Sanjay Malhotra Governor, Reserve Bank of India "As we have to be...
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Sebi bans finfluencer, firm from securities market, orders Rs 9.5 cr disgorgement for unlawful advisory biz
In its final order, Sebi noted that Ravindra Bharti Education...
Star Health takes steps after data breach: MD
"In a world, where there is so much inter-connectivity, when you...
IRDAI forms panel to explore possibility of an “Indian Pandemic Risk Pool”, to address BI risks arising out of a Pandemic event
There is a need to examine long-term solutions to address the various risks which have been triggered by the current pandemic and offer protection in case of a future similar crisis.Some of the risks like Business Interruption losses without concurrent material damage loss,loss of employment would result in huge losses much beyond the capacity of government /insurers /reinsurers, said IRDAI.
The panel will examine the the need for setting up a Pandemic Risk Pool giving rationale for the same,recommend the structure and operating model for the Pool within eight weeks. .
Insurers can now offer mandatory Arogya Sanjeevani Policy without Rs 5 lakh cap in sum assured: IRDAI
Hyderabad:: The insurance regulator IRDAI has now allowed the general and health insurers to offer mandatory,“Arogya Sanjeevani Policy” for a minimum sum insured of less than Rs.1 lakh and maximum sum assured of above Rs 5 lakhs . According to the...
BOCI writes to IRDAI for extension of vehicle insurance validity
Owners pay about Rs 1 lakh per year towards insurance premium for a bus, and for premium buses it might go up to Rs 2 lakh, he added.
The vehicles have been grounded since lockdown, therefore third-party damage is ruled out. Since a major part of the premium amount is paid towards third-party damage, the insurance companies should increase validity equal to the number of lockdown days, BOCI said.
UK watchdog ask Big Four accountants to ring fence audit by June 2024
Audit practice culture should encourage ethical behavior, openness, teamwork, challenge and professional skepticism and judgment, it said.
Govt appoints Injeti Srinivas as IFSC Authority’s first chairman
Gujarat-headquartered IFSCA will regulate all financial services in international financial services centres (IFSCs) in Gandhinagar.
EU calls British financial market proposals ‘unacceptable’
London and Brussels have an end of June deadline for completing “equivalence” assessments for determining access to each other’s financial markets.
AXA XL receives green light for first Shanghai domiciled reinsurer
With a strong S&P A+ financial strength rating, AXA XL Re China will be the first reinsurance subsidiary domiciled in Shanghai and the first foreign-owned reinsurance subsidiary in China. It will provide non-life reinsurance in China.
Lloyd’s calls for state-backed ‘Black Swan’ reinsurance
The Black Swan cover could be used to ensure payments after catastrophes such as a cyber attack or solar storm destroying critical infrastructure, as well as for pandemics, Lloyd’s said in a report published on Wednesday.
“Our concern is you solve for pandemic and you don’t solve for the next disaster,” Lloyd’s Chief Executive John Neal told Reuters.
Mild to medium colour blind people can now obtain driving licence
The Ministry of Road Transport and Highways has been taking many measures to enable ”divyangjan” citizens to avail transport-related services and especially relating to the obtaining of the driving licence, it said.
Can’t expect poor patients to give proof for free treatment: Bombay HC
The court on Friday was hearing a plea filed by seven residents of a slum rehabilitation building in Bandra, who had been charged Rs 12.5 lakh by K J Somaiya Hospital for COVID-19 treatment between April 11 and April 28.
The bench of Justices Ramesh Dhanuka and Madhav Jamdar directed the hospital to deposit Rs 10 lakh in the court.
The petitioners had borrowed money and managed to pay Rs 10 lakh out of Rs 12.5 lakh that the hospital had demanded, after threatening to halt their discharge if they failed to clear the bill, counsel Vivek Shukla informed the court.