The DGCA also warned Air India that future violations in crew...
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S Ramann takes over as new chairman of PFRDA
S Ramann, chairman, PFRDA With his vast experience in public...
Air India warned by DGCA for flying Airbus planes with unchecked escape slides
In the report, the Directorate General of Civil Aviation said spot...
Govt asks platforms not to carry ads of fraudulent loan apps; seeks swift removal of such apps
''One of the areas we are now cracking down on is advertising of fraudulent loan apps that many platforms are carrying and we have, through yesterday's advisory, made it clear that no intermediary can carry advertisements of fraudulent loan apps because it will be...
Fraud cases in banking sector rises in first half of FY24: RBI report
With the adoption of new technology, it said, the risks of cyberattacks, data breaches and operational failures have also increased. Frauds lead to reputational, operational and business risk for banks and undermine customers' trust in the banking system with...
CCI clears Hinduja group owned entities’ acquisition of controlling stake in Reliance Capital
Reliance Capital's subsidiaries and associates are engaged in various businesses in the financial service sector including insurance New Delhi: The Competition Commission of India (CCI) has approved acquisition of controlling stake in Reliance Capital Ltd by Hinduja...
Indian life insurers’ net profit zoom 500 % to Rs 42,788 cr, lower claim settlement ratio at 98.45% in FY 2022-23
During 2022-23, the life insurance industry recorded premium income of Rs 7.83 lakh crore registering 12.98 per cent growth De-growth of 2.21 per cent in the number of new policies issued Benefits paid on account of surrenders /withdrawals increased by 25.62 per cent...
Indian insurance penetration falls marginally to 4% in FY 2022-23: Irdai report
The country’s insurance penetration has fallen as the insurance penetration of domestic life insurance sector is reduced from 3.2 per cent in 2021-22 to 3 per cent in 2022-23 and the same for non-life Insurance sector remained at 1 per cent in both these years, said...
Centre issues advisory to social media intermediaries with focus on curbing deepfakes
"A formal advisory has been issued incorporating the ‘agreed to’ procedures to ensure that users on these platforms do not violate the prohibited content in Rule 3(1)(b)," Minister of State for Electronics and IT, Rajeev Chandradekhar said New Delhi: The government on...
Britain and Switzerland agree wide-ranging financial services trade deal
“It is an agreement based on deference: Swiss firms can operate inside the UK under Swiss rules and UK firms can operate inside Switzerland under UK rules,” UK's Chancellor of the Exchequer Jeremy Hunt said. “This is a light-touch, progressive, future-leaning way of...
Global regulators make tackling non-bank leverage a priority for 2024
The G20’s Financial Stability Board (FSB) and IOSCO, a global grouping of securities markets regulators, on Wednesday issued tougher liquidity management guidance for asset managers of open-ended investment funds, adding to existing guidance for money market funds,...
2024: Reforms to keep Indian insurance sector buoyant
Sumit Rai, MD & CEO, Edelweiss Tokio Life Insurance One of the awaited developments of 2024 is that the government will table the Insurance Laws (Amendment) Bill as it has the potential to bring another round of positive reforms and bolster the growth prospects of...
SAT upholds Irdai’s decision to cancel TPA E-Meditek’s license
The Irdai order lists 13 charges against E-Meditek. These charges are with respect to empanelment of fake hospitals and payment of claims pertaining to these hospitals, payments and servicing of fictitious and fraudulent insurance claims, unexplained dealing in cash...