Mis-selling continues to be a key concern in the insurance sector, with the regulator asking insurers to dig deeper into the root causes behind such practices, according to the latest annual report of the Insurance Regulatory and Development Authority of India (Irdai).While the total number of grievances against life insurers remained largely unchanged at 1,20,429 in 2024-25 compared to 1,20,726 in the previous year, complaints related to Unfair Business Practices (UFBP) rose sharply. Grievances under UFBP increased to 26,667 in FY25 from 23,335 in FY24, pushing their share in overall complaints to 22.14 per cent from 19.33 per cent earlier, the report showed.Mis-selling typically refers to the sale of insurance products without proper disclosure of terms, conditions or suitability for customers. Highlighting corrective measures, Irdai said insurers have been advised to assess product suitability, put in place distribution channel-specific controls and develop structured plans to address mis-selling grievances. This includes carrying out periodic root cause analysis, the regulator noted in its annual report for 2024-25.The finance ministry has also repeatedly cautioned banks and insurance companies against mis-selling insurance products, stressing the need to maintain strong corporate governance standards, reported PTI.The regulator pointed out that mis-selling often results in customers paying higher premiums, which eventually leads to lower policy renewals and a rise in policy lapses.On sector development indicators, insurance penetration in India remained unchanged at 3.7 per cent in FY25, significantly below the global average of 7.3 per cent. Life insurance penetration declined marginally to 2.7 per cent from 2.8 per cent a year earlier, while non-life insurance penetration stayed flat at 1 per cent.Insurance density showed a modest improvement, rising to $97 in FY25 from $95 in FY24. Life insurance density increased to $72 from $70, while non-life density remained unchanged at $25. Irdai noted that insurance density has shown a consistent upward trend since 2016-17.Insurance penetration reflects premiums as a share of GDP, while insurance density measures per capita premium spend, the report explained.

Shashi Tharoor, Shaina NC (File photos)

NEW DELHI: Senior Congress leader Shashi Tharoor on Sunday weighed-in on the US strikes on Venezuela, a day before, calling it “law of the jungle”.The US carried out multiple airstrikes on Venezuela early Saturday, triggering explosions across Caracas and paving the way for the capture of President Nicolás Maduro and his wife, Cilia Flores. The dramatic escalation was confirmed hours later by US President Donald Trump. Venezuelan authorities declared a state of emergency as panic swept the capital following the attacks, which left at least 40 people dead.

Talking about the situation, the chair of the parliamentary committee on foreign affairs, replied to a post by Indian author Kapil Komireddi, saying “International law and the UN Charter have for some years now been honoured in the breach. The Law of the Jungle prevails today. “Might is Right” is the new creed.”Meanwhile, Congress leader and Member of Rajya Sabha Abhishek Manu Singhvi called it “19th-cen imperialism”. “Regime change by cruise missile, democracy delivered by warship, &sovereignty rewritten under self-styled Doctrine? Not leadership, this is 19th-cen imperialism in 21st-cen jargon. If international law matters only to weak, UN should shut shop. world deserves rules, not lunatic rulers.”AIMIM leader Asaduddin Owaisi said that US set an example that India should follow. “”Today we heard that US President Donald Trump’s forces captured Venezuelan President Nicolas Maduro and took him from his country to America. If US President Donald Trump can abduct Venezuelan President Nicolas Maduro from his own country, then you (Prime Minister Modi) can also go to Pakistan and bring back the mastermind of the 26/11 terrorist attacks to India,” he said.In response to Owaisi, BJP MP Gulam Ali Khatana said, talking to ANI, “The entire country has praised the Indian armed forces. The way terrorists were eliminated and neutralised under Prime Minister Modi’s leadership, only Prime Minister Modi’s government could have done this. Were we supposed to bring them here and feed them?”Shiv Sena leader Shaina NC also hit back at the AIMIM leader saying, “”Asaduddin Owaisi, don’t you worry. Under Prime Minister Modi’s leadership, India has become the world’s fourth-largest economy. We have demonstrated unparalleled strength through Operation Sindoor, we have launched missiles, we have eradicated terrorism from Pakistan… we have even secured the extradition of Tahawwur Rana… Unlike you, we do not engage in appeasement politics... You continue with your politics of appeasement, and we will continue doing our work.”Shaina NC also spoke about the escalating situation in Venezuela itself. “India has always maintained cordial relations with Venezuela, with strong diplomatic engagements over the years. This is a matter of grave concern, as ties with Latin America and South America have been carefully nurtured,” she said, while talking to PTI.Further referring to the MEA statement on the crisis she added, “The Ministry of External Affairs has advised that the safety of Indian nationals living there should be prioritised. No country can go around bullying the world; the situation must be viewed holistically. The global community today is worried about such actions, surgical strikes, and, above all, the safety of citizens, which must be seen from a collective global perspective.”The ministry of external affairs, in its official statement, reiterated India’s support for the safety of people in Venezuela. “Recent developments in Venezuela are a matter of deep concern. We are closely monitoring the evolving situation,” it said.“We call upon all concerned to address issues peacefully through dialogue, ensuring peace and stability of the region. The Embassy of India in Caracas is in contact with members of the Indian community and will continue to provide all possible assistance,” it added.

Indian equity markets are likely to take cues from a busy calendar of macroeconomic data, global developments and foreign investor activity in the week ahead, according to market analysts Markets are entering a data-heavy phase both in India and overseas, coinciding with the early part of the earnings season. Ajit Mishra, SVP, Research at Religare Broking Ltd, said that investors will closely monitor the final readings of the HSBC Services PMI and Composite PMI to assess domestic business conditions. “This week is expected to be data-heavy, both domestically and globally, as markets enter the early phase of the earnings season. In India, investors will track the final readings of the HSBC Services PMI (Purchasing Managers’ Index) and Composite PMI. Globally, key US macro data and releases from China will be closely watched for signals on growth, demand, and inflation trends,” Mishra said. Equities ended last week on a strong note, with the BSE benchmark rising 720.56 points, or 0.84%, while the NSE Nifty gained 286.25 points, or 1.09 per cent. The 50-share index touched a fresh all-time high of 26,340 on Friday. Attention is now expected to shift towards corporate earnings, with traders positioning selectively ahead of results from major index constituents. Ponmudi R, CEO of Enrich Money, said upcoming Services and Composite PMI data would offer further clarity on business momentum and employment trends. “Market’s focus is set to shift toward the Q3 earnings season, with traders likely to build positions selectively ahead of results from key index heavyweights. Domestically, Services and Composite PMI data will provide further insights into business momentum and employment trends…,” he said. On the global front, Ponmudi noted that US non-farm payrolls and unemployment figures would be key, as they could influence expectations around the Federal Reserve’s interest rate trajectory and overall risk appetite. While short-term volatility around major data releases cannot be ruled out, he added that the broader market structure remains positive as 2026 unfolds. The December-quarter earnings season is set to begin on January 12, with Tata Consultancy Services and HCL Technologies scheduled to announce their results. Ravi Singh, Chief Research Officer at Master Capital Services Ltd, said Indian markets appear constructively placed at the start of 2026, with domestic growth and global economic conditions shaping sentiment. “The outlook for Indian markets this week appears constructively positioned as markets enter 2026 with focus on domestic growth momentum and global economic health shaping investor sentiment for the year ahead. “While global cues particularly trends in US interest rates, currency movements, and geopolitical developments will continue to influence short-term sentiment, the primary driver for Indian markets is increasingly domestic fundamentals, including earnings visibility, government spending and consumption trends,” Singh said. Foreign Institutional Investors turned net buyers on Friday, purchasing equities worth Rs 289.80 crore, according to exchange data. Investors are also expected to keep an eye on the rupee’s movement against the US dollar and trends in Brent crude oil, the global benchmark. Vinod Nair, Head of Research at Geojit Investments Ltd, said global labour market data from the US will remain a key focus in the coming days. “For the week ahead, investors will give attention to US payroll and unemployment data for global market direction. Overall sentiment is expected to stay constructive, though markets may move within a steady range as participants wait for clearer earnings-led triggers and clarity on the India-US trade deal,” he said. Meanwhile, Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, pointed out that Indian equities have started 2026 on a strong footing, defying the usual January trend. “The Indian equity market has commenced 2026 on a stellar note, with the Nifty scaling fresh all-time high. While January has historically been a month of consolidation or bearishness, the current momentum suggests a decisive break from this seasonal trend. Supported by robust underlying factors and positive sentiment, the market structure remains firm,” Gour said.

The Melbourne derby lived up to its billing as the Melbourne Renegades held their nerve to register a four-wicket victory over the Melbourne Stars in Match 22 of the Big Bash League (BBL) 2025–26 at the Melbourne Cricket Ground. Chasing a competitive 174, the Renegades leaned on a match-defining knock from Josh Brown to overhaul the target with one ball to spare.

Melbourne Stars stumble to 173 despite late flourish

Asked to bat first after losing the toss, the Stars never quite found sustained momentum. Early wickets put them on the back foot, with Tom Fraser Rogers and Sam Harper providing brief sparks at the top. Campbell Kellaway anchored the innings with a composed 33, but the middle order failed to build partnerships as Glenn Maxwell and Blake Macdonald departed cheaply.

The innings found impetus late thanks to Hilton Cartwright and Tom Curran. Cartwright’s busy 28 kept the scoreboard ticking before Curran unleashed a blistering 38 off just 18 balls, striking seven boundaries to lift the Stars to a defendable 173/9. For the Renegades, Gurinder Sandhu was the standout with a four-wicket haul, while Callum Stow and Hassan Khan chipped in with timely strikes to keep the Stars in check.

Also READ: BBL|15: David Warner’s century in vain as Hobart Hurricanes pull off a record run chase at ENGIE Stadium

Josh Brown leads Renegades’ to thrilling win

In response, the Renegades were given a flying start by Brown, who dominated the powerplay with a series of crisp drives and powerful pulls. Despite early setbacks, including the dismissals of Tim Seifert and Jake Fraser-McGurk, Brown held firm at one end.

Mohammad Rizwan played the ideal supporting role, rotating the strike and ensuring the chase stayed on track. Brown’s authoritative 84 off 48 balls, laced with nine fours and four sixes, laid the foundation for victory before he fell in the closing overs. With the equation tightening, Will Sutherland provided the finishing touches, striking two towering sixes in a brisk cameo to seal the chase at 177/6 in 19.5 overs.

The Stars’ bowlers struggled to apply consistent pressure on a batting-friendly surface. Haris Rauf and Peter Siddle picked up two wickets apiece but conceded runs at crucial stages, while Marcus Stoinis proved expensive in the death overs. Mitchell Swepson was the most economical, but the lack of breakthroughs in the middle overs allowed the Renegades to stay ahead of the required rate.

Player of the match batting performance from Josh Brown ⚡#JoshBrown #BBL2025 pic.twitter.com/R3EoGpWhYL

— CricketTimes.com (@CricketTimesHQ) January 4, 2026

Also READ: Max Bryant’s explosive knock guides Brisbane Heat to a thrilling victory over Melbourne Stars in BBL|15

One of America’s biggest investor Michael Burry has warned the country on Nvidia. Michael Burry is the same investor who hit headlines with his correct prediction on 2008 housing crisis in the US and the ensuing global economic slowdown. According to Burry, China’s rapidly accelerating power-generation buildout gives it a structural edge in artificial intelligence race if the industry continues relying on increasingly energy-intensive chips. Burry said that Nvidia has a “death grip” on AI development in the US, citing its extensive investments and agreements with many major AI companies and startups.In a series of posts on X, formerly Twitter, Burry said that America is on the wrong path if its AI strategy continues to rely on increasingly energy-intensive Nvidia Corp chips. “Power hungry Nvidia chips are not the way forward,” he wrote. He shared a chart that showed China’s installed electricity generation capacity that has surged far beyond that of America and Europe since the early 2000s. “It is not just the total power advantage,” Burry wrote. “It is the slope.”

Why Nvidia, according to Michael Burry, is hurting America

Michael Burry shared ‘Why China will win AI in one chart’. He wrote: Power hungry Nvidia chips are not the way forward for the US. It is not just the total power advantage. It is the slope. In a follow-up post, Burry argued that Nvidia’s dominant role in AI computing across the US has locked the industry into a path of higher power consumption. “Nvidia’s development roadmap is essentially a power consumption roadmap,” he stated, adding that innovation has increasingly become about “how to power and to cool bigger, hotter silicon.” He said that efficiency improvements have failed to keep pace with the sheer growth in computing being deployed, pushing electricity needs ever higher.Burry contrasted this to China’s infrastructure push. “U.S. transmission grid development is actually decelerating due to permitting issues, while China is building transmission at will to match power output,” he said.That mismatch, he warned, leaves U.S. companies investing heavily in an AI arms race they are “structurally positioned to lose” if power-hungry scaling remains the dominant strategy.Burry said that the U.S. must pivot away from brute-force approaches centered on massive data centers and instead focus on more efficient designs. “The U.S. needs to get away from bigger and bigger power-hungry chips and innovate with AI-tuned ASICs like nobody’s business,” he wrote.

Michael Burry is betting against AI

In its quarterly 13-F filing released in November, Burry’s Scion Asset Management revealed that it has acquired put options, which secure the right to sell an asset at a given price by a certain date, on a pair of AI heavyweights: Nvidia (NVDA) and Palantir (PLTR). According to the filing, Scion now owns the right to sell 5 million Palantir shares and 1 million Nvidia shares, which at the time of filing had a combined value of just shy of $1.1 billion.Responding to the news in an interview to CNBC, Palantir CEO Alex Karp called the idea of shorting Palantir and Nvidia “bats— crazy,” as they are two of the only companies “making all the money” in the AI sector. “Alex Karp blasts ‘Big Short’ investor Michael Burry as ‘bats— crazy’ for bets against Palantir, Nvidia.” Karp said that those engaging in shorts of Palantir, like Burry, may be engaging in “market manipulation.“

A day after capturing Venezuelan president Nicolas Maduro and his wife from their, as US President Donald Trump said, “heavily guarded fortress,” the White House released an old clip of Maduro daring Trump to come and get him.The clip details a US military operation, “Operation Absolute Resolve”, carried out on Janaury 3 to capture Maduro in Caracas after a “large-scale strike.” The video depicts a video montage of night-vision footage and official briefings by Trump and other US officials.The video shows a stark imagery of raids and explosions alongside phrases like “come get me” by Maduro.“Nicolas Maduro had his chance — until he didn’t. The Trump Admin will always defend American citizens against all threats, foreign and domestic,” the White House posted on X.Trump announced on Saturday that US forces had carried out a “large-scale strike” in Venezuela, capturing President Nicolás Maduro and his wife, Cilia Flores, following pre-dawn attacks on Caracas that killed at least 40 people and triggered widespread panic across the capital.After reports of multiple explosions and low-flying aircraft, Venezuelan government forces deployed nationwide and the country entered a state of national emergency. Maduro and his wife have now been indicted in New York on terrorism and drug charges, with Trump accusing Maduro of running a “narco terrorist organisation.” A photo released by Trump on his social media platform Truth Social showed Maduro in handcuffs, wearing a blacked-out mask.Attorney General Pam Bondi posted an unsealed indictment charging Maduro with narco-terrorism, cocaine importation conspiracies, and possession of machine guns, offences that carry severe prison sentences when combined with drug trafficking charges.However, the legality of the strike carried out by US forces, codenamed Operation ‘Absolute Resolve’, has sparked intense debate. Critics including international law experts have noted that the US strikes in Venezuela could potentially violate the UN Charter and constitute a “crime of aggression.”The ministry of external affairs on Sunday reiterated India’s support for the safety and well-being of people in Venezuela as the situation in the country remains tense amid US strikes.“Recent developments in Venezuela are a matter of deep concern. We are closely monitoring the evolving situation,” the MEA said in a statement.“We call upon all concerned to address issues peacefully through dialogue, ensuring peace and stability of the region. The Embassy of India in Caracas is in contact with members of the Indian community and will continue to provide all possible assistance,” it added.

Virat Kohli and Rohit Sharma (PTI Photo)

Ruturaj Gaikwad is once again on the outside, looking in. The young batter scored a fine hundred against South Africa in the recent series. Many felt it should have helped his case. But when India announced their squad for the ODI series against New Zealand on Saturday, Ruturaj’s name was missing.The selectors chose Rishabh Pant instead. Ruturaj is seen by many as a complete batter. He has shown consistency. He has technique. He has temperament. Still, he could not find a place in the team. This is not the first time it has happened.

Former India spinner Ravichandran Ashwin spoke about the decision on his YouTube channel. He shared what many fans were already thinking.“Could Gaikwad have been kept in the squad? I think that was a real possibility,” he said.Ashwin explained that the selectors were forced to make a tough call. It was a straight choice between Ruturaj Gaikwad and Rishabh Pant. Pant got the nod mainly because he is a left-hander.Ashwin felt Shreyas Iyer’s comeback was never in doubt. He said it was “his rightful position.” But he questioned the need for picking a second specialist wicketkeeper when a batter like Ruturaj was available.“Between a second wicketkeeper and a batter, you can get a keeper from anywhere to cover,” he added.Ashwin also praised Ruturaj’s batting skills. He said Ruturaj should not be seen only as an opener. In his view, Ruturaj can bat in the middle order as well.“At four or five, I’m sticking my neck out, his batting against spin, his running between the wickets, and his ability to close out an innings is phenomenal.”Still, Ashwin admitted he worries about Ruturaj’s situation.“My main concern is Ruturaj Gaikwad’s mindset,” he further stated.He pointed out that Ruturaj’s T20 numbers are strong, yet chances at the international level have been limited.“Right now, it’s a straight choice between Ruturaj Gaikwad and Rishabh Pant, with Pant having the advantage of being a left-hander.”The road ahead is not easy. Big names like Virat Kohli and Rohit Sharma continue to block the top order.“Ruturaj will likely get a long run in ODIs only after Virat Kohli and Rohit Sharma retire from the format.”India’s squad for NZ ODIs: Shubman Gill (c), Rohit Sharma, Virat Kohli, KL Rahul (wk), Shreyas Iyer* (vc), Washington Sundar, Ravindra Jadeja, Mohammed Siraj, Harshit Rana, Prasidh Krishna, Kuldeep Yadav, Rishabh Pant (wk), Nitish Kumar Reddy, Arshdeep Singh, Yashasvi Jaiswal.*subject to fitness clearance

Last week, Indian equity markets ended on a firm note, pushing up the combined market value of seven of the country’s ten most-valued companies by Rs 1,23,724.19 crore. The rally was led by Reliance Industries, which emerged as the biggest wealth creator during the period. The positive sentiment was reflected in the benchmark indices as well, with the BSE Sensex rising 720.56 points, or 0.84%, over the week. Gains were recorded by Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Larsen & Toubro and Hindustan Unilever. However, Tata Consultancy Services, Infosys and Bajaj Finance moved in the opposite direction, seeing a decline in their market valuations. Reliance Industries added the most value, with its market capitalisation jumping by Rs 45,266.12 crore to Rs 21,54,978.60 crore. State Bank of India followed, posting a rise of Rs 30,414.89 crore to reach a valuation of Rs 9,22,461.77 crore. Engineering and construction major Larsen & Toubro saw its market value increase by Rs 16,204.34 crore to Rs 5,72,640.56 crore, while Hindustan Unilever’s valuation climbed by Rs 14,626.21 crore to Rs 5,51,637.04 crore. HDFC Bank recorded an increase of Rs 13,538.43 crore, taking its market capitalisation to Rs 15,40,303.87 crore. ICICI Bank’s valuation rose by Rs 3,103.99 crore to Rs 9,68,773.14 crore, and Bharti Airtel added Rs 570.21 crore to reach Rs 12,01,262.53 crore. On the other hand, IT majors faced selling pressure. TCS saw its market value decline by Rs 10,745.72 crore to Rs 11,75,914.62 crore, while Infosys lost Rs 6,183.25 crore, ending the week at Rs 6,81,635.59 crore. Bajaj Finance also saw a drop, with its valuation falling by Rs 5,693.58 crore to Rs 6,16,430.43 crore. At the end of the week, Reliance Industries remained as the top of country’s most valuable companies. It was followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and Hindustan Unilever.