BUSINESS
Life insurers grapple with post-Covid mortality spike, see 25% decline in insurance coverage
Mortality rate for insurers such as HDFC Life, ICICI Prudential and SBI Life is higher than the Covid-19 peak
BUSINESS
India’s top banks earn Rs 21,773 crore in insurance commissions amidst mis-selling concerns
Of 10 banks surveyed on commissions earned through their insurance arms, seven earned more than half of their insurance commissions by selling policies from affiliated insurers, a report says
BUSINESS
Non-life insurance industry sees 6.5% growth in May 2025, demonstrates mixed signals across insurers
Cumulative premiums for April–May (first two months of FY26) reached Rs 55,854 crore
BUSINESS
Private life insurers ride on premium products to increase market share even as policy volumes fall
The group insurance segment has emerged as the key growth engine in May, contributing over Rs 19,850 crore which is higher by more than 13 percent from last year.
BUSINESS
RBI to halt daily VRR auctions from June 11 as system liquidity reaches surplus of Rs 2.75 trillion
VRR auctions fell to Rs 97,861 crore in May, compared to Rs 13,48,316 crore in January, indicating surplus liquidity
BUSINESS
Jana Small Finance Bank seeks RBI nod to transition into universal bank
The application was made under the regulatory framework outlined in the RBI’s “On Tap” licensing guidelines for small finance banks issued on December 5, 2019, and the latest circular on voluntary transition to universal banks released by the RBI on April 26, 2024
BUSINESS
Rate cut relief comes faster for existing borrowers, as banks adjust spread for new loans
PSBs like Bank of Baroda, PNB, Bank of India, and UCO Bank have begun cutting lending rates, with private lenders like HDFC Bank and Karur Vysya Bank cautiously following suit
BUSINESS
Govt reviews 18% hike in motor TP premiums amid widening losses and years of tariff freeze
This development comes at a time when insurers have been reporting escalating loss ratios
BUSINESS
No changes in FDI norms for banking sector, says RBI governor Sanjay Malhotra
The comments come after a section of media claimed that India was considering easing foreign ownership rules
BUSINESS
RBI MPC Meeting: While net FDI moderated, gross FDI inflows rose sharply, says Sanjay Malhotra
In the past year, gross FDI into India surged by 14 percent, reaching $81 billion
BUSINESS
Nifty Bank hits new high as RBI surprises with 50 bps repo rate cut
The index surged over 1.3 percent intraday to cross the 56,500 mark for the first time, hitting a peak of 56,597.45.
BUSINESS
No systemic impact arising out of IndusInd Bank issue, says RBI governor
RBI Governor Sanjay Malhotra says bank has taken corrective steps and that CEO resignation shows accountability
BUSINESS
RBI shifts stance to 'neutral' on easing inflation, sustained growth
MPC meeting: This marks a reversal from the committee’s April stance when it adopted an 'accommodative' approach to prioritise growth
BUSINESS
MC Exclusive | BimaPay eyes 30–40% volume from ULIPs, nears launch of fully digital loan against life insurance platform
Loans against life insurance policies is a practice that’s long existed in the offline world. But the process is full of delays and paperwork. BimaPay aims to eliminate that friction.
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
