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Govt paves way for return of merchant fees on digital payments
An amendment to India's Payment and Settlement Systems Act, tabled in parliament by Finance Minister Nirmala Sitharaman, would allow the introduction of a merchant discount rate (MDR) on digital payments, according to industry and regulatory sources. NEW...
Projectile sinks Indian ship near Yemeni waters but all seafarers safe: Govt
The commercial vessel, MSV Faize Noore Oliya, sank in the Red Sea off the coast of Yemen on August 4, India's Foreign Ministry said, adding that it is coordinating with the Yemeni authorities over this incident. A projectile struck an Indian-flagged vessel near...
LIC Offer For Sale gets 3.32 times institutional demand; government to exercise green shoe option
"Offer for Sale in LIC received an overwhelming response from the institutional investors and was over-subscribed 3.32 times of its base size. This enthusiastic participation reflects robust investor confidence and the depth of India's capital markets. In view of the...
SC extends mandatory TP vehicle insurance period by one yr, asks IRDA to implement it immediately
The Supreme Court directed third-party insurance period for new vehicles be extended by one year, ordering that new cars must henceforth be covered for four years and new two-wheelers for six years at the time of purchase It directed all stakeholders to comply with...
SC issues nationwide directions to tackle digital fraud, asks RBI to circulate SOP on mule accounts
Seeking greater accountability, the bench asked the authorities to submit a report containing state-wise and bank-wise details of grievances registered and disposed of under the cyber fraud redressal mechanism.It further directed authorities to ensure the prompt...
14 Injured as Air India’s Phuket-Delhi flight encounters severe turbulence
Flight AI 2379, an Airbus A320 carrying 134 passengers, was approaching Delhi on Tuesday morning when it encountered intense weather conditions. The aircraft reportedly shook violently and tilted sharply for several minutes, causing panic among passengers. New...
Breaking Silos: Unlocking next growth journey
India’s insurance market is entering a new phase where distribution scale alone will no longer determine growth. As customer journeys become increasingly digital and interconnected, insurers must bring product, underwriting, technology, marketing, operations and...
War Risk Insurance: Preparing for a new Geopolitical Reality
Rising geopolitical tensions are turning war from a distant threat into a tangible business risk for Indian companies exposed to global trade, shipping and supply chains. With conventional insurance policies largely excluding war-related losses, businesses need to...
EV Transition: Plugging in new insurance solutions
India’s electric mobility revolution is moving from promise to reality, with EV sales recording strong growth across segments. As adoption accelerates, insurers must rethink traditional motor cover to address battery risks, charging infrastructure, specialised...
OpenAI finds evidence other AI agents escaped containment as it widens hacking probe
AI safety experts said the new disclosures paint a portrait of a group of cutting-edge labs whose ability to develop dangerous autonomous hacking agents outstrips their ability to keep them under control. OpenAI has discovered other instances in which autonomous...
Hackers hit Bitcoin’s safest hiding place in ongoing attack
Hackers have found a software flaw in a brand of “cold” Bitcoin wallet — considered one of the safest places to store cryptocurrency — and are siphoning tens of millions of dollars in an ongoing attack. Hackers have found a software flaw in a brand of “cold” Bitcoin...
Wildfires fan record sales of Cat Bonds to backstop risk
Wildfire risk is now the fastest-growing category of natural-catastrophe peril globally, with insured losses rising roughly 12% a year, according to KatRisk, a risk modeling firm. At the same time, investors are getting more comfortable with the financial models being...
SC says catastrophically injured child loses childhood, dignity and future, enhances compensation
Recomputing the compensation under various heads, including future earnings, attendant charges, pain and suffering, loss of amenities and future prospects, the Supreme Court enhanced the compensation to Rs 83.38 lakh with interest at 9 per cent per annum from the date...
US FAA certifies Boeing 737 MAX 7 in win for planemaker
Boeing has faced a more stringent certification process since two fatal MAX 8 crashes in 2018 and 2019, as well as scrutiny of the company's production and quality systems after a January 2024 mid-air cabin panel blowout on a nearly new Alaska Airlines MAX 9. The U.S....
India sees post-Covid dip in highway fatalities as safety measures pay off
According to figures tabled in the Lok Sabha by the Ministry of Road Transport and Highways (MoRTH), deaths on national highways and centrally managed expressways dropped 4.1 per cent in the past year, sliding from 64,772 to 62,122. New Delhi: For the first time since...
Average cost of data breach in India hits record Rs 25 crore: IBM Report
"India's accelerating AI adoption is creating immense opportunities for innovation, but it is also enabling cyber threats to evolve rapidly. The findings underscore that organisations using AI and strong governance, were significantly better positioned to fend off...
Domestic investors overtake FIIs in Indian equities as DII ownership hits record high
Over the past 22 months, DIIs have invested a record $166 billion in Indian equities, more than offsetting cumulative foreign outflows of $58 billion during the same period. Mumbai: Backed by strong mutual fund inflows and sustained retail participation, DIIs have not...
100 pc FDI can make insurance more cheaper: Sanjeev Mantri
Sanjeev Mantri,MD&CEO, ICICI Lombard General Insurance said that the penetration will not suffer even if regulator Irdai changes the commission structures to the proposed persistency-based one rather than the long-standing one of payments to distributors over the...