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Dinesh Pant resigns as MD of LIC, to join as member, Actuary,IRDAI soon
With Pant's departure, LIC has now vacancies of two managing...
IRDAI plans sweeping reset of insurance distribution, say experts
“The changes would directly affect automobile dealers, OEM-linked...
BRICS finance chiefs urge reform of global development financial institutions
"We continue to have serious concerns with the unilateral imposition of trade and finance-related actions, including the raising of tariffs and non-tariff measures, which distort trade and are inconsistent with World Trade Organisation rules," the finance chiefs'...
NSE IPO Price Band Set: Rs 1,700-1,785; Opens Sep 17
The IPO will be entirely an offer for sale (OFS) of up to 12.64 crore equity shares by existing shareholders including some state owned insurers , compared with 14.9 crore shares planned earlier. The reduction in the OFS size has brought down the overall issue size...
From digital India to intelligent India: Jyotiraditya Scindia outlines vision for trusted digital finance
Union Minister for Communications Jyotiraditya Scindia cited the Financial Fraud Risk Indicator (FFRI), mandated by the Reserve Bank of India, as part of efforts to identify suspicious transactions and strengthen coordination across the banking ecosystem.The system...
RBI Governor advises fintech firms against expanding business by exploiting regulatory gaps
Sanjay Malhotra,Governor, Reserve Bank of India Reserve Bank of India Governor Sanjay Malhotra cautioned companies against adopting a strategy of scaling first and seeking regulatory forgiveness later, saying that firms attempting to outrun regulations could...
SEBI preparing markets for quantum computing risks, post-quantum cryptography: Tuhin Kanta Pandey
Pandey said sufficiently advanced quantum computing could pose a risk to the cryptographic systems currently used to secure digital information. Mumbai: The Securities and Exchange Board of India (SEBI) is preparing the securities market for cybersecurity risks that...
Aviation regulator DGCA orders drug tests for pilots across all airlines
The moves come against the backdrop of the pilot-in-command of an Air India Phuket-Delhi flight, which suddenly lost nearly 300 feet altitude leaving many passengers injured on August 4, testing positive for drug use. New Delhi: Aviation watchdog DGCA has ordered drug...
Ind AS:11 re/insures switch to new accounting system, says IRDAI
The insurers that have been granted forbearance and are scheduled to implement Ind AS from FY 2027-28 are being closely monitored by IRDAI as per their board approved monthly implementation milestones. The IRDAI is engaging with insurers on an ongoing basis, with any...
IRDAI slaps Rs1 cr fine on ICICI Lombard for violating outsourcing norms
The IRDAI passed an order against ICICI Lombard General Insurance after conducting an onsite inspection conducted during September 2019 and subsequent enforcement proceedings. Hyderabad:The IRDAI on Monday, has imposed a monetary penalty of Rs one rore on ICICI...
AI Phuket flight incident: AAIB preliminary report reveals hydraulic failure, Pilot’s positive drug screening
"In view of a non-negative result for psychoactive substances for one of the flight crew, it is recommended that DGCA may take appropriate actions as deemed fit to prevent abuse of psychoactive substances," AAIB said in its interim safety recommendation. New Delhi:...
Nepal Floods Catastrophe:15 non-life insurers report losses of Rs25.87 billion
The scale of the claims is being driven primarily by engineering and construction exposures, highlighting the concentration of insured losses in large infrastructure projects following the August 26 disaster. Kathmandu:Insurance claims arising from the devastating...