CAG flags ₹194 cr loss incurred by Oriental Insurance in FY20
Financial Express Kolkata|December 20, 2024
STATE-OWNED ORIENTAL Insurance Company Ltd incurred a loss of ₹194 crore during FY20 for failing to properly determine bidding rates for Pradhan Mantri Fasal Bima Yojna, said a CAG report.
PRESS TRUST OF INDIA

According to report number 12 presented in Parliament earlier this week, Oriental Insurance Company Ltd determined the bidding rates for Pradhan Mantri Fasal Bima Yojna in 2019-20 by applying pricing components uniformly without specific determination as per the terms and conditions of the Agriculture Quota Share Reinsurance treaty with General Insurance Corporation of India, being Re-insurer.

This story is from the December 20, 2024 edition of Financial Express Kolkata.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the December 20, 2024 edition of Financial Express Kolkata.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM FINANCIAL EXPRESS KOLKATAView All
Financial Express Kolkata

Microsoft to spend $80 billion on AI data centers this year

MICROSOFT CORP PLANS to spend $80 billion this fiscal year building out data centers, underscoring the intense capital requirements of artificial intelligence.

time-read
1 min  |
January 05, 2025
Financial Express Kolkata

Chinese Dam on Table for Sullivan's India Visit

AI, civilian nuclear cooperation, space may also be taken up

time-read
1 min  |
January 05, 2025
Financial Express Kolkata

Mike Johnson Re-elected US House Speaker

Republican Congressman Mike Johnson on Friday was re-elected as Speaker of the US House of Representatives with a narrow victory margin of three votes.

time-read
1 min  |
January 05, 2025
Financial Express Kolkata

S Korea investigators ask acting prez to clear way for Yoon's arrest

SOUTH KOREAN INVESTIGATORS again asked the country's acting president on Saturday to order the presidential security service to comply with an arrest warrant for impeached President Yoon Suk Yeol.

time-read
1 min  |
January 05, 2025
Financial Express Kolkata

No jail time for Trump, suggests judge in US hush money case

Will keep fighting, says communications director Cheung

time-read
1 min  |
January 05, 2025
Financial Express Kolkata

Rohit clears the air: Not going anywhere

Says those on outside can't influence when he stops playing

time-read
2 mins  |
January 05, 2025
Financial Express Kolkata

Border-Gavaskar Trophy: As Bumrah leaves, 'captain' Kohli calls the shots

Kohli took charge after Bumrah left bowling due to spasm

time-read
3 mins  |
January 05, 2025
Financial Express Kolkata

Big rockets, a telescope & big changes in space await in 2025

Some key events to look forward to in space & astronomy

time-read
4 mins  |
January 05, 2025
Financial Express Kolkata

Worrying signs from the Arctic

Scientists say fires in the region could have major consequences

time-read
2 mins  |
January 05, 2025
Financial Express Kolkata

The Fall season

Fun and games for the elite players, the Fall Series gave the fans plenty to watch

time-read
3 mins  |
January 05, 2025