BUSINESS
Only two insurers comply with Bima-ASBA framework, others in talks with IRDAI for deadline extension
Top insurers such as Life Insurance Corporation, HDFC Life, ICICI Prudential Life and SBI Life have not gone live with Bima-ASBA as of now.
BUSINESS
IRDAI appoints 5 new members to Insurance Advisory Committee
The appointments will be effective from the date of publication in the official gazette, the release said
BUSINESS
NRI deposits surge by 40.8% to $14.31 billion in April-January FY25, says RBI bulletin
According to the latest RBI bulletin for March 2025, FCNR(B), NR(E)RA, and NRO have experienced growth in both inflows and outstanding amounts
BUSINESS
LIC in talks with RBI to introduce 100-year bond
This move comes after the RBI approved the issuance of 40-year bonds
BUSINESS
Discussions in final stage to buy stake in health insurance company: LIC CEO
The move aligns with the insurer's strategy to diversify its product offerings and expand its presence in the broader insurance space, says Siddhartha Mohanty
BANKING
Banks need to identify roadmaps for timely capital raising: DFS secretary Nagaraju
He also said that banks also need to do efficient allocation of resources besides striving to bring down intermediation costs
BANKING
IBA must drive innovation, strengthen regulation for Viksit Bharat: DFS secretary Nagaraju
Nagaraju highlights the need for the association to establish uniform ethical and operational standards, facilitate policy dialogue with the government
BUSINESS
Shriram Capital to use its existing depositor base for wealth management JV with Sanlam
A significant portion of its customers already possess investible surplus, making them potential clients for wealth products, says Shriram Capital's Subhasri
BUSINESS
Non-life insurance premiums drop 2.82% in February; health insurers lead growth
The drop comes as general insurers faced subdued growth, while standalone health insurers posted strong gains
BUSINESS
Life insurers’ new business premiums dips 11.6% in February as LIC sees sharp decline
LIC leads the decline with a 22% drop in premiums, while private insurers see mixed performance
BUSINESS
IRDAI warns private insurers over rising commission payouts in health and motor insurance, seeks action ahead of 2026 review
The regulator's concerns stem from the fact that despite the relaxation of commission payout limits in April 2023, the expected reduction in insurance premiums has not materialised, with the policy costs remaining high.
BUSINESS
IndusInd Bank CEO Sumant Kathpalia says crisis is litmus test for the lender
The Reserve Bank of India maybe uncomfortable with his leadership skills, Kathpalia said after the regulator extended his tenure by a year against a three-year extension sought by the board
BUSINESS
Our focus is tier II, III cities that generate 70% of business: ABHI CEO Mayank Bathwal
Health insurance may have to be made mandatory, especially if current efforts, including industry collaboration and government initiatives, fail to increase adoption, he says
BUSINESS
IRDAI to expand distribution framework, eyes embedded insurance boom
Expanding sales avenues will enable insurers to enhance accessibility and cater to a more diverse consumer base, Bathwal says
BUSINESS
Insurers reluctant to launch IPOs amid RBC implementation and stake dilution concerns
According to sources, shareholders of unlisted insurance companies do not want to go public till they see a valid case for valuations to increase or the need for capital raise to be compelling enough.
BUSINESS
NBFCs cheer RBI's move to reverse higher risk weights, but analysts don't see aggressive lending just yet
Analysts at Motilal Oswal Financial Services estimated that banks in their coverage universe could see an increase of 20–250 bps in CET-1 capital ratios due to the policy shift
BUSINESS
Insurers say proposed 1-year free-look period could lead to financial setback for industry
The extended FLP will empower policyholders by giving them more time to assess their policies but will lead to financial setbacks for them, say insurers
BUSINESS
Manian wants Federal Bank to be among India’s top five private lenders
Execution remains key, say analysts as Federal Bank targets to move up several notches from its current no. 9 spot to among the top five private banks under the leadership of K V S Manian by FY28
BUSINESS
Regulated entities must develop capabilities to comply with evolving rules: RBI deputy guv
The ultimate challenge is to build a financial ecosystem that is both balanced and resilient, Rao said
BUSINESS
New BIMA-ASBA framework could declutter unclaimed amounts with insurance companies
The new guidelines effective from March 1, 2025, state that only the necessary premium amount will be blocked and debited once the policy is issued.
BUSINESS
Our primary focus is to remain on protection biz, says ACKO Life's CEO Sandip Goenka
We’ll continue to focus on protection, mainly term insurance, while also planning to develop pensions and annuities to tackle longevity risk before shifting to savings, Goenka says
BUSINESS
Fire insurance premiums could surge 60% in 2025
This hike could be anticipated amid an 80 percent property rate in January, 2025, which was aimed to restore solvency after a period of aggressive discounting, aimed at maintaining solvency, according to industry analysts
BUSINESS
Axis Max Life aims to dial back ULIP exposure amid margin decline
Product mix shift, high ULIP sales, and new surrender norms impacted margins by 4 percent, said CFO Amrit Singh in an interaction
BUSINESS
Explainer: The DICGC as a safety net in the New India Co-operative bank crisis
The DICGC acts as a crucial safeguard in this scenario, ensuring that depositors of the New India Co-operative Bank are not left entirely out of pocket
