Insurance Regulatory and Development Authority of India(IRDAI) has released a draft notification on third-party motor insurance.Third-party insurance is the portion of an insurance policy that protects you if you’re held legally responsible for a physical injury or damage to someone else’s property. The notification proposes a 15% hike in third party (TP) motor insurance premium… Continue reading Third party motor insurance premium to get pricier as IRDAI revises rate card
Category: Daily Factly articles
U.S. warship sails in disputed South China Sea amid trade tensions
The United States military has said that one of its warships sailed near the disputed Scarborough Shoal which is claimed by China in the South China Sea. This move comes against a background of increased tensions between the US and China as they had failed to reach trade deal.The US military has said that its… Continue reading U.S. warship sails in disputed South China Sea amid trade tensions
Pakistan needs aggressive diplomacy to exit FATF grey list: official
Financial Action Task Force (FATF) has said that Pakistan needs to launch a diplomatic effort to secure enough support to come out of the greylist or to prevent itself from falling into the blacklist. This statement came after a 10-member Pakistani delegation attended a meeting of the Asia-Pacific Group (APG) where it defended Pakistan’s efforts… Continue reading Pakistan needs aggressive diplomacy to exit FATF grey list: official
West Bengal climber goes missing after scaling Mount Makalu
According to the reports,an Indian climber has gone missing from the high camp of Mt Makalu in eastern Nepal. A search team has reached the area from where the climber is suspected to have gone missing.However,they have failed to trace him. Mount Makalu is the fifth highest mountain in the world at 8,485 meters (27,838… Continue reading West Bengal climber goes missing after scaling Mount Makalu
RBI against special NBFC window
The Reserve Bank of India (RBI) is not ready to offer a special lending window to stressed non-banking finance companies(NBFCs).The RBI may have to provide liquidity to all the NBFCs approaching it for funds if such a special window is opened. NITI Aayog has made a strong case before RBI for a special lending window… Continue reading RBI against special NBFC window
BUILD to shape future of Indian aerospace
Boeing has announced the launch of Boeing University Innovation Leadership Development (BUILD) programme for university students, faculty and early-stage start-ups in India. The programme will help innovators convert their ideas into viable business offerings that have the potential to shape the future of Indian aerospace and defence. Applicants can submit their ideas in the fields… Continue reading BUILD to shape future of Indian aerospace
India cuts off UN panel after Jammu & Kashmir report
India has informed the United Nations Human Rights Council(UNHRC) that it has decided to cut off any communication with the UNHRC Special Rapporteurs. The term rapporteur is a French-derived word for an investigator who reports to a deliberative body.Special rapporteur are titles given to individuals working on behalf of the United Nations (UN) within the… Continue reading India cuts off UN panel after Jammu & Kashmir report
U.S. Ambassador to China makes rare Tibet visit
US envoy to China is on a visit to the Tibet autonomous region.This is the first visit to the region by a U.S. ambassador since 2015 amid escalating trade tension between China and the US. China tightly restricts access to Tibet by foreigners, especially journalists and diplomats. In response to that lack of access,the U.S… Continue reading U.S. Ambassador to China makes rare Tibet visit
Defence companies can self-certify product quality: Ministry of defence
The defence ministry has announced a policy which will allow private defence firms to self-certify the quality of their products.The policy also covers the defence public sector units (DPSUs). The objective of the policy is to promote ease of doing business and achieve the vision of ‘Make in India’.As per the policy, a mechanism will… Continue reading Defence companies can self-certify product quality: Ministry of defence
After RBI, Sebi & IRDAI launch initiatives to boost startups
Securities and Exchange Board of India(SEBI) and the Insurance Regulatory and Development Authority of India(IRDAI) has announced sandbox initiative to encourage startups in their segments by making data and systems available to them. A sandbox is an enabling infrastructure or interface which is made available to an outside innovator or fintech by a bank so… Continue reading After RBI, Sebi & IRDAI launch initiatives to boost startups
