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FinMin asks banks, insurance firms to expedite public grievances resolution
M Nagaraju, Secretary, Department of Financial services At the outset, the Secretary reiterated the Prime Minister's direction given in the Pragati meeting held on December 26, that all the Senior officers at the level of Chairman/ MD/ ED of PSBs/PSICs should review...
Govt extends PMFSBY and RWBCIC till FY25-26, sets up Rs 824.77 crore technology fund for crop claim settlement
Prime Minister Narendra Modi For large scale technology infusion in implementation of the scheme leading to increasing transparency and claim calculation and settlement, the Union Cabinet has also approved creation of Fund for Innovation and Technology (FIAT) with a...
2024 Insurance Amendment Bill: Ushering in a New Era in Indian Insurance
Shailaja Lall & Shivangi Talwarer Some clarity has been provided on ‘services related or incidental to insurance business’ under the 2024 Amendment Bill which includes carrying on and transacting guarantee and indemnity business, managing, selling and realising...
Sebi issues clarification on cybersecurity norms, offers compliance extensions
The framework is designed to ensure that Sebi-regulated entities (REs) maintain robust cybersecurity posture, remain equipped with adequate cyber resiliency measures and can withstand, respond to, and recover from cyber threats, effectively New Delhi: Sebi on Tuesday...
Year ender: Mutual fund industry’s AUM surges over 500 pc in a decade
Rural and semi-urban areas now account for 50 per cent of the total SIP accounts in the country. Meanwhile, AUM growth in B-30 (Beyond 30 cities) outpaced the top-30 cities during this period. New Delhi: Indian mutual fund industry’s assets under management (AUM) saw...
20th SIRC-Revolutionise(Re)Insurance
After Monte Carlo Rendez-Vous de Septembre and Baden Baden Reinsurance Meet, the global reinsurance industry has gathered in Singapore for 20th SIRC ,in the 1st week of November, to prepare itself for the Jan 1 renewals. Asia Insurance Post had prepared a special...
SIRC-FDownload
Beijing to boost driverless vehicle use, regulations to kick in from Apr 1
Autonomous vehicles that pass road testing and safety assessments will be allowed to apply for road trials.Chinese authorities have been aggressively greenlighting trials for self-driving technology with at least 19 cities conducting robotaxi and robobus tests China's...
China’s 2024 GDP growth set to hit target of around 5%, says Xi Jinping
China is expected to set a 2025 growth target roughly similar to this year’s, as top leaders signaled earlier this month they’re willing to embrace more forceful stimulus measures. That would help the economy counter any impact from potential increases in US tariffs...
Ex-cop, PSU staffer among 5 men handed jail term in 2003 bogus insurance claims case
During investigation, it was revealed that public servants entered into a criminal conspiracy and colluded with private persons and sanctioned insurance claims based on forged documents, thus causing loss to the New India Assurance, said the agency Ahmedabad: A...
Wayanad landslide declared as ‘disaster of severe nature’
``Keeping in view the intensity and magnitude of the Meppadi landslide disaster in Wayanad district, it has been considered by the Inter-Ministerial Central Team as a disaster of severe nature for all practical purposes," a communication to the Kerala government from...
NGT kept close watch on environmental concerns, issued several orders in 2024
The maintenance of the pristine sanctity of venerated rivers, including the Ganga and Yamuna, particularly in the light of the upcoming Mahakumbh in Prayagraj was another concern before the green body New Delhi: The National Green Tribunal dealt with a wide range of...
Gold set to extend record run; may hit Rs 90,000 in 2025 on global cues
Gold price is hovering at Rs 79,350 per 10 grams in spot markets at present, and Rs 76,600 per 10 grams in futures trade on the Multi Commodity Exchange (MCX) NEW DELHI: Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising...
World population will be 8.09 billion on New Year’s Day after a 71 million increase in 2024
The 0.9% increase in 2024 was a slight slowdown from 2023, when the world population grew by 75 million people. In January 2025, 4.2 births and 2.0 deaths were expected worldwide every second, according to the estimates New York: The world population increased by more...
Fadnavis asks transport department to use AI for road safety measures
Maharashtra Chief Minister Devendra Fadnavis directed the state transport department to enforce policies for scrapping all vehicles above 15 years of age. The Maharashtra government has signed an agreement with Google, to increase the use of AI to strengthen the...
South Korea’s Jeju Air crash insured by Samsung Fire & Marine and 4 others, reinsured by AXA XL
The aviation insurance industry could be looking at a claim for about $15-$20 million under the airline hull insurance policy, and total passenger liability claims of $120-$180 million due to the crash, according to Marcos Alvarez, managing director of global...
South Korea orders airline safety probe after worst domestic crash kills 179
Investigators are examining bird strikes, whether any of the aircraft’s control systems were disabled, and the apparent rush by the pilots to attempt a landing soon after declaring an emergency as possible factors in the crash, fire and transportation officials have...
SBI Life picks up 10 pc stake in Bima Sugam India Federation for Rs 6.6 cr
Bima Sugam India Federation, an unlisted company, incorporated on June 18, 2024, aims to create and operate a centralised marketplace of insurance products and services. It is currently in the process of mobilising over Rs 200 crore of capital from both life and...