Speaking at the ESG Summit organised by the industry body FICCI...
Category:
Risk Management
Latest
Eco Survey: Demographic advantage, responsible approach position India to benefit from AI
Achieving benefits from AI requires significant investments in...
Eco Survey: Lifestyle choices, workplace culture key for mental well-being, productivity
"While promoting a better workplace culture will lead to better...
HSBC toughens stance on fossil fuel funding after shareholder heat
HSBC’s announcement reinforces how the world’s biggest financial firms are bowing to mounting public and political pressure to join the battle against climate change, by reducing their funding of fossil fuel companies and encouraging clients in other sectors to cut emissions.
Greensill, Gupta and the fragile tower of money and metal
The crisis began at Bond & Credit Company, the Sydney unit of insurance giant Tokio Marine Holdings Inc. last summer. It decided not to extend policies covering the loans Greensill made, and has fired a manager who had a key role in signing off on that business. Compounding Greensill’s problems, around the same time, the German regulator BaFin started a probe into his fast-growing bank in Bremen.
BaFin was concerned that too many of the assets of Greensill Bank were tied to the same source: Gupta. The investigation found irregularities, including that the bank had booked claims for transactions by Gupta that hadn’t yet occurred but which were accounted for as if they had. During this slow buildup of pressure, in late 2020 Softbank wrote down its investment in Greensill, though this only came to light in recent weeks.
84% of Indians prefer firms that protect personal data
The survey results come at a time when there is no comprehensive data privacy law in place in the country and India is rapidly going digital.
While a majority (78 per cent) of Indian consumers broadly know how many organisations use, store or have access to their personal data (e.g. email address, contact number, bank details etc.), 22 per cent still “don’t have a clue” about it.
5 hacking groups targeting Microsoft’s email servers
Microsoft said that the company is “working closely with CISA (Cybersecurity and Infrastructure Security Agency), other government agencies, and security companies to ensure we are providing the best possible guidance and mitigation for our customers”.
Russian, Chinese hackers targeted Europe drug regulator
The Amsterdam-based European drug regulator in December reported a cyberattack in which documents relating to COVID-19 vaccines and medicines were stolen and leaked on the internet.
Covid-19 travel insurance becoming a vacation staple
The market for all types of Covid-19 travel coverage is estimated to be between $30 billion to $40 billion a year, according to travel insurance consultant Robyn Ingle, with companies like AXA and AIG underwriting protection.
Airline bookings are on the rise in some regions, driving cautious hopes of a revival in summer traffic, but also raising fears among tourist destinations of getting hit with bills should vacationers become stranded by the virus.
More than a dozen countries from Aruba to Thailand require Covid-19 coverage for visitors, with Jordan the latest to consider such protections, organizers of an emergency services plan told Reuters.
Crisil not sure about strength of credit qualit
Maintaining a cautiously optimistic outlook on credit quality for the near to medium-term, a Crisil director Akshay Chitgopekar said they are watching the normalisation of economic activity, agriculture performance and rural demand, the flow of investments into infrastructure to gauge the level and sustainability of the recovery seen from last October.
A second wave of the pandemic, especially with mutations that undermine the effectiveness of current vaccines, leading to containment measures can derail the ongoing recovery, he warned.
FDA warns against one-dose regimen for coronavirus vaccines: Report
“You would be flying blind to just use one dose,” a senior scientist and adviser to US President Joe Biden told The Wall Street Journal, adding “If you’re going to do something else other than follow the studies shown to the FDA, show me that this one-shot effect is durable.”
Data sharing, cybersecurity top concern areas for banks, customers: Deloitte
Observing that not only banks, but even customers are wary of data sharing, it said, “Cybersecurity and data protection are the top concern areas across all age groups, followed closely by wariness towards third-party access to data and transparency on data usage”.
Over the years, the value of data has reached unprecedented levels.
Junk your old car and get 5% rebate from automakers on new buy: Gadkari
“There are four major components of the policy…Apart from rebate, there are provisions of green taxes and other levies on old polluting vehicles. These will be required to undergo mandatory fitness and pollution tests in automated facilities. For this automated fitness centres would be required through out in the country and we are working in that direction,” Gadkari said.
Automated fitness tests will be set up under public private partnership (PPP) mode while the government will assist private partners and state governments for scrapping centres, he said.