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US ‘notorious markets’ report warns of risks from online pharmacies
The report says 96 per cent of online pharmacies were found to be...
DPDP Act 2023: Insuring fines and penalties
While clarity on insurability of DPDP Act fines from an enforcement...
PM Modi launches National Digital Mission to ensure health IDs for all
The key components of the Ayushman Bharat Digital Mission include a health ID for every citizen that will also work as their health account, to which personal health records can be linked and viewed with the help of a mobile application, a Healthcare Professionals Registry (HPR) and Healthcare Facilities Registries (HFR) that will act as a repository of all healthcare providers across both modern and traditional systems of medicine.
This will ensure ease of doing business for doctors and hospitals and healthcare service providers.
FM Sitharaman to launch 3-day Global FinTech Fest on Sept 28
Senior policy makers addressing the Fest are R S Sharma, CEO, National Health Authority, Ministry of Health & Family Welfare; Shri Ajay Prakash Sawhney, Secretary, Ministry of Electronics and Information Technology; Dr Krishnamurthy V Subramanian, Chief Economic Advisor, Ministry of Finance,T Rabi Sankar, Deputy Governor, Reserve Bank of India; G Mahalingam, Whole Time Member, Securities and Exchange Board of India; Lord Mayor William Russell; City of London and Saurabh Garg, CEO, Unique Identification Authority of India.
Among the international regulatory and institutional speakers are: Tobias Adrian, Financial Counsellor and Director Monetary and Capital Markets Department, International Monetary Fund; Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore; Dr Oliver Prill, CEO, Tide; Preeti Sinha, Executive Secretary, United Nations Capital Development Fund.
LIC inks ‘Print to Post’ agreement with Postal department
Amazon to start offering insurance to UK businesses: Broker
Members of Amazon’s Business Prime program will be able to buy cover from Superscript such as contents insurance, cyber insurance and professional indemnity insurance, which a Superscript spokesperson said would be underwritten by “major UK insurers.” They will be offered a discount of 20% to current rates as a way of enticing businesses over to them.
ICICI Pru Life in discussion for onboarding Account Aggregator system: Official
Earlier this month, the government unveiled the Account Aggregator (AA) network to allow sharing of financial data of individuals, which can be used by various financial services providers such as banks, insurers, fintech companies.
”It is a big enabler and there are some discussions. We will have to see operationally where exactly we are,” Deepak Kinger, Chief – Risk and Compliance, ICICI Prudential Life Insurance Company (ICICI Pru Life), told PTI.
‘Flipping’ by startups poses security threat, says SJM
Ashwani Mahajan, National Co-Convener of SJM – a wing of the Rashtriya Swayamsevak Sangh, says unicorns with over USD 1 billion valuation ‘flipping’ means avoiding Indian regulatory oversight and loss of revenue to the country.
”India has been proud of its startups creating immense value and adding to the GDP of the country. But our happiness remains short-lived when we find that they have not remained Indian any more. Most of these high ticket startups have flipped away and are no longer Indian companies in essence,” he told PTI.
Flipping means a transaction where an Indian company incorporates a firm in a foreign jurisdiction, which is then made the holding company of the subsidiary in India. The most favourable foreign jurisdictions for Indian companies are Singapore, the United States and the United Kingdom.
Honda to use Google’s Android Automotive OS in its cars from 2022
In addition, Google also collaborating with the likes of Ford, General Motors and the Renault-Nissan-Mitsubishi Alliance to incorporate Android Automotive into their vehicles.
Tesla starts judging owners it charged $10,000 for self-driving
Musk’s fostering of the perception Tesla is a self-driving leader has helped make it the world’s most valuable automaker by far. But others have taken issue with what they see as a reckless and misleading approach to deploying technology that isn’t ready.
The U.S. National Highway Traffic Safety Administration recently opened its second defect investigation into Autopilot since 2016.
Centre could extend Fame II incentive scheme for purchase of personal electric cars, e-cycles: Report
At present the Fame II scheme benefits covers only electric two-wheelers, three wheelers, four-wheeled passenger vehicles and goods carrying vehicles. Under it, vehicles are provided with demand incentives that help to bring down its purchase price. FAME 2 had increased the benefit offered from Rs 10,000 per kWh to Rs 15,000 per kWh. That`s a hike of 50 per cent.
No plans to bring standard products for cyber liability insurance policy as of now: Member Irdai
Even as cyber risk insurance products are available in the market, both for the commercial and for individuals, she said insurers can now identify the possible risks and the recommendations that can be implemented.