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
BUSINESS
Ex-IRDAI member calls for removal of GST on premiums to make it affordable
Instead of imposing restrictions on the bancassurance channel, there should be an internal assessment to ensure proper and seamless sales, which is fundamentally the role of the regulator, says Sathe
BUSINESS
Restrictions on bancassurance might not be a great step, says HDFC Life's Vibha Padalkar
Talks about the restrictions on bancassurance has surfaced after Finance Minister and IRDAI Chairman spoke about the banks selling insurance more than their core banking products.
BUSINESS
Tailored insurance products needed to bridge middle-class coverage gap, says NIACL Actuary
The middle class represents a vast untapped market needing innovative, tailored insurance solutions to bridge the gap between existing products, and their lifestyle and financial aspirations, says Ramnarayanan
BUSINESS
'Insurance for all' by 2047 challenging at current industry pace, says expert
Speaking at the 18th IR India Rendezvous on January 22, 2025, T L Alamelu noted that while there is a readiness in terms of distribution and ecosystem, the actual implementation has been slow.
BUSINESS
Indian Overseas Bank targets Rs 2,500 crore recovery in Q4, expects major recovery from key accounts
In the period between April and December 2024, the recoveries reached Rs. 1,855 crores, which is a 30.92% increase compared to Rs. 1,417 crores in the same period last fiscal year.
POLITICS
Tamil Nadu's mid-day meal: A recap of the 100-year-old scheme
The state has a long history of providing food to the school children — an initiative that improved the attendance and reduced malnutrition among socially struggling children.
POLITICS
Karnataka Elections 2023: Will BJP retain its position in Shivamogga with Yediyurappa, Eshwarappa out of electoral politics?
The winning party requires 113 seats to form the Government in Karnataka out of 224 seats.
POLITICS
Karnataka Polls 2023: Here's why ex-Bengaluru Police Chief sought aid from rowdy sheeter 'Silent Sunil' during Karnataka Polls 2023
On April 11, 2023, Bhaskar Rao was given the ticket from the Chamrajpet constituency, while 'Silent Sunil' was expecting it.
TRENDS
Three years after COVID-19 shut down the world, we still don't know its origins. Here is what we know so far
Three years and 7 million deaths later, the question of how the pandemic began is still a mystery.
BUSINESS
OpenAI rolls out an API for business users; early adopters include Romania's PM
Snapchat, Shopify, Instacart, Quizlet, Speak and Ford are some of the other takers of the API.
