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Extraditing fugitives
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Govt push to step up Covid-19 vaccine output 10 times by September After fast-tracking the entry of foreign vaccines, the government is now taking steps to increase the production of indigenously developed Covaxin by almost ten-fold by September. The move comes at a time when Covid-19 cases have surged across the country and several states have raised concern over vaccine shortage.
Govt s draft proposals tie insurance FDI hike to solvency margin The finance ministry has proposed insurance companies with foreign ownership of more than 49 per cent will have to maintain a solvency margin of 180 per cent if they declare dividend payments in a financial year. If insurance companies repatriate profit in the form of dividend to their shareholders but cannot meet the 180 per cent margin, they will have to set aside 50 per cent of their net profit in a general reserve, according to draft rules proposed by the Department of Financial Services (DFS).
Finmin s prompt measures helped in Nirav Modi extradition process
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Last Updated: Apr 16, 2021, 10:42 PM IST
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Synopsis
UK Home Secretary Priti Patel on Friday signed off on the order to extradite Nirav Modi, wanted in India on fraud and money laundering charges related to the estimated USD 2-billion Punjab National Bank (PNB) scam case.
To put a check on offenders fleeing the country, the government brought the Fugitive Economic Offenders Act 2018.
Prompt measures and legal actions taken by the Indian government and
PNB helped in securing the extradition of diamantaire Nirav Modi by the UK on Friday, a senior official said. UK Home Secretary Priti Patel on Friday signed off on the order to extradite Nirav Modi, wanted in India on fraud and money laundering charges related to the estimated USD 2-billion Punjab National Bank (PNB) scam case.
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