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Spandana Sphoorty Financial reports Rs 7.80-cr cyber fraud incident
Microlender Spandana Sphoorty Financial on Monday disclosed a cyber fraud incident involving unauthorised transactions of Rs 7.80 crore debited from one of its bank accounts on November 1. The company said the unauthorised transactions of approximately Rs 7.80 crore...
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Chouhan asks officials to draw up strategy on drought, cyclones, erratic rain
Shivraj Singh Chouhan,Agriculture Minister "Formulate a concrete strategy in the best interest of farmers," Chouhan directed the officials, emphasising that the government must approach the farmers' crisis with the utmost sensitivity, ensuring that there are no...
Pilots body seeks immediate safety review of commercial helicopter operators in Uttarakhand
Urging the ministry to audit helipads and passenger movement arrangements, it asked it to ensure that operational clearances are supported by current weather information and an effective safety risk assessment. Mumbai: Federation of Indian Pilots (FIP) on Monday...
BoB ups cyber defences after attack, sees tech spend topping normal thresholds
Debadatta Chand, MD&CEO, Bank of Baroda It is very difficult to estimate the exact jump in tech spending above normal thresholds at this point in time, its managing director and chief executive Debadatta Chand told PTI, adding that the July incident involving a...
Binance’s $6.3 Billion Hack: How Crypto insurance works
When a crypto exchange suffers a hack, losses can be covered through a combination of insurance payouts, the company’s own capital and emergency funds set aside to compensate customers. Hackers stole $6.3 billion from Binance in the world’s biggest crypto heist,...
Create a culture of addressing policyholder grievances proactively, Seth urges insurers
Ajay Seth, Chairman, IRDAI The Indian insurance industry has made significant progress in expanding coverage, but the number of unresolved grievances remains a concern. As on 31st March, 2026, approximately 2.21 lakh cases were pending before Consumer Commissions and...
Nat Cat claims pull GIC Re’s net profit down 14% to Rs 2456 cr in Q2FY27, Prm rises 17% to Rs 11,228 crore
``At GIC Re, underwriting discipline remains our main anchor. We will continue to balance competitive positioning with prudent risk selection to support our cedants dependably. For our domestic portfolio, we maintain our commitment to market stability by ensuring...
New India focuses on underwriting, technology for profitable growth: CMD
“Q2FY27 has been one of the most challenging quarters for the company in recent times, more so while succeeding another equally challenging one for the entire industry,” said Dr Lavanya R. Mundayur, CMD, New India Assurance. Mumbai: Dr Lavanya R. Mundayur, CMD, New...
Govt sets up high-level banking reform panel headed by former CVC Suresh N Patel
Suresh N Patel, former Central Vigilance Commissioner Besides Patel as chairman, the panel will include RBI Deputy Governor Shirish Chandra Murmu, former Indian Bank MD and CEO Padmaja Chunduru, and former RBI Deputy Governor N S Vishwanathan as members. New Delhi:...
AU Small Finance Bank probes potential data leak
The threat actor claimed to have obtained customer and internal corporate data, including KYC records, personal identification documents, PAN and Aadhaar details, credit reports, bank statements, loan applications, signed agreements, insurance records, CRM data,...
Uttarakhand Chopper crash: All 6 on board have died,insured with New India Assurance
The ill fated helicopter has been insured by state owned New India Assurance. The value of the crashed helicopter is around Rs 25 crore, said market sources. Most of the claim amount which will be paid by NIA will be recovered from reinsurers including GIC Re, said...
Centre notifies National Social Security Board, bringing gig & platform workers under Labour Codes
The National Social Security Board shall recommend to the Central government the framing of suitable schemes for different sections of unorganised workers, gig workers and platform workers. New Delhi: The government has notified the National Social Security Board for...
India records one of the fastest poverty declines in the world, poverty down from 27.1% to 2.6%: World Bank
The report attributed the decline mainly to strong consumption growth, rising employment, particularly among women, and expanded social transfers, including food subsidies. Poverty is expected to decline further, although at a slower pace. The World Bank's projections...
Assam monitoring situation after glacial lake outburst in Bhutan
A flood caused by the Shintaphu glacial lake bursting its banks has washed away infrastructure at the Gasa Tshachu natural hot springs in the Himalayan kingdom of Bhutan, media reports said on Friday. Guwahati: The Assam government was closely monitoring the...