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Eco Survey: Health expenditure grew to Rs 6.1 lakh crore in FY25
“Health is a crucial component of human capital and a valuable...
Economic Survey-Financial regulators need formal impact assessment rules, government
The report suggested that regulators set up an independent...
US govt asks Tesla how Autopilot responds to emergency vehicles
The agency wants to know how Teslas detect a crash scene, including flashing lights, road flares, reflectorized vests worn by responders and vehicles parked on the road.
Madras HC puts order on `bumper-to-bumper cover’ for new vehicles on hold
GI Council had sought certain clarifications as well as time from the Madras HC , pointing out the order cannot be implemented from Spt o1 and it is advisable to hear the various interested parties in the matter and the insurance sector regulator the IRDAI..
Govt examining public comments on draft Consumer Protection (e-commerce) Rules
Ban on fraudulent flash sales and mis-selling, and appointment of chief compliance officer/grievance redressal officer are among key amendments proposed to the Consumer Protection (e-commerce) Rules, 2020, on which the government had sought public comments by July 6.
China market regulator says it will tighten oversight of sharing economy
SAMR said on its website that price hikes in the system built around the sharing of resources were effectively contained due to its oversight.
RBI issues direction on compensation of private banks’ top officials
The RBI issued the clarification saying “it has been observed” that banks do not recognise grants of the share-linked compensation as an expense in their books of account concurrently.
China plans to ban U.S. IPOs for data-heavy tech firms – WSJ
Officials from China’s stock regulator have told some companies and international investors in recent weeks, that the new rules would prohibit internet firms holding a swath of user-related data from listing abroad, according to the report.
China spells out how excessive ‘996’ work culture is illegal
The Supreme People’s Court and Ministry of Human Resources and Social Security published a lengthy essay Friday about labor violations and unreasonable overtime, labeled ‘996’ because of the common practice of working 9 a.m. to 9 p.m., six days a week. It outlined 10 cases — including but not limited to the tech industry — in which employees were forced to work extra hours, or put in harm’s way.
Make ‘bumper-to-bumper’ insurance mandatory : Madras HC
“, this court directs that whenever a new vehicle is sold after September 1, it is mandatory for coverage of bumper to bumper insurance every year, in addition to covering the driver, passengers and owner of the vehicle, for a period of five years. Thereafter, the owner of the vehicle must be cautious in safeguarding the interest of driver, passengers, third parties and himself/ herself, so as to avoid unnecessary liability being foisted on the owner of the vehicle, as beyond five years, as on date there is no provision to extend the bumper to bumper policy, due to its non-availability, said Justice S Vaidyanathan of the Madras High Court.
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.