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Editor's Desk Tata Consultancy Services, which has been appointed by the Centre to implement the ‘Passport Seva Project’, stated that implementation of the project at six pilot locations has been delayed because the ministry of external affairs did not make available the Disaster Recovery Site. The IT major hopes to roll out the project at the six pilot locations by October this year.
Read morePassport Seva Projec’ at six pilot locations delayed: TCS
Insurance Regulator, Insurance Regulatory and Development Authority (IRDA) now allowed a policyholder to exit from health insurance with a cover for three years or more within 15 days, which is known as free-look period.
The policyholder can exit or surrender the policy if he is not satisfied with the terms and conditions of the agreement. The regular has mentioned the aforesaid in a circular sent to all insurance companies.
Read more15-day free-look period for people to surrender health insurance policy – IRDA
Industry sales grew by 2% YoY (-4% in June, -10% in May), the first time in nine months. This was driven mainly by the 21% YoY growth shown by the state-owned LIC. Private player sales also showed a slowdown in sales contraction (-11% YoY for July
vs -13% for June and -29% for May).
The three leading commodity exchanges – the Multi Commodity Exchange (MCX), the National Commodity & Derivatives Exchange (NCDEX) and the National Multi-Commodity Exchange (NMCE) – recorded splendid turnover in August despite uncertainty over recovery in global economies that forced participants to play safe and hold back their investment and trading plans.
The three comexes that represent over 95% cent of India’s futures trade, witnessed 45.40% growth in turnover at Rs 6,17,484.83 crore in August 2009 as compared to Rs 4,24,666.28 crore in the corresponding month last year. Total agri business of the three exchanges soared 119% to Rs 121619.44 crore while non-agri business also advanced 34.33% to Rs 495865.40 crore.
Read moreCommodity exchanges record 45% rise in turnover in August
Adlabs Films Ltd has informed BSE that pursuant to the approval from the Registrar of Companies, Maharashtra, Mumbai, Adlabs Films Ltd shall be renamed “Reliance MediaWorks Ltd”, subject to approval by shareholders in the ensuing Annual General Meeting. The era of Manmohan Shetty comes to an end with he company’s name also being changed. Anil Ambani appears to be inspired by Dreamwoks and hence named his company as Reliance MediaWorks.
Read moreAdlabs Films to be renamed Reliance MediaWorks inline with DreamWorks
Way2SMS, India’s largest free SMS service provider has achieved an unprecedented milestone by getting five million subscriptions. This allows the Hyderabad based SMS service provider to enter into the big league of web portals. Way2SMS records twenty five thousand new subscriptions per day, which makes it one of the fastest growing web portals in the country.