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India needs a strong and responsive disaster financing architecture as a cornerstone of resilience: Indian PM’s advisor
PK Mishra, Principal Secretary to the Prime Minister had addressed the Ministerial Roundtable on Disaster Risk Reduction (DRR) Financing at Geneva on 4th June Recognizing the need for diverse financial instruments beyond public finance, he noted that mechanisms such...
Active Covid cases in India cross 5,000-mark
Official sources have maintained that most cases are mild and managed under home care. Since January this year, 55 deaths have been reported in the country. There were a total of 257 active patients in the country on May 22 New Delhi: India's active Covid case tally...
RBI focuses on growth with larger-than-expected 50 bps cut in key rate; slashes reserve ratio
Sanjay Malhotra,Governor,Reserve Bank of India Explaining Friday's cut, RBI Governor Sanjay Malhotra said inflation had softened significantly, giving space for continuing policy easing and front loading of rate cuts. The central bank has a 4% inflation target MUMBAI:...
Central Bank ventures into insurance, buys stakes in Generali’s Indian life and general insurance JVs
Central bank acquired acquired equity stake of 24.91 per cent of Future Generali India Insurance Company for Rs 451 crore. It also bought a 25.18 per cent stake in Future Generali India Life Insurance for a cash consideration of Rs 57 crore as part of the insolvency...
Govt and GIC Re are in talks to set up an exclusive mega Pool to reinsure country’s all hydropower plants
N Ramaswamy, CMD, GIC Re ``Currently, due to the huge catastrophic risks involved, there is very limited reinsurance capacity available for hydro power plants. More often, catastrophic covers are sub-imited. With climate risks and rising frequency and...
Crypto crime spills over from behind the screen to real-life violence
While crypto thefts are not new, the use of physical violence is a far more recent trend, said John Griffin, a finance professor at the University of Texas in Austin who tracks financial crimes. A man says he was tortured for weeks in a New York townhouse. Another in...
Trump tariffs stoke supply chain worries for US businesses, survey shows
“Our survey showed supply chain disruptions were a concern to business owners, with 90% reporting they are concerned about the impact of tariffs on their businesses,” Chairman and CEO J. Patrick Gallagher told Reuters A majority of U.S. business owners are worried...
Burning cargo ship carrying 3,000 vehicles abandoned off Alaska
Smoke was initially seen rising from a deck loaded with EVs, the company said. It is not clear what brand of vehicles the ship was carrying. EV-related fires on ships are challenging to extinguish due to the heat generated and risk of reignition, which could persist...
Monsoon Session Of Parliament From July 21 To August 12
The Insurance Amendment Bill, which proposes allowing 100 per cent foreign direct investment (FDI) in the insurance sector, is expected to be introduced in the upcoming monsoon session of Parliament New Delhi: The Monsoon session of Parliament will be held from July...
14–19 named storms in tropical North Atlantic predicted in this year hurricane season
These numbers are slightly above the long-term average for 1950 to 2024 (12.5 named storms, 6.5 hurricanes and 2.6 severe hurricanes) and are in line with expectations for the cyclical warm phase in the North Atlantic since the mid-1990s (15.8 tropical storms, 7.8...
Expanding missile threats and airspace closures are straining airlines
With increasing airspace closures around Russia and Ukraine, throughout the Middle East, between India and Pakistan and in parts of Africa, airlines are left with fewer route options NEW DELHI: Proliferating conflict zones are an increasing burden on airline...
Former Kia India workers, scrap dealers face probe over theft of 1,008 engines
An initial police investigation found two former Kia India factory workers - a team leader and a head of section in the engine dispatch section - were involved in illegally transporting the engines from the factory using forged invoices and manipulated gate passes,...
Riskcovry launches first Model Context Protocol server as a distribution platform
Riskcovry, an insurtech infrastructure platform, has launched the country’s first Model Context Protocol (MCP) server for India's insurance sector. A dedicated infrastructure designed specifically for insurance distribution use cases, the MCP server allows...
Bank deposits grew by 10% in FY25, growth decline from 13% recorded in FY24: RBI Data
The RBI data showed a clear trend of increasing preference for term deposits over the past few years. Higher interest rates on these deposits encouraged more people to invest in them. New Delhi: The growth of bank deposits in India slowed down to 10.6 per cent...
Aircraft makers need to come out with SOPs for airlines to deal with GPS spoofing situations IATA
Airlines have been reporting GPS interference with their flights in different parts of the world, especially while flying near or over conflict zones. New Delhi: Amid flights facing rising instances of GPS interference and spoofing, global airlines' grouping IATA on...
AIC pays Rs7,057 crore of claims to over 1.12 crore farmers in FY25: Chairperson
Lavanya R. Mundayur, CMD, Agriculture Insurance Company Crop insurance isn't just a business—it's a developmental tool for the entire rural ecosystem. It demands long-term commitment, timely claim settlement, use of technology for risk management, and a deep...
COVID-19: Active cases cross 4,000 mark, 5 fresh deaths reported in last 24 hours
Director General of Indian Council of Medical Research (ICMR) Dr Rajiv Behl on Monday stated that genome sequencing of samples in West and South have shown that the variants leading to the current rise in cases are not severe and are sub variants of Omicron only. New...
RBI considers easing bank ownership rules as foreign interest grows
Banking remains one of the most guarded sectors of the Indian economy. While foreigners including portfolio investors can own up to 74%, regulations limit a strategic foreign investor's stake to 15%. MUMBAI: The Indian banking regulator is signalling possible rule...