L to R - PK Arora, Member, IRDAI, T Alamelu, Principal Advisor,...
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`IFSCA-IRDAI GIFT IFSC Global Reinsurance Summit’- International reinsurers gather in Mumbai on Monday to brainstorm their India strategies
K Rajaraman,Chairman, International Financial Services Centres...
Burmans’ Religare open offer for additional 26% stake to start on Jan 27
The Burman family -- a promoter of Dabur India and other entities...
DGCA allows Boeing 737 MAX planes to fly
SpiceJet has more than 100 737 MAX planes on order.
Around 175 countries have allowed the 737 MAX to return to service following a safety ban, with 30 airlines already restarting their MAX aircraft services.China is now the only major market where regulators are yet to give the MAX a go-ahead. Boeing earlier this month conducted a test flight of the 737 MAX plane in China.
Finance Ministry exploring insurance bonds as alternative to bank guarantees
“Government is exploring on instituting insurance bonds as alternatives to bank guarantees,” an official statement said.
Bank guarantees are usually asked for while extending a loan and typically require a collateral. An insurance bond is also a surety but it does not require any collateral.
As per reports last year, insurance regulator Irdai was also looking at the option of insurers offering surety bonds in the context of road projects.
RBI extends scope of tokenisation to laptops, wearable devices
Tokenisation, which aims at improving the safety and security of the payment system, refers to the replacement of actual card details with a unique alternate code called the ‘token’, which is unique for a combination of card, token requestor and identified device.
CCI slaps a penalty of Rs 200 cr against Maruti Suzuki India for its anti-competitive conduct
CCI found that MSIL had an agreement with its dealers whereby the dealers were restrained from offering discounts to the customers beyond those prescribed by MSIL
Class action against 9 firms for falling to refund payments during coronavirus pandemic
CCPA was formed in 2020 under the Consumer Protection Act. It has the mandate to regulate matters related to unfair trade practices, consumer rights, and false or misleading advertisements.
Indian companies have been issued instructions to comply with the CCPA orders.
For bank regulators, tech giants are now too big to fail
This time it’s the tech giants including Google, Amazon and Microsoft that host a growing mass of bank, insurance and market operations on their vast cloud internet platforms that are keeping watchdogs awake at night.
RBI Guv pitches for continued policy support to revive growth, monitoring inflation
”The need of the hour is twofold: first, continue the monetary policy support to the economy; and second, remain watchful of any durable inflationary pressures and sustained price momentum in key components so as to bring back the CPI inflation to 4 per cent over a period of time in a non-disruptive manner,” he said.
Karnataka cabinet approves implementation of Mental Healthcare Act for covid
Under the act, a State Mental Health Authority will be set up. A committee under the chairmanship of the Director of the NIMHANS Institute will be constituted for the drafting of guidelines for the authority. The authority will also maintain a registry and publish a list of clinical psychologists, nurses, social workers and health workers in the field of mental health.
The state act is being implemented in tandem with the Central Mental Healthcare Act, 2017.
U.S. employers get religion with vaccine mandates
Google’s parent Alphabet Inc, Walmart Inc, and Tyson Foods Inc are among the growing list of employers requiring some or all staff to get the COVID-19 vaccine.
But with each mandate comes exceptions. Employers have to make reasonable accommodations for staff who cannot be vaccinated for medical reasons or refuse vaccination because of “sincerely held religious beliefs,” according to the U.S. Equal Employment Opportunity Commission (EEOC).
Doctors, public health experts emphasise importance of consumer-friendly food, beverage warning labels
Dr Madhukar Mittal (Additional Professor, Department of Endocrinology, All India Institute of Medical Sciences (AIIMS), Jodhpur) stated that the evidence linking consumption of processed and packaged foods high in salt, sugar and fats – otherwise known as nutrients of concern – to diabetes, heart disease and various forms of cancer is irrefutable.
He further stated that “India is fast emerging as the diabetes capital of the world. Obesity is on the rise. The entire food system must act now to safeguard people’s health. The food industry tends to make its food products more palatable by adding excess sugar or salt. As a result, we are consuming unnatural levels of these harmful ingredients – far exceeding the recommended thresholds.”