Earlier, state-owned bank Central bank said it has been declared as...
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Climate, tech risks a threat to inflation targetting, says RBI Dy Gov Patra
Michael Patra, Deputy Governor, RBI Central banks face an...
PM Modi pitches for framing global dos don’ts for ethical use of technology
Prime Minister Narendra Modi Emphasising on ethical use of AI with...
Global accounting body proposes one-year delay to insurance rule
“While it is good that the IASB Board has at last recognised the need to consider improvements and a delay to IFRS 17… one year is simply not enough time to both fix the problems with IFRS 17 and to give insurers enough time to implement the standard properly,” said Olav Jones, deputy director general of Insurance Europe, an industry body.
After Google, Facebook scraps forced arbitration in sexual harassment cases
The technology industry, known for its groundbreaking products as well as its trendsetting office culture, has gone to considerable lengths in recent years to keep work-force disputes out of the court system. Forcing employee complaints into arbitration has become as common as free lunches and shuttle buses to the office.
Insurtech:Number of insurance patents filed jumps 40% in a year
RPC says that insurance patents filed last year were for innovations as diverse as the use of a system that checks whether a self-driving car is operating autonomously and switches between insurance policies automatically, and a mobile app to speed up the claims process for people affected by natural disasters.
India jumps 23 places to 77th in ease of doing business ranking
The report recognises India as one of the top 10 improvers in this year’s assessment, for the second successive time. India is the only large country this year to have achieved such a significant improvement.
An evolving economy needs dynamic regulation, says Arun Jaitley
“I think…now that we are evolving as an economy, where all regulation needs to be relaxed or needs to be altered depending on the ground situation, I think this would be quite useful in the whole process,” he said.
IRDA proposes changes in product designs of life and pension products
Minimum death benefit has been made 7 times for regular premium products and 1.25 times for single premium products for all ages,.Non-linked policies to acquire guaranteed surrender value after 2 years, Revival period extended to 5 years from the current 2 years in respect of non-linked products,In respect of pension products, option for commutation up to 60 pension allowed,
Insurers call for delay in implementing “IFRS 17” rule by 2 yrs to Jan 2023
Nine national and regional insurance industry bodies from Europe, Canada, Korea, New Zealand, Australia and South Africa want the International Accounting Standards Board (IASB) to amend and delay its “IFRS 17” book-keeping rule by two years to January 2023
“Data analytics & security’ have to go together :IRDAI Chief
Irda is also keen on introducing regulations on risk-based capital.A paper to this effect has already been circulated to all the insurers. These companies, who can manage their risks, their need of capital will be less. IRDAI will also focus on risk based supervision afterwards, he said.
IRDAI forms panel to examine if insurers can pay PA claims & Benefit Based Health Policies in installments
According to IRDAI,some general and health insurance companies have proposed payment of claim benefits in installments that will enable the beneficiaries / claimants to receive payments in a series of pre-determined installments.
Banks, telcos may be allowed to use Aadhaar again via legislation: Jaitley
The Supreme Court had last month upheld the Constitutional validity of Aadhaar, the 12-digit biometric-based unique identity number, but restricted its use by private entities like telecom operators for verifying the identity of mobile phone users