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RBI prescribes qualifications for MDs, WTDs of urban cooperative banks
it has been decided that all UCBs having asset size of Rs 5,000 crore or above, shall appoint a Chief Risk Officer (CRO). The Board must clearly define the CRO’s role and responsibilities and ensure that he/she functions independently,” the circular said. The CRO should have direct reporting lines to MD/CEO or Board or the Risk Management Committee of the Board (RMC), it added.
Maharshtra shuts malls, cinemas as new variant spreads
Now in 85 countries, Delta variant expected to become dominant lineage: WHO
WHO noted that since the last detailed update on June 8, new evidence has been published on the phenotypic characteristics of the Delta variant. A study from Singapore showed that infection with Delta variant was associated with higher odds of oxygen requirement, intensive care unit (ICU) admission, or death, it said.
Bezos’ 2021 Space Odyssey a risk too far for insurers
There is a nearly $500 million market to insure satellites, rockets and unmanned space flight, but no legal requirement for an operator such as Blue Origin, which Bezos founded, to insure passengers for injury or death or for space tourists to have life cover, brokers and insurers said.
“We’re not aware of a case where anybody is insured against passenger liability,” Neil Stevens, senior vice president, aviation and space at Marsh, the world’s biggest insurance broker, told Reuters.
SpiceXpress, Delhivery join hands for commercial drone delivery
Drone delivery is the future of logistics and both companies have joined hands to experiment with drone technology to provide state-of-the-art services and make it more popular in the coming years.
The technology will be tested for several commercial applications like emergency services, delivery of goods, critical medical services and environmental monitoring. Delhivery will provide the necessary on-ground support to ensure speedy and reliable first-mile and last-mile logistics.
S&P cuts India’s FY22 growth forecast to 9.5 pc
One shot of Pfizer, AstraZeneca vax offers 60% protection against Covid
“However, even beyond four weeks, a single vaccine dose does not eliminate infection risk, highlighting the continued importance of non-pharmaceutical measures to control transmission within long-term care facilities,” said Madhumita Shrotri and Laura Shallcross, from the UCL Institute of Health Informatics.
The study will be critical to inform policy decisions regarding revaccination schedules in this vulnerable population and the disease control measures needed in the short, medium, and long term to protect long-term care facilities from future waves of SARS-CoV-2 infection, the team said.
Adani’s Bravus pushes ahead with new Australian thermal coal mine
The International Energy Agency (IEA) warned last month that investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century.
But Australia, the world’s top coal exporter, is considered a global laggard in climate change policy as, unlike many other developed countries, its Prime Minister Scott Morrison has not set out a path to zero emissions by 2050.
Agreement in principle reached over Suez Canal ship dispute
The SCA had demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue before publicly lowering the request to $550 million.
“We agreed to settle this issue in a peaceful way without going through the courts and agreed on a final settlement. The deal is being drafted and will be reviewed,” Suez Canal Authority (SCA) Chairman Osama Rabie told a local Egyptian television programme late on Wednesday.
Caregivers in crisis: Pandemic begins to ebb but trauma persists
The trauma of dealing with the illness lasts much longer than the illness itself, said psychiatrist Jyoti Kapoor.
“This has taken a toll on the psychological health of most caregivers with longer lasting symptoms similar to PTSD. There has been an increase in instances of acute stress reaction, panic attacks, psychosomatic manifestations and psychosis in Covid patients.
G20 nations recommit to shaping human-centred recovery
“The crisis has impacted some sectors and groups much harder. In particular, it has hit women and youth, along with those in the informal economy.Those are also the groups facing the most difficult situations today and the biggest risk of being left behind in the months and years ahead,”ILO Director-General Guy Ryder said.
Ryder outlined the cataclysmic impact of COVID-19, which has led to the loss of the equivalent of 161 million full-time jobs in the G20 nations. This, he said, represents a world of work crisis four times as severe as the one triggered by the financial crisis of 2008/09.
Azentio Software acquires insurance digitalisation specialist Candela Labs
European Commission plans cyber unit to tackle online crime in EU
EU watchdog tells banks to have a 10-year climate plan
Climate risks can include “physical” or weather-related events like floods, and “transition” risks from sudden changes in asset values.
A report from the European Banking Authority (EBA) on Wednesday set out recommendations for banks and their supervisors for approaching ESG risks and help the EU meet its goals of cutting carbon emissions by 2050.
Google expands Jio partnership with Indian smartphone, cloud tie-ups
India is the world’s second-biggest mobile market with about 530 million smartphone users, but more than 300 million people still use legacy feature phones, Hong Kong-based tech consultancy Counterpoint Research says.
“This (the smartphone) is a testimony to a global technology giant and a national technology champion working together to make truly a breakthrough product that can be first introduced in India and then taken to the rest of the world,” Ambani said.
He did not specify a price but promised it will be the most affordable smartphone “not just in India, but globally”.
Reliance to set up 100 GW solar power plant, to invest Rs 75k in clean energy business
Reliance will set up 100 GW of solar power generating capacity.
`We plan to build four Giga Factories to manufacture and integrate all critical components of new energy ecosystem solar photovoltaic module factory, energy storage battery factory, electrolyser factory, fuel cell factory,” Ambani said.
These four factories will involve an investment of Rs 60,000 crore.