Companies failing to comply with the AI Act will face fines of 35...
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Chinese cyber association calls for review of Intel products sold in China
The industry group goes on to state that operating systems embedded...
Home Ministry seeks reports on series of bomb hoax calls to airlines
In the last 48 hours, atleast 13 bomb threats have been received by...
Boeing hid design flaws in 737 Max from pilots, regulators: US panel
“The Max crashes were not the result of a singular failure, technical mistake or mismanaged event,” the report by the House Transportation and Infrastructure Committee said.
“They were the horrific culmination of a series of faulty technical assumptions by Boeing’s engineers, a lack of transparency on the part of Boeing’s management and grossly insufficient oversight by the” Federal Aviation Administration.
Energy transition to have transformative effect on Mining sector:WTW
Environmental Social Governance forms the key theme of the report, highlighting that the transition to a low carbon economy requires a fundamental reappraisal of mining company climate risk
IRDA to unveil standard Term Policy and covers for MSME and small dwellings soon:Khuntia
The guidelines regarding the standard products for term plans, dwelling and MSMEs will be rolled out soon by the regulator, said Subhash C Khuntia, chairman Irdai, while addressing CIIs 22nd Insurance and Pension Summit on Thursday.
The segment regulator is also looking to introduce the risk-based solvency for the insurance companies in next three years.
The regulator also believes that negative growth seen in the new premiums for insurance industry since March, will improve in the months to come.
GIC Re to manage Rs 75k cr Pandemic Pool,mandatory cover & parametric claim payment:IRDA Panel
Pandemic pool,with public-private-government participation, to cater 4 crore MSME workers,around Rs2000 crores of capacity expected from the industry and a substantial capacity coming from government in the form of backstop. Multiple trigger mechanism will be set separately for an epidemic and a pandemic event.Participation will be mandatory for the sectors which have been covered under the pool. This can be provided as a Standalone Product coverage for the event or as an add-on with the existing products.
“We are now putting the report on the formation of Pandemic Pool for the public feed-back and will soon set up the Pool,” said SC Khuntia, chiarman, IRDAI..
SWIFT announces a new strategy for instant, frictionless payments and securities processing
Mumbai: SWIFT, one of the largest financial messaging systems in the world,today announced that over the next two years and beyond it will fundamentally transform payments and securities processing, retooling cross-border infrastructure as part of a...
RBI chief says India’s recovery not entrenched, will only be gradual
“High frequency indicators of agricultural activity, the purchasing managers index and certain private estimates on unemployment point to some stabilisation of economic activity in the second quarter of the current year,” Das told members of the Federation of Indian Chambers of Commerce & Industry’s national executive committee.
China’s Anbang Insurance Group to apply to disband, liquidate
After the Anbang take-over, China has tightened regulations on the country’s financial holdings companies to defuse risks accumulated by a group of non-financial firms that it says expanded blindly into the financial sector.
On Sunday, the People’s Bank of China (PBOC) issued related new rules, setting requirements on registered capital, total assets, and assets under management on eligible financial holdings firms.
Parliament passes bill to give statutory status to aviation regulators
The Bill also proposes to increase the fine amount for violations of new rules from Rs 10 lakh to Rs 1 crore.
Flyers can take videos in flights but can’t use recording gadgets: DGCA
New Delhi: Aviation regulator DGCA "clarified" on Sunday passengers can take photos and videos inside flights but can't use any recording equipment that creates chaos, disrupts flight operations, violates safety norms or is banned by the crew...
NGT directs CPCB to recover fine from Amazon, Flipkart for excessive plastic packaging
“The CPCB can also consider ordering environmental audit against the concerned entities and assess and recover compensation for violation of environmental norms, following due process of law,” the bench said.