EPFO to appoint actuary to provide consultancy on insurance, pension
The Employees' Provident Fund Organisation (EPFO) is in the process of appointing an actuary firm for the purpose of providing Read more
EPFO
Government planning social security scheme with pension and insurance cover
The central government is working on the blueprint for a social security scheme that is specifically aimed as a safety Read more
Insurance News: ASSOCHAM seeks similar treatment to AI, KFA
Life Insurance Corporation of India (LIC) and Employee Provident Fund Organisation (EPFO) subscribing to Rs 7,400 crore debt issue of Air India (AI) as part of the government’s bailout plan for the state-owned airlines, the ASSOCHAM demanded a similar dispensation for the Kingfisher Airlines (KFA) as well.
ASSOCHAM Secretary General D S Rawat said the circumstances under which both Air India and Kingfisher Airlines went down under were almost similar, largely emerging from the demand slowdown, high cost of aviation turbine fuel and other rising overhead costs. Read more
Life Insurance Corporation of India, EPFO to fully subscribe to bond issue of Air India
Life Insurance Corporation of India (LIC) and the Employee Provident Fund Organisation (EPFO) have decided to fully subscribe to the Rs.7,400 crore bond issue of Air India, thus giving a lifeline to the national carrier. An Air India spokesperson said that both LIC and EPFO have agreed to buy all the non-convertible debentures (NCDs) being sold to raise resources to repay bank loans. Read more