In a regulatory filing, REL posted a letter written by Danny...
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Govt reviewing crypto position due to global changes, senior official says
"More than one or two jurisdictions have changed their stance...
Sebi mulls safe UPI payment mechanism for registered market intermediaries
This initiative will enable investors to verify the authenticity of...
Sebi approves stricter independent dir norms, measures to attract more investors into mkt
Under the proposed changes, a listed company will be required to disclose the resignation letter of an independent director and there will be a one-year cooling period for an independent director transitioning to a whole-time director in the same company/ holding/ subsidiary/ associate company or any company belonging to the promoter group.
The new norms will be effective from January 1, 2022.
Allow life insurers to play bigger role in healthcare ecosystem, Deepak Parekh urges Irdai
‘While we continue to invest to enhance our technological capabilities, I feel that the time is right for the regulator (Irdai) to allow life insurers in India to evolve further and be the disruptor rather than the disrupted,’ HDFC Life Chairman Deepak S Parekh said.
Govt to refresh IT Act, but initial focus on PDP Bill: IT Secretary
Ministry of Electronics and IT (Meity) Secretary Ajay Prakash Sawhney, however said the government’s immediate focus is on putting in place the Personal Data Protection (PDP) Bill.
RBI prescribes qualifications for MDs, WTDs of urban cooperative banks
it has been decided that all UCBs having asset size of Rs 5,000 crore or above, shall appoint a Chief Risk Officer (CRO). The Board must clearly define the CRO’s role and responsibilities and ensure that he/she functions independently,” the circular said. The CRO should have direct reporting lines to MD/CEO or Board or the Risk Management Committee of the Board (RMC), it added.
Insurers pay Rs18,600 crore for settling 15.40 lakh Covid-19 claims :IRDAI
“Over 19.11 lakh covid health claims have been reported as on 22nd June as far as medical insurance or hospitalisation is concerned. While in terms of death claims, which is handled by the life insurers, about 55,276 claims have been intimated and nearly 88 per cent i.e., 48,484 claims amounting to Rs 3,593 crore have already been settled,” informed while inaugurating 13th Global Insurance E-Summit & Awards organised by ASSOCHAM.
She added that the repudiated claim for health is just about 4 per cent and in life it is just about 0.66 per cent, which is negligible.
India’s antitrust watchdog orders probe into Google in smart TVs suit
The case will be Google’s third ongoing antitrust investigation in India, where it faces a probe into its payments app and Android mobile operating system. Reuters reported last week that an investigation into the smart TV case was likely soon.
HC refuses to stay CCI notice to Facebook, WhatsApp in privacy policy matter
The case relates to the appeals of Facebook and WhatsApp against a single judge order dismissing their pleas against the probe CCI ordered into the instant messaging app’s new privacy policy.
UK financial sector urges caution over any ‘work from home’ law
“This is going to evolve, clearly, and that’s why legislation would be inappropriate,” Bruce Carnegie-Brown, chairman of the Lloyd’s of London insurance market, told City & Financial’s City Week event.
“We have to allow different sectors of the economy to adapt in different ways to address this opportunity, frankly, for a more mixed economy of remote and physical work. The return to the office should be treated carefully so those working from home did not feel excluded.” Carnegie-Brown said
Govt not to seek disclosure of flash sales from etailers; to act on consumer complaints
Discount sales that benefit maximum to consumers will continue, but not fraudulent flash sales on the e-commerce platforms, the government said, adding that the etailers need not be “anxious” about the draft rules.
Ban on fraudulent flash sales, 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 has sought public comments by July 6.
Doctors protest in Delhi over violence against healthcare professionals; seek legislation
”There are many central health laws such as the PCPNDT Act and the Clinical Establishment Act. Currently, 21 states have local laws, but what we need is a strong central law to protect doctors from violence,” the doctors’ body had said.
The Health Services Personnel and Clinical Establishment (Prohibition of Violence and Damage to Property) Bill, 2019, which sought to impose a jail term up to 10 years for assaulting on-duty doctors and other healthcare professionals, was dismissed by the Home Ministry saying the special law was not feasible as health is a state subject, the IMA had said on Thursday.