BUSINESS
BimaPay Finsure targets Rs 20 crore premiums in FY26 for maiden corporate product
However, even with the new corporate product, BimaPay remains a retail-first business, CEO Hanut Mehta says
BUSINESS
97.7% bank accounts fully insured, but only 46.3% of deposits covered, shows RBI data
Insured deposits in India rose 7.11 percent year-on-year to reach Rs 96.7 lakh crore as of September 30
BUSINESS
Go Digit Life Insurance reports 719% increase in claims payouts, group term category leads surge
In total, Digit Life settled 15,596 claims this fiscal year, up from 602 in FY24
BUSINESS
Private insurers surge ahead as public sector struggles; ICRA projects Rs 3.6 lakh crore premiums by FY27
The divergence in financial health, market expansion and profitability metrics underscores a widening gap in sector dynamics, an ICRA report says
BUSINESS
Mufin Green Finance eyes Rs 1,300-crore AUM by FY26, reduction in exposure to EV mobility
Mufin Green Finance’s solar book expected to grow 16x in 2 years
BUSINESS
HDFC ERGO to maintain lean bancassurance exposure, targets above-industry growth in FY26: CEO Anuj Tyagi
Tyagi says, the company will instead bet on its agency network, direct-to-customer rural outreach, and commercial lines
BUSINESS
Customer complaints to RBI Ombudsman rise to 2.96 lakh in FY25
The majority of these complaints were directed against banks, followed by NBFCs, other non-bank system participants, and CIGs
BUSINESS
India's services sector outpaces manufacturing and agriculture in FY25: RBI annual report
This is despite the fact that the total GVA at basic prices rose by 6.4 percent in FY25, down from 8.6 percent in the previous year, signalling a moderation in economic momentum
BUSINESS
India's gold hoard up 7% at 879.59 tonnes in FY25
A combination of fresh purchases, a 30% increase in the price of the precious metal and the depreciation of the rupee against the dollar added to the surge
BUSINESS
Bank fraud losses surge three-fold to Rs 36,014 crore in FY25
Public sector banks (PSBs) accounted for the bulk of the losses, while private sector banks reported the highest number of fraud cases, RBI's annual report has said
BUSINESS
Private banks maintain credit momentum but profitability under pressure: RBI Annual Report
While credit growth continued to remain in double-digit in FY25, public sector banks outpaced their private counterparts in expanding credit
BUSINESS
India leads global real-time payments with 48.5% share in FY25, driven by UPI surge: RBI Annual Report
In March 2025 alone, UPI recorded its record-highest of 19.78 billion transactions, amounting to Rs 24.77 lakh crore in value.
BUSINESS
RBI's balance sheet for FY25 expands by 8.2% to Rs 76.25 lakh crore
This marks a significant increase from Rs 70.47 lakh crore in the previous year
COMPANIES
LIC nears stake acquisition in health insurance firm, eyes higher AAA bond investments in FY26
Unlike typical acquisitions where a committee might determine stake size, LIC has opted for internal deliberations to decide the quantum of investment
BUSINESS
Rationale behind composite licensing remains unclear, says Shubhra Goel
The MD of the global professional services Firm also says that life insurance companies are likely to continue scaling back their exposure to ULIPs in FY26, particularly in the face of market volatility
BUSINESS
India is the only market with falling bank employee productivity and decreasing operating leverage: BCG’s Saurabh Tripathi
While Indian banks are benefitting from emerging trends like mutual fund distribution and insurance sales, much of the fee income is volume-driven and not rooted in differentiated, high-value services, he said.
BUSINESS
Shriram Life Insurance to steer clear of banca channels, says CEO Casparus Kromhout
Banca tie-ups might give a short-term boost but they come with the risk of abrupt loss if a bank switches partners, says Kromhout
BUSINESS
Fusion Finance auditors issue qualified report after Q4 FY25 results, flag ECL issue
The auditors flagged the company’s decision not to retrospectively adjust previous financials for expected credit loss (ECL) provisions to the tune of Rs 1,864.91 crore, citing impracticability.
BUSINESS
For IndusInd Bank, MFI issues are larger than derivative woes
March quarter financials take a hit of Rs 4,975 crore, which includes accounting adjustments and reversals on account of derivative instruments as well as rectifying lapses in the bank’s microfinance portfolio. Auditors say incorrect accounting of derivatives started as back as FY16.
BUSINESS
Crisis of confidence at IndusInd Bank, say analysts, lender assures clean-up is underway
While IndusInd Bank has said that all known discrepancies have now been accounted for, and auditors have combed through its financials extensively, analysts and the market remain wary.
BUSINESS
Insurance Amendment Bill likely in monsoon session, composite licenses and nod for 100% FDI on cards
The Insurance Amendment Bill is expected to simplify the capital structures of companies by proposing key reforms including composite licenses and increasing the foreign direct investment (FDI) cap.
BUSINESS
Shareholders reject board seat to Warburg-backed investor in IDFC FIRST Bank
The special resolution, which required at least 75 percent of votes in favour to pass, received only 64.10 percent approval, the filing says
BUSINESS
MC Exclusive | Star Health data breach may trigger CXO exodus amid cybersecurity probe
According to sources, the ongoing investigation into cybersecurity lapses could lead to financial repercussions of approximately Rs 200 - 250 crore, primarily due to potential legal penalties stemming from the company’s security failures.
BUSINESS
Axis Max Life to see ULIP moderation by 3%, eyes IPO simplification in FY26: CFO Amrit Singh
In FY25, ULIPs accounted for approximately 42 percent of the company’s portfolio, while non-participating comprised 23 percent and par comprised of 15 percent.
