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Acko General Insurance penalised Rs 1 cr by IRDA for violating regulations
According to the IRDAI order, even where outsourcing is given to an intermediary, the insurer retains the responsibility for all regulatory obligations and proper due diligence and monitoring of the outsourced service provider and the services provided Hyderabad/...
Maternity leave integral to maternity benefits, says SC, sets aside Madras HC verdict
"Maternity leave is integral to maternity benefits. Reproductive rights are now recognized as part of several intersecting domains of international human rights law viz. the right to health, right to privacy, right to equality and non-discrimination and the right to...
Robust cybersecurity powerful technologies to determine strength of a nation Prasada
"In UP, around 10 crore Jan Dhan accounts were opened and a majority of these were citizens, who had never used banking services. A major reason behind this was higher costs. With IT integration and online transactions, the cost was brought down to Rs 50 from Rs...
RBI proposes to use biz correspondent network to tackle KYC inoperative account issues
"In order to further ease the process for the convenience of customers, the instructions regarding updation/periodic updation of KYC are being amended with the intent , inter alia, to allow BCs to facilitate in the process of KYC and KYC updation," he draft circular...
Prudential appoints Naveen Tahilyani as its regional CEO for India and Africa
Naveen Tahilyani Earlier, Prudential plc had announced its plan to establish a joint venture with Vama Sundari Investments (Delhi) Private Limited (Vama), an HCL Group's Promoter Company, for an Indian standalone health insurance company London: UK major Prudential...
Growing middle class, rising financial literacy boosting India’s retail investor participation: Report
"The availability of diverse investment products, such as mutual funds, exchange traded funds (ETFs), portfolio management services (PMS), REITs, InVITs, AIFs, plain vanilla debentures, market linked debentures, etc, allows investors to build diversified portfolios...
One in three Gen Z Indians now invests in markets: SEBI Chief
Tuhin Kanta Pandey, chairman, Securities and Exchange Board of India Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey pointed out that the market ecosystem has grown significantly in recent years, with the number of participants nearly...
Recent rainfall unlikely to damage major crops will boost production: Agriculture Secretary
"No damage has been reported so far due to sudden rainfall. It will benefit summer (zaid) crops such as moong, maize and paddy," Agriculture Secretary Devesh Chaturvedi New Delhi: The recent rainfall following extreme heat conditions across parts of the country has...
SC issues notice to Centre on plea seeking national guidelines on heatwave
A bench comprising Chief Justice B R Gavai and Justice Augustine George Masih issued notice to the Ministry of Home Affairs, Ministry of Environment, Forest and Climate Change, National Disaster Management Authority and others, seeking their response within two weeks....
Russia to defend its vessels in the Baltic Sea by all legal means
The comments come as Baltic nations grow increasingly concerned about the activity of vessels that haul Russian barrels overseas, a key revenue source for the government in Moscow. They’re worried these ships could cause security breaches, damage power and internet...
Aircraft lessor SMBC proceeds from Russian jet insurance settlements hit $1.4 billion
That brought SMBC’s total recoveries from claims following the sanctions over Moscow’s war in Ukraine to $1.41 billion. It was one of six lessors that ended an Irish lawsuit against their insurers last month following a series of settlements Dublin: Aircraft lessor...
Global loss of tropical and boreal forests surge to a record high in 2024
All of this is occurring after the hottest year on record, with Earth’s warming exceeding 1.5C over pre-industrial levels on an annual basis for the first time. The United Nations has warned that temperatures will continue to rise unless drastic action is taken to...
Need to establish permanent body for consumer disputes SC to Centre
"The Union of India is directed to file an affidavit on the feasibility of a permanent adjudicatory forum for consumer disputes, either in the form of a consumer tribunal or a consumer court, within a period of three months from today, on the touchstone of the...
Paytm founder calls out scamster impersonating him shares screenshots of hilarious exchange
Vijay Shekhar Sharma,Paytm founder and CEO The encounter, which left many netizens in splits, also spotlighted the darker side of the digital world, where unsuspecting individuals are targeted by scamsters using sophisticated manoeuvres, advanced techniques, fake...
DoT introduces ‘Financial Fraud Risk Indicator’ to fight cyber fraud
This will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool, when digital payment is proposed to be made to such numbers New Delhi: In a major step towards combating cyber fraud and financial crime, the Department of...
Sebi cautions investors on stock market scams through social media platforms
Sebi has observed that such entities use various strategies to gain investors' trust and confidence. Generally, these entities send unsolicited invitations in the form of links to join WhatsApp groups -- often under names like "VIP Group" or "Free Trading Courses"--...
Central govt employees retiring day before annual pay hike date to get notional increment
As specifically mentioned in the orders of the apex court, "grant of the notional increment on January 1/July 1 shall be reckoned only for the purpose of calculating the pension admissible, and not for the purpose of calculation of other pensionary benefits," said the...
Japan’s 3 major casualty insurers plan to sell $9.5 billion of cross-held shares
Eliminating cross shareholdings is seen by many as a yardstick for measuring corporate governance reform at Japanese companies. Japan’s industry body for non-life insurers told its members in September to cut their cross-shareholdings in the aftermath of a...