The IRDA has also identified Life Insurance Corporation of India,...
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RBI invites applications for recognition of SROs for account aggregator ecosystem
The account aggregator framework facilitates secure and seamless...
Growing role of insurance companies and retail investors in private credit making it vulnerable: BIS report
“The growing role of insurance companies and retail investors, as...
FTX scrambles for funds as regulators take action
FTX's predicament marks a stunning downfall for the 30-year-old crypto executive who was once worth nearly $17 billion. The U.S. securities regulator is investigating FTX.com's handling of customer funds and crypto-lending activities, according to a source with...
Global entities, fund managers keen to invest in India: IFSCA Chairman Srinivas
IInjeti Srinivas,chairman,International Financial Services Centres Authority (IFSCA) "It's a new India, it's powered with technology, it's very aspirational. There is a lot of efficiency, whether it is start-ups or in the fintech areas," , Chairman of the...
Irdai proposes allowing insurers to invest in unlisted companies
IRDAI has sent a proposal to the government to allow buying a more than 10% stake in unlisted firms by insurers, using over 10% of the monies lying in their shareholders fund, policyholders fund, or funds maintained by a reinsurance company, according to the two...
COP27: Regulators plan closer scrutiny of carbon markets
The International Organization of Securities Commissions (IOSCO), which groups securities regulators from across the world, made recommendations to improve ‘compliance’ carbon markets, and asked whether regulators should be more involved in ‘voluntary’ carbon...
‘IRDAI in talks with govt to relax Rs 100-cr entry capital for insurers’
Debasish Panda, Chairman,IRDAI "Like in the banking system, we have microfinance institutions, regional banks, and small finance banks. So, we have all categories of banks then there are non-banking financial companies. In the insurance sector also, we should have...
CCPA levies Rs 1 lakh fine on Cloudtail for selling pressure cookers on Amazon in violation of BIS standards
''The company was also directed to pay a penalty of Rs 1,00,000 for selling domestic pressure cookers to consumers in violation of mandatory standards prescribed under the QCO and violating the rights of consumers,'' the statement said The CCPA initiated suo-moto...
IRDAI nixes Fairfax move raising its stake to 74% in Go Digit, deal would make company richer by $375 million
Prem Watsa, Chairman and Chief Executive Officer, Fairfax Fairfax currently owns 45. 3% in Go Digi Infoworks, which has 83% stake in the Go Digit General Insurance company. In June 2022, Digit Insurance and Fairfax had applied to the IRDAI for approval to convert the...
Govt mapping laboratories to plug critical gaps: Goyal
The government has issued 450-odd quality control orders and asked BIS along with the commerce ministry to set up a crack team to do a complete study on quality standards New Delhi: The government is mapping all laboratories in the country in a bid to plug the...
Grievance Appellate Committee contours in 10-12 days; panel to be in place by Nov 30: Rajeev Chandrasekhar
Rajeev Chandrasekhar,Union IT minister The minister asserted that compliance of IT rules and laws is not ''pick and choose'' or ''cherry picking'' option for social media platforms, and made it clear that the government will not be a mute spectator to tussle between...
Banking penetration increased significantly during 1972-2022 period: RBI Deputy Governor
Michael Debabrata Patra,Deputy Governor, Reserve Bank of India There is one commercial bank branch for every 9,000 citizens now from one branch for 40,000 citizens in 1972. Banks today operate around 2.25 lakh customer service points, including over 1.75 lakh ATMs. In...