New Delhi, October 1: The insurance industry is up in arms against a consultation paper released by the Insurance Regulatory and Development Authority of India (IRDAI), triggering a strong pushback against the changes. The reforms proposed in the paper threaten to disrupt the traditional revenue models of insurance brokers, banks and sales agents, though intended to curb mis-selling. Industry leaders warn that if implemented in the current form, the stringent commission caps and cost controls could lead to significant revenue declines and potential job losses across the board. Key Regulatory Proposals The IRDAI consultation paper, titled “Recalibrating Economics of Insurance…
Author: Abizar Attari
Abizar Attari
I’ve always had a fascination with storytelling. Analyzing diverse perspectives and helping people understanding them simply is my life’s motto. I live to create stories that you’d love to read. When I’m not writing, you'll find me having a leisurely stroll on the beach or in the park.
New Delhi, September 30: Digital skills and development major NIIT Limited has elevated Dr Vishnupriya Raghavan as the Senior Vice President and Business Head, Technology Learning Solutions at NIIT Enterprise. In this expanded role, Dr Raghavan will lead NIIT Enterprise Technologies Learning Solutions Business, with a responsibility to strengthen NIIT’s role as a workforce capability transformation enhancer for boosting its clients’ AI-led workforce transformation practices. For Vishnupriya, this role will mean delivering deep technology skilling and leadership development for enterprise clients, as it focuses on helping enterprises develop their manpower’s critical technology capabilities across roles, teams and business networks, combining…
Gurugram, September 30: Enterprise-focused managed office space provider Smartworks Coworking Spaces Ltd has announced deals worth ₹305 crore from new clients, as demand for managed corporate working spaces grows across India. These new clients include Indian and global corporations, including a technology solutions company, research and consulting major, healthcare company, lifestyle brand and a Global CXM service provider, besides others. This builds upon the company’s strong order book, with Smartworks already building a formidable revenue of ₹5,400 crore for the first quarter of FY2026-27. For Smartworks, this represents a strengthening market position after it announced another ₹235 crore in contracted…
New Delhi, September 29: Delhi NCR-based multi-specialty healthcare provider Global Health Limited, which operates under the Medanta brand, has secured a 10,560.36 square meter land parcel in Ghaziabad, Uttar Pradesh to set up a new hospital. The land was acquired for ₹ 165.82 crore through a state-run online auction to develop a greenfield multi-specialty hospital with a capacity of over 350 beds “We see Ghaziabad as a compelling long-term healthcare opportunity within the broader Delhi-NCR market. The region has undergone significant urban and economic development and continues to see increasing demand for advanced, specialised healthcare services. The Siddharth Vihar land…
New Delhi, September 28: Integrated steel manufacturer Vraj Iron and Steel has moved to divest its stake in MVK Industries as it looks to clear the path for commissioning its massive, upcoming ₹ 450 crore greenfield steel project in Bastar, Chhattisgarh. The company aims to fully commission the capital-intensive facility within three years given that it has now received the Environmental Clearance for the same. The Raipur-based company has been aiming to divest its 13.20% stake in MVK Industries to its holding company Gopal Sponge as it looks to raise funds to support the timely commissioning of its ambitious steel…
Surat, September 28: Steamhouse India Limited has won the mandate for Engineering, Procurement and Construction (EPC), commissioning and comprehensive Operation & Maintenance (O&M) for 25 years of the Common Steam Plant and Co-generation Power Plant at the Bulk Drug Park, Una, Himachal Pradesh. The allotment of the tender provides us with an opportunity to scale our community boiler model on a larger platform, while requiring limited working capital deployment. The entire project cost will be funded by Himachal Pradesh Bulk Drug Park Infrastructure Limited. This project will mark a significant milestone in Steamhouse’s journey, transforming the company from a Gujarat-focused…
Bengaluru, September 28: South India-based real estate developer Arvind SmartSpaces Limited (ASL) has announced the acquisition of a new residential high-rise project in the upcoming Bengaluru suburb of Sarjapur Road under a joint development arrangement. The upcoming project has an estimated revenue potential of ₹ 470 crore, including its undisclosed project partner’s share, marking the company’s 11th high-rise undertaking in the city. The newly acquired property is a direct extension of the company’s existing Arvind Sylvia development along Sarjapur Road. Under the joint development model, property developers partner with landowners to construct housing units, sharing either the built-up area or…
Mumbai, September 28: Mid-tier private lender IndusInd Bank has announced the launch of a specialized banking division dedicated exclusively to Global Capability Centers (GCCs). This move aims to help the bank capture opportunities in the expanding GCC ecosystem, which is slowly emerging as a vital part of India’s technology ecosystem. These GCCs are increasingly playing a crucial role for multinationals- offering critical functions like IT, finance and technology development, as they represent India’s presence in the global supply chain. For the bank, targeting GCCs allows it to boost exposure to multinational clients, integrating it deeper into the global corporate lifecycle. …
Nashville, September 26: American coffee giant Starbucks has announced the establishment of its first Global Capability Center (GCC) in Chennai, even as the company has closed nearly 250 stores in North America, eliminating about 900 positions as part of a broader turnaround strategy led by newly appointed CEO Brian Niccol. This restructuring comes at a time when shifting consumer habits and inflationary pressures have forced the coffee chain to streamline its operations in an aim to reduce its overheads. The company has said it will try to transfer baristas to other locations where possible, while employees who are leaving will…
Mumbai, September 24: Auto component major Minda Corporation Limited’s board has approved two moves to drive the company’s next phase of growth. This includes establishing a wholly owned subsidiary in China along with the issuance of Non-Convertible Debentures (NCDs) worth ₹500 crores. This move is aimed at establishing Minda Corp’s presence in the international supply chain, allowing it to directly engage with suppliers to reduce lead times, boost quality control and optimize costs. The subsidiary is aimed to function as a critical hub for the company in one of the world’s largest automotive markets. This presence will also help Minda…