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August auto sales dip due to excess rainfall, FADA urge banks to tighten funding to dealers
Despite this monthly setback, the sector witnessed a modest 2.88 percent year-on-year (YoY) growth compared to August 2023 New Delhi: Auto retail sales in India experienced a significant decline in August 2024, primarily due to excessive rainfall during this monsoon...
Crops in 1.8 lakh ha damaged due to floods in AP Agri Min Shivraj Singh Chouhan
Shivraj Singh Chouhan,Union Agriculture Minister Chouhan, who is on a two-day visit to Andhra Pradesh and Telangana to assess the flood situation, said: "The crops have suffered a lot of damage… Flowers are cultivated here, turmeric is cultivated, all the crops have...
Cybersecurity professionals limited, big challenge for future: SBI chief Setty
CS Setty,Chairman,SBI "But we also feel that the professional support for many of the cyber security activities is limited one. I think that's going to be a big challenge going forward," said Setty, who took over as the chairman of the country's largest lender late...
Moody’s acquires Praedicat, adds Casualty and Liability modeling capabilities
“As losses from catastrophic events are increasing, insurers are constantly looking for science-based casualty data and analytics,” said Rob Fauber, President and Chief Executive Officer of Moody’s NEW YORK: Moody’s Corporation announced on Thursday that it has...
Cyber Protection: Public-private action to bridge gap and boost resilience
Mario Greco, Group Chief Executive Officer, Zurich Insurance Group, said: “The threat of cyberattacks poses a significant risk to both societal and economic stability. As insurers, we can offer some degree of protection, but we must acknowledge that large-scale,...
Centre to create Aadhaar-like digital IDs for 11 crore farmers by FY27
“These IDs, created and maintained by the state governments/union territories, will be linked to various farmer-related data, including land records, livestock ownership, crops sown, and benefits availed,” said the government New Delhi: In a bid to empower the...
Former NIA CMD G Srinivasan appointed as the first CEO of Galaxy Health Insurance
G Srinivasan,MD &CEO, Galaxy Health Insurance Company Earlier, Dr S Prakash, former CEO of Star Health, who also quit Star Health along with Jaganathan, was supposed to be first the CEO of Galaxy Health Insurance. However, Prakash wants to be an investor of the...
GM to face big class action over faulty transmissions
Drivers said the vehicles shudder and shake in higher gears, and hesitate and lurch in lower gears, even after repair attempts. They also accused GM of telling dealers to provide assurance that harsh shifts were “normal.” General Motors was ordered by a federal...
Presence of women directors in active companies grew three-fold in last 10 years, says FM Sitharaman
Women are also rising on the corporate ladder and in the startup and financial technology space, about 18 per cent of 111 unicorns (valued at USD 1 billion) are led by women in India, said Nirmala Sitharaman,Union Finance and Corporate Affairs Minister Chennai: The...
Inclusivity: Star Health launches of an industry-first insurance policy in Braille
Anand Roy, MD & CEO of Star Health Insurance said, “This policy transcends traditional insurance, embodying our commitment to ensuring that individuals with disabilities receive the comprehensive support and coverage they need. We aim to build a more inclusive...
Institutional investors put in bids worth Rs 2,300 cr for GIC Re OFS
Based on indicative price of Rs 395.03 for the bids, institutional investors put Rs 2,284 crore bids for GIC Re shares as of 3:20 pm on Wednesday. Retail investors will get to bid in the OFS on Thursday New Delhi: Institutional investors on Wednesday placed bids...
Cathay Pacific grounds many flights after engine component failure
Cathay Pacific has not specified which engine component failed, but the carrier said it was the "first of its type to suffer such failure on any A350 aircraft worldwide". The source said the incident involved a leak in a system designed to inject fuel to the XWB-97...
HP to continue $4 billion damages case against Mike Lynch
HP had bought Autonomy for $11.1 billion in 2011 in one of the UK’s biggest tech deals. But in late 2012 the company said it had discovered a massive accounting scandal at the British tech firm Hewlett Packard said Monday it would continue legal proceedings to seek up...
Average annual NatCat losses for global insurance industry reaches new high of $151 billion: Verisk
“While actual annual insured losses over the past five years have been high, averaging $106 billion, they should not be seen as outliers,” said Rob Newbold, president of Verisk Extreme Event Solutions BOSTON, MA: Verisk, a global data analytics and technology...
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Govt to pay for treatment of road accident victims of uninsured vehicles
Earlier, the General Insurance Council (GI Council), the official representative body of the Indian general insurers consisting of private sector and PSU general insurers, has sued the Ministry of Road Transport and Highways (MoRTH) in Delhi High Court for asking the...