Under the new framework, banks will be assessed using financial and...
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Law must remain responsive to lived human realities, says SC; enhances compensation
“If the law is capable of recognising anticipated economic...
RBI announces Rs 25k compensation to bank customers hit by digital fraud
"As long as (the customers) are defrauded whether on their own...
Health insurers disallowed claims worth Rs 15,100 cr during FY24
Insurers repudiated claims amounting to Rs 10,937.18 crore (9.34 per cent) while outstanding claims totalled Rs 7,584.57 crore (6.48 per cent), said the annual report 2023-24 of Insurance Regulatory and Development Authority of India New Delhi: Health insurers...
High employee attrition of 25% in private banks pose operational risk: RBI
"High attrition and employee turnover rate pose significant operational risks, including disruption in customer services, besides leading to loss of institutional knowledge and increased recruitment costs. In various interactions with banks, the Reserve Bank has...
Climate change risks impacting financial system, need India-specific data: RBI’s Dy Gov
“Over the last few years, we have taken several incremental measures in this direction. It started with the setting up a dedicated group within the Bank to assess climate change risks and foster a robust ecosystem for sustainable finance,” said Reserve Bank of India...
FIIs remain net investors in India this year amid robust economy, resilient market
“An important characteristic about FII investment is that they have been consistent investors of equity through the primary market. In December through 27th, FIIs invested Rs 17,331 crore through the primary market,” said V.K. Vijayakumar, Chief Investment Strategist,...
Micro insurance premium in life segment rises 24% to Rs 10,000 crore in FY24
The number of persons covered under the scheme stood at 178.39 million New Delhi/Hyderabad: The micro-insurance premiums in the life insurance sector in the country has surpassed Rs 10,000 crore for the first time in FY24, according to industry data. The number of...
Karnataka HC directs registrar to issue revised birth death certificates for transgenders
Justice Suraj Govindaraj issued these orders while resolving a petition from a 34-year-old transgender woman who had her gender reassignment surgery and sought to update her name and gender on her birth certificate. The Mangaluru City Corporation's Registrar of Births...
NGT calls for safe disposal system of used solar panels, asks govt’s reply
The matter was raised through a letter petition highlighting the environmental risks posed by discarded panels and the need for an organized system for their proper handling and management. As solar panels become increasingly popular, particularly in rural areas,...
Banking frauds rise in H1FY25, amount involved jumps 8-time: RBI report
The RBI said frauds present multiple challenges for the financial system in the form of reputational risk, operational risk, business risk and erosion of customer confidence with financial stability implications Mumbai: The number of bank frauds witnessed a...
NHPC’s 2000MW Lower Subansiri project in Sikkim incurred loss of Rs 1 075.97 cr due to flash floods
The company in a regulatory filing said that the amount of damage caused by flash flood occurred on October 4, 2023 was to the tune of Rs 1,075.97 crore, which has been reported to the insurer New Delhi: State-run hydro power giant NHPC on Thursday said the flash...
Doha Insurance Group to set up reinsurance business in Gift City
Doha Insurance Group(DIG) is currently working on completing the necessary procedures and obtaining the required regulatory approvals for Gift City project from the Qatar Central Bank and the other regulatory and supervisory authorities in the Republic of India, said...