The FDI limit being raised from 74% to 100% will prove to be a...
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Union Budget 2025-26: Reshaping Indian insurance landscape
Tapan Singhel, MD&CEO, Bajaj General Insurance& Chairman,...
Sebi member expresses concerns over misleading disclosures related to ESG metrics
Speaking at the ESG Summit organised by the industry body FICCI...
IRDA revamps trade credit insurance norms, SMEs and project finance to benefit
Some of new kind of covers that will now available in India are:
“Project Cover”- insurance of receivables, against non-payment by the principal or buyer, provided to a contractor engaged in but not limited to long term infrastructure, civil and industrial projects and services. The project period should be more than six months.
“Protracted Default”- failure by a buyer to pay the contractual debt within a predefined period calculated from the due date of the debt.
“Reverse Factoring arrangement” where any arrangement in whatever name or form, between a borrower and a financer, wherein a borrower receives or is supposed to receive finance, either directly or indirectly, for borrower’s purchase of trade receivables, goods or services
HDFC Life seeks shareholders approval to share issue to Exide Industries
Last Friday, HDFC Life announced the deal to acquire 100 per cent stake, representing 185 crore shares in Exide Life by way of cash and preference issue of shares to Exide Industries.
LIC deploys IDBI Intech’s Anti Money Laundering solution
IDBI Intech has made steady investments in the latest industry solutions for the BFSI sector, with cutting-edge technology, customer satisfaction and market demands as top priorities. The next generation technologies currently being leveraged include Blockchain, Cybersecurity, Artificial Intelligence and Machine Learning.
Cos can incorporate rewards, incentives to achieve ESG goals
According to Willis Towers Watson’s Global Executive Compensation Trends, ESG has become a critical business consideration, impacting companies’ cost of, and access to, capital. ESG goals and outcomes directly impact the company’s reputation with the public and employees, and often play a role in attracting and retaining a new generation of talent.
Companies with strong ESG practices have been found to deliver more sustainable returns, including higher levels of value creation and risk mitigation.
Sebi bans 85 entities from capital mkts for fraudulent trading
The investigation was conducted to ascertain whether there was any violation of the provisions of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices ) Regulations by certain entities while trading.
In its probe, Sebi found that pursuant to allotment of shares under the scheme of amalgamation, Sunrise Asian and its then directors had devised an arrangement whereby 83 connected entities had manipulated the price of the scrip in four patches of trading during the investigation period, thereby violating PFUTP norms.
FSSAI asks e-tailers to delist non-dairy products claiming as dairy items
”Since a lot of such products are sold through e-commerce Food Business Operators (FBOs), FSSAI has instructed all e-commerce platforms to delist such products, which are reported to be in contravention to the regulatory provisions related to the application of dairy ‘terms’ from their online platforms, immediately,” it said.
The FSSAI has further directed that no such defaulting products listed on the online platforms are allowed for sale in the future as well.
FSDC asks regulators to keep constant vigil on financial sector
It also discussed issues relating to management of stressed assets, strengthening institutional mechanism for financial stability analysis, framework for resolution of financial institutions and issues related to IBC, banks’ exposure to various sectors and government, data sharing mechanisms of government authorities, internationalisation of Indian rupee and pension sector related issues.
German companies not allowed to check on employees’ vaccine status
But Germany has strict data privacy laws because of its history of Nazi and Communist state surveillance of citizens, meaning that companies have no right to find out about health issues relating to their staff.
German businesses have been pushing to be able to ask staff about vaccination and the government is trying to get more people to get the shots as infections rise again. Almost 61% of the population has had both shots and 65% at least one.
WhatsApp fined $266 mn by Irish regulator over data transparency breaches
Under the three-year-old GDPR law, authorities have powers to fine companies as much as 4% of their annual sales. The rules put watchdogs based in a company’s chosen EU hub in charge of supervising them. But the Irish regulator, which has at least 28 privacy probes open targeting tech giants such as Apple Inc. and Alphabet Inc.’s Google, has faced mounting criticism for taking too long to wrap up its cases.
Ping An Insurance denies regulator halted sales of alternative investments
The nation’s largest insurer by market value is facing a setback after impairments related to troubled property developer China Fortune Land Development Co. wiped 20.8 billion yuan ($3.2 billion) from profit in the first half. The company on Friday had signaled the worst of the hit may be over and it may even claw back some of the losses this year if the debt situation of the developer improves.