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SBI to monetise subsidiaries after scaling up their businesses, no IPO for SBI General this year: Chairman
Dinesh Kumar Khara,Chairman,State Bank of India This move is...
Singapore rushes to clean-up oil slick after boat hits stationary fuel ship
Singapore's Maritime and Port Authority said in a statement late...
Covid, Cyber, Compliance and ESG top risk concerns for financial services sector: Allianz
“The financial services sector faces a period of heightened risks. Covid-19 has caused one of the largest ever shocks to the global economy, triggering unprecedented economic and fiscal stimulus and record levels of government debt,” says Paul Schiavone, Global Industry Solutions Director Financial Services at AGCS. “Despite an improved economic outlook, considerable uncertainty remains. The threat of economic and market volatility still lies ahead while the sector is also increasingly needing to focus on so-called ‘non-financial’ risks such as cyber resilience, management of third parties and supply chains, as well as the impact of climate change and other Environmental Social and Governance (ESG) trends.”
Be prepared for third Covid wave, have buffer stock of oxygen: SC to Centre
A bench of Justices D Y Chandrachud and M R Shah said: We need to prepare for the third surge of COVID-19 which may have altogether different parameters. We have to be ready for that. We have been reading that some experts have said that the third surge will be more harmful especially to children.
“We understand children are more resilient as compared to elders but we have to also consider that they themselves will not go to hospitals and their parents will have to take them making them vulnerable.
U.S. reverses stance, backs giving poorer countries access to COVID vaccine patents
Pharmaceutical companies working on vaccines have reported sharp revenue and profit gains during the crisis. The industry’s biggest lobby group warned that Biden’s unprecedented step would undermine the companies’ response to the pandemic and compromise safety.
IRDA asks insurers to launch Standard Domestic Travel Insurance Policy by July 1
A Standard Domestic Travel Insurance Policy will have Room Rent, Boarding, Nursing Expenses all inclusive as provided by the Hospital / Nursing Home up to 2 per cent of the sum insured subject to maximum of Rs.10000/- per day, are allowed in the policy.
Intensive Care Unit (ICU) charges/ Intensive Cardiac Care Unit (ICCU) charges all inclusive as provided by the Hospital / Nursing Home up to 4 per cent of the sum insured subject to maximum of Rs.20,000/- per day, can availed by a customer..
India reports highest-ever single-day spike with 4,12,262 new COVID-19 cases, 3,980 deaths
As many as 3,980 patients succumbed to the infection during the last 24 hours, taking the total COVID-related death toll to 2,30,168. India registered a total of 3,29,113 recoveries in the last 24 hours. The total number of recoveries in the country now stands at 1,72,80,844.
India’s struggle to track new Covid-19 variants could worsen the crisis
Variants are already outracing vaccination progress in many parts of the world, fueling bigger outbreaks that spread faster. While some rich nations that secured effective vaccines early have seen their epidemics wane, the virus is still spreading like wildfire in developing economies, prolonging the pandemic.
PIL for vaccination centres at RWAs, NGOs offices; HC asks authorities to treat it as representation
A bench of Chief Justice D N Patel and Justice Jasmeet Singh asked the authorities concerned to treat the plea as a representation and take a decision in accordance with the law, rules, regulations and government policy applicable to the case.
‘Human catastrophe’ as India’s Covid-19 surge spreads to Nepal
“What is happening in India right now is a horrifying preview of Nepal’s future if we cannot contain this latest Covid surge that is claiming more lives by the minute,” said Netra Prasad Timsina, chair of the Nepal Red Cross.
US reissues travel advisory urges Americans not to travel to India
“Do not travel to India due to COVID-19. Exercise increased caution due to crime and terrorism,” the State Department said on Wednesday in its latest travel advisory that looked identical to the one issued on April 28.
Both the travel advisory has been marked ‘Level 4’ which is the highest warning level.
Foreign players can invest upto 74% in Indian insurance sector soon:Irda Chief
“We are committed to usher in risk-based capital (RBC) framework, which is more objective and beneficial for insurers that manage risk well. It should be possible to change over in a period of 3 years. We also plan to synchronise with the new accounting standard Ind AS 117 based on IFRS-17,” explained said Subhash Khuntia, chairman, IRDAI in an interview with Asia Insurance Post..