The Union Cabinet has approved an amendment to the FDI Policy to allow FDI up to 20 percent under the "automatic route" in LIC. This comes ahead of IPO of LIC. It must be noted that the FDI limit in the insurance sector is 74 percent. Last year it was raised from 49% to 74%.
The Reserve Bank of India has cancelled the license of Sarjerodada Naik Shirala Sahakari Bank Sangli, Maharashtra due to a lack of sufficient capital and earning potential.
North Korea said it tested a camera designed to be placed on a reconnaissance satellite and released space-based photos of Earth, a day after its rivals said it conducted a ballistic missile launch.
EXAMIANS