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New IRDA chief Panda launches `Reforms 2.0′ for Indian insurance industry
Debasish Panda,chairman, IRDAI ``After two-decades of liberalisation, the Indian industry is matured and have to be given more freedom in fixing market determined pricing and launching innovative products,’’ said Panda, who retired as secretary of the department of...
Air India cancels Delhi-Moscow flight over insurance issues amid war
The Air India's Delhi-Moscow flight that was scheduled to operate on Thursday stands cancelled, the sources said They stated that the flight was cancelled as it was feared that the insurance may not be valid in Russian skies New Delhi: Air India on Thursday cancelled...
Suspected Chinese hackers collect intelligence from India’s power grid
The hackers focused on at least seven “load dispatch” centers in northern India that are responsible for carrying out real-time operations for grid control and electricity dispersal in the areas they are located, near the disputed India-China border in Ladakh, the...
“Every Indian should have at least one life insurance and a health cover ” says new IRDAI chief unveiling his new industry agenda
Debasish Panda, chairman, IRDAI IRDA chief has hinted that insurers don’t need IRDAI approvals for every product ``Each life insurer has actuaries to design their products that can be approved its own board. You should design product so that you can reach out every...
Maruti to recall 19,791 Eeco units to rectify marking of wheel rim size
In a routine inspection, the country's largest carmaker found that in some units of Eeco, manufactured between July 19, 2021 and October 5, 2021, the wheel rim size was incorrectly marked, the company said in a regulatory filing New Delhi: Maruti Suzuki India (MSI) on...
India detects first ‘XE’ variant of COVID-19 in Mumbai
However, the Union Health Ministry is yet to confirm the detection of the first XE variant in the country According to the sources, the Indian SARS-CoV-2 Genomics Consortium (INSACOG) is doing a deep genomic analysis of the case as a follow-up declared XE positive by...
Big online firms face 0.1% supervisory fee under new EU rules
The move comes as the Commission seeks new sources of revenue to fire up the region's economic growth in the wake of the pandemic and also foster a greener and more digital economy. "The overall amount of the annual supervisory fees shall be based on the estimated...
8 reasons not to give up hope - and take climate actionAlthough once again the scientific community has made clear this week that we are not doing enough to limit global warming to the crucial 1.5°C threshold, the findings of the latest Intergovernmental Panel of...
Insurer Tokio Marine says Greensill took out policies fraudulently
Credit Suisse said in a statement that the insurance policies were valid, and that it would also “vigorously defend” its position to preserve the rights of the supply chain finance funds and their investors Companies linked to insolvent British financier Lex Greensill...
HDFC Bank’s $40 billion deal may face regulatory hurdles over insurance, analysts say
HDFC Life and HDFC ERGO are among the leading life and general insurance companies in the private sector, and analysts say the RBI is unlikely to be comfortable with the size of the insurance operations the deal will give the bank Mumbai: HDFC Bank's $40 billion deal...
Solar Storm to Hit Earth, Airlines to monitor radiation levels
A G3 storm can trigger false alarms for protection devices in power grids, create drag on low-orbiting satellites and disrupt high-frequency radio traffic In early February, Space X lost 40 Starlink satellites when they were launched into a geomagnetic storm A solar...
18th SIRC 2022 will be an in-person event during Oct 31- Nov 3, 2022
“Our unswerving focus is to ensure that this year’s SIRC is as close as possible to the last pre-pandemic event held in 2019 - delivering both leading-edge insights and unparalleled networking opportunities,” said SRA Chairman Marc Haushofer It will have an online...
Govt may scale down size of LIC IPO to Rs 50,000 crore, may launch it in mid-May
The government and its advisers are considering seeking a valuation of about 1.25 to 1.5 times LIC’s embedded value, the people said. Officials are still discussing potential terms of the offering, and the fund-raising target could still change, the people said...
Shanghai extends lockdown to entire city as tests show COVID spread
The costs to the world's second-biggest economy mount. Some 23 Chinese cities are under total or partial lockdown, affecting an estimated 193 million people in areas accounting for 13.6% of its gross domestic product, the Nomura brokerage said in a note on Tuesday...
Passenger vehicle retail sales dip 5 pc in March to 2,71,358 units: FADA
''Passenger vehicles continue to see high demand and long waiting periods as semiconductor availability still remains a challenge, even though supplies slightly improved from previous month,'' FADA President Vinkesh Gulati noted New Delhi: Domestic passenger vehicle...
British insurer Aviva becomes second FTSE firm with female CEO, CFO
Jones' appointment adds to a growing list of women taking up senior executive positions at British firms. Natwest Group is the other FTSE 100 firm with a female CEO-CFO duo London: British insurer Aviva on Monday named Charlotte Jones as its next chief financial...
London marine insurers label all Russian waters high risk
Marine insurers said any rise in premiums was expected to take a few days after a notification period Russia's maritime sector is grappling with the winding down of services including ship certification by leading foreign providers - needed for accessing ports and...
Chhattisgarh tops states with lowest unemployment rate in country: Govt
The state government has set up the 'Chhattisgarh Employment Mission' intending to create around 15 lakh new employment opportunities in the next five years. Chhattisgarh has been ranked first among states with the lowest unemployment rate in the country, an official...