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India bans Mastercard from issuing new cards in data storage row

In a notification, the RBI said Mastercard had not complied with data storage rules from 2018 that require foreign card networks to store Indian payments data “only in India” so the regulator can have “unfettered supervisory access”.

Covid-19: Third wave of pandemic looks more real now, says report

The risks are real and rising because the pace of vaccination has slowed down to under 3.4 million doses daily from 4 million earlier and also as many as 45 per cent of the daily infections are being reported from rural areas, points Tanvee Gupta-Jain, the chief economist at UBS Securities India.

India accounted for highest number of govt requests for account info in Jul-Dec 2020: Twitter

India also ranked second in terms of volume of legal demands for content removal, after Japan, Twitter — which has an estimated 1.75 crore users in India — recently appointed a Resident Grievance Officer, days after it designated a Chief Compliance Officer, and also released its first India Transparency Report on Sunday to comply with the new IT rules.

Hospitals’ revenue likely to grow 20-22% in FY2022: ICRA

“Overall, ICRA expects at least 200 bps improvement in profitability in FY2022, though the margins are expected to moderate from the level seen in Q4 FY2021 due to normalisation of some of the cost-cutting measures and higher proportion of Covid-19 treatment. Further, the restrictions on treatment charges for Covid-19 patients in certain states could keep the margins in check,” ICRA Assistant Vice President & Sector Head, Mythri Macherla, said in a statement.

International

French reinsurer SCOR reports 62% rise in net profit during 2nd quarter

Company CEO Denis Kessler mentioned that there had been higher than expected costs related to natural catastrophes in the U.S. and in Japan in late 2018, that were booked in the first quarter of 2019.There were also costs associated with Brexit, which forced the reinsurer to incorporate new firms outside the U.K.

African Swine fever detected at another Bulgarian Pig Farm

Bulgaria, a European Union member, has also reported around 20 cases of the disease in dead wild boars, in various regions, including border provinces with Romania.Experts say 500,000 pigs could be culled due to the highly contagious disease that does not, however, affect humans.

AIG appoints first chief sustainability officer

To provide greater transparency into this strategy and align reporting activities with industry standards, the company has issued its first Task Force on Climate-related Financial Disclosures (TCFD) report.

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