"Even as AI opens extraordinary possibilities, we must confront its...
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NITI Aayog unveils roadmap on AI to empower 490 million informal workers
NITI Aayog's Mission Digital ShramSetu will harness AI, blockchain,...
Bajaj Finserv rebrands insurance businesses as Bajaj General Insurance and Bajaj Life Insurance
Sanjiv Bajaj, chairman & managing director, Bajaj Finserv "The...
National Insurance Academy seeks partnerships to venture into hi-tech research and training: new Director
``We are keen on taking insurance related initiatives to the masses through new age technologies like AI, ML and Blockchain etc and undertake research in the areas of Cyber security, Financial Inclusion, Social Security, Crop yields, Risk Management, allied areas and...
RBI selects McKinsey and Company, Accenture Solutions to use AI, ML to improve regulatory supervision
The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision over banks and NBFCs. For this purpose, the central bank plans to hire external experts Mumbai: The...
No compensation paid from Environment Relief Fund since 2019: Govt
Instituted under the Public Liability Act, 1991 (PLIA) in the wake of the Bhopal Gas Tragedy, the Environment Relief Fund's (ERF) primary purpose is to offer immediate relief to victims of accidents involving hazardous substances. The PLIA mandates industries handling...
Doctors to be penalised for not prescribing generic drugs, says new NMC regulation
Even though doctors are currently required to prescribe generic drugs only, there are no penal provisions mentioned in the regulations issued in 2002 by the Indian Medical Council "Every RMP (registered medical practitioner) should prescribe drugs using generic names...
There should be realistic green ratings to assess actual environmental impact of projects: RBI Governor
''Green flows today are dependent on ESG (Environment, Social, Governance) ratings. Recent research shows that these ESG ratings do not adequately reflect financial and non-financial materialities of these investments. Therefore, there is a need to ensure that 'green...
Action taken against 1.6 lakh claims worth Rs 287 crores under AB-PMJAY till Aug 5: Mandaviya
The anti-fraud structure under the scheme has National Anti-Fraud Unit at the central level, followed by State Anti-Fraud Units. NHA uses Artificial Intelligence (AI) and Machine Learning (ML) technologies to detect suspicious transactions or potential frauds under...
New India’s net profit doubles to Rs 260 crore in Q1FY24
Neerja Kapur, CMD, NIA ``The company continues to focus on improving the business mix by shedding businesses where premiums are inadequate and may impact its bottom line. The company maintained its market leadership in India with a market share of 16.2 per cent,’’...
IRDAI appoints Canara HSBC Life Insurance as lead insurer for Karnataka
“The State Level Insurance Committee should ideally formulate a short term and medium term plan so that a more dedicated and synergized approach is followed within state for insurance awareness. PMJJBY is a measurable product and IRDAI can support the initiative by...
GIC Re net profit rises 6.1% to Rs 732 crore in Q1, further sheds loss making business
Devesh Srivastava, CMD, GIC Re ``Profit is the only embedded principle of all our business. We will not do any business that is not adding to our bottom line. We have restructured our entire organisation and manpower in recent years to deliver on results,'' said...
LIC’s net profit jumps to Rs 9,544 crore in Q1FY24
Siddarth Mohanty, chairman, LIC ``Our premium has fallen in Q1 as our ticket size of the policy has gone up. We would like to grow our bottomline but would ensure that our top line growth is maintained at better than the industry's growth rate so that our market share...