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HDFC Life launches two market-linked pension plans

Written By Unknown on Senin, 03 Desember 2012 | 23.07

Private insurer HDFC Life announced the launch of two market-linked pension plans and a traditional annuity product. The pension plans, Pension Super and Pension Super Plus, are unit-linked and designed to build a sizable corpus for post retirement income, HDFC Life Managing Director and CEO Amitabh Chaudhry said. Both the plans offer assured benefit on death and vesting and is targeted at people in age group of 35 to over 45 years.

Also Read: Tax impact of receiving pension

HDFC Life Pension Super Plus offers assured death benefit of total premiums paid to date accumulated at a guaranteed rate of 6 per cent per annum and an assured vesting benefit of 101 per cent of total premiums paid. The Single Premium Pension Super offers assured benefit of 101 per cent of total premiums paid on death and vesting. The private insurer also launched New Immediate Annuity Plan, a traditional annuity product with a wide range of annuity options that ensures a regular income stream post retirement.

"In India, there has been a paradigm shift in retirement trends and the increase in life expectancy. Individuals opt for retirement as early as at 40-45 years and go on to live beyond 80-85 years. This emerging trend is expected to boost the Annuity market substantially in the next few years, Executive Vice President of the company Sanjay Tripathy said. HDFC Life is a joint venture between Housing Development Finance Corporation ( HDFC ) and Standard Life plc, the leading provider of financial services in the UK.



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Israel says won't retreat on settlement plan

JERUSALEM (Reuters) - Israel will not backtrack on a settlement expansion plan that has drawn strong international condemnation, an official in Prime Minister Benjamin Netanyahu's office said on Monday.

"Israel will continue to stand by its vital interests, even in the face of international pressure, and there will be no change in the decision that was made," the official said.

Britain, France and Sweden summoned the Israeli ambassadors in their respective capitals to hear appeals for Netanyahu to reverse course and deep disapproval of the plan to erect 3,000 more homes in the occupied West Bank and East Jerusalem.

Israel announced the planned settlement expansion on Friday, a day after the U.N. General Assembly granted de facto recognition to Palestinian statehood over Israeli and U.S. objections.

Such projects in the past, on land Israel captured in a 1967 war and which Palestinians seek for a future state, have routinely drawn world condemnation.

But this plan also included "preliminary zoning and planning work" for settler housing in the so-called "E1" zone east of Jerusalem.

Israeli construction there could bisect the occupied West Bank, potentially cutting Palestinians off from Jerusalem and further dimming their hopes for a contiguous state.

(Writing by Jeffrey Heller, Editing by Douglas Hamilton)



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Australia's Ponting a 'true legend', says ICC

REUTERS - Ricky Ponting is "one of the true legends of the sport" the International Cricket Council (ICC) said of the former Australia captain who ended his test career on Monday.

Ponting, 37, was the most successful test captain in the history of the sport. He played in 168 tests and 375 one-day internationals for Australia and won the ICC World Cup three times, twice as skipper.

"His contribution to the international game has been immense and quite rightly he will be remembered as one of the true legends of the sport," ICC Chief Executive David Richardson said in a statement.

"Ricky was a team man but along the way collected many personal accolades and is the only player to have won the Sir Garfield Sobers Trophy for Cricketer of the Year at the LG ICC Awards for two years in succession (2006 and 2007).

"We wish him well in the next stage of his career and look forward to his ongoing involvement in the game beyond the boundary," Richardson said.

Ponting was out for eight against South Africa in his final test innings as Australia suffered a 309-run defeat in Perth.

However, he finished his 17-year career as the second highest test run scorer behind India's Sachin Tendulkar with 13,378 runs at an average of 51.85.

(Writing by Alison Wildey in London; Editing by Justin Palmer)



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BSE restricts daily price movement of six cos to up to 20%

Leading bourse BSE said it has restricted the price movement for six companies including Oil India and Engineers India to a maximum of 20 per cent a day as part of its surveillance measures. The shares of these companies are now allowed an upward or downward movement of a maximum of 20 per cent in a day, BSE said in a circular. The changes would be effective from tomorrow, it added.

Also Read: BSE identifies 28 scrips for inclusion in 'T' group

Besides, other scrips that would attract a circuit filter of 20 per cent are Shipping Corporation Of India , Bharat Electronics , Container Corporation of India , National Aluminium Company . The exchanges set the circuit filter of a stock as part of their surveillance mechanism in order avoid to excessive volatility in the particular share price.



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Punjab govt raises DA by 12 pc

Chandigarh, Dec 3 (PTI) The Punjab government today announced to raise Dearness Allowance (DA) by 12 per cent for the state government employees and pensioners. Disclosing this in a release here, Punjab Finance Minister Parminder Singh Dhindsa said that the rate of DA has been enhanced from 139 to 151 per cent of the unrevised basic pay with effect from July 1, 2012. Dhindsa said the whole amount on account of enhanced DA due for the period from July 1 to August 31 2012 would be credited to the General Provident Fund account of employees. He said this amount would be deemed as additional amount in the GPF accounts and the interest on this amount would be payable from the first day of the next month. He said from 1st September 1, 2012, enhanced dearness allowance would be paid in cash. The Finance Minister said in case of pensioners, the entire amount on account of enhanced dearness allowance would be paid in cash with effect from July 1, 2012. He said that other conditions for the payment of dearness allowance would remain the same. PTI CHS DKS RAH ns MR


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Congo government back in Goma, says rebels still too close

By Ed Stoddard

GOMA, Democratic Republic of Congo (Reuters) - Government forces re-established control over Democratic Republic of Congo's eastern city of Goma on Monday after rebels withdrew, but a senior official said the insurgents were only a few kilometres away and still posed a threat.

The M23 rebel movement pulled its fighters out of the North Kivu provincial capital on Saturday after seizing it from fleeing U.N.-backed government forces and holding it for 11 days.

But the situation remained tense and uncertain in the absence of any definitive peace accord to end the eight-month-old insurgency, which has displaced thousands of civilians in a region that is a tinderbox of ethnic and political conflict.

North Kivu Governor Julien Paluku, who had left Goma when rebels took it on November 20, met Congolese Interior Minister Richard Muyej in a hotel in the city, which is sited among lush green hills on Lake Kivu on the border with Rwanda.

"I have come back here to work like before," Paluku told Reuters, saying his residence was looted during the rebel seizure of Goma. The city's capture triggered an international diplomatic scramble to head off an escalation of the conflict.

Under a deal brokered by Uganda days after Goma's fall, M23 leaders agreed to withdraw to positions 20 km (13 miles) north of the city after Congolese President Joseph Kabila said he was ready to listen to the rebels' grievances.

But Paluku said some M23 units were much closer to the city than had been agreed. "They are in Monigi. It is only 3 or 5 km away. It is not good," he told Reuters.

M23 spokesman Amani Kabasha told Reuters by telephone some rebels were in Monigi, which is on the road north to Rutshuru.

But he said the fighters there would form part of an M23 detachment that would join government troops and a neutral international force to be stationed together at Goma airport - one of the points agreed in the withdrawal deal.

"We are waiting to move our company to the airport. After that we will decide on the line (between government forces and rebels)," Kabasha said.

M23 draws most of its strength from Tutsi former rebels integrated into the Congolese army who mutinied in April.

It has called for talks between Kabila and political opponents, the release of political prisoners and dissolution of Congo's electoral commission, which oversaw Kabila's re-election in 2011 in a vote judged flawed by foreign observers.

Government spokesmen have not confirmed that Kabila is willing to hold such a wide dialogue, and the president faces pressure from within his own armed forces to pursue a military solution against M23. Congo and U.N. experts say the rebels are backed by Rwanda and Uganda, a charge both strongly deny.

Goma's dusty streets were busy, with markets open selling vegetables and smoked fish, and roads choked with traffic.

But banks remained closed. "Things are bad because no one has money to buy my fish," said one woman hawking fish.

In Sake, 30 km (19 miles) west of Goma, several hundred government troops paraded, preparing to re-enter Goma.

Some Congolese soldiers were already back in the city barracks. They milled around the tents and dilapidated buildings and a few smoked on the back of a vehicle.

GRAPHICS

Rebel advance http://link.reuters.com/kuj24t

Cycles of conflict http://link.reuters.com/nav24t

"THOUSANDS STILL AT RISK"

Goma lies at the heart of Congo's eastern borderlands which have suffered nearly two decades of conflict stoked by long-standing ethnic and political enmities and fighting over the region's rich resources of gold, tin, tungsten and coltan - a precious metal used to make mobile phones.

Successive attacks by myriad rebel and militia groups and government soldiers have made the region notorious among rights groups for mass killings, recruitment of child soldiers and rapes used as a weapon of war.

The U.N. humanitarian agency OCHA said at least 130,000 people were displaced and in sites and camps in and around Goma.

"One cannot exclude the risk of looting or renewed violence," the U.N. humanitarian coordinator in Congo, Moustapha Soumare, said in a statement.

U.N. officials said a camp housing some 45,000 people about 15 km (nine miles) outside Goma had been raided by unidentified gunmen late on Friday. Several women were raped and food and supplies stolen.

OCHA's Soumare said thousands more civilians were fleeing attacks by armed groups which were on the rise in other areas of North Kivu, particularly in Masisi.

Neighbouring Rwanda has twice invaded its western neighbour over the past two decades, at one point igniting a conflict dubbed "Africa's World War" that drew in several countries.

Aid agencies say more than 5 million people have died from conflict, hunger or disease in Congo since 1998.

Kigali has justified its interventions by arguing it was forced to act against hostile Rwandan Hutu fighters who had fled to Congo after the 1994 Rwandan genocide that saw 800,000 Tutsis and moderate Hutus killed by Hutu soldiers and militia.

Rwanda's military said on Sunday that FDLR rebels crossed the border from Congo and attacked a game warden camp, killing one warden in what it said was the second raid by the Rwandan Hutu group in six days.

The M23 rebels said they took up arms over what they call the government's failure to respect a March 23, 2009, peace deal that envisaged their integration into the Congolese army. Their name comes from the date of the previous deal.

(Additional reporting Tom Miles in Geneva; Writing by Pascal Fletcher; Editing by Pravin Char)



23.07 | 0 komentar | Read More

Assam govt focus on right to public service

Guwahati, Dec 3 (PTI) Assam government plans to bring a total of 47 services under 13 different departments under the Right to Public Services Act 2012 during the first phase of rolling out the law, which was passed earlier this year. At a high-level meeting organised at his office here today to discuss the implementation of the Act, Assam Chief Minister Tarun Gogoi directed all departments to take steps in this direction. "Officials will have to ensure that people's grievances regarding public services are addressed at the earliest. This Act will go a long way in ensuring that public services reach the intended beneficiaries on time," he said. The meeting also reviewed steps to prepare a logo for the Act, besides discussing measures to make use of information technology and giving it wide publicity. The legislation titled 'Assam Right to Public Services Act, 2012' is intended to ensure better delivery of public services which the government is mandated to provide to citizens. It provide rights to the citizens to get notified public services within a definite timeframe and also fixes responsibility on public servants to provide these services in a time-bound manner. The notified services are likely to include ration cards, birth and death certificates, water, power connections and works related to land revenue departments. PTI PPB NIK HKS
23.07 | 0 komentar | Read More

Govt justifies cash transfer announcement

Mon, Dec 03, 2012 at 21:06

Govt justifies cash transfer announcement

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Govt justifies cash transfer announcement

Govt justifies cash transfer announcement

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Govt justifies cash transfer announcement

Govt justifies cash transfer announcement

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New Delhi, Dec 3 (PTI) Government today justified the announcement of its direct cash transfer scheme saying it does not constitute violation of the model code of conduct and does not contain anything new that was not in this year's Budget. In a communication to Election Commission, which had expressed unhappiness over last week's announcement and sought an explanation, the government said the Finance Minister's Budget Speech in March this year had outlined the success of several pilots across a number of states relating to the Aadhar-based service delivery mechanism. This only clearly established that the Scheme had already been partially operationalised even prior to March 2012, the government contended. The BJP had objected to the government announcement and had petitioned the poll authority to set aside the scheme. "The present proposal to extend the pilots to 51 districts across India is the logical next step towards the implementation of this methodology of transferring benefits to at least 50 districts. "This is meant to ensure that the final roll out of Direct Cash Transfers is seamless and smooth. Thus, the proposed pilot in 51 districts is not a new scheme but an extension of the pilot already in place," the communication from the Planning Commission said. It said that recommendations of the Task Force headed by Nandan Nilekani on IT strategy for Direct Transfer of Subsidy were made way back in February 2012. These recommendations were accepted by the Government in March 2012, and were also announced by the Finance Minister in his Budget Speech. "In view of all (the) above, it is stated that the announcement being objected to does not constitute a violation of the Model Code of Conduct," the Planning Commission letter said. (More) PTI SKU SKC VSC

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U.S. Supreme Court takes no action on same-sex marriage cases

WASHINGTON (Reuters) - The U.S. Supreme Court on Monday remained silent about whether it will enter the legal fray over same-sex marriage a n d agree to hear one of several pending appeals on the issue.

The court's nine justices met in private on Friday to consider whether to review challenges to the U.S. Defense of Marriage Act, which denies federal benefits to married same-sex couples, and to California's gay marriage ban, known as Proposition 8.

In an "orders list" issued early on Monday, the court made no mention of any of the same-sex marriage cases. The court could reschedule those cases for further consideration at its weekly conference on Friday. The justices sometimes hold especially complex cases for a future conference if they want more time to figure out a course of action.

(Reporting by Terry Baynes in Washington; Editing by Howard Goller and Bill Trott)



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Norway princess in secret India trip to play nanny

OSLO (Reuters) - Norway's Crown Princess Mette-Marit secretly travelled to India in order to care for infant twins born to the surrogate mother of a gay palace employee unable to get a travel visa, the palace said on Monday.

Armed with a diplomatic passport that granted her immediate access, the future queen jumped on a plane in late October when the employee, who is also a friend, and his husband were unable to travel to care for their newborns.

"For me, this is about two babies lying alone in a New Delhi hospital," Mette-Marit said in a statement. "I was able to travel and wanted to do what I could."

She did not alert Indian authorities and spent several days with the babies at the Manav Medicare Centre, where staff assumed the wife of Norway's Crown Prince Haakon was a nanny.

While the princess was away, her name continued to appear in the official palace calendar and her absence from a parliamentary dinner was not explained.

A relative of the two fathers eventually took over from Mette-Marit and the fathers received a visa in November, when they brought the babies back to Norway, the palace added.

Surrogacy is a hotly debated issue in Norway and the government discourages Norwegians from paying surrogate parents for children.

Protestant Norway was the second country in the world in 1993 to register same sex partnerships while same sex marriage has been legal since 2009.

The Crown Princess acknowledged the debate and insisted she is not taking a side and only did what a friend had to do.

"Sometimes life presents you with situations with few good solutions. This was one of those," she said. "There is an important debate doing on about surrogacy and this was not meant as taking a side."

(Reporting by Balazs Koranyi, editing by Paul Casciato)



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