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EU body’s advice on toxin limit in baby formula prompts more recalls
Cereulide, a toxin that can cause nausea and vomiting, has been...
Air India checking fuel switches on its Boeing Dreamliners, memo says
The checks have not unearthed any issues so far and will not...
CCI admits ADIF complaint against Google over AdTech dominance charges orders wider probe
In its complaint, ADIF alleged that Google, through its multiple group entities, has engaged in anti-competitive conduct by self-preferencing its own services in the AdTech ecosystem, including tying and bundling of its publisher ad server (DFP) with its ad exchange...
15 more banks to implement RBI’s MuleHunter in next 2 months
MuleHunter is based on artificial intelligence and machine learning-based algorithms, and being given free to banks for now, Suvendu Pati, a chief general manager,RBI Mumbai: At least 15 more banks are set to implement the RBI-developed MuleHunter platform over the...
Oriental Insurance puts Dubai operations under run off
``The OIC board has approved the decision and we have written to the Central Bank of the UAE that our Dubai office will be placed under run off operations with effective from midnight of 7th August. We will honour all our liabilities and commitments to all our...
Govt appoints merchant bankers legal firms for managing stake sales in LIC, PSBs other fin institutions
"As far as LIC is concerned, we have completed the RFP process. The process for appointment of merchant bankers and legal advisors has been completed," DIPAM) Secretary Arunish Chawla said The government needs to offload another 6.5 per cent stake in the public sector...
Former finance secy Ajay Seth takes over as new chairman of IRDAI
Some of the other issues, which will be matter of focus for Seth, is falling insurance penetration in the country and unaffordability of insurance premium, particularly health insurance, about which of late the government has been vocal about. Hyderabad: Former...
Insurance brokers should maintain high governance standards and business ethics: IRDAI member
Girija Subramaniam, CMD, New India Assurance Rakesh Jain, CEO, Reliance General Insurance,Satyajit Tripathy, member, Distribution, IRDAI , Naveen Chandra Jha, MD & CEO, SBI General Insurance, Abhilash Sridharan, Partner, McKinsey & Company at a panel...
IRDAI imposes a stiff penalty of Rs 3.39 crore on Star Health for violating cyber security laws
A significant data leak from Star Health Insurance was reported in Aug, 2024, affecting approximately 3.1 crore customer records. The data, including mobile numbers, PAN details, addresses, and medical information, was allegedly accessible through a website created by...
Former finance secy Ajay Seth appointed as new IRDAI chairman for 3 yrs
Ajay Seth, Chairman-designate, IRDAI Seth, a 1987-batch Indian Administrative Service(IAS) officer from the Karnataka cadre, retired in June end New Delhi: Finally, Ajay Seth, 60, former Finance Secretary, Ministry of Finance, has been appointed as the new chairman of...
Angel one forms Rs 400 crore life insurance JV with Singapore’s Livwell
Wilf Blackburn, ex-regional CEO of Prudential Asia, is proposed to chair the proposed venture, while Nikhil Verma, former deputy CEO of Aviva Vietnam, is proposed to lead as CEO Mumbai: Domestic brokerage Angel One on Wednesday announced a plan to partner Singapore's...
Irdai proposes internal ombudsman for insurers to address claims up to Rs 50 lakh
"Applicable to all insurers (except reinsurers) with more than three years of operations, the framework mandates the appointment of an internal insurance ombudsman to address complaints involving claims up to Rs 50 lakh," it said. New Delhi: Irdai on Wednesday...