“We are deeply concerned that there is a virtual absence of safe...
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Risk Management
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Government, Banks, regulators and security agencies need to collaborate to check cyber security for banking industry
L to R- Vivek Joshi, secretary, Department of Financial Services,...
Indian port workers call for strike over pay and pension demands
Around 20,000 workers are part of the group of port workers'...
Relief to e-wallets: RBI extends KYC compliance norms by six months
“Based on requests received from various stakeholders to increase the above timeline on account of difficulties in undertaking Aadhaar e-KYC and time necessary to put in place alternative systems for completing the KYC process, it has been decided to allow PPI issuers additional time of six months for completion of the KYC process,” the RBI said in a statement.
Anthem, Cigna in court battles over failed merger
Cigna, which would have been acquired by Anthem, says it’s the injured party and is demanding about $15 billion. Anthem, which runs Blue Cross and Blue Shield plans in more than a dozen states, insists it’s owed $20 billion because Cigna dragged its feet to sabotage the deal.
NASA warns SpaceX, Boeing on Space Program safety concerns
Some of the risks – such as those identified in the designs of the enormous parachutes that deploy when the capsule plummets back to Earth at supersonic speeds – are uncommon given how close SpaceX is to test flights, two of the people said.
AI and Risk Management
Key Takeaways
• Understanding the debate about the impacts of Artificial General Intelligence (AGI) is good but your organization is more likely to intersect AI in a narrow application. Understand the role that the volume and quality of data will play in your implementation. Be clear about responsibilities and obligations of data stewardship.
• Introduction of AI is enabling the successful achievement of corporate objectives. Consider AI as a driver or amplifier of existing risks already on your radar.
• Change is inevitable. Your career will change, and you need to participate in that evolution. Opportunities exist for those who can apply the principles of continuous learning
Regulatory cost weighs on India’s CEOs as Modi fights corruption
Modi aims to take India into the top 50 countries in terms of ease of doing business. India climbed 23 places to 77 among 190 countries surveyed in the World Bank’s Ease of Doing Business 2019 rankings.
China Abandons Pledge, Returns to Very Active Hacking of U.S, Report Says
China’s hacking targets in 2018 included telecommunications systems in the U.S. and Asia, according to Crowdstrike. Groups linked to Iran and Russia also appeared to target telecommunications, a sector that yields “the most bang for your buck” for hackers due to the large number of users that can be accessed after breaching a single network, Adam Meyers, vice president of intelligence at Crowdstrike said.
How pricing insurance for cars of future could bring Insurers, Carmakers together
On Jan. 30, Peate announced the creation of Avinew, with $5 million in seed funding led by Los Angeles’ Crosscut Ventures. Its insurance product will monitor drivers’ use of autonomous features on cars made by companies including Tesla, Nissan, Ford and Cadillac, determining discounts based on how the feature is used. Avinew has agreements with most manufacturers, and is working to tie up the rest, Peate said, allowing it to access driving data once a customer gives it permission.
SC holds Anil Ambani guilty in Ericsson’s contempt case, to be jailed if fails to pay Rs 453 cr
“Unconditional apology by Reliance can’t be accepted given the attitude of the deponent to the highest court of the land. Three Reliance companies had no intention of payment of money, it amounts to contempt,” SC said.
Indians grossly underprepared to face the financial instability caused by eventualities: Max Life Survey
Prashant Tripathy, Managing Director and CEO, Max Life Insurance said: “The survey reveals some interesting and startling findings about the state of protection in the country as well as the attitudes, behaviours and apprehensions that people have around life insurance. Term Insurance, despite being the most fundamental and cheapest form of financial protection, still lacks a significant uptake in urban India. There is an urgent need for Indians to understand the true value of protecting one’s family from the uncertainties of life. We hope the results of this study, act as a wake-up call for consumers and the industry at large and help increase financial protection in the country.”
NPCI identifies new type of digital banking frauds
The entire ecosystem including Banks & Fintech companies have to work collectively towards creating awareness and educating customers to refrain from sharing their account/card credentials, OTP/PIN and/or giving access to their mobile handsets to unscrupulous persons through such remote screen access apps.