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AAIB initial report on plane crash found no mechanical maintenance issues with Boeing 787-8 plane AI CEO
"out of an abundance of caution and under the oversight of regulator DGCA, every Boeing 787 aircraft operating in our fleet was checked within days of the accident and all were found fit for service. We continue to perform all necessary checks, as we will any new ones...
Expanding Indian EV Market: Securing Battery Insurance
Battery, making up about 60% of an EV’s total cost often doesn’t get the focused attention it deserves. This makes it all the more important to highlight the value of dedicated battery insurance for EVs. With the total number of electric vehicles(EV) on the road...
Need to establish weather station at wind solar plants of 50 MW CEA
"Accurate measurement of critical meteorological parameters would optimise renewable energy generation. Also, it would improve overall generation predictability, efficiency, enhance grid reliability and ensure regulatory compliance," the goverment notification said...
Govt eases emission rules for coal power plants, reversing decade-old mandate
The government said the decision was taken after the Central Pollution Control Board carried out a detailed analysis of the increase in "carbon dioxide emission into the atmosphere due to operation of control measures being deployed." NEW DELHI: India has reversed a...
Amid Air India probe, US FAA, Boeing notify fuel switch locks are safe, document, sources say
The FAA's Continued Airworthiness Notification on July 11 came after a preliminary report on Friday into last month's Boeing 787-8 crash, which killed 260 people, raised questions over engine fuel cutoff switches. WASHINGTON/NEW DELHI/MONTREAL: The U.S. Federal...
Risk-Based Capital: Rewarding Indian insurers
The adoption of Risk-Based Capital (RBC) rules by the Indian insurance industry is more a strategic and forward-looking shift focussing not just on stability but also on expansion, and attracting long-term investment. It can better align India with global standards...
From hotel cancellation to loss of baggage, Ahmedabad air crash victims opted for array of retail insurance
The incident has triggered retail claims under various insurance categories like travel, personal accident, and life insurance, including those from Kisan Credit Card holders. Personal accident claims have emerged as a significant category, second only to life...
Fuel switches cut off before AI plane crash; no recommended action for 787-8 operators for now: AAIB
On June 12, Air India's Boeing 787-8 aircraft operating flight AI 171 en-route to London Gatwick crashed into a medical hostel complex soon after take-off from Ahmedabad, killing 260 people, including 241 persons who were onboard the plane. New Delhi: Fuel control...
10 hydropower projects damaged in Nepal floods, no significant effect on power export
In a statement, Independent Power Producers Association Nepal (IPPAN) said that seven hydropower projects currently generating 251 MW hydropower have been completely shut down due to the floods. Kathmandu: At least 10 hydropower projects have been damaged by floods in...
20 river sites under flood risk 3 locations in Assam and Bihar face severe inundation CWC
Overall, the CWC has flagged flood concerns in 20 locations, primarily in Assam, Bihar, Odisha, Uttar Pradesh, and West Bengal. New Delhi: Twenty river sites across India remain under flood risk, with one location in Assam and two in Bihar experiencing severe flood...
European Commission to propose floating Russian oil price cap
The Commission proposed lowering the Group of Seven (G7) nations’ price cap from $60 a barrel to $45 barrel in June in its 18th package of sanctions against Russia for its invasion of Ukraine. The G7 price cap, aimed at curbing Russia’s ability to finance the war in...
Insurance cost surge for commercial ships sailing past Yemen’s Houthi militants
Shipowners now have to pay about 1% of a ship’s value if they want to pass through the Red Sea, said Marcus Baker, global head of marine cargo and logistics at Marsh McLennan, the world’s largest insurance broker. That’s up from 0.2% to 0.3% in recent months, a period...
Govt unveils scheme with up to Rs 9.6 lakh incentive on purchase of electric trucks under PM E-DRIVE
"Diesel trucks, though constituting only 3 per cent of the total vehicle population, contribute to 42 per cent of transport-related greenhouse gas emissions and significantly worsen air pollution. This pioneering scheme represents India's first dedicated support for...
Asia Index launches BSE Insurance Index
The BSE Insurance Index is derived from the constituents of BSE 1000 Index that are classified under the insurance industry.This new index can be used for running passive strategies such as ETFs and Index Funds as well as gauging the performance of various sectors in...
IRDAI board meet on July 14, likely to approve new licenses
In the absence of a regular chairman after Debasish Panda ended his three-year term in March ,PK Arora, member, Actuary, IRDAI, will chair the IRDAI board meeting New Delhi/Hyderabad: Insurance regulator IRDAI will have its next board meet on 14th July and...
Extreme Weather: Euro Zone could lose 5% of GDP, says ECB
“Climate-related risks are an immediate concern for financial stability and economic growth,” Stracca and Bundesbank board member Sabine Mauderer said in a blog published by the ECB Extreme weather events such as heatwaves, flooding and wildfires could wipe as much...
UP govt sets July 31 deadline for kharif crop insurance; farmers must report damage within 72 hours
Farmers can register through banks, common service centers, or the official portal www.pmfby.gov.in. For help with registration, claims, or documentation, they can contact the Crop Insurance Helpline at 14447 Lucknow: To protect against potential risks this kharif...
Supervision of National Health Claims Exchange may be shifted from NHA to MoF to curb rising healthcare costs, source says
"Strict supervision" of the National Health Claims Exchange - the platform that acts as a gateway between insurers, healthcare providers and patients - will improve the "collective bargaining power" of insurance companies to set treatment rates, the source said NEW...