IMF report suggested enhanced data coverage with better granularity...
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Flipkart fined Rs1.06 cr for flouting IRDAI norms
Flipkart Internet Pvt Ltd ( FIPL) is a registered corporate agent...
Indian insurance industry waits for a new IRDAI chairman
The names of Ajay Sheth, who have been appointed as finance...
Centre mulling taking action against e-pharmacies over data misuse
"Health Ministry has taken note of malpractices reported in the sector which lead to concerns over data privacy, sales of medicines without prescription, and predatory pricing," the source added The notice was issued to online pharmacies including Tata 1mg, Amazon,...
E-rupee worth over Rs 130 crore in circulation: Sitharaman
It is being distributed through financial intermediaries, i.e., banks. Users can transact with e₹-R through a digital wallet offered by the participating banks and stored on mobile phones/devices. Institutional merchants like retail chains, petrol pumps etc. have also...
FDIC, US Fed discuss fund to backstop deposits if more banks fail
Regulators discussed the new special vehicle in conversations with banking executives, according to people familiar with the matter. The hope is that setting up such a vehicle would reassure depositors and help contain any panic, said the people. They asked not to be...
Fallout from SVB collapse spreads around world
This is just the beginning. SVB had branches in China, Denmark, Germany, India, Israel and Sweden, too. Founders are warning that the bank’s failure could wipe out startups around the world without government intervention. SVB’s joint venture in China, SPD Silicon...
ECB to test banks for cyber resilience
The ECB has long been warning banks to be alert for cyberattacks from Russia after the European Union passed a long series of sanctions against Moscow over its invasion of Ukraine. “There has been a significant increase in cyberattacks,” Enria said. “We cannot...
Digital India Act; draft to come in April: Chandrasekhar
Minister of State for Electronics and IT Rajeev Chandrasekhar As part of online safety and trust principle proposed for the Digital India Act (DIA), the minister sought views of stakeholder on mandating stringent regulation for privacy invasive devices such as spy...
Gallagher Re acquires treaty reinsurance broking business of WTW India Insurance Brokers
Vinod Krishnan has been appointed to lead the Gallagher Re business in India with immediate effect It comes as an agreement to acquire the treaty reinsurance broking operations of Willis Towers Watson India Insurance Brokers Private Limited (“WTW India”) was signed,...
Sebi extends timeline until March 15 for comments on ESG rating norms
This came in the wake of growing recognition of the significant economic and financial impact of climate change and environmental, social and governance (ESG) risks In addition, the regulator suggested ESG parameters that could be relevant to Indian context that may...
Money laundering rules to apply to crypto trade – gov’t notification
Extending India's money laundering rules to cryptocurrencies will give authorities greater authority in monitoring the transfer of these assets beyond the country's borders MUMBAI: India's money laundering laws will apply to trade in cryptocurrencies, the federal...
IRDAI promotes Meena Kumari as ED, reshuffles portfolios of a few key CGMs
Anita J,who has been promoted as CGM, has replaced SN Jayasimhan and will be in charge of Department of Intermediaries. Jayasimhan has been shifted to Department of Policy Research. Ramana Rao A, CGM, has succeeded DVS Ramesh, CGM, in Non-life department...