limit | Common News Update

Jul202023 by adminNo Comments

World will miss 1.5C warming limit – top UK expert

Science

Joaquin Sarmiento/Getty ImagesBy Esme Stallard & Justin RowlattBBC News Climate and ScienceA leading British climate scientist has told the BBC he believes the target to limit global warming to 1.5C will be missed. Professor Sir Bob Watson, former head of the UN climate body, told the BBC's Today programme he was "pessimistic".His warning comes amidst a summer of extreme heat for Europe, China and the US.The UN says passing the limit will expose millions more people to potentially devastating climate events.The world agreed to try to limit the temperature increase due to climate change to 1.5C above pre-industrial levels at a UN conference in Paris in 2015. That target has become the centrepiece of global efforts to tackle climate change.Climate scientists have been warning governments...

Mar92021 by adminNo Comments

‘Significant long-term scarring’ in services will limit pent-up consumer demand and suppress inflation, economist Stephen Roach predicts

Finance

Economist Stephen Roach said Monday he believes Wall Street is overestimating a consumer comeback.According to the Yale University senior fellow, demand will snap back like a rubber band later this year as the V-shaped recovery loses momentum."With vaccines rushing out together with a lot of stimulus, you can just sense this instant gratification of a long-deferred pent-up demand," Roach told CNBC's "Trading Nation." "But as I look at the numbers, you know, most of that surge has probably already occurred."He's building part of his case on the consumer durables share of GDP data."We're back to levels of consumer durables that we haven't been at in about 13, 14 years," said Roach. "We've done the pent-up demand to a large extent, and it looks like it's borrowing from growth that m...

Feb12021 by adminNo Comments

Government’s move to relax FDI limit for insurance a big boost for small insurers

Finance

MUMBAI: India’s move to further liberalize limits for insurance companies raising capital from foreign players will provide a major boost to dozens of insurers in the way of fresh fund-raising avenues while paving way for top global insurers to enter India’s highly underpenetrated insurance sector. After years of deliberation, the Indian government has increased the Foreign Direct Investment (FDI) limit in insurance companies to 74% against the current 49%, Finance Minister Nirmala Sitharaman announced on Monday in the Union Budget of 21-22 albeit some “safeguards”. Prominent industry CEOs and experts claim that the move will provide a fillip to an industry which has not lived up to expectations in providing coverage to a large chunk of the country's over 130 crore population over the la...

Jan272021 by adminNo Comments

Over 70% industry respondents expect Budget to hike standard deduction limit: KPMG survey

Finance

NEW DELHI: A vast majority of industry respondents expect that the standard deduction limit for salaried individuals could be enhanced from the existing Rs 50,000 in the Budget next week, a KPMG in India survey said on Wednesday. A majority of respondents in the survey believe that with the government facing the prospect of significantly increased expenditure in the coming year, the revenue needs can be met through increased collections fuelled by an economic recovery as well as by improved technology-driven enforcement, rather than through the introduction of new taxes. A smaller number of respondents, however, expect a new COVID-19 cess. As many as 250 respondents across sectors participated in the KPMG in India's pre-budget Survey 2021-22. Asked what measures the government could adopt...

Aug142020 by adminNo Comments

Withdrawal limit of Rs 1L on PMC bank can’t be increased due to lack of liquidity: RBI

Finance

New Delhi: The Reserve Bank of India (RBI) on Friday told the Delhi High Court that presently it would not be possible to raise the withdrawal limit of Rs one lakh imposed on scam-hit Punjab and Maharashtra Cooperative (PMC) Bank Ltd due to its lack of liquidity. RBI has told the high court that against a total deposit liability of approximately Rs 10,000 crore as on March 26, 2020, liquid assets available with the PMC bank were to the tune of Rs 2,955.73 crore which is "grossly insufficient" to fully pay all its depositors as 78 per cent of its loans/advances are non-performing. It also told a bench of Chief Justice D N Patel and Justice Prateek Jalan that the insurance cover of Rs five lakh being provided to each depositor by the Deposit Insurance and Credit Guarantee Corporation (DICGC...