Sanjay Malhotra, Governor, Reserve Bank of India RBI has lowered...
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India needs to keep a watch on cybersecurity, climate change and system-wide contagion risks: IMF report
IMF report suggested enhanced data coverage with better granularity...
Flipkart fined Rs1.06 cr for flouting IRDAI norms
Flipkart Internet Pvt Ltd ( FIPL) is a registered corporate agent...
RBI Governor launches financial inclusion dashboard Antardrishti
Shaktikanta Das, Governor, Reserve Bank of India The FI-Index has been conceptualised as a comprehensive index incorporating details of banking, investments, insurance, postal as well as the pension sector in consultation with the government and respective sectoral...
Govt bans 14 fixed dose combination drugs, cites they may involve risk to people
The banned drugs included those used for treating common infections, cough, and fever -- combinations such as Nimesulide + Paracetamol dispersible tablets, Chlorpheniramine Maleate + Codeine Syrup, Pholcodine +Promethazine, Amoxicillin + Bromhexine and Bromhexine +...
UK PM Rishi Sunak plans to set up global AI watchdog in London: Report
Among the ideas under consideration in Downing Street is setting up a global AI authority in London, modelled on the Vienna-based International Atomic Energy Agency (IAEA) London: British Prime Minister Rishi Sunak is considering a London-based global artificial...
IRDAI asks SBI Life to take over business of defunct Sahara Life
SBI Life will have take over the policy liabilities of around two lakh policies of Sahara India Life Insurance (SILIC), backed by the policyholders’ assets, said the IRDAI, The policy data of SILIC reveals that the company’s portfolio is showing run-off trend. The...
IRDAI issues norms for deploying `Bima Vahaks’ to enhance insurance inclusion
There can be Corporate Bima Vahak, who are legal person registered in accordance with the respective laws of India and can be engaged by an insurer and Individual Bima Vahak, who can be individuals either appointed by an insurer or appointed by a Corporate Bima Vahak...
Amazon fined $25 mn for violating children’s privacy law, deceiving parents
"Amazon's history of misleading parents, keeping children's recordings indefinitely, and flouting parents' deletion requests violated COPPA and sacrificed privacy for profits," said Samuel Levine, Director of the FTC's Bureau of Consumer Protection San Francisco:...
India transformed in less than a decade:Morgan Stanley
The report highlighted the 10 big changes, including supply-side policy reforms, formalisation of the economy, Direct Benefit Transfer, Insolvency and Bankruptcy Code, focus on FDI and flexible inflation targeting. These changes are because of India's policy choices,...
Top AI CEOs, experts raise ‘Risk of Extinction’ from AI
“Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war,” more than 350 signatories wrote in a letter published by the nonprofit Center for AI Safety (CAIS). Top artificial...
Number of frauds rose in FY23, amount involved halved: RBI data
Frauds occurred predominantly in the category of digital payments (card/internet), in terms of number, said Reserve Bank's Annual Report 2022-23 The number of frauds in the banking sector went up to 13,530 in 2022-23 year-on-year, but the amount involved nearly halved...
ICICI Bank to raise holding in ICICI Lombard General by 4% to 52 pc by next year
At the current trading market price, the bank will have to shell out about Rs 2,352.5 crore to acquire a 4 per cent shareholding Mumbai: ICICI Bank has said its Board has approved a plan to raise its stake in general insurance arm ICICI Lombard by 4 per cent in the...