The court made the observation while dismissing an appeal filed by...
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Insurance and bank stocks erase $14 billion on IRDAI’s fee cap plan
PB Fintech, which owns Policybazaar, plunged as much as 34%, while...
India’s insurance sector sees resilient growth, but profitability, productivity remain key challenges: McKinsey
Between fiscal years 2017 and 2025, the number of in-force...
Aviation regulator DGCA orders drug tests for pilots across all airlines
The moves come against the backdrop of the pilot-in-command of an Air India Phuket-Delhi flight, which suddenly lost nearly 300 feet altitude leaving many passengers injured on August 4, testing positive for drug use. New Delhi: Aviation watchdog DGCA has ordered drug...
Ind AS:11 re/insures switch to new accounting system, says IRDAI
The insurers that have been granted forbearance and are scheduled to implement Ind AS from FY 2027-28 are being closely monitored by IRDAI as per their board approved monthly implementation milestones. The IRDAI is engaging with insurers on an ongoing basis, with any...
Zuno Gen Insurance promises to cover damage to cars due to blended fuel use
The product comes amid a heated debate on the impact of the mandatory use of ethanol in fuels. The government has admitted to reverses on mileages, while there are also claims of other damage, including to engines. Mumbai: Zuno General Insurance on Wednesday said it...
IRDAI slaps Rs1 cr fine on ICICI Lombard for violating outsourcing norms
The IRDAI passed an order against ICICI Lombard General Insurance after conducting an onsite inspection conducted during September 2019 and subsequent enforcement proceedings. Hyderabad:The IRDAI on Monday, has imposed a monetary penalty of Rs one rore on ICICI...
“India’s medical tourism has a huge potential”, says Piyush Goyal
Union Commerce and Industry Minister Piyush Goyal Highlighting India's cost advantage, Goyal said the country offers clinical excellence and advanced technologies while healthcare costs are "60 to 80 per cent lower than other parts of the world, particularly the...
Blue Machines AI launches Aurora, a BFSI-native speech-to-text model
Aurora is designed for real-time financial conversations in India, where customers frequently switch languages, combine English financial terminology with regional languages, and communicate over noisy or low-bandwidth telephone connections. Bengaluru: Blue Machines...
Alternative-fuel car: Sales more than petrol vehicles on cost, E20 concerns, dealers’ body says
Alternative-fuel models, including compressed natural gas, hybrid and electric models, accounted for nearly 42% of passenger-vehicle sales, while petrol vehicles stood at about 41%, according to the Federation of Automobile Dealers Associations (FADA), which...
Delhi tribunal awards Rs 86.45 lakh to family of woman killed in 2017 accident
The income of a homemaker needs to be calculated based on the minimum wages of a skilled worker. NEW DELHI: A Motor Accident Claims Tribunal (MACT) here has awarded Rs 86.45 lakh compensation to the family of a 31-year-old woman, who lost her life in a 2017 accident,...
Insurer can’t reject claim if alcohol habit disclosed before policy purchase: Consumer commission
The commission, however, pointed out that the medical examination form submitted on May 20, 2021, before the policy issuance, clearly stated the insured consumed "whisky of 90 ml twice in a month since 15 years". Further, relying on Supreme Court orders that termed...
40 high-hazard glacial lakes identified in Sikkim, 16 at highest risk of outburst
The state is working towards what could be the country’s first dedicated GLOF Risk Mitigation Protocol, aimed at creating a standardised scientific framework for assessing, preparing for and mitigating glacial flood risks. GANGTOK: The eastern Himalayan state of...