Financial Services

The NSW government has launched an inquiry into strata management firm Netstrata following revelations of excessive insurance fees, undisclosed kickbacks, and a lack of transparency. The investigation will examine the company's practices and determine if further regulatory action is needed to protect apartment owners.

The federal government has unveiled a new initiative called the Leaving Violence Program (LVP) which aims to provide financial support, safety assessments, and referrals to victim-survivors of violence fleeing abusive partners. With an allocated budget of $925.2 million over five years, the program will offer up to $5,000 in financial assistance to individuals in need.

The National Sample Survey Office (NSSO) is conducting numerous data collection exercises to provide a clearer picture of the current economic situation and update various indices, including the CPI, WPI, and IIP. These surveys cover various aspects of the economy, including employment, household consumption, industrial production, and informal sector enterprises.

The Reserve Bank of India has removed the restrictions it placed on Bajaj Finance's 'eCOM' and online/digital Insta EMI card segments, allowing the company to resume sanctioning and disbursing loans after addressing concerns raised by the regulatory authority. This decision, communicated in a letter dated May 2, 2024, signifies that Bajaj Finance is now able to restart issuing EMI cards and conducting business in the two identified se...

Indian AI startups are facing a funding crunch, with investments dropping significantly in 2023 and deal sizes shrinking. Despite the challenges, the sector remains promising, with global AI funding reaching $50 billion in 2023 and the potential for AI to contribute $4.4 trillion annually to the global economy.