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With cybersecurity issues evolving daily, the Insurance Regulatory and Development Authority of India (IRDAI) will focus on making the relevant changes and guiding the insurance companies as per the evolving requirement, a top insurance watchdog official said at an ASSOCHAM virtual event on Thursday. “I will say it will be evolving every day and the regulator and the insurance companies together will be focusing on improving the cybersecurity as per the need of the hour. It is not that we have reached a final stage there,” said SN Rajeswari, member, IRDAI at an ASSOCHAM National e-summit on Cyber Insurance - “Reinvigorating the Future for Bridging the Gap.” The cyber risks are not static. So, cyber insurance is also not going to be static. “There is a need to create awareness and have a cyber insurance ecosystem, cyber literacy, each agency, companies should coordinate with each other and there should be a training session to promote awareness on the risk of remote working, Rajeswari s...

Although astronomy events are those that bring awe during the night, some events can also be enjoyed during the day. One such event is the Equinox. The September Equinox will occur on September 23, 2021.  Equinox is an astronomically significant day when the duration of the day and the night on the Earth is equal. Typically, this occurs twice –in March and in September, every year. On this day, the Sun shines directly on the equator which leads to equally lit and unlit surfaces on Earth. Also, the Sun rises exactly from the east and sets exactly in the west.  A File Image Of Summer Solstice On the day of September Equinox, the Sun moves from the north to the south of the Celestial Equator (Earth’s equator extended into space), initiating winter in the Northern Hemisphere, hence the event is also known as Autumnal Equinox. Also, on this day, the Sun’s geometric centre is above the horizon for 12 hours and below the horizon for 12 hours. However, on Equinox, the day is slightly ...

Neo Banking has underlined the big necessity for digitalisation of banking and has added tremendous value to the credit side, said former finance secretary Subhash Chandra Garg at an ASSOCHAM National e-Conclave on Neo Banking - The Next Banking Revolution. Addressing a panel of fintech entrepreneurs and policymakers, Garg welcomed neo-banking as a positive development for smart digital-savvy entrepreneurs to set up businesses and encourage better credit growth. “Neo banks are tying up with licensed regulatory banks to create digital banks for the future. They are impacting MSMEs by arranging crucial credit for them in a speedy manner through digitalization." He further said, “Neo banks have brought tremendous value to the table. Based on the digitisation of the core business function of MSMEs, they facilitate better and faster credit assessment. This enables better assessment of future creditworthiness and future ability to ascertain whether the customer will repay or default. Th...

Manipal Institute of Technology (MIT) on Monday announced its big achievement in the International Rover Design Challenge (IRDC) 2021. MIT bagged the third position out of 32 teams from four countries in the second edition of IRDC which was announced by The Mars Society South Asia (MSSA).  The Mars Society South Asia (MSSA) organised  the second edition of IRDC this year. MSSA is the official chapter of The Mars Society for the South Asian region. The Mars Society is the world's largest, most influential space advocacy organization dedicated to the human exploration and settlement of Mars. MIT team - Mars Rover Manipal had to submit a system concept review (SCR) within a set time frame and scored 530 points for the submission.   Systematic Concept Review That Mars Rover Manipal From MIT Submitted Sharing the excitement of this accomplishment by MIT students, Commander Anil Rana (Retd), Director, Manipal Institute of Technology says, “Congratulations to the entire MRM...

A study of over 350 public limited corporates by CSRBOX reveals over 750 CSR projects were implemented to combat the second wave India Inc. spent over ₹1,600 crore on combatting the second wave of Covid-19 in the financial year 2020-21. A study of over 350 public listed companies conducted by CSR knowledge and impact intelligence portal CSRBOX reveals that Indian companies launched over 750 corporate social responsibility initiatives in response to the second wave and that 35% of these interventions were implemented in Maharashtra, Gujarat, Karnataka, and Uttar Pradesh. Around 57% of the CSR initiatives to combat the second wave of Covid-19 were targeted at direct beneficiaries – Covid-infected people. More than 400 of the corporate CSR initiatives to combat the second wave of infections were aimed at procuring medical supplies, ventilators, and safety gear like PPE kits. When India Inc. Rose To Help The Nation Face The Covid19 Crisis According to the report titled CSR Response to COVI...

Ahead of the festive season, there are signs of improved consumer confidence in several key sectors of the economy, including contact services like hospitality while activities in construction and renovation have been on a pick-up for the past few months leading to the return of migrant workers for gainful deployment, an ASSOCHAM assessment has noted. "Our feedback from our member companies, including those in the SMEs points towards a steady pick-up in economic activities with notable gains visible in retail trading, malls, food business and inter-state travel. With most of the states allowing entry of fully vaccinated people without RTPCR tests for Covid-19, the tourist activities have picked up in states like Himachal Pradesh, Uttarakhand, Rajasthan and Goa. Hopefully, the Covid situation would remain under control with a sharp rise in daily vaccination, leading to further pick up in tourist activities in states like Rajasthan and Goa. After a washout of the winter tourist seas...