"Even as AI opens extraordinary possibilities, we must confront its...
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IBAI meets Sitharman, submits proposals for insurance inclusion
Lto R- Narendra Kumar Bharindwal, president, IBAI,Nirmala...
India to introduce RBI-backed digital currency: Piyush Goyal
"We have not been encouraging cryptocurrency, which does not have...
US regulator SEC drops some emissions disclosure requirements from draft climate rules
Scope 3 emissions, proposed to be withdrawn, account for greenhouse gases, such as carbon dioxide, released in the atmosphere from a company’s supply chain and the consumption of its products by customers. For most businesses, Scope 3 emissions represent more than 70%...
Sebi using AI for investigations, says whole time member Kamlesh Chandra
Against the backdrop of instances of manipulations in the stock market, he said the message is that abiding with the law will be more beneficial and violations will cause problems Mumbai: Sebi is using Artificial Intelligence (AI) for investigations, its Whole Time...
Trai recommends introduction of CNAP Supplementary Service for caller name display on phones
Industry body COAI, whose prominent members include Reliance Jio, Bharti Airtel, and Vodafone Idea, had earlier contended that the implementation of Calling Name Presentation (CNAP) should not be made mandatory but kept optional for telecom operators. COAI had flagged...
IRDAI retains Obligatory Cession to GIC Re at 4% for FY25
The IRDAI, after consultation with the Advisory Committee, and with the previous approval of the Central Government has taken the decision that the percentage cession of the sum insured on each general insurance policy to be reinsured with the Indian Re-insurer (GIC...
Indian Fintech: Fast, Furious — and Fraudulent?
Media reports suggest that more non-bank intermediaries after Paytm Payments Bank may expect a rap on the knuckles. Just what has made the Reserve Bank of India so cranky all of a sudden? Andy MukherjeeFirst, Paytm was asked to freeze its banking business, a crackdown...
Centre issues stern warning against surrogate ads seen as harming consumers
“We are committed to working collaboratively with all stakeholders as we navigate through this evolving issue. The Department of Consumer Affairs reaffirmed its stance with utmost clarity that any continued involvement in surrogate advertising will not be condoned. It...
‘Money mule’ bank accounts on the rise in India: Report
Mule accounts are owned by people who are duped by fraudsters into laundering stolen/illegal money via their bank accounts. When such incidents are reported, the "money mule" becomes the target of investigations due to their involvement New Delhi: Banks in India need...
Govt shortlists 4 candidates for selecting IRDAI’s Member, Distribution
Out of many applicants, who had applied for the job, the Ministry of Finance, has shortlisted the names of Satyajit Tripathy, CMD, United India Insurance, Randip Singh Jagpal, executive director, IRDAI, LK Shyamsunder, zonal manager, South Central Zone, Life Insurance...
FSDC to formulate strategy to digitalise KYC process in financial sector, curbing illegal online lending
(Lto R) Shaktikanta Das, Governor, Reserve Bank of India, Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs and Bhagwat K Karad,,Union Minister of State for Finance at the 28th meeting of FSDC in New Delhi The FSDC on Wednesday discussed various...
Indian regulators seek to crack down on potential fraud in financial sector
While Indian banks have boosted spending on technology to detect potential money laundering and prevent fraud, the cases are rising. The number of reported frauds of more than 100,000 rupees ($1,205) rose 68 per cent to more than 14,000 from April to September last...