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Finance Ministry to host two-day conclave on 17-18 Aug, to deliberate people-centric banking reforms
The thematic tracks will focus on deposit mMobilisation, banking for youth, supporting the investment cycle, supporting global capability centres, agriculture & horticulture value chain infrastructure, re-imagining the credit card business, and priority sector...
UPI transactions remain free for consumers: FM Sitharaman
Nirmala Sitharaman,Union Finance Minister Clarifying the position on smaller businesses, Sitharaman said, "Small merchants remain central to UPI's inclusive growth. We are not going to impose any MDR on them. We don't intend to." She further said consumers would...
Key question:Whether reinsurers can maintain underwriting discipline or will irrational competition emerge
“If underwriting discipline and pricing integrity can be maintained despite record levels of capital, the industry may indeed be in the midst of a meaningful evolution of the reinsurance market. If not, history may once again demonstrate that the fundamental dynamics...
Magnitude-7.4 quake hits western Colombia, collapsing buildings and killing at least 73 peop
Colombia’s Pacific region around the quake’s epicenter lies along the “Ring of Fire”, the line of seismic faults encircling the Pacific Ocean where most of the world’s earthquakes occur. BOGOTA, Colombia: A powerful 7.4 magnitude earthquake struck western Colombia on...
Air India’s A320 plane suffered glitches, turbulence during Phuket-Delhi flight: Sources
On August 9, the civil aviation ministry said that in the AI2379 flight incident, injuries were reported to a few passengers and cabin crew members on board. There were 137 passengers, including three infants, and eight crew members on board. New Delhi:Air India's...
Service fees should be charged for passage through Hormuz: Iranian Foreign Ministry spokesperson
"Generally, when you provide maritime services, you must be reimbursed for them," Iranian Foreign Ministry spokesperson Esmaeil Baghaei Tehran: Iranian Foreign Ministry spokesperson Esmaeil Baghaei stated on Monday that fees should be charged for maritime services...
General insurance premium grows by 10.50 % in July to Rs 31,000 cr
Seven stand alone health insurers (SAHIs) together have grown their premium income by 30 per cent to Rs 4666 crore in July Mumbai:Boosted by Health and Motor segments, the Indian general insurance industry has seen a growth of 10.50 per cent year-on-year(Y-o-Y) in...
FSSAI warns Diageo its whisky’s ‘matured in American oak casks’ claim was misleading
The FSSAI announced on Sunday it had prohibited sales of Diageo's Royal Challenge Whisky made in the state of Madhya Pradesh and some whisky and rum brands made in some Indian states by Diageo and India's Inbrew for using artificial flavouring, such as whisky and...
Screening test indicated result requiring confirmatory testing: Civil Aviation Ministry on Phuket-Delhi flight mishap
The Airbus A320, operating flight AI2379 from Phuket to Delhi on August 4, lost about 300 feet of altitude during cruise before stabilising and landing safely in Delhi. New Delhi:The pilot-in-command of an Air India flight that experienced a sudden loss of altitude...
India aims to see electric air taxis fly by 2028, testing to gather pace next year: Union Civil Aviation Minister
Speaking at the inauguration of Sarla Aviation's new headquarters in Bengaluru, Naidu said electric vertical take-off and landing (eVTOL) aircraft could offer a new mobility option for congested metropolitan cities such as Bengaluru, Mumbai and Delhi. Bengaluru:India...
Retail participation in financial markets likely to deepen as household savings shift towards market-linked assets: SEBI
The number of unique mutual fund investors rose 13.2 per cent year-on-year to 6.1 crore in 2025-26. Importantly, the expansion is increasingly broad-based, with Tier III cities accounting for 55 per cent of the investor base, indicating deeper penetration beyond major...
Households in India, other Asia-Pacific regions highly vulnerable to El Nino-driven price shocks: S&P
S&P said South and Southeast Asia are among the more vulnerable regions globally to El Nino. Lower rainfall associated with the climate phenomenon will raise food prices and disrupt water-intensive industries. New Delhi:Asia-Pacific economies, like India, Vietnam,...
UPI stays free for users, vast majority of transactions to remain free for merchants as well: Govt
Justifying marginal charges the government has said with exponential transaction volumes through UPI, the system requires significant and continuous upgrades in cybersecurity, fraud prevention, and infrastructure. It is also necessary to increase competition by...
Life Insurance:Protecting India’s rising aspirations
For India's semi-urban and rural households, life insurance is not merely a financial instrument; it is a means of preserving dignity and safeguarding aspirations. It empowers families to face adversity with greater confidence, knowing that years of hard work and...
Amit Shah stresses cybersecurity, announces 24/7 cyber surveillance for urban cooperative banks
"There is an increase in digital transaction frauds. The forensic science support is crucial for banking safety and collaboration with the National Forensic Science University (NFSU) is very crucial," Union Home and Cooperation Minister Amit Shah said while addressing...
Life insurers’ new business premium rises 21% in July, retail growth remains mixed
According to provisional data from the Life Insurance Council's Detailed New Business Performance of Life Insurers for the Period ended Jul-26, group single-premium collections rose sharply to Rs 27,857.01 crore in July from Rs 21,280.53 crore a year earlier, an...
Munich Re posts better-than-expected profit amid low loss claims
`We deliberately opt not to take on business where prices would not be risk-commensurate, while remaining a reliable long-term partner to our clients, even after the largest of loss events.''Christoph Jurecka,Chair of the Board of Management. German reinsurer Munich...
Proposed Hormuz passage deal not feasible for shipping industry, sources say
Ships sailing through the strait need to pay an additional war risk premium to ensure they have insurance if their ship is damaged during transit. “Under the clause, insurers have no liability to indemnify any such payment and, where such a payment has been made, are...