Chennai

Irdai delinks personal accident cover from 3rd party motor insurance

It will no longer be mandatory for owner-drivers of vehicles to buy a personal accident cover bundled with the motor cover as stipulated earlier by the insurance regulator. Irdai has relaxed the norms and from January 1, 2019, a standalone personal accident cover will do. 

Industry watchers concerned about fast MFI growth in eastern region

The micro finance sector in the eastern states of India has recorded fastest growth in the past two years, transforming the region from one with least share of NBFC MFI loans to one with the highest share. While the overall parameters remain superior in the region, the industry has concerns about the fast growth.  

G&J exports to US to grow 10-15% this year

Better GDP growth, employment rate and consumption expenditure in the US is expected to support 10 to 15 per cent growth in gems and jewellery exports to the market this year against a flat growth last year. This might also help India’s overall gems and jewellery exports arrest the declining trend.

IIT Madras gets record number of job offers

Indian Institute of Technology (IIT) Madras witnessed the highest ever number of job offers during the first phase of its placement season. As many as 888 job offers and 136 pre-placement offers were made, taking the total to 1,024 offers in technology disciplines.

The previous high was 1,019 offers made in the 2014-15 academic year. However, that also included offers for MBA students.

Gold ETFs record Rs 10 cr net inflows

After a gap of six years, gold exchange traded funds (ETFs) have witnessed net monthly inflows in November. The investment flow in the coming months will be crucial to determine whether gold ETFs have regained investor interest.

In November, gold ETFs recorded a net inflow of Rs 10 crore, as per the data released by Association of Mutual Funds in India (AMFI). Prior to November, gold ETFs had last witnessed inflows in 2012. In all these six years after gold entered the bear market, the funds had recorded net outflows on a monthly as well as yearly basis.

Alstom makes Sricity facility its global manufacturing center

International orders for metropolis train sets have lifted Sricity facility, 75 km off Chennai, as a global manufacturing centre of French company Alstom. After delivering Sydney orders, Alstom is now beginning to work on light metro project of Montreal.

The Sricity facility was mainly meant for meeting the fast growing demand from metro rail projects in different cities in India. While the demand is robust, the facility is also bagging international orders.

Tyres exports to cross Rs 12,000 crore this year

Tyre exports from In­d­ia are expected to cr­o­ss Rs 12,000 crore for the first time this fiscal after having clocked a turnover of Rs 6,314 crore in the first half of the year.

Tyre exports have been gr­owing for the past three years. From Rs 8,824 crore in year 2015-16, tyre exports fr­om India went up to Rs 9,658 crore in 2016-17 and cr­ossed the 10K crore mark for the first time to stand at Rs 11,180 crore in 2017-18, industry body automotive tyre manufacturers association (ATMA) said.

Hotels accuse leading OTAs of predatory pricing

Hotels have alleged that some of the leading online travel agents are following business practices that are leading to predatory pricing and market distortions. The Federation of Hotel & Restaurant Associations of India (FHRAI) has written to MakeMyTrip, Goibibo and Oyo for solving the issue amicably, failing which it will organise nationwide protests.

Consumer durables to become costlier in coming weeks

Consumer durables will become costlier soon, as the companies are going to hike prices starting this month. Recent increase in import duty, rupee-dollar movement and crude oil prices have been hurting the margins of consumer durables.

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