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Digital payments sees significant growth in tier II, III towns
The report said that on August 6, 2021 – which marks the completion of 500 days of pandemic-related restrictions — a new lifestyle for disruptors and disruptive businesses has emerged with digital payments as its financial backbone.
Not a single sector has shown negative growth during the last 250 days, reflecting their openness to innovation and acceptance of digital modes of payments, it said.
73% of Indian firms expect customer data breach in next 1 year
Nearly 57 per cent Indian organisation among those surveyed said it was somewhat to very likely that they’d suffer serious cyber-attacks in the next 12 months.
While 34 per cent suffered more than 7 cyber attacks that infiltrated networks/systems, 20 per cent had more than 7 breaches of information assets.
Maha: 64 kin of victims of twin landslides in Raigad receive Rs 5 lakh compensation each
RBI to penalise banks for non-availability of cash in ATMs from Oct 1
In this connection, it said a review of downtime of ATMs due to cash-outs was undertaken and it was observed that ATM operations affected by cash-outs lead to non-availability of cash and cause avoidable inconvenience to the members of the public.
It has, therefore, been decided that the banks/ White Label ATM Operators (WLAOs) will strengthen their systems/ mechanisms to monitor the availability of cash in ATMs and ensure timely replenishment to avoid cash-outs, the central bank said.
”Any non-compliance in this regard shall be viewed seriously and shall attract monetary penalty as stipulated in the ‘Scheme of Penalty for non-replenishment of ATMs’,” the RBI said.
International
Gallagher expands Asian presence with stake in specialist Malaysian broker
As an aviation-centric broker since 1974, SP&G represents a natural and complementary fit with Gallagher’s global aerospace division, which has operations in the UK, US, Canada, Australia, New Zealand and 10 other countries spanning Europe, Latin America and Asia — but, to date, no on-the-ground operation in Malaysia.
Prudential Vietnam and SeABank establish exclusive bancassurance partnership
Capsicum Re launches aviation reinsurance team
Matt FitzGerald, Managing Partner of the London Property and Specialty division, said: “2019 was a challenging year for the aviation market having suffered from years of declining rates and notable loss activity.However, there were also a number of positive developments: our joint venture partner Gallagher acquired JLT’s global aerospace division, there were a number of new entrants into this class as well as exits and there is an upwards pricing momentum in the aviation market. We are entering this market as we see an opportunity to bring our client focused, holistic entrepreneurial approach to this sector.”
Guy Carpenter appoints Jeff Saper as CEO of Pacific Region
In his new role, Mr. Saper will be responsible for overseeing the company’s Treaty and Facultative activities in the Pacific region and will focus on further developing its growth strategy and strengthening its capabilities. Based in Sydney, Mr. Saper will report to Tony Gallagher, Asia Pacific CEO.
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