The Insurance Regulatory and Development Authority of India (IRDAI) has asked all general insurance and standalone health insurance companies to mobilise all resources to ensure immediate service response including engaging the services of investigators, surveyors and loss adjustors for quick settlement of claims arising out of the havoc created by the floods in Northern parts of the country.

The regulator said insurers have been advised to communicate the nomination of a Senior Executive in each affected State / UT to the Chief Secretary/ Officer concerned of the State immediately.

The National Stock Exchange of India (NSE) has rapped Angel One for failing to monitor the operations of its authorised persons (APs), which resulted in alleged violation of capital market regulations.

The exchange, in an order dated July 14, has slapped a monetary penalty of Rs 1.67 crore and prohibited the brokerage from onboarding new APs for a period of six months. NSE has directed Angel One to conduct inspection of all its APs and submit a report within six months.

China — the world's largest bilateral creditor to low- and middle-income countries — is yet to come on board for a common understanding on debt resolution for such nations, said sources in the know about discussions at the third meeting of G20 Finance Ministers and Central Bank Governors (FMCBG) here.

The debt crisis, a priority area for India in G20 discussions, has been aggravated following the Covid pandemic, and talks have taken place between the World Bank, the IMF, and China, as well as private lenders.

From 15 in Patna, 26 opposition parties are expected to attend the two-day brainstorming session in Bengaluru starting Monday. As per sources, the united opposition is likely to begin working on a common minimum programme and announce a joint agitational plan against the BJP-led NDA for the 2024 Lok Sabha Elections. New parties joining the front are expected to include MDMK, KDMK, VCK, RSP, Forward Bloc, IUML, Kerala Congress (Joseph) and Kerala Congress (Mani).

Delhi Chief Minister Arvind Kejriwal on Saturday said the water level of the Yamuna in the national capital is receding slowly and the situation will normalise soon if there is no more heavy rainfall.

With several parts of the city still inundated, the chief minister also urged people to avoid waterlogged areas. Tagging a video of children playing in floodwaters in Delhi's Shanti Van, he said, "I urge everyone to avoid this. It cud be fatal."

Air India is set to add over 500 new flight crew members into service in each of the coming months, the airline’s chief executive officer and managing director Campbell Wilson said in a message to employees.

Wilson said that the airline was investing in a “leading-edge software,”expected to be completely operational by early 2024, to enable the flight crew to be quickly reassigned and passengers immediately rebooked if the airline faced a disruption. Business Standard had reported the same in June.

Amid increasing cooperation in the defence sector between the two nations, India is setting up a technical office of the DRDO (Defence Research and Development Organisation) at its embassy in Paris, according to the India-France joint statement on Friday.

France is one of India's most important allies in building a self-sufficient defence industrial and technological foundation, the statement informed, adding that the co-development and co-production of cutting-edge defence technologies for the benefit of third nations is a joint commitment of India and France.

West Bengal's ruling Trinamool Congress has dubbed Union Home Minister Amit Shah's remarks on violence in the state's panchayat polls as "distasteful and insensitive", and wondered about the role of his ministry in restoring peace in strife-torn Manipur.

TMC national spokesperson and Rajya Sabha leader Derek O'Brien said instead of showing compassion to grieving families of those who died in the violence, the BJP leader is gloating over vote percentage.

Tata Group is understood to be in advanced stages to acquire the Karnataka manufacturing unit of Taiwan-based Wistron, a contract manufacturer for Apple, to become the first Indian iPhone maker, sources said.

The acquisition will be carried out through Tata Electronics, a wholly-owned subsidiary of Tata Sons, the promoter holding firm of salt-to-software conglomerate Tata Group, they added.

The Indian government on Friday raised the windfall tax on petroleum crude to 1,600 Indian rupees ($19.49) per metric ton from zero, according to a government notification.

The changes will take place from Saturday, the country's Ministry of Finance said in a notification, adding that the government has left the windfall tax on diesel, petrol and aviation turbine fuel unchanged at zero.

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