Key outcomes were urgent transition to 1600-Series for Commercial...
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What’s in the EU’s 18th sanctions package against Russia?
Central to the package is a lower price cap on Russian oil – a move...
No Insurance Amendment Bill yet in Parliament’s Monsoon session
The government has already listed eight bills for their...
RBI Deputy Governor urges banks to prioritize legal and cyber risks arising from AI
''With the adoption of AI and GenAI, laws are to be redefined. Industry needs to note that Digital Personal Data Protection (DPDP) Act rules are going to come soon, and banks may be in violation of some of it so it's important to start preparing for it,'' RBI Deputy...
RCap administrator objects Rs 118 crore special payment proposal to key team of Reliance General Insurance
`This action of yours in provisioning for the KMPs runs contrary to your representation on the solvency ratio post infusion of the additional funds, Also, we, have not granted any approval under section 197 of the Companies Act 013 for the payment of such remuneration...
MoS Health Bharati Pawar lists out measures taken to ensure quality of medicines
Bharati Pravin Pawar,Union Minister of State for Health and Family Welfare The Drugs and Cosmetics Rules, 1945, have been amended, making it mandatory that before the grant of manufacturing licence, the manufacturing establishment be inspected jointly by the Drugs...
Britain’s financial regulators need ‘ambitious mindset’, says industry leader
“At Lloyd’s, we have the capacity and expertise to evaluate and approve a new underwriting syndicate within 30 days, but the external regulators require many months more before making a decision, causing businesses to set up outside the UK,” said Carnegie-Brown,...
Regularly monitoring compliances of intermediaries with new IT rules: MoS IT
Rajeev Chandrasekhar,Minister of State for Electronics and IT “Intermediaries should take additional measures to not permit any advertisements of illegal loan and betting apps. Intermediaries have been warned that non-compliance will lead to losing exemption from...
RBI raises ceiling on remuneration of non-executive directors to Rs 30 lakh
"Considering the crucial role of non-executive directors in efficient functioning of bank boards and its various committees and in order to further enable the banks to sufficiently attract qualified competent individuals on their boards, it has been decided to revise...
Govt formulating action plan to compensate victims of cyber financial frauds
Vivek Joshi, Secretary, Department of Financial Services Also discussed was the issue of integration of Citizen Financial Cyber Fraud Reporting and Management System platform with National Cybercrime Reporting Portal with the aim to centralise the platform that will...
Par panel asks ministries to work on mechanism to check virtual accounts misuse
The panel said that while being briefed about the various modes of cyber frauds, the MHA representatives submitted that a virtual account was one such issue that fraudsters were using for committing frauds. It was further submitted that these virtual accounts were...
RBI leaves key rates unchanged as inflation remains above 4%
Monetary policy must continue to be actively disinflationary, RBI Governor Shaktikanta Das said in his statement MUMBAI: India's key rate was left unchanged for a sixth straight meeting on Thursday, as inflation remained above the central bank's 4% medium-term target...
IRDAI sets higher targets for insurers in revised norms on `Rural, Social Sector and Motor Third Party Obligations’
Insurance business pertaining to Government social security schemes such as Pradhan Mantri Awas Yojana, Pradhan Mantri Suraksha Bima Yojana (PMSBY),Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJY), etc. where total/ partial premium is paid by the Government,...