BUSINESS
Budget 2022: Insurance industry seeks lower tax, separate carve-out for 80C to push penetration
Awareness around insurance has increased significantly in the wake of the Covid-19 pandemic. The insurance industry is now counting on lower taxes and a bigger tax-saving benefit to increase penetration.
BUSINESS
GIC Re will continue to focus on bottom-line approach: CMD Devesh Srivastava
GIC Re's Chairman and Managing Director Devesh Srivastava in a conversation with Moneycontrol, talks about the business so far, international expansion, emerging risks, etc.
BUSINESS
HDFC Life watchful on omicron mortality; eyes growth with product, distribution
HDFC Life’s MD & CEO Vibha Padalkar talks about business, trends, progress on the planned Exide Life acquisition.
BUSINESS
IndusInd and DCB Bank may benefit from change in norms on hiking promoter stake
RBI’s new norms on raising promoters’ stake in banks to 26 percent from the current 15 percent to benefit a few private banks.
BUSINESS
Tight regulations await top NBFCs looking for entry into banking
NBFCs seeking to convert into a universal bank require a 10-year track record, among other requirements.
BUSINESS
Here’s why Star Health Insurance is confident its Rs 7,000 crore IPO will do well
Post IPO, Star Health Insurance will be India’s only listed standalone health insurance company. Moneycontrol caught up with the management to get their views on the insurer’s valuation, business expansion plans, solvency margin and the industry outlook
BUSINESS
Digital Lending Report: First Loss Default Guarantee and Buy Now, Pay Later models might undergo changes, say experts
The RBI's internal working group has made vital recommendations and suggestions for the growing digital lending ecosystem.
BUSINESS
In 2015, we did Rs 130 crore, and today we do Rs 100 crore individual new biz every month: IndiaFirst Life CEO
The life insurance industry is poised to clock double digit growth, says IndiaFirst Life Insurance MD & CEO RM Vishakha, expressing confidence in the industry’s prospects after the Covid setback.
BUSINESS
Explained: The integrated ombudsman scheme launched by RBI
A unified ombudsman scheme will encompass customer grievance across different RBI regulated entities.
BUSINESS
Explained | RBI Retail Direct: How can you invest in G-Secs? All questions answered
Prime Minister Narendra Modi launched RBI Retail Direct, allowing investors direct access to buying and selling of government securities, free of cost.
BUSINESS
Covid fight: Banks’ total restructuring pool surpasses Rs 1.5 lakh crore
RBI had allowed banks to restructure loans under two frameworks due to the impact of severe Covid-19 waves.
BUSINESS
Private life insurers continue to grow, LIC posts muted performance in October 2021
Reinsurers are expected to hike their prices, which may impact the growth of life insurance companies.
BUSINESS
Need to have criminal justice system to protect bonafide actions by bankers for recovery of money: Uday Kotak
The case is related to Rs 24-crore loan taken by Gaudavan Group from SBI for construction of a new hotel.
BUSINESS
Interview | We will touch pre-COVID levels in two quarters: Bandhan Bank
Bandhan Bank reported a net loss of Rs 3,008 crore in the second quarter but MD & CEO CS Ghosh and CFO Sunil Samdani believe the worst is over and that NPAs will come down significantly in the second half of the financial year.
BUSINESS
Wouldn’t want to chase growth now: Sanjay Agarwal, MD, AU Small Finance Bank
The bank expects 20-25 percent of its restructured loan book to slip into NPAs.
BUSINESS
Interview | Canara Bank upbeat on growth, no stress seen in retail book, says MD Prabhakar
Canara Bank expects less than 1 percent of the total restructured loan pool to slip into NPAs.
BUSINESS
As Citi India seeks a buyer for its retail assets, employees look for safer pastures
A number of employees in the mid- and senior-management levels are on the lookout for job opportunities; many senior executives have already left, people with knowledge of the matter said.
BUSINESS
Federal Bank opens 300,000 accounts with neo-bank partners
Federal Bank has tie-up with over 50 fintechs. The bank is also back on track for credit card issuance after the RBI had stopped Mastercard from issuing new cards.
BUSINESS
Explained: What is co-lending by banks and NBFCs?
Co-lending guidelines were introduced by the RBI in 2018 to push lending in priority sectors including rural areas, renewable energy and MSMEs.
BUSINESS
Never been a more exciting time to be in general insurance, says Digit Insurance’s Goyal
Digit Insurance’s founder and chairman Kamesh Goyal says the current financial year is challenging for the general insurance industry, but is betting on strong growth in the following 12 months.
BUSINESS
Festive season soars card spends on e-commerce over Rs 29,000 crore in first 12 days of October
Economic recovery and festive season has pushed the card spends on e-commerce.
BUSINESS
Banks' loan growth picks up pace at 3-5%, asset quality stress to remain elevated in Q2
Banks recent disclosure on advances in second quarter reveal economic recovery has kicked-in, analysts believe the numbers are encouraging but asset quality stress could remain elevated in second quarter.
BUSINESS
Startups, merchants face disruptions due to RBI guidelines on auto-debit rule
With the RBI framework for processing recurring online transactions kicking in from October 1, startups and merchants are facing some teething troubles.
BUSINESS
Strong growth momentum continues for private life insurers in September 2021
Private life insurance companies have continued the growth momentum in September 2021 but key risks around a third wave of the pandemic and pricing continue.
