The tribunal was hearing a matter where it had taken suo motu (on...
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India outperforms other major economies even as growth slows in April-June
Despite strong growth relative to other economies, India faces...
Govt taking various measures at policy level to help fintech sector: PM Modi
Prime Minister Narendra Modi Addressing the Global Fintech Fest...
ICICI Lombard’s net profit rises 23 % to Rs 346 crore in Q4 FY 21,combined ratio at 101.8 %
Among the business segments, motor, marine and health portfolio saw an underwriting loss in Q4 Fy 2020-21. The insurer had a munderwriting losses stood at Rs 207.97 crore, marine underwriting loss at Rs 10.18 crore, health (retail) underwriting loss was at Rs 8.77 crore and health (corporate) underwriting loss at Rs 23.4 crore.
It has paid claims of over Rs 100 crore on account of natural catastrophe in Fy 2020-21, mainly for Cyclone Amphan that had triggered a total insurable losses of over Rs 1500 crore.
EU set to ban surveillance, start fines under new AI rules
As artificial intelligence has started to penetrate every part of society, from shopping suggestions and voice assistants to decisions around hiring, insurance and law enforcement, the EU wants to ensure technology deployed in Europe is transparent, has human oversight and meets its high standards for user privacy.
Vaccination not shield against COVID, can reduce severity, lower fatality: Experts
From Delhi to Chennai and even in tier-2 cities like Patna, cases of vaccination beneficiaries contracting the coronavirus infection have been reported in the last couple of months.
Investors line for new banking licenses
Applicants under guidelines for ‘on tap’ Licensing of Universal Banks are:UAE Exchange and Financial Services Limited,The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank),Chaitanya India Fin Credit Private Limited,Pankaj Vaish and others
PM Modi reviews status of oxygen availability to ensure adequate supply
The Prime Minister was conveyed that states and transporters have been asked to ensure tankers move round the clock with drivers working in shifts to ensure faster turnaround and adequate capacity to meet the surge in demand. Cylinder filling plants will also be permitted 24 hour working with necessary safeguards. The government is allowing industrial cylinders to be used for medical oxygen after due purging. Similarly, nitrogen and argon tankers will be automatically allowed to be converted to oxygen tankers to overcome the potential shortage of tankers, as per the statement.
US, India to launch hydrogen task force under Strategic Energy Partnership
US Deputy Secretary of Energy, David M Turk.said that only through joint efforts and concrete, measurable actions, on hydrogen and other emerging technologies, “we will be able to achieve deep decarbonization and meet critical climate and clean energy goals”.
Govt notifies draft rules for hiking FDI to 74 % in insurance sector
According to the draft rules, in an Indian insurance company having foreign investment exceeding 49 per cent not less than fifty per cent. of the net profit for the financial year have to be retained in general reserve, if the insurer’s solvency margin is less than 1.2 times the control level of solvency for a financial year for which dividend is paid on equity shares.
Not less than fifty per cent. of directors of such insurers will be independent directors, unless the chairperson of its board is an independent director, in which case at least one-third of its board shall comprise of independent directors.
Health ministry issues regulatory pathways for foreign-produced Covid-19 vaccines
The first 100 beneficiaries of such vaccines shall be assessed for seven days for safety outcomes before it is rolled out for further Vaccination programme.
“Applicant shall initiate conduct of post-approval bridging clinical trials within 30 days of such approval,” it said.
217,353 new Covid-19 cases reported,Deaths rise by 1,185
India is battling a massive second wave of the coronavirus pandemic, with new restrictions imposed in Mumbai, New Delhi and other cities. There are also growing calls for officials to speed up the country’s vaccination programme as hospitals are swamped with patients.
Monsoon to be normal this year, says IMD
“The monsoon will be 98 per cent of the Long Period Average (LPA) which is normal rainfall. It is really good news for the country and will help India have a good agriculture output,” M Rajeevan, secretary of the Ministry of Earth Sciences.at a virtual press conference.