New-age general insurance company Digit is eyeing raising Rs 600 crore funds through financial investors. In an interaction with Moneycontrol, Kamesh Goyal, Chairman and Founder, Digit Insurance said the funds would purely be used for solvency purposes.“Capital is purely from a solvency perspective. As we are growing, we need additional capital as our net-worth has been seeing a dip. However, this will be a financial investor and not a strategic investor,” said Goyal. The company has Rs 990 crore capital currently.The insurer is backed by Prem Watsa’s Fairfax and has so far received total funding of $95 million from Fairfax Holdings.Close For the April to September 2019 period, Digit Insurance collected gross direct premium of Rs 994.47 crore, showing a year-on-year (YoY) growth of 263.5 percent. The market share stood at 1.04 percent in H1FY20. related news Forex kitty continues to swell, touches a new high of $448 bn Dish TV posts Q2 net loss of Rs 96.37 … [Read more...] about Digit Insurance eyes Rs 600 crore funding in FY20
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Finance Minister Nirmala Sitharman on Friday said the government will bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks. These legislations will be brought during the Winter Session of Parliament starting coming Monday, the minister told reporters here.These legislations assume significance in the wake of scam in the Punjab and Maharashtra Cooperative Bank affecting lakhs of customers who are facing difficulties in withdrawing their entire money due to restrictions imposed by the Reserve Bank of India.At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.Close The finance minister also said the government has no plans to cut spending on welfare schemes and will encourage all the departments of the Union government to spend entire funds provided in the Budget. related news Chinmayanand case: SC stays HC order … [Read more...] about Govt mulls raising insurance cover on bank deposits to above Rs 1 lakh: FM Nirmala Sitharman
Paris has come up with a new measure to fight smog on particularly bad-air days: Remove the cars that make the smog. When air quality takes a dive, cities have various emergency options to relieve the problem. These short-term fixes include telling people to stay at home or leave town (London’s most recent gambit), cutting speed limits, or reducing ticket prices for public transport. Some cities also ban half of cars from entering the center, based on odd and evenly numbered car license plates, although that doesn’t work so well long-term, as better-off people game the system by making sure they have both odd and evenly numbered vehicles. Paris, though, has a unique weapon against smog. France issues air-quality certificates, based on the age of a car, and the kind of fuel it uses. These certificates are optional in France as a whole, but mandatory in Paris. This certificate made it possible for Paris to ban all cars made before 1997 from its center last summer, but it … [Read more...] about Paris Fights Its Pollution Problem By Banning Old Cars
Jerry Seinfeld’s web series “Comedians in Cars Getting Coffee” is about to get on the road again–new episodes debut January 2. And the Acura ads that will appear in the show’s third season, are imbued with lovable Seinfeldian irreverence. Mainly because Jerry wrote the ads. Seinfeld worked with Acura agency Mullen on the spots, which were directed by Barry Sonnenfeld. The eight ads are cast as old school car commercials with a 21st century wink. The spots spoof the old commercial style and the specific Acura models being sold. You could even argue that the ads are spoofing spoof ads. Yes, there’s enough space in the MDX’s trunk for that giant bowl of potato salad, the only item that “1960’s family” bothered to bring on their picnic. And yes, the RLX’s interior comes in multiple colors, including one that’s “mauvish or beige-ish or some would say greenish.” (Note, that all the options are horrible. And … [Read more...] about Seinfeld Spoofs Car Commercials In These Ads He Wrote For Acura
As we try to find the find the answer to climate change, each eco-innovation may spur even more questions about their overall effects. Could the noise from wind turbines cause cancer? (Science says no.) Could the sound from an electric car stimulate plant growth, regenerating the environment we’ve helped destroy? Science says . . . maybe? Or at least, that’s the hope of Ayax Toyota. advertisement advertisement Within the next two years, the U.S. and Europe will require electric cars to emit a noise in order to warn pedestrians of their approach, or else these quiet vehicles can take pedestrians and bikers by surprise. Instead of just installing a sound that mimics non-electric vehicles, Ayax, an independent, Uruguay-based manufacturer and distributor of Toyota vehicles, has partnered with digital innovation agency The Electric Factory, a sound designer and a “smart cities expert,” to create an audio that they say could go further to benefit the … [Read more...] about These electric cars will project a sound that . . . makes plants happy?