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Clearing time for cheques to be cut from 2 days to a few hours: RBI Governor
Shaktikanta Das,Governor,RBI “This means that cheques will be...
Unified train operation safety norm will be issued in 10 days Vaishnaw
Union Railway Minister Ashwini Vaishnaw Talking to media persons...
FTLife and Munich Re announce collaboration on digital underwriting
The new collaboration will allow FTLife to use Munich Re’s SaaS digital automated underwriting solution – ALLFINANZ SPARK (“SPARK”) – to offer a much-enhanced digital experience for customers, including shorter turnaround times for issuing policies. It is a significant advance in the digitalisation of FTLife’s underwriting process.
Lloyd’s Approves Syndicate-in-a-Box, Picnic Syndicate 2460, to cover Mutuals
Picnic will commence underwriting on Jan. 1, 2021 and would initially provide re/insurance support to the innovative mutuals that Picnic’s parent, Picnic Labs, forms and develops in Australia and New Zealand.
Digital health ID not mandatory for accessing COVID vaccine: Health Ministry
The Health Secretary”s remarks came a day after Prime Minister Narendra Modi said India is working on putting a robust vaccine delivery system in place and its digitized network, along with the new digital health ID, will be used to ensure its success. The PM was speaking at the Grand Challenges Annual Meeting on Monday.
“The NDHM, as it exists today, does not make a digital ID or health ID mandatory to receive service under the digital ecosystem that NDHM is creating. To say it would become mandatory for vaccination and those who do not have health ID”s would be deprived is probably not the right interpretation,” Union Health Secretary Rajesh Bhushan said at a press conference.
Battery fires put BMW and Ford on back foot just as electric vehicles take off
While EVs don’t invoke the same instinctual distrust as self-driving cars or flying taxis might, they do require a leap of faith for some consumers. A younger, tech-savvier population is one reason why China is the world’s biggest EV market, Jato Dynamics analysts said in a report earlier this week, with consumers in Europe and the US more likely to stick with what they know.Chemical Cocktail
Pandemic speeds labour shift from humans to robots, WEF survey finds
“COVID-19 has accelerated the arrival of the future of work,” WEF Managing Director Saadia Zahidi said.
Less carbon, more electric vehicles: automakers prepare for potential Biden win
Trump’s and Biden’s policies for autos and transportation diverge, presenting automakers with very different sets of risks and rewards.
f elected, Biden is expected to quickly reinstate the legal basis for California’s zero-emission vehicle rules and begin the process of reversing the Trump administration’s decision to ease fuel efficiency and carbon emission requirements through 2025.
Automakers could also face sharply higher penalties for failing to meet fuel-efficiency requirements. The Trump administration rolled back those penalties, which the industry said saved at least $1 billion in annual compliance costs, but a federal appeals court in August reversed the administration action.
Further rate hardening expected,cyber insurance market to surpass $ 7bn in 2020:Munich Re
Recent experiences following the lockdown of public life and the business world in many countries have been a wake-up call regarding the staggering potential for systemic risks to result in losses that subsequently trigger many different repercussions. Yet it is by definition impossible to insure risks that lead to losses everywhere at the same time, thus violating the fundamental criterion of insurability, said Munich Re.
Interest rates have dropped to record lows once again in 2020. Against the backdrop of the coronavirus crisis, it is increasingly likely that the current interest-rate environment will continue to affect low-risk investments for the foreseeable future. These circumstances mean that sustained profits, in long-tail business and elsewhere, will only be possible if prices match the assumed risks, explained Munich Re..
Cruise, GM to seek U.S. okay for self-driving vehicle without pedal, steering wheel
Under current law, companies can seek an exemption from motor vehicle safety standards for up to 2,500 vehicles for up to two years that do not meet existing federal rules.
The exemptions are for U.S. vehicle safety rules largely written decades ago that assumed human drivers would be in control of a vehicle.
Microsoft, Elon Musk’s SpaceX tie up to woo space customers
The partnership with SpaceX Starlink will provide high-speed satellite broadband for Microsoft’s cloud computing data centers, the company said here in a blog post.
Cloud companies have seen a surge in demand this year as more businesses use their services for switching to work from home due to the COVID-19 pandemic
U.S. says Google breakup may be needed to end violations of antitrust law
The federal government’s complaint against Alphabet Inc’s GOOGL.O, which alleges that Google acted unlawfully to maintain its position in search and search advertising on the internet, was joined by 11 states.
The government said Google has nearly 90% of all general search engine queries in the United States and almost 95% of searches on mobile.
The lawsuit marks the first time the U.S. has cracked down on a major tech company since it sued Microsoft Corp MSFT.O for anti-competitive practices in 1998.
The European Union fined Google $1.7 billion in 2019 for stopping websites from using Google’s rivals to find advertisers, $2.6 billion in 2017 for favoring its own shopping business in search, and $4.9 billion in 2018 for blocking rivals on its wireless Android operating system.