BUSINESS
Explained | Open architecture in insurance: Push for choice, debate on impact, and industry's stance
While this proposal aims to enhance consumer choice and potentially drive competition, reports have surfaced indicating that major companies oppose the open architecture model for individual agents
BUSINESS
LIC evaluating stake in health insurer, deal unlikely in FY25: CEO
Factors such as regulatory approvals and valuation will take time, says Mohanty
BUSINESS
RBI's repo rate cut welcomed by bank leaders, expected to ensure liquidity while monitoring inflation
However, some banks acknowledged the short-term impact on their profitability, with expectations of eventual recovery
BUSINESS
RBI cuts repo rate by 25 bps to 6.25%, Deposit rate transmission to take two quarters
The Standing Deposit Facility (SDF) rate remains unchanged at 6.5 percent, as do the Marginal Standing Facility (MSF) and bank rates, indicating a cautious yet accommodative monetary policy stance, says RBI Guv
BUSINESS
RBI to introduce new guidelines on conduct of banks to tackle the issue of mis-selling
This move comes as part of an effort to curb practices that lead to consumer detriment and to ensure a level playing field in the financial services sector, he said.
BUSINESS
RBI has reduced inflation forecast for FY26, FY25 forecast remains unchanged
Malhotra projected the retail inflation at 4.2 percent for next financial year beginning April while retaining the forecast for 2025 at 4.8 per cent
BUSINESS
Insurance companies see no benefit from open architecture; Leaders cite unemployment, mis-selling concerns
Moreover, companies have not seen much success with the open architecture model
BUSINESS
Centre's ULIP tax clarification may push insurers, policyholders towards new products
While ULIP sales have significantly driven premium growth for private insurers, a downturn in market stability typically leads to reduced demand for ULIPs, with effects usually seen nine to twelve months later
BUSINESS
ULIP taxation clarified in Budget 2025
The new reform dictates that ULIPs with annual premiums over Rs 2.5 lakh will face a 12.5 percent tax on gains, if held for more than one year
BUSINESS
Centre revises classification criteria for MSMEs to boost growth and access to capital in Budget 2025
The government has raised investment limit for MSMEs by 2.5 times and the turnover limit by 2 times
BUSINESS
Centre clarifies tax regulations for ULIPs; Premium cap and capital gains tax on non-exempt policies
Under the previous rules, if the annual premium for ULIPs was up to Rs 2.5 lakh, the maturity amount was tax-free after a five-year lock-in period
BUSINESS
Loans to MSMEs made easier and cheaper through credit cards
Customised credit cards with a limit of Rs 5 lakhs to be issued to micro enterprises registered on Udyam Portal; There are currently 7.5 crore people employed under MSME, contributing 36 percent to manufacturing and 45 percent to exports
BUSINESS
FM paves way for 100% FDI in insurance sector
Known to be one of the longest standing requests of the insurance industry, this move creates room for increased participation from foreign players in India's insurance landscape. But the real tes
BUSINESS
Agricultural sector likely to see relief due to increase in KCC loan limit
The sector, which had been under stress for a prolonged period of time may likely see relief through increase in KCC loan limit, helping 17 million farmers, says analyst
BUSINESS
FM announces only one reform from new Insurance Bill, others left out
The other reforms, for reasons unknown to me, have been deferred, but will likely be introduced in the very near future, says Ex-IRDAI member
BUDGET
MSMEs get a boost with enhanced credit access, Kisan Credit Card loan limit raised
The step aims to provide farmers with better access to formal credit and reduce their dependence on high-interest informal borrowing, FM says
BUDGET
FDI limit in insurance sector to rise to 100%, says FM
This is applicable only for companies that invest the entire premium collected in India, FM adds
BUSINESS
India's insurance market poised to grow the fastest in G20: Economic Survey
However, India's insurance penetration remains a mere 3.7 percent, significantly below the global average of 7 percent.
BUSINESS
LCR may drop 13-14 bps but will stay well-above draft limit, PNB CEO assures
Addressing concerns over the potential effects of the new draft guidelines, PNB CEO said there will be no major impact on the bank's operations.
BUSINESS
PNB targets to double recovery to Rs 6,000 cr in Q4 to meet FY25 goal amid slowdown in asset recovery
The bank’s overall recovery for the year to date has reached Rs 11,552 crore, falling short of expectations due to delays in the resolution of stressed assets via the NCLT and the NARCL, says CEO Ashok Chandra
BUSINESS
Economic Survey 2025 pins steep interest rates and RBI's curbs on unsecured loans for moderation in credit growth
Overall bank credit growth had slowed to 7.7 percent, a clear reflection of the impact of higher lending rates stemming from monetary policy adjustments and the RBI's regulatory tightening, the report says
BUSINESS
IRDAI limits annual health insurance premium hikes for senior citizens to 10%
The move is aimed at controlling the rise in health insurance premiums for senior citizens
BUSINESS
MFIs facing a crisis of confidence post-Q3
Analysts are increasingly turned negative on NBFC-MFIs, suggesting potential headwinds for the sector
BUSINESS
Rate cut will impact NIM, recovery expected in 3 quarters, says Tamilnad Mercantile Bank CEO
For the December quarter, Tamilnad Mercantile Bank has reported a 6 percent year-on-year growth in net profit at Rs 300 crore
