Regulation

Lakshmi Vilas Bank-DBIL merger effective from Nov 27: RBI

Indian News       Nov 25, 2020

Mumbai: The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours...

Union IT and Communications Minister Ravi Shankar Prasad

Will finalise data protection law very soon: Ravi Shankar Prasad

Indian News       Nov 20, 2020

Bengaluru: Union IT and Communications Minister Ravi Shankar Prasad said the government was very keen to promote India as a very big centre of the data economy and would finalise a data protection law very soon. "I'm very keen to promote India as a very...

Govt appoints S.N. Rajeswari as member(Distribution), IRDAI

Indian News       Nov 18, 2020

  New Delhi: The government has appointed S.N. Rajeswari,58, Chairman & Managing Director, Oriental Insurance Company(OIC) as th member (Distribution), IRDAI on Wednesday  ``The Appointments Committee of the Cabinet has approved the appointment of Rajeswari, as Whole-Time Member (Distribution) in Insurance Regulatory and Development Authority of...

Insurers are trying to escape COVID-19 liability, watchdog tells UK Supreme Cour

International News       Nov 18, 2020

London: Insurers are trying to escape liability for pandemic-related business losses with counter-intuitive arguments that go against the essential purpose of insurance, Britain's markets watchdog told the UK Supreme Court on Tuesday. A lawyer for the Financial Conduct Authority (FCA), which brought a test case...

Indian drug firms recall various products in US market

Indian News       Nov 15, 2020

New Delhi: Indian drug firms like Marksans Pharma, Aurobindo Pharma, Zydus and Jubilant are recalling products in the US market, as per the latest enforcement report by the US Food and Drug Administration (USFDA). While Marksans Pharma is recalling diabetes drug, Zydus Pharmaceuticals (USA) is...

China regulator says financial innovation must not create oligopolies

International News       Nov 14, 2020

SHANGHAI: China should ensure financial innovation maintains fair competition and does not create oligopolies or construct barriers to entry, a Chinese regulatory official said Saturday. Xiao Yuanqi, chief risk officer at the China Banking and Insurance Regulatory Commission (CBRIC) told the Caixin Summit in Beijing...

IRDAI allows e-signature of customers for buying life insurance policies till March 2021 

Indian News       Nov 12, 2020

  Hyderabad: In a digital push, the insurance regulator IRDAI has allowed life Insurers to obtain the customer’s consent through electronic means i.e., without requiring wet signature on the proposal form,for the business solicited by individual Insurance agents and insurance intermediaries under all products, till 31st...

Swiss financial market supervisor sees pandemic's strain lasting

International News       Nov 12, 2020

Financial risks related to the coronavirus pandemic will last for months if not years, Switzerland’s financial market supervisor FINMA said on Wednesday, pointing to particularly heightened risk of defaults on corporate loans. “Thanks to the cushion of liquidity and capital they have built up over...

Still no clarity from UK to assess financial market access, says EU

International News       Nov 10, 2020

LONDON: The European Commission is still waiting for Britain to say if it will diverge from European Union rules before Brussels can decide on UK financial market access, a spokesman for the EU executive body said on Tuesday.Daniel Ferrie, the Commission’s financial services spokesman, said...

Europe charges Amazon with using its dominance and data to squeeze rivals

International News       Nov 10, 2020

  BRUSSELS: The European Union has charged Amazon with damaging retail competition, accusing the U.S. company of using its size, power and data to give it an unfair advantage over smaller merchants that sell on its online platform.The move on Tuesday by competition chief Margrethe Vestager,...

1 2 3 4