims exceeding Rs 10 crore, the brokers will have to seek prior approval from the regulator.

The last Irdai board meeting held in August cleared changes to the Brokers Regulations, said Sanjay Kedia, president, Insurance Brokers Association of India, adding that a formal notification is expected to be out soon.

Diversified firm ITC has filed a Rs 1,000-crore defamation suit against proxy advisory firm IiAS at the Calcutta High Court for allegedly making 'defamatory' statements against the company and its directors.

In the suit, filed last month, ITC said Institutional Investor Advisory Services (IiAS) had published two reports that were "false, defamatory and malicious" on its website www.iiasadvisory.com in July 2017 before the AGM of the company.

Nearly two years after the Food Safety and Standards Authority of India (FSSAI) had banned Nestlé’s flagship noodles brand Maggi in India, a closed-door meeting between representatives of the regulator and the multinational (MNC) has opened up possibilities for them to join hands.

After lengthy courtroom battles and tonnes of Maggi noodles were destroyed, the FSSAI and Nestlé had been looking for common ground.

Johnson and Johnson India on Friday announced an enhanced paternity leave policy under which new and adoptive fathers will be entitled to eight weeks of paid leave during the first year of birth or adoption.

For new mothers, the company has been offering up to 26 weeks of maternity leave for the past six years.

State-run power giant NTPC on Wednesday said it has offered 27.4 million equity shares to its employees at a discounted price of Rs 159.60 per scrip.

The discounted price was fixed after factoring in 5 per cent discount to the cut off price of Rs 168, discovered through the Offer For Sale of equity shares of NTPC carried out by the government on August 29-30.

Fresh triggers in the equity markets caused the Sensex and Nifty to trade on a negative note in Wednesday's morning trade.

The 30-share BSE Sensex opened on 31,713.50, down by 95.95 points while the broader 50-share NSE Nifty lost 52.95 points to start trading on 9,899.25. However both the indices soon extended losses as Sensex tanked more than 220 points to hit the intra-day low of 31,586.53 within the first half an hour of trading.

Artificial Intelligence (AI)-based chatbot ‘Eva’ — built for HDFC Bank by Bengaluru-based Senseforth AI Research — has successfully addressed over 2.7 million customer queries in six months to become the country’s largest banking chatbot. According to HDFC Bank, it collaborated with Senseforth and launched ‘EVA’ (Electronic Virtual Assistant) in March this year on its website www.hdfcbank.com. Since then, ‘Eva’ has interacted with over 530,000 unique users, holding 1.2 million conversations and addressing 2.7 million queries with ease.

Reliance Industries (RIL) was up 1% at Rs 1,650, extending its 6.6% surge in past five trading sessions on BSE, after the company fixed September 9 as the record date for 1:1 bonus issue. The stock will turn ex-bonus tomorrow on September 7.

The stock outperformed the market by gaining 7.7% from Rs 1,532 on August 28, as compared to 1% rise in the S&P BSE Sensex.

Ashok Leyland Defence Systems (ALDS), part of Hinduja Group flagship Ashok Leyland, has signed a Memorandum of Understanding (MoU) on cooperation with Rosoboronexport (ROE), Russia, and an Indian firm ELCOM Group, to provide tracked vehicle solutions to Indian armed forces.

Rosoboronexport (ROE), Russia, is the only state-run firm in Russia for export of an entire range of military products and technologies. ELCOM Group is a player in strategic electronics, avionics and tactical communication globally.

Mumbai: The rupee on Wednesday weakened for the fourth session to hit a three-week low against the US dollar after foreign institutional investors (FIIs) liquidated their investments in the domestic markets.

At 2pm, the rupee was trading at 64.17 a dollar, down 0.06% from its Tuesday’s close of 64.13. The rupee opened at 64.18 a dollar and touched a low of 64.26, a level last seen on 16 August.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.