The move assumes significance as the government is, for the first...
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India has 879.59 metric tonnes of gold, 511.99 MT held domestically: RBI
In value terms (USD), the share of gold in the total foreign...
US insurers pulling ahead in AI investment, strategy execution
One thing is certain, AI is not just a technical investment, it’s a...
Banks to launch 100 days campaign to trace & settle unclaimed deposits: RBI
Balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as ''unclaimed deposits'' Recently, the RBI has also announced the setting up of a centralised web portal for...
Governments across the world race to regulate AI tools
The European Data Protection Board, which unites Europe’s national privacy watchdogs, said in April it had set up a task force on ChatGPT, a potentially important first step towards a common policy on setting privacy rules on AI Rapid advances in artificial...
Irdai sets up expert panel for matters related to mental health
A holistic examination of the various aspects involved such as types of conditions, types of treatments etc from the insurance perspective is necessary when dealing with products designed to cover mental illnesses and other related aspects Hyderabad: Regulator Irdai...
IRDAI asks insurers to provide mandatory covers for surrogate mothers
The Surrogacy (Regulation) Act, 2021, says an insurance coverage of such amount and in such manner as may be prescribed in favour of the surrogate mother for a period of thirty-six months covering postpartum delivery complications from an insurance company or an agent...
RBI invites firms to participate in Greenwashing TechSprint
The number of investment products marketed as 'green' or making wider sustainability claims is growing. Exaggerated, misleading or unsubstantiated claims about Environmental, Social and Governance (ESG) credentials damage confidence in these products and the RBI wants...
Govt working to bring in e-commerce policy, rules under consumer protection act on same page
''We are holding discussions to harmonise e-commerce policy and e-commerce rules under the consumer protection act…While doing so, we will try to ensure that whether a regulator or some other way…rules that will ensure that the customer is the king,'' Secretary of the...
FinMin to take call on Rs 3,000 crore infusion into 3 PSU general insurers
The FY’23 financial numbers would give some idea about the impact of restructuring initiated on the profitability numbers and the solvency margin, sources said Barring the solvency ratio of New India Assurance, this key indicator of the three Public sector general...
Govt to examine WhatsApp’s breach of privacy: Minister
Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology In a tweet, the minister said the government will examine the alleged breach of privacy even as the new Digital Personal Data Protection Bill was being readied.This followed a claim...
Irdai’s order to stop loan re-payment via credit card good for policyholders: Insurers
Welcoming the Irdai's decision, Kamlesh Rao, MD and CEO, Aditya Birla Sun Life Insurance, said it helps ensure the best interests of policyholders and supports responsible financial planning. Mumbai: Regulator Irdai's decision to bar repayment of loans taken against...
EU plans tough ‘value for money’ rules for investment products – draft document
The draft law calls on EU securities watchdog ESMA and its counterpart for the insurance sector, EIOPA, to come up with benchmarks industry would have to use to show that the cost of a product is justified and proportionate Banks, insurers and asset managers in the...