RBI marginally raised the growth forecast to 6.7 per cent while...
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Govt paves way for return of merchant fees on digital payments
An amendment to India's Payment and Settlement Systems Act, tabled...
SC extends mandatory TP vehicle insurance period by one yr, asks IRDA to implement it immediately
The Supreme Court directed third-party insurance period for new...
AI London flight: DGCA directs 787 plane’s fuel switch inspection in presence of its officers
On February 2, an Air India pilot reported a defect with the fuel control switch of the Boeing 787-8 plane VT-ANX after operating the AI132 flight. The plane faced a fuel control switch issue during engine start in London on February 1. New Delhi:A detailed...
AAIB proposes framework for aviation safety
In the report, AAIB said no formalised mechanism for the exchange of safety-related information exists between defence authorities, especially the Indian Airforce, Indian Navy, and Indian Army, with AAIB and DGCA. New Delhi:Aircraft Accident Investigation Bureau...
SEBI working on framework for AI-based trading amid growing cyber threats: Tuhin Kanta Pandey
Tuhin Kanta Pandey,chairman, Sebi "For AI-driven trading, we are actually going for guidelines on that. On how AIs will, in future, do that. Now AI has an opportunity as well as a risk. The opportunity is that you can use the AI for several of your things which can be...
Liberty Mutual increases stake in Liberty General Insurance to 74% in India
Matthew Jackson, president, Liberty International Insurance APAC, said, “India remains an important market for Liberty Mutual as we build our business across Asia Pacific, supported by strong fundamentals and significant opportunity for growth. Increasing our...
UK’s Prudential buys 75% in Bharti Life Insurance for Rs 3,500 crore, to reduce stake in ICICI Pru Life to below 10% from 22%
Anil Wadhwani, CEO, Prudential There is potential additional consideration payable of up to ₹700 crore ($78 million) by Prudential in Bharti Life deal, dependent on the fulfilment of certain conditions. Anil Wadhwani, CEO, Prudential, said, “India is a strategically...
IRDAI gets ready to implement Risk Based Capital norms for insurers,to publish draft regulations soon
The IRDAI's board in its recent meeting had deliberated the issue and approved drafting and publishing the draft regulations on the proposed Indian Risk Based Capital Framework for stakeholder consultation.The issues which need to be addressed before launching RBC in...
IRDAI to intensify monitoring of insurance industry’s performance:Ajay Seth
Ajay Seth, chairman, IRDAI Seth highlighted that in non-life Insurance sector, persistent rise in complaints signals systemic service issues.Health and motor claims are key drivers, highlighting growing policyholder friction and the need for targeted corrective...
Regulators discuss ways to enhance financial sector resilience amid geopolitical frictions
Sanjay Malhotra,Governor,Reserve Bank of India "The FSDC-SC reaffirmed its commitment to enhancing financial sector resiliencethrough inter-regulatory coordination; and keeping a close watch on emerging challenges, including those from heightened geopolitical...
I4C signs MoU with RBI Innovation Hub to use AI for detecting mule accounts, tackling cyber fraud
Union Home Minister Amit Shah said the agreement is part of the government's efforts to improve cyber security infrastructure and build stronger safeguards for citizens against online fraud. New Delhi:The Indian Cyber Crime Coordination Centre (I4C) under the Ministry...
CDSCO mandates safety reporting from new drug launch
In an advisory issued by the Central Drugs Standard Control Organisation (CDSCO) on April 21, the regulator said it has observed instances where companies obtained approval for a new drug but launched the product in the market much later while submitting Periodic...