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Indian billionaires more than doubled to 185,their total wealth almost tripled to $ 905.6 bn in last 10 yrs, says UBS report
From 2015 to 2020, billionaire wealth grew globally at an annual rate of 10%. Since 2020, the global average has stalled at 1%. But that number masks continued expansion in the US,EMEA and parts of Asia, most notably India, ``Billionaire Ambitions Report 2024''...
Sebi revamps investor charter to boost transparency, grievance redressal
The revamped charter aims to enable investors to better understand the risks associated with market investments while ensuring their fair treatment in a timely and efficient manner New Delhi: Capital markets regulator Sebi on Friday unveiled an updated investor...
India beats China in green investments; deals worth $2.4 bn completed in Q3
More than a dozen renewables and electric vehicle firms have publicly listed this year, including solar panel producer Waaree Energies Ltd. and scooter manufacturer Ola Electric Mobility Ltd. Shares in clean power firm NTPC Green Energy Ltd. have advanced more than 30...
Consumer affairs ministry to issue guidelines to curb pesky calls, messages
"The Department of Consumer Affairs had started working on prevention of pesky calls, and we had to engage with all the stakeholders in this," Consumer Affairs Secretary Nidhi Khare said. New Delhi: Consumer Affairs Secretary Nidhi Khare on Friday said the department...
Kerala HC criticises Centre, state on lack of clarity in Wayanad relief aid
The queries from the court came during a hearing of a plea initiated by it for prevention and management of natural disasters in the state in the wake of the landslides that devastated three villages in Wayanad district and claimed over 200 lives Kochi: The Kerala...
Investors with $9.5 trillion seek mandatory Scope 3 emissions disclosures
The group, which includes Allianz SE and the California Public Employees’ Retirement System, said while it’s critical for signatories to consider Scope 3 pollution, integrating those emissions into carbon accounting and target setting “is highly challenging” due to a...
Amundi SA eyes acquiring control of Allianz Global Investors
Rising costs and pressure on fees are prompting asset managers to seek further scale. Many of the biggest players in Europe are still owned by banks or insurers, and often lack the scale to compete with US fund houses and alternative investment firms that have enjoyed...
CSC e-Governance Services, CAIT partner for last-mile empowerment of citizens
The partnership seeks to empower traders and citizens across the country by facilitating their registration under various social security schemes, including National Pension System (NPS); Pradhan Mantri Shram Yogi Maan-Dhan Yojana; Atal Pension Yojana; Pradhan Mantri...
RBI setting up expert committee for ethical use of AI in financial sector
In a bid to ensure “Zero Financial Frauds” RBI has initiated AI / ML based model called MuleHunter being piloted by Reserve Bank Innovation Hub (RBIH), a subsidiary of Reserve Bank Mumbai: Unveiling Framework for Responsible and Ethical Enablement of Artificial...
RBI cuts banks’ CRR by 50bps to ease liquidity conditions, keeps rates unchanged, lowers GDP growth target
The RBI sharply cut the GDP growth projection to 6.6 per cent from the earlier level of 7.2 per cent, while raising inflation target to 4.8 per cent from the previous projection of 4.5 per cent for the current fiscal. Mumbai: Reducing cash reserve ratio(CRR) by 50...
Ammunition used in CEO’s killing had ‘deny,’ ‘defend’, ‘depose’ written on it
The message left on the ammunition echoes the phrase “delay, deny, defend,” which is commonly used by attorneys and insurance industry critics to describe tactics used to avoid paying claims. It refers to insurers delaying payment, denying a claim and then defending...
Indian businesses should not be excessively dependent on one supply chain: Jaishankar on trade with China
The external affairs minister said alternative routes for supplies are increasing the transportation cost of the shipments. “It is of very direct economic consequence. So we have actually been interacting with all the major players including Iran and Israel,” External...
Canara Bank gets RBI nod for life insurance & MF stake divestment
Reserve Bank of India on Thursday has accorded approval to our bank for divesting its shareholding in Canara Robeco Asset Management Company Ltd and Canara HSBC Life Insurance Company Ltd by 13 per cent and 14.5 per cent, respectively through Initial Public Offer...
OROP: Have decided not to accept recommendations on pension hike, Centre to SC
Earlier, the bench had come down heavily on the Centre for failing to take any decision for years on the pension payable to retired regular captains in accordance with the OROP scheme and imposed a fine of Rs 2 lakh on it New Delhi: The Centre on Thursday told the...
Govt wants to make Post Offices backbone of rural India for financial inclusion: Minister
Minister of State for Communications Chandra Sekhar Pemmasani said while on average national banks have 20 per cent of women's accounts, after the initiation of India's Post Payments Bank more than 45 per cent of women's accounts have been opened in them. New Delhi:...
Fitch revises global reinsurance sector outlook to ‘Neutral’
``Given the sector’s abundance of capital, we expect a moderately softer and more competitive market in 2025, barring significantly above-average loss activity in 2H24. However, underlying margins are likely to remain close to their 2023-2024 peak as reinsurers...
Global insured NatCat losses over $135 billion in 2024 , says Swiss Re
Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says: "Economic development continues to be the main driver of the rise in insured losses resulting from floods, but also other perils, seen over many decades. However, with natural catastrophe risks rising and...
Italy makes it mandatory for companies to buy climate risk covers
Most Italian businesses — especially small and mid-sized ones — have no protection at all. The new law will require companies to buy coverage and insurers to write policies or face fines. The plan is backed by a €5 billion ($5.3 billion) reinsurance fund, set up by a...