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LIC H1 profit after tax rises to Rs 1,437 cr

LIC H1 profit after tax rises to Rs 1,437 cr

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Life Insurance Corporation of India (LIC) on Tuesday reported a profit after tax (PAT) of Rs 1,437 crore for the first half of ongoing fiscal against Rs 6.14 crore in the year-ago period.

The IPO-bound insurer said new business premium growth rate stood at 554.1 per cent in H1FY22, against 394.76 per cent during the corresponding period of FY21. Its overall total net premiums rose Rs 1,679 crore to Rs 1.86 lakh crore in April-September 2021, from Rs 1.84 lakh crore in the year-ago period.

LIC posted a jump of Rs 17,404 crore in overall premiums and income from investments was Rs 3.35 lakh crore in H1FY22.

(With PTI inputs)



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Delhi: Woman held for trying to ‘sell’ her baby

Delhi: Woman held for trying to ‘sell’ her baby

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A 30-year-old woman was arrested from North Delhi’s Sabzi Mandi for allegedly trying to sell her one-month-old child for Rs 30,000. Police said the woman was allegedly in touch with a gang who were trying to find a couple to ‘sell’ the baby to and set a deal of Rs 2 lakh for themselves.

Police said three more persons were arrested in connection with the case. The mother has been sent to Tihar Jail, along with the child, police said.

According to police, they received a tip that a gang was trying to sell an infant and were looking for couples who can “pay well”. Two police personnel posed as a couple and contacted the accused Saturday. “We sent constable Rakesh and constable Anju to meet a woman and her two associates. The accused promised to give them a child for Rs 50,000,” said an officer.

A team led by sub-inspector Lalit Kumar accepted the deal and went to Mangolpuri. One of the accused had called the woman to come with her baby. The deal was finalised and the constables paid Rs 50,000, police said.

DCP (North) Sagar Singh Kalsi, said, “We recovered the cash that was given for the baby. We have seized their phones…”



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Congs wants to play politics on sacrilege, alleges Sukhbir

Shiromani Akali Dal, SAD), Sukhbir Singh Badal, SAD-BSP alliance, Chhath puja, Poorvanchal Bhaichara

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SAD president Sukhbir Singh Badal Monday said the Congress government wanted to play politics on the sensitive issue of sacrilege instead of bringing the perpetrators behind this heinous crime to book and this was why it had not ordered a judicial inquiry into the recent incident of sacrilege at Sri Harmandar Sahib.

Talking to mediapersons after addressing a public gathering at Jalalabad, the SAD president said the very fact that the Congress government had not proceeded to bring the sacrilege perpetrators to book had emboldened them and this was why more such incidents were happening now. “But even now the Congress party has not learnt any lessons. Even now it has ordered a police inquiry into the recent incidents of sacrilege instead of giving the case to a sitting high court judge to get to the bottom of the entire conspiracy.”

Asserting that the SAD did not want to play politics on this sensitive issue unlike the Congress party, Sukhbir said the government had raised question marks about its intentions by refusing to take concrete action in case of the incident of sacrilege of the Sri Gutka Sahib in the Sri Darbar Sahib sarovar recently. “The culprit was caught and handed over to the police but it failed to take any action in the case. This deliberate laxity on the part of the Congress government led to an even more revolting case of sacrilege in the sanctum sanctorum of Sri Harmandar Sahib,” he said.

Asked which seat he would contest in the Assembly elections from, Sukhbir said he would contest from Jalalabad constituency. Once a SAD-BSP government was formed, the SAD would field a candidate from the Rai Sikh community to represent the Ferozepur Lok Sabha seat.

The SAD president held several programmes in the constituency during the course of which he promised to give another push to development of the border area post-2022 polls. “The border areas were developed at a rapid pace during the last SAD-led government but all work came to a standstill during the last five years of Congress rule. We will kickstart development in the border area and take it to the next level by modernising all villages and bringing in industry to ensure employment of youth.”

He announced that the SAD was committed to introducing underground pipe water system in the border belt besides ensuring a tubewell connection to all farmers who did not have one. He assured that farmers would get adequate cover for any damage to their crops with the introduction of crop insurance cover of Rs 50,000 per acre. He said simultaneously the SAD-BSP alliance was committed to all sections of people.

“We have assured traders that they will get an insurance cover of Rs 10 lakh for fire, medical and life insurance. Similarly students have been assured an interest-free student loan to cover their study expenses both in India and abroad. Children from government schools will be able to avail of free technical education and seats would also be reserved for them. Similarly, to encourage youth to take on entrepreneurship, we have committed to granting them a Rs 5 lakh interest-free loan to set up their own businesses.”

During an event at Jhoke Deepu Lana village, sitting chairperson of Fazilka Block Samiti Bago Bai and her husband deserted Congress party and joined the Shiromani Akali Dal Fazilka candidate Hans Raj Josan, Abohar candidate Mohinder Singh Rinwa and party leaders Satinderjit Singh Manta and Ashok Aneja too accompanied the party president on his tour of the constituency.



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‘Deep-rooted conspiracy’ behind recurrent acts of sacrilege: Sukhbir Badal

Sukhbir Badal

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Shiromani Akali Dal (SAD) president Sukhbir Singh Badal said Sunday that the recurrence of “the most painful acts of sacrilege against the Sikh religion clearly points towards a deep-rooted conspiracy.”

Talking to media persons after addressing gatherings in support of party candidates Jeet Mohinder Singh Sidhu in Talwandi Sabo and Prem Kumar Arora in Mansa, the SAD chief called upon the Union and the state governments “to demonstrate sincerity and sense of urgency in their conduct and actions to identify, expose and punish those behind this conspiracy”. “Their attitude so far has left much to be desired as there is more politics on the present rulers’ minds than the pursuit of real culprits,” he added.

Badal said those carrying out such “unforgivable” nefarious deeds had been emboldened as the Congress leadership and government in Punjab had wasted nearly five years playing politics over the issue of sacrilege. “Instead of going after the actual actors and conspirators behind sacrilegious acts, the Congress leaders and government have been busy using these tragic events to malign their political opponents. This has allowed the actual perpetrators to go scot-free. Even those guilty of these acts at Sachkhand Sri Harmandir Sahib and at Kapurthala would have escaped had the SGPC and the devotees not been vigilant,” Badal said in a statement.

Addressing the gatherings, he announced that the next SAD-BSP government would construct a 500-bed medical college and hospital in Mansa and that all irrigation-related problems at the tail-ends of canals would be solved by the construction of underground water pipes. Farmers without a tubewell connection would be given one on a priority basis, he said.

Badal also announced a crop insurance cover of Rs 50,000 per acre for farmers and promised to revive the old pension scheme which ended in 2004, wipe out the sand and liquor mafia, waive the electricity bills of religious places, and provide land for graveyards in villages with Muslim and Christian populations. Besides, traders would be provided life insurance, medical insurance and fire insurance cover of Rs 10 lakh each, he said.

Hundreds of Akali workers on tractors welcomed Badal at the entrance of Mansa city. Playing the ‘Veer Sukhbir’ song, the tractors escorted him to the rally site in the market accompanied by hundreds of motorcycles. Senior leaders Balwinder Singh Bhunder, Dilraj Singh Bhunder, Jagdeep Singh Nakai, Balkar Singh Brar, Gurmel Singh Fafde Bhaike were also present on the occasion.



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‘How do they expect salaries if they don’t do work?’: Court slams Delhi MCDs on dengue

Delhi HC

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Warning the municipal bodies and their employees that the court will not exercise its discretionary jurisdiction in their favour if the civic conditions in the national capital do not improve, the Delhi High Court Tuesday ordered the local bodies to hold a meeting regarding the rising number of dengue cases.

The division bench of Justice Vipin Sanghi and Justice Jasmeet Singh ordered the chairpersons of the South, North and East Delhi municipal corporations, the North Delhi Municipal Council as well as the chief executive officer of the Delhi Cantonment Board to conduct a meeting and apprise the court about the steps being taken to control mosquito breeding. The court will hear the matter on December 1.

The court also said that it had earlier raised the issue of geotagging and marking of biometric attendance of employees. “We direct the petitioner to place on record what steps have been taken in this regard. This information should be provided in the affidavit to be filed,” it said in a direction issued to the SDMC while hearing the latter’s petition regarding funds being received from the government by municipal bodies.

Expressing concern over the dengue situation in Delhi, the court said that it has been dealing with non-payment of salaries of municipal employees for months and, in October, had noted that while the employees were clamouring for payment of their dues, the city was suffering due to their inefficient functioning. However, it said that its concern fell on deaf ears as the situation has only worsened.

“This year we are only witnessing a big surge in the number of cases of dengue. There have been several fatalities on account of the said disease,” said the court, while blaming the municipalities.

The court said that the employees were only demanding salaries but nothing was happening on the ground.

“How can it be that every year dengue is increasing? Is it not a municipal function? Is it some rocket science that after the monsoon there will be mosquitos. After the monsoon, there will be dengue. It has been a pattern for the last 15 to 20 years. Is there some rocket science involved? Is there no planning? Is there no thought process?” it asked.

It further noted that the municipal bodies may be overstaffed. “Is it that the municipality has given up everything and it’s only to collect taxes and disburse salaries? We will not entertain this petition. How do they expect salaries if they don’t do work?” the court told the SDMC.

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7k dengue cases in Delhi, 5,000 just this month

7k dengue cases in Delhi, 5,000 just this month

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Delhi has recorded 7,128 dengue cases so far this year, over 5,000 of them in November alone. This is the highest case count in the city since the big dengue and chikungunya outbreak in 2015.

According to data collated by the MCDs, over 1,800 of these cases have been recorded over the past week alone. No new dengue death has been reported by the corporations this week.

While the highest number of cases has been seen in North Delhi in areas such as Civil Lines and Keshav Puram, Southwest Delhi and Najafgarh also have a high case counts. Over 600 people who tested positive for the disease, meanwhile, could not be “traced after investigation”. In 219 cases, it was found that the patient was not a resident of Delhi.

October and November are months that see the highest number of dengue cases through the year. With temperatures coming down relatively after monsoons, the city provides conducive weather for mosquitoes to breed in clean water. It is in December that cases start to decline as the temperatures dip and breeding of the carrier mosquitoes is disrupted.

Dengue remained largely under control last year, with only 1,072 cases being recorded.

According to data shared by the MCDs, 2.6 cumulative visits have been made to homes by domestic breeding checkers to check for the presence of mosquito breeding. Breeding was found in 1.85 lakh houses and legal notices were issued to 1.4 lakh people.

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Swachh Survekshan: New Delhi Municipal Council tops list, Delhi corporations put up dismal show

NDMC, DMC, Delhi municipal corporation, swachh bharat, Ram nath kovind, indore, Swachh Survekshan Awards, Delhi news, Delhi latest news, Indian express, Indian express news, current affairs

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The New Delhi Municipal Council topped the Swachh Survekshan survey in the category of cities with one to 10 lakh population. The dismal show of the municipal corporations of Delhi, however, continued with the north and east Delhi civic bodies finding themselves in the bottom 10 list of cities with a population above 10 lakh.

President Ram Nath Kovind presented the Swachh Survekshan Awards 2021 at Delhi on Saturday. Indore topped the category of cities with a population above 10 lakh. It is followed by Surat, Vijayawada, Navi Mumbai and Pune, rounding off the top five.

The North Delhi Municipal Corporation ranked 45 among 48 civic bodies having a population above 10 lakh. Only three other cities, Coimbatore, Kota and Madurai have ranked below it.

The East Delhi Municipal Corporation ranked 40 out of 48 cities in this category. Among the three corporations of Delhi, the South Delhi Municipal Corporation secured the highest rank of 31.

Last year, the East Delhi Municipal Corporation had ranked 46 among 47 local bodies in its category in Swachh Survekshan. Whereas, the South and North had ranked 31 and 43, respectively.

The Swachh Survekshan ranks cities and urban local bodies on various parameters like waste segregation and garbage disposal, among others, as part of the Centre’s Swachh Bharat Mission.

A senior New Delhi Municipal Council official said that the result was owing to the council’s efforts to continuously pursue excellence in providing services and civic amenities.

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Covid fuels 29% jump in health premium income for insurers

Covid fuels 29% jump in health premium income for insurers

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Covid pandemic has proved to be a boon for insurance companies. With people increasingly taking health cover to meet medical expenses, general insurance companies have reported a 29.81 per cent rise in premium income from the health segment to Rs 42,571 crore during the seven-month period ended October 2021.

This is almost double the growth of 14.3 per cent at Rs 32,796 crore witnessed in the same period of last year, when people spent most of the time indoors under a nationwide lockdown. Health premium income shot up by a record 34 per cent to Rs 5,463 crore in the month of October alone, according to figures released by insurance regulator IRDAI.

Industry sources say that demand from the retail segment is rising at a faster pace as demand for individual health policies is rising rapidly. The premium growth of standalone health insurers continues to be higher than industry average, indicating that retail premiums are growing faster than the group business as the standalone health insurers derive most of their premiums from the retail segment. Standalone health players reported a 37.85 per cent rise in premium income at Rs 10,500 crore during the 7-month period.

The rapid rise in health policies is being led by public sector New India Assurance which reported a 53.23 per cent rise in premium income to Rs 9,176 crore in seven months as against Rs 5,988 crore a year ago. The company reported a 135 per cent jump in premium income to Rs 1,327 crore in October alone, according to Irdai.

Overtaking motor insurance segment which was the top premium earning sector till last year, health insurance has been the main drivers of the non-life insurance industry since the commencement of the Covid-19 pandemic in early 2020. The health segment has increased its market share from 25.8 per cent last year to 33.7 per cent in the first seven months of FY22.

Simultaneously, health claims by customers have also shot up with all insurers reporting higher claims in the wake of Covid pandemic. ICICI Lombard General Insurance, for example, reported that the impact of Covid claims on health book in the first half of FY2022 was Rs 561 crore as against Rs 115 crore in the same period of last year. While Covid infections have declined in the country in the last a few weeks, insurance companies have reported 25.64 lakh claims for Rs 31,624 crore from people hit by Covid till September 2021. Maharashtra registered the maximum number of claims at 8.47 lakh for Rs 8,650 crore followed by Gujarat with 3.24 lakh claims for Rs 3,793 crore, Karnataka 2.53 lakh claims for Rs 2,712 crore and Tamil Nadu 2.41 lakh claims for Rs 3,447 crore. Although the average claim amount per person across the country was Rs 1.23 lakh, the average claim settled per person was Rs 91,287.

Although Covid-19, especially the second wave, was very damaging to the health insurance segment in terms of a big spike in claims, it accelerated growth for the segment. Insurers have also hiked the premium on health policies and started demanding even vaccination certificates and stringent medical check-ups before issuing new policies. “With Covid pandemic under control, claims are expected to come down in the near future. The segment will then become a profitable area for insurance firms. It remains to be seen how long the high growth in this segment will continue,” said an industry source.

The overall growth in the general insurance segment was 12.54 per cent at Rs 1.26 lakh crore during the seven months ended October 2021.

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Delhi: New liquor policy comes into effect, but many shops have nothing on offer

Delhi: New liquor policy comes into effect, but many shops have nothing on offer

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Most liquor shops in the national capital remained shut Wednesday even as the new excise regime came into effect. As per the new policy, all government liquor shops shut permanently on Tuesday and new private vends were allowed to open on Wednesday.

However, most stores in areas including New Ashok Nagar, Mayur Vihar, Munirka, Govind Puri, Safdarjung, Hauz Khas and Kashmiri Gate were either shut or were getting final touches before they open.

The new liquor vends are supposed to be spread over an area of at least 500 square feet and are supposed to have a walk-in facility where people can choose the brand of their choice, like in malls.

Three shops in Mayur Vihar Galleria mall, which has several liquor shops,were open but none of them were selling liquor.

A staff at The Liquor Store said they have not got any stock from wholesalers. “It is not clear when we will get our orders. It will most likely be by tomorrow or the day after,” he said.

Delhi Liquor Trade Association President Naresh Goyal said that wholesalers registered late, which has led to the delay. “Many shops remained closed today and if things continue like this, it will take time for the situation to improve.”

The situation was similar in North Delhi’s Kashmiri Gate. A staff member at the newly opened shop near the bus stand said that stock has not arrived yet. “Today we are making preparations and guiding staff on how to operate and deal with customers,” he said.

“The shortage is likely to continue for the next two-three days at least,” a dealer in Mayur Vihar said. With private shops reopening, the government has now exited the liquor sale business. In old shops, staff could be seen cleaning and packing things in cartons on Wednesday.

While the total number of liquor vends, 849, will remain the same as earlier, the shops have been redistributed to have an equal distribution across the city to discourage bootlegging. The city has been divided into 32 zones comprising 280 wards. Each ward will have around 3 liquor vends.

An increase between 8% and 9% in the cost can be expected as there has been an increase in wholesale rates. This, however, is yet to be finalised. Because most shops remained closed on Wednesday, customers said they would have to go to stores in NCR towns instead.

Manu Saxena, who had arrived at the Galleria mall in Mayur Vihar said, “I came to this mall because there are several shops here but all of them are closed. I will go to Noida now.”

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‘If tomorrow some life is lost in fire, who will be responsible’, Delhi HC pulls up SDMC on illegal street vending

'If tomorrow some life is lost in fire, who will be responsible', Delhi HC pulls up SDMC on illegal street vending

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Observing that commercial places like Nehru Place have become slums now, Delhi High Court on Wednesday said that the officers of South Delhi Municipal Corporation (SDMC) are not even bothered to read the court orders and that police officials, despite being deployed to act against unauthorised vendors, are not being guided by the corporation.

“There is something more than what meets the eye and that is what the policeman is also saying ‘what do I do? I have deployed the force and I don’t know what is to be done’ because SDMC is not playing the role of the leaders,” said the division bench of Justice Manmohan and Justice Navin Chawla.

Pulling up SDMC for not following up on its own statement on moving the Supreme Court about the 95 street vendors who have interim orders in their favour for hawking at the Nehru Place, the court said that the officers have done nothing for the last four weeks. It also noted that vendors have to follow the tehbazari conditions in the meantime.

“How far is the Supreme Court from here? How long do you take to move an application? Your officers have to realise the urgency of the situation. If tomorrow in the fire some life is lost, who will be responsible? Just because your officer could not send one letter from one table to the other, some life will be lost,” said the court.

The high court initiated a suo motu case on August 13 after a fire incident took place in a building at Nehru Place. On October 7, the bench directed the authorities to earmark a lane for emergency services so that the fire brigade and ambulance can reach Nehru Place at the earliest without any hindrance, and ensure that no illegal vendors hawk in and around it.

On Wednesday, the court warned SDMC against using court orders to increase the license fee. “Don’t use our court orders to increase some rates. Don’t use us. We will come down on you with a ton of bricks. Don’t spoil our good name. Don’t say we are being strict and tough, therefore the rates need to go higher, that should not happen. Some officer will lose his job,” it added.

The court also questioned SDMC for not disclosing that vendors were keeping their goods at Nehru place even after working hours. “Was this not your job to disclose? I don’t know why they pay these officers. If we have to do their duties, then we will do it….then don’t pay them. Our October 7 order has not been implemented at all,” it said further.

Meanwhile, the division bench of Justice Vipin Sanghi and Justice Jasmeet Singh, in a separate matter related to Chandni Chowk, said that there was no “political will” to act against illegal hawkers and directed North Delhi Municipal Corporation (NDMC) to immediately start the process for preparing a plan under the Street Vendors Act in consultation with experts.

“Why are we wasting our time and trying to set it in order when everybody is out to scuttle the efforts,” observed the bench, adding that the vending needs to be properly regulated so that the vendors can earn their living and at the same time it is convenient for the people to buy goods and services.

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