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
BUSINESS
Bajaj Finance launches BFL 3.0, targets 3.2-3.5% share in total credit market by FY25
BFL 3.0 aims to meet the financial needs of its 200 million customers by integrating AI technology across all operations, the management said
BUSINESS
Potential rate cuts to deepen net interest margin woes as private banks report mixed results
The banks will not be able to absorb the rate cut immediately, says analysts
BUSINESS
Bank of Maharashtra pegs expected credit loss provisions at Rs 125-150 cr per quarter: Sources
The RBI, had in March 2020, rolled out regulatory guidelines for the implementation of Indian Accounting Standards (Ind AS) by non-banking financial companies (NBFCs)
BUSINESS
6.5-7% GDP growth, 100% credit-to-GDP ratio required to become $30 trillion economy: PNB CEO
India, with a GDP of roughly $3.4 trillion, is currently the fifth largest economy in the world, after the US, China, Japan and Germany
BUSINESS
Loans worth Rs 38,000 crore disbursed on ULI platform
Thirty-six lenders, including various banks and NBFCs have been onboarded, the RBI said in a report
BUSINESS
Need another aggregator to protect financial institutions against fraud, says DFS secretary
In FY24, bank frauds went up 166 percent from the previous year to 36,075, RBI’s annual report has said
BUSINESS
Union Budget 2025: LIC MD expects tax incentives and subsidies to boost insurance penetration
On January 29, Moneycontrol reported that India’s insurance sector is expecting some key announcements in the Budget such as tax incentives for policyholders, reduction of goods and services tax (GST), and implementation of mandatory basic term life insurance coverage for formal employment
