The Insurance Regulatory and Development Authority of India (Irdai) has asked the insurance companies to undertake "suo motu" settlement of claims for the victims of the Odisha train tragedy, The Economic Times (ET) reported on Monday. The insurers have been asked to "immediately" contact the administration and get the list of those who have died or been injured.

Under suo motu settlement, the companies settle the claims even without the other parties applying for it. This is usually done after natural disasters.

Shares of Tata Motors hit an over six-year high of Rs 542.20, up 1 per cent on the BSE in Monday's intra-day trade, after the Tata group signed an outline deal with the Gujarat government last Friday (June 2) to build a lithium-ion cell factory with an investment of about Rs 13,000 crore. The move comes as India is looking to create its own electric vehicle (EV) supply chain.

Tata Motors already has a plant operational at Sanand, and has also acquired the adjoining Ford Motors' plant. The process of integration of the two plants has begun and may take up to one year to complete, Reuters reported.

In the first two months of 2023-24 (April and May), the total loan disbursals via Paytm stood at Rs 9,618 crore, according to a regulatory filing by its parent One97 Communications Ltd on Monday. This is 169 per cent higher than Rs 3,576 crore recorded in these two months last year. In May alone, the platform lent loans worth Rs 5,502 crore.

The total number of loans was up 54 per cent to 8.5 million during the period as compared to 5.5 million in the same period last year.

Two days after the three-train crash that resulted in 275 deaths and 803 injuries in Odisha’s Balasore district, the Ministry of Railways has recommended an investigation by the Central Bureau of Investigation (CBI) into the incident, Union Railways minister Ashwini Vaishnaw announced on Sunday.

“Keeping in mind the circumstances of the accident and the administrative information that has been received, the Railway Board has recommended a CBI investigation going forward,” he told reporters in Bhubaneswar.

Congress leader Rahul Gandhi on Friday told members of the Indian American community here that India is currently experiencing a "fight" between two different ideologies and exuded confidence that all opposition parties are joining hands for an "alternative vision" of the country to that of the ruling BJP.

Making his last public appearance during his two-day visit to the US Capitol, Gandhi said that when he meets the non-Congress opposition parties, he has always emphasised that it is very important that they fight unitedly.

President Joe Biden is expected to sign legislation on Saturday to raise the debt ceiling, just two days before the US Treasury warned that the country would struggle to pay its bills.

The bipartisan measure, which was approved this week by the House and Senate, eliminates the potential for an unprecedented government default.

Former Delhi deputy chief minister Manish Sisodia arrived at his residence from the Tihar jail on Saturday, after getting interim relief to meet his ailing wife.

The Delhi High Court on Friday allowed the AAP leader, arrested in cases related to alleged irregularities in the city government's excise policy, to meet his ailing wife at his residence.

As rescue work continues unabated to pull out survivors and dead from the wreckage of the triple train crash in Odisha’s Balasore district, one coach was buried into the ground due to the impact of another one falling on it. Rescuers have deployed huge cranes and bulldozers to raise the coach, PTI reported.

The coach “was pushed into the ground” as another from a neighbouring train collapsed on top of it, passengers were quoted as saying. Work is on to try and extricate the particular coach and retrieve the dead in it. A state disaster relief officer said “this will push up the death toll significantly.”

The Tata group signed an outline deal with the Gujarat government on Friday on building a lithium-ion cell factory with an investment of about Rs 13,000 crore ($1.6 billion). The move comes as India is looking to create its own electric vehicle (EV) supply chain.

According to sources close to the development, the decision to set up the EV battery plant at Sanand, Gujarat, was taken earlier this week at a Tata Sons board meeting.

At least 238 passengers were feared dead and more than 900 seriously injured in a major rail accident involving two express trains in Balasore district of Odisha on June 2 evening.

The accident took place at around 7 p.m. when two coaches of 12864 (SMVB-HWH) Yashwantpur-Howrah Express derailed near Bahanaga Railway station in Balasore district. The derailed coaches tossed over to the adjoining track and hit the speeding 12841 Coromandal Express coming from the opposite direction. It led to derailment of about 17 bogies.

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