A bench of Justices Abhay S Oka and Ujjal Bhuyan said state...
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Regulations should not create unintended barriers for financial inclusion: RBI Guv
``India has made substantial progress on financial inclusion with...
S&P cuts India’s FY26 GDP growth forecast to 6.5 pc
"The Reserve Bank of India will cut interest rates by another 75...
Most agricultural funding distorts prices, harms environment: UN report
UN: Around 87% of the $540 billion in total annual government support given worldwide to agricultural producers includes measures that are price distorting and that can be harmful to nature and health. That is the main finding of a new UN report calling for...
India reported 11.8% rise in cyber crime in 2020; 578 incidents of ‘fake news on social media’: NCRB Data
In terms of motive, the maximum 60.2 per cent cyber crimes lodged in 2020 were done for fraud (30,142 out of 50,035 cases), the NCRB, which functions under the Ministry of Home Affairs, stated.
India top source of social media misinformation on COVID-19: Study
The study, “Prevalence and Source Analysis of COVID-19 Misinformation in 138 Countries”, was published in Sage’s International Federation of Library Associations and Institutions journal.
“Social media (84.94 per cent) produces the largest amount of misinformation, and the internet (90.5 per cent) as a whole is responsible for most of the COVID-19 misinformation. Moreover, Facebook alone produces 66.87 per cent of the misinformation among all social media platforms,” it stated.
Earlier, the World Health Organisation had also warned that false information on COVID-19 is spreading and putting people in danger.
To reduce air pollution in Delhi-NCR, Centre releases Rs 496 crore for in-situ management of crop residue
Addressing the media here, Sanjay Agarwal, Secretary of Union Ministry of Agriculture informed that the Centre released Rs 496 crore for four state–Delhi, Uttar Pradesh, Haryana, and Punjab to subsidize machinery required in-situ management of crop residue during 2021-22.
Australian media outlets liable for Facebook comments, court finds
“The acts of the (media companies) in facilitating, encouraging and thereby assisting the posting of comments by the third-party Facebook users rendered them publishers of those comments,” Justice Rothman found.
At the time the comments were published, Facebook did not allow page moderators to turn off comments on posts, however it has changed that.
IRDAI’s move to risk policyholder’s data privacy, create data monopoly: Experts
While it is understandable that insurers have to share policyholder information with authorities/agencies specified by law or due to operation of law, experts question the need to share the same with IIB.
“Insurers can share the generic data relating to premium, claims — genuine and fraud — and other commercial aspects with IIB so that it can prepare its analytical reports for the industry to use. But why should policyholder information be shared with IIB,” wonders an industry official preferring anonymity.
9/11: Specter of terrorism risk still hangs over re/insurance industry
The attacks also generated the insurance industry’s biggest-ever man-made loss — $47 billion in 2019 dollars, according to the Insurance Information Institute — and triggered changes that are still visible in the industry.
The attack affected multiple lines of business at once, creating “a shock to the system,” according to David Priebe, chairman of Marsh & McLennan Cos. Inc.-owned reinsurance broker Guy Carpenter.
Before the attacks, business line exposures were managed separately, Priebe said. The lessons that Sept. 11, 2001, taught the industry about risk correlation and aggregation across lines has made the industry “a far more disciplined and resilient business,” he said in an interview.
Large claims push up Cyber premiums by 39% for all European industries: Marsh
Malicious cyber events accounted for 80% of cyber claims made in Continental Europe last year, up from 70% in 2019,according to a report published by Marsh, the world’s largest insurance broker and risk advisor, in collaboration with Microsoft, international law firm CMS, and Kivu, a global cyber security firm,
Ransomware attacks accounted for 32% of cyber claims in 2020 – more than double that recorded for 2016-2020 (14%). Overall, cyber insurance claims across Continental Europe rose by 8% in 2020.
SpiceJet settles with Boeing MAX aircraft lessor CDB Aviation
In August, India’s air safety regulator, the Directorate General of Civil Aviation, said it cleared 737 MAX aircraft to fly with immediate effect, after nearly two-and-a-half years of regulatory grounding.
SpiceJet said in August it expected the grounded 737 MAX jets in its fleet to return to service at the end of September after a settlement with lessor Avolon on leases of the aircraft.
RBI cautions against frauds in the name of KYC updation
The central bank has been receiving complaints about customers falling prey to frauds being perpetrated in the name of KYC updation. The usual modus operandi in such cases include receipt of unsolicited communication, like calls, SMSs and emails by customer urging him/her to share certain personal details, account/login details/card information, PIN and OTP or install some unauthorised/unverified application for KYC updation using a link provided in the communication.