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RBI Governor advises fintech firms against expanding business by exploiting regulatory gaps
Sanjay Malhotra,Governor, Reserve Bank of India Reserve Bank of India Governor Sanjay Malhotra cautioned companies against adopting a strategy of scaling first and seeking regulatory forgiveness later, saying that firms attempting to outrun regulations could...
NPS Swasthya likely to launch within 30 days, final guidelines due in days: PFRDA chief
Sivasubramanian Ramann, Chairman,PFRDA NPS Swasthya is a health-focused pension product under the National Pension System that allows subscribers to set aside part of their retirement corpus for medical expenses. PFRDA introduced it initially as a proof of concept...
SEBI preparing markets for quantum computing risks, post-quantum cryptography: Tuhin Kanta Pandey
Pandey said sufficiently advanced quantum computing could pose a risk to the cryptographic systems currently used to secure digital information. Mumbai: The Securities and Exchange Board of India (SEBI) is preparing the securities market for cybersecurity risks that...
BRICS Climate Agenda: Focus on Global South as India pushes for sustainable future
While energy transition focuses on reducing future emissions, climate adaptation is becoming increasingly important for countries already dealing with climate-related risks. As India prepares to host the 18th BRICS Summit, climate action is emerging as an important...
Equity MF inflows hit 4-Month high in August: AMFI Data
The overall mutual fund industry saw a decline in net inflow to Rs 41,353 crore in August compared to a staggering Rs 2.36 lakh crore in July. This was primarily driven by debt-oriented schemes, which experienced an outflow of Rs 8,127 crore as compared to an inflow...
Aviation regulator DGCA orders drug tests for pilots across all airlines
The moves come against the backdrop of the pilot-in-command of an Air India Phuket-Delhi flight, which suddenly lost nearly 300 feet altitude leaving many passengers injured on August 4, testing positive for drug use. New Delhi: Aviation watchdog DGCA has ordered drug...
Govt open to stricter red warnings on food packs in latest setback for companies
"We are concerned with the health of people, more particularly growing children. We have taken it up very seriously. We expect one and all to extend their cooperation to a cause which is in national interest," the Supreme Court said on Thursday. NEW DELHI: India's...
Ind AS:11 re/insures switch to new accounting system, says IRDAI
The insurers that have been granted forbearance and are scheduled to implement Ind AS from FY 2027-28 are being closely monitored by IRDAI as per their board approved monthly implementation milestones. The IRDAI is engaging with insurers on an ongoing basis, with any...
Zuno Gen Insurance promises to cover damage to cars due to blended fuel use
The product comes amid a heated debate on the impact of the mandatory use of ethanol in fuels. The government has admitted to reverses on mileages, while there are also claims of other damage, including to engines. Mumbai: Zuno General Insurance on Wednesday said it...
AI could pose ‘existential’ risk to humanity, UN rights chief warns
Volker Türk,human rights chief.UN Turk warned that just a handful of men held “almost unlimited power over AI” without naming any. Top AI companies include Meta, Anthropic, OpenAI and Google. UN human rights chief Volker Türk added his voice on Monday to growing calls...
China to pump $45 billion into state banks, insurers in capital-boosting push
Last week, the National Financial Regulatory Administration published draft amendments to the Insurance Law. The first such revisions since 1995 propose tighter oversight of insurers’ shareholders, higher minimal capital thresholds, a wider scope of insurers that...
IRDAI slaps Rs1 cr fine on ICICI Lombard for violating outsourcing norms
The IRDAI passed an order against ICICI Lombard General Insurance after conducting an onsite inspection conducted during September 2019 and subsequent enforcement proceedings. Hyderabad:The IRDAI on Monday, has imposed a monetary penalty of Rs one rore on ICICI...
“India’s medical tourism has a huge potential”, says Piyush Goyal
Union Commerce and Industry Minister Piyush Goyal Highlighting India's cost advantage, Goyal said the country offers clinical excellence and advanced technologies while healthcare costs are "60 to 80 per cent lower than other parts of the world, particularly the...
Blue Machines AI launches Aurora, a BFSI-native speech-to-text model
Aurora is designed for real-time financial conversations in India, where customers frequently switch languages, combine English financial terminology with regional languages, and communicate over noisy or low-bandwidth telephone connections. Bengaluru: Blue Machines...
Alternative-fuel car: Sales more than petrol vehicles on cost, E20 concerns, dealers’ body says
Alternative-fuel models, including compressed natural gas, hybrid and electric models, accounted for nearly 42% of passenger-vehicle sales, while petrol vehicles stood at about 41%, according to the Federation of Automobile Dealers Associations (FADA), which...
The growing use of artificial intelligence and the threats posed by cyber risks are fundamentally changing the risk landscape. Although cyber risks currently present one of the greatest business risks, uptake of cyber insurance remains low. The increasing...
Even as rescuers search for the thousands still missing in Nepal after catastrophic flooding that killed 1,250 people, the nation’s leaders face a second immense challenge — how to pay for recovery and rebuilding.The tab is expected to come to at least $5 billion, an...
Atlantic Hurricane season remains most Tranquil since 1941
The tranquil Atlantic is good news for the millions of people who live along the US East and Gulf coasts, or on Caribbean islands. It also means fewer disruptions for the oil and gas export terminals that line the Gulf of Mexico. September is usually the month when...