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Shriram Life Insurance posts Rs 156 cr net profit in FY22-23
''Our growth has advanced thanks to the adoption of technology and innovation, enabling more rural policy holders to complete their paperless statements,'' company Managing Director Casparus J H Kromhout said Chennai: Shriram Life Insurance Company has reported Rs 156...
Powerful Cyclone Mocha makes landfall in Myanmar, tearing off roofs and killing at least 3
Titon Mitra, the U.N. Development Program representative in Myanmar, tweeted: “Mocha has made landfall. 2m people at risk. Damage and losses are expected to be extensive. We are ready to respond and will need unhindered access to all affected communities.” DHAKA:...
EV penetration in India to cross 21% by 2027:Experts
With the friendly government policies and new entrants arriving on the scene with cheaper EVs, the country is set to witness a plethora of options in the next 2-3 years New Delhi: As India, which is the fourth largest car market globally, charts a new course for...
ADB President calls for regional cooperation in tackling climate change at IMT-GT Leaders’ Summit
Masatsugu Asakawa,President,Asian Development Bank ADB is intensifying efforts to deliver $100 billion in climate financing across Asia and the Pacific by 2030, while supporting a range of initiatives like the Innovative Finance Facility for Climate in Asia and the...
Govt to roll out lost mobile blocking, tracking system pan-India on May 17
''One of the common practices is that miscreants change IMEI number of stolen mobile phones which prevents tracking and blocking of such handsets. It was a national security issue. The CEIR will be able to block any cloned mobile phones on the network with the help of...
Cyclone Mocha: Overheated Bay of Bengal fuelling a climate crisis
Extreme weather hazards will occur more frequently due to climate change in the years ahead, the International Organization for Migration (IOM) warned "The linkages between climate change, migration, and displacement are increasingly pressing worldwide," it said,...
China new financial regulatory body gets a chief
The National Financial Regulatory Administration(NFRA) is a new government body under the State Council tasked with consolidating supervision over the multi-trillion dollar financial industry It will replace the CBIRC and absorb some supervisory functions from the...
Mass event will let hackers test limits of AI technology
Anyone who’s tried ChatGPT, Microsoft’s Bing chatbot or Google’s Bard will have quickly learned that they have a tendency to fabricate information and confidently present it as fact. These systems, built on what’s known as large language models, also emulate the...
Aviation watchdog issues warning on India over jet repo fight
The move by the Aviation Working Group, a UK-based entity that monitors leasing and financing laws, could raise leasing costs for Indian airlines and hurt lessors' confidence just as the world's third-largest domestic market faces record growth India has been placed...
Banks to launch 100 days campaign to trace & settle unclaimed deposits: RBI
Balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as ''unclaimed deposits'' Recently, the RBI has also announced the setting up of a centralised web portal for...
Governments across the world race to regulate AI tools
The European Data Protection Board, which unites Europe’s national privacy watchdogs, said in April it had set up a task force on ChatGPT, a potentially important first step towards a common policy on setting privacy rules on AI Rapid advances in artificial...
Max Financial Services Q4 net profit slips 64 pc to Rs 52 crore
Prashant Tripathy, managing director, Max Life Insurance Company , said, “Through our continued focus on introducing innovative products, expanding distribution strength across channels, and driving a balanced product mix, we delivered strong growth in Q4FY23.'' New...
UN agencies brace for disaster as Cyclone Mocha intensifies in Bay of Bengal
Extreme weather hazards will occur more frequently due to climate change in the years ahead, IOM warned ““The linkages between climate change, migration, and displacement are increasingly pressing worldwide,” the agency said, calling on governments to implement...
World Bank team meets Kerala CM; expresses interest in state’s carbon neutral initiatives
World Bank Vice President for South Asia Region Martin Raiser said the World Bank's 'Resilient Kerala Programme' to support the state's preparedness against natural disasters, climate change impacts, disease outbreaks, and pandemics was progressing well....
Irdai sets up expert panel for matters related to mental health
A holistic examination of the various aspects involved such as types of conditions, types of treatments etc from the insurance perspective is necessary when dealing with products designed to cover mental illnesses and other related aspects Hyderabad: Regulator Irdai...
IRDAI asks insurers to provide mandatory covers for surrogate mothers
The Surrogacy (Regulation) Act, 2021, says an insurance coverage of such amount and in such manner as may be prescribed in favour of the surrogate mother for a period of thirty-six months covering postpartum delivery complications from an insurance company or an agent...
RBI invites firms to participate in Greenwashing TechSprint
The number of investment products marketed as 'green' or making wider sustainability claims is growing. Exaggerated, misleading or unsubstantiated claims about Environmental, Social and Governance (ESG) credentials damage confidence in these products and the RBI wants...
Passenger vehicle dispatches rise 13% in April as demand remained robust: SIAM
The total passenger vehicle dispatches from companies to dealers rose to 3,31,278 units last month compared to 2,93,303 units in April 2022 New Delhi: Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April as demand remained robust...