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27.12.25 - 03:12
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Irdai fines Reliance General Insurance over ′commission′ (Times of India)
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Reliance General Insurance has been slapped with a Rs 1 crore fine by Irdai in Hyderabad. The insurance regulator found the company illegally routed payouts to brokers and agents through marketing and awareness expenses, effectively disguising them as commissions. This penalty stems from an examination of transactions spanning FY19 to FY21, highlighting a breach of regulatory norms....
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25.12.25 - 03:42
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Faster cheque clearance gets delayed; banks not ready: RBI (Times of India)
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The Reserve Bank of India has delayed the second phase of its faster cheque clearance system, originally set for January 3rd. This decision comes after some banks experienced operational difficulties during the initial phase. The postponed phase aims to clear cheques within three hours of realization, significantly reducing settlement times for customers....
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23.12.25 - 15:36
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Q3 GDP Unexpectedly Surges To 2 Year High On Soaring Health Insurance Spending (ZeroHedge)
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Q3 GDP Unexpectedly Surges To 2 Year High On Soaring Health Insurance Spending
By now, Q3 GDP - which should have been reported almost two months ago - is ancient history but it still matters in a world where the Fed's every sneeze is overanalyzed. Which is why the report by the Bureau of Economic Analysis that in Q3 US GDP surged by 4.3%, up from an already hot 3.8% in Q2 and driven by a spike in consumer spending, will surely raise some eyebrows (for those wondering, this report was originally supposed to hit on Oct 30, and the second estimate was scheduled for Nov 26; none of that happened due to the govt shutdown). This was the highest annualized quarterly GDP print since Q3 2023.
The number was higher than all but one economist forecasts, and was a 3-sigma beat to the median consensus of 3.3%
According to the BEA, the increase in real GDP in the third quarter reflected increases in consumer spending, exports, and government spending that were partly offset by a decrease in investment...
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