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Govt launches AI tools, e-commerce safety measures to boost consumer protection
The Consumer Protection Authority (CCPA) is drafting new guidelines...
Govt to issue guidelines on pesky calls next month: Consumer Affairs Sec
Consumer Affairs Secretary Nidhi Khare said the department has...
India’s monsoon rainfall forecast to be above average in September
Nearly half of India’s farmland gets no irrigation and is dependent on the annual rains from June to September. Farming accounts for nearly 15% of the economy, Asia’s third-biggest sector, but sustains more than half of a population of 1.3 billion.
Amazon app seeks share of India’s farm market, offers advice on crops
The Seattle-headquartered giant has begun offering real-time advice and information through a dedicated mobile app to help farmers make decisions on crops and even deploy machine learning technology. The program–which Amazon dubs Reactive and Proactive Crop plans–promises to provide growers with cutting-edge technology and insights.
Madras HC puts order on `bumper-to-bumper cover’ for new vehicles on hold
GI Council had sought certain clarifications as well as time from the Madras HC , pointing out the order cannot be implemented from Spt o1 and it is advisable to hear the various interested parties in the matter and the insurance sector regulator the IRDAI..
Atal Pension Yojana subscriber count cross 33 mn-mark, says PFRDA
A guaranteed pension scheme of the government, APY ensures Rs 1,000 to Rs 5,000 per month pension, depending upon the contribution made, to a subscriber from the retirement age of 60 years.
Public sector banks accounted for the highest number of APY subscribers at over 2.33 crore, as per PFRDA data.
Axis Bank raises $600 mn through ESG-compliant AT1 bonds sale overseas
Merchant bankers also said this was only the third environment, social and governance (ESG)-themed bond issue by any lender globally and the first one in India.
DGCI gives nod for phase 2/3 trials of Biological E’s Covid vaccine on those aged between 5 & 18
India’s drug regulator in July granted permission to Serum Institute of India (SII) for conducting phase 2/3 trials of Covovax on children aged 2 to 17 years with certain conditions.
Govt examining public comments on draft Consumer Protection (e-commerce) Rules
Ban on fraudulent flash sales and mis-selling, and appointment of chief compliance officer/grievance redressal officer are among key amendments proposed to the Consumer Protection (e-commerce) Rules, 2020, on which the government had sought public comments by July 6.
Semiconductor shortage hurting production, may impact Aug-Sep automobile wholesales: Report
Noting that chip shortages are hurting production and should impact August-September wholesales, Jefferies said, ”companies such as Maruti, Bajaj and Royal Enfield have seen an increased impact in the September quarter.” The recent pandemic-related lockdown in Malaysia might add to the constraints, it added.
Semiconductors are silicon chips that cater to control and memory functions in products ranging from automobiles, computers and cell phones to various other electronic items.
Facebook, Xiaomi want a slice of India’s $1 trillion digital loan market
Amazon.com also made its maiden investment in the country’s wealth management sector this month, participating in a $40 million round by fintech startup Smallcase Technologies Pvt.Alphabet Inc.’s Google is also upping its game. After offering wealth management products such as digital gold, mutual funds on its popular Google Pay platform, it’s now tied up with small Indian lenders for opening time deposits for its customers.
India’s digital payments market is drawing the attention of some of techs biggest names after online transactions surged during the pandemic and traditional lenders turned cautious following a rise in bad debt. Digital lending is expected to treble to $350 billion by 2023 and reach a total of $1 trillion in the five years since 2019, according to estimates from the Boston Consulting Group.
LIC’s total assets swell 22 % to Rs 38 trillion in FY 2021
The corporation’s total Life Fund(total investment) has gone up by 10 per cent y-o-y to the tune of Rs.34,36,686 rores in Fy 2020-21.
The total funds of the corporation, invested across the sectors of the economy, are Rs 36,76,170 crores as on 31st March 2021.
In 2020-21 LIC has settled 229.15 lakhs claims amounting to Rs. 1,47,754 crores.