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RBI panel recommends AI framework for finance sector
"The report envisions a financial ecosystem where encouraging innovation is in harmony, and not at odds, with mitigation of risk," the RBI said in a statement MUMBAI: An RBI panel has recommended that banks and other financial institutions formulate a policy to...
Banks to clear cheques within few hours from Oct 4: RBI
To improve the efficiency of cheque clearing and reduce settlement risk for participants, and to enhance customer experience, the RBI has decided to transition CTS from the current approach of batch processing to continuous clearing with 'on-realisation-settlement'....
AI’s Ahmedabad Disaster: Crash victim’s son moves US Federal Court against Boeing
"We have hired Mike Andrews. We expect the raw details of information from the black-box to come before us at the earliest so that we can make further decisions regarding the next course of steps, along with our lawyer. In India, trials get dragged out for years. We...
African lender weighs claiming Lloyd’s payout on Zambia debt
TDB — together with the African Export Import Bank — has found itself at the center of an increasingly contentious debate about including the lenders’ facilities in sovereign-debt restructuring on the continent. While Afreximbank is adamant it won’t participate, TDB...
Swiss Re tackles longevity drug impact with life policy advice
Metformin, traditionally used to manage type 2 diabetes, and rapamycin, an immunosuppressant developed for organ transplant recipients, are part of a growing list of substances being explored for anti-aging purposes, Swiss Re said. In some cases, the medications are...
Govt finalising legislation to protect power systems from cyber attacks: MoS Shripad Naik
These regulations will ensure that the control and operation of power system elements including solar inverters, as well as the exchange of related information, including real-time data, will remain within national boundaries, the Minister of State (MoS) for Power...
Severe weather, non-timely action in re-routing plane probable causes for IndiGo incident in May: DGCA Severe weather and non-timely action in re-routing the aircraft clear of weather were the probable causes that led to IndiGo's Delhi-Srinagar flight incident where...
UK’s UIB group exits Indian re/insurance broking market, merges local JV with Edme
The exact details of the deal has not been disclosed by either parties. UIB Group had a miniority stake in the Indian insurance broker with Indorama SPL Group and Lucas & Mayo Group as majority shareholders Mumbai: UK based UIB Group, one of the largest...
Hiscox unveils a new sexual molestation liability cover
The sexual molestation liability (SML) product will also cover related legal costs and damages or settlements resulting from claims made during the policy term. In addition, SML clients will benefit from the services of global specialist risk consultancy, Control...
Jellyfish shut French nuclear reactors as heat wave builds
The “massive and unforeseen” presence of jellyfish in the filter drums of pumping stations closed four out of six reactors at Gravelines on the north coast of France, EDF said in a statement on Monday. Pumping stations for coastal nuclear plants usually draw in sea...
Emirates to ban use of power banks aboard its flights
The airline said the “significant growth” in customers using power banks in recent years has led to a rising number of lithium battery-related incidents during flight across the industry. Emirates will ban the use of power banks aboard its flights and only allow...
Nigeria insurance stocks gain most in almost 20 yrs on new law
The law, approved by Nigeria’s President Bola Tinubu, which makes insurance for property and other assets mandatory. encourages digitization and the creation of dedicated policyholder protection funds, is expected to transform the insurance industry in Africa’s most...
India sees normal monsoon rainfall some states drenched others parched
Of the 36 states and union territories for which the IMD provides figures, 25 are in the "normal" category (within 19 per cent of the long-period average), five are "deficient" (20 to 59 per cent below normal), five are in the "excess" category (20 to 59 per cent...
Trump tariffs to impact 55% of total Indian merchandise Exports To US, banks start scrutinising exporters
Lenders are asking borrowers more pointed questions when vetting new export financing proposals or renewals of such funding, the people said. They added that some export orders are being put on hold while trade negotiations play out between New Delhi and Washington...
Equity mutual funds see record inflows at Rs 42,702 crore in July: AMFI data
Retail participation saw growth, with total mutual fund folios rising to 24.57 crore in July from 24.13 crore in June. New Delhi: Equity-oriented mutual funds saw net inflows of Rs 42,702 crore in the month of July, up 81 per cent from Rs 23,587 crore in June, the...
No proposal to restore Old Pension Scheme for central government employees: FM
Nirmala Sitharaman,Union Finance Minister UPS has been introduced through a notification by the government on January 24, 2025, as an option under NPS, she said. Under UPS, she said, assured payout is admissible on retirement at 50 per cent of the twelve-month...
1,114 hospitals de-empanelled, 1,504 penalised under Ayushman Bharat Insurance scheme
"Suitable actions including de-empanelment of 1,114 hospitals, levying penalty worth Rs 122 crore on 1,504 errant hospitals and suspension of 549 hospitals have been taken against fraudulent entities as reported by the states and UTs," Minister of State for Health and...
FPIs withdraw nearly Rs 18K cr from equities in August on trade tension
With this, the total outflow by Foreign Portfolio Investors (FPIs) in equities has reached Rs 1.13 lakh crore so far in 2025, according to data from the depositories. New Delhi: Foreign investors have pulled out nearly Rs 18,000 crore from Indian equities so far this...