According to sources, the rules under the Life Insurance Corporation Act, 1956, have been amended to provide an extension to Kumar in view of the ongoing preparation for the IPO.
New India Assurance and General Insurance Corporation were listed in 2017. SEBI norms mandate the govt to now raise public shareholding to 25% from the existing 15%.
The last time this matter flared up was when Delhi Chief Minister Rekha Gupta, in a very similar directive in April, called for the relocation of stray dogs in the capital.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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