Underlining the need to spread awareness about safe migration, the...
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Corporate ‘Irritation’ over ESG fueled by significant costs
There’s evidence to suggest that fund managers devoting lots of...
GST Council to soon take decision on rates, number of slabs: FM Sitharaman
"For me, it was also important that we don't lose an opportunity,...
PK Arora assumes charge as IRDA’s member, Actuary
Arora had joined LIC in 1986 and he has 35 years of experience of working in various departments in different capacities.
IRDAI unveils mandatory standard detariffed products for dwellings, micro and small enterprises
The new products can be sold by the general insurers from 1st April, 2021
IRDAI has now issued guidelines whereby the Standard Fire and Special Perils (SFSP) Policy provided for in the AIFT 2001 will be replaced by the standard products that will be mandatorily offered by all general insurers carrying on Fire and allied perils insurance business with effect from 1st April, 2021.
RBI comes up with Digital Payments Index
The RBI-DPI comprises of five broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods.
The parameters are payment enablers (weight 25 per cent), payment infrastructure–demand-side factors (10 per cent), payment infrastructure – supply-side factors (15 per cent), payment performance (45 per cent) and consumer centricity (5 per cent).
BBB to interview 5 candidates on Jan 4 to select CMD of Oriental Insurance Company
The shortlisted candidates who will be appearing for the interview for OIC CMD post are – Anjan Dey, director and general manager, GIC Re, Shobha G. Reddy, general manager,National Insurance Company(NIC), M. Bhaskar, general manager GIC Re, Suchita Gupta, GM, GIC Re, Surya Swaroop Saxena, GM, Agriculture Insurance Company of India.
IFSCA becomes member of International Organization of Securities Commissions
The membership of IOSCO would provide IFSCA the platform to exchange information at the global level and regional level on areas of common interests.
Brexit ends Britons’ right to live and work in EU
Under the divorce deal agreed by the two sides on Dec. 24, the roughly 1 million British citizens who are legal residents in the EU will have broadly the same rights as they have now. The same applies to more than 3 million EU citizens living in the U.K.
But British citizens will no longer have the automatic right to live and work in the EU, and vice versa. People who want to cross the border to settle will have to follow immigration rules and face other red tape such as ensuring their qualifications are recognized.
2021 will witness lot of regulatory efforts channelled towards virtual assets: SBI official
” The use of crowdfunding websites, although not entirely new, create an additional risk as these are specially designed to solicit funding and can be misused for terror financing,” he said.
Varma also noted that crypto currencies and its potential means to finance terrorism is a significant threat especially when is anonymous in nature.
Factbox-Brexit and the City of London: what changes and when
For now, no. London still has a towering lead over rivals Frankfurt, Milan and Paris when it comes to trading stocks, currencies and derivatives and playing host to asset managers.
Financial firms say shifting more capital out of London than is necessary under Brexit would cause unnecessary and costly market fragmentation.
But in the longer term, if the EU takes a tough line on equivalence and its financial centers reach a critical mass in trading key asset classes, the attractions of London as a financial hub would diminish.
Govt extends validity of vehicle documents like DL, RC, permits till Mar 31
“The Union Ministry of Road Transport and Highways has extended the validity of vehicular documents like DLs, RCs, permits etc till March 31, 2021 in the light of need to prevent spread of COVID-19. Ministry has today issued a directory to the states and Union Territory administrations in the regard,” a MoRTH statement said.
Earlier through various notifications, it was advised that the validity of fitness, permit (all types), licence, registration or any other concerned document(s) may be treated to be valid till December 31, 2020.
Brexit offers Britain chance to do financial services differently -minister
Under a system known as equivalence, access to EU markets will not be granted to banks, insurers and other financial firms based in Britain unless their home rules are deemed by Brussels to be “equivalent”, or as robust as regulations in the bloc.
The two sides will aim to agree a memorandum of understanding on regulatory cooperation in financial services by March 2021, and Sunak said that such language should provide reassurance.