Page 2 - Aathira Varier

Credit card spending falls 5.9% in September, first decline since 2021

Spending drops 5.9% in Sep to Rs 2.04 trillion against a high year-ago base

GIFT City should deepen its role as gateway for global capital: Experts

At the BFSI Insight Summit 2026, experts said GIFT City must expand financial products, ease investor access and resolve tax and regulatory hurdles to attract more global capital.

BFSI Insight Summit: Health insurance leaders split on dedicated regulator

At the BFSI Insight Summit 2026, health insurance leaders differed on the need for a dedicated regulator but agreed on improving hospital billing transparency, claims and affordability

AI poses new risks, makes assessment more complex: General insurers

At the BFSI Insight Summit 2026, general insurance leaders warned of mounting cyber and AI risks, calling for stronger underwriting, reinsurance protection and clearer policy terms

BFSI Summit 2026: 'Time to implement AI at scale, with clear objectives'

Private bank chiefs say AI adoption must move beyond pilots to large-scale implementation, with a focus on customer experience, productivity, data governance and cybersecurity

BFSI Insight Summit 2026: 'Global cues to drive return of capital to India'

Foreign bankers say India's long-term investment prospects remain strong despite FPI outflows, but capital flows hinge on global conditions, valuations and higher FDI inflows

Irdai extends feedback window for proposed insurance distribution reforms

The insurance regulator has received more than 650 comments on its proposals to revise expense limits and commission structures for insurers and distributors

NRI deposit inflows surge to $121.94 billion in April-August: RBI data

The sharp rise followed the RBI's introduction of a concessional foreign exchange swap facility in June to encourage banks to mobilise foreign currency deposits

NBFCs' dependence on bank borrowings rose in 2025: RBI October Bulletin

NBFCs saw stronger credit growth, led by retail and industry lending, while their reliance on bank funding increased following the restoration of earlier risk weights, says RBI Bulletin

Outward remittances under LRS rise 3.6% to $2.74 billion in August 2026

Outward remittances under the RBI's Liberalised Remittance Scheme rose 3.6% YoY to $2.74 billion in August, driven by overseas investments, while education spending fell

Deepak Reddy to replace Tapan Singhel as Bajaj General Insurance MD & CEO

Deepak Reddy will take over as MD & CEO in April 2027, subject to IRDAI approval, as Tapan Singhel approaches the regulatory limit of 15 years at the helm of an insurer.

Shallow rate hike cycle likely to still test borrowers this time

A shallower rate-hike cycle could still strain household budgets as higher EMIs, elevated inflation and uncertain wage growth weigh on borrowers

Munich Re expects India to occupy more space in global portfolio: Jurecka

Christoph Jurecka says low insurance penetration, economic growth and a 95% natural catastrophe protection gap offer significant opportunities for reinsurance

Decline in fire insurance premium moderates to 14% in September 2026

Commercial fire insurance premiums fell 13.6 per cent in September, compared with a 24.8 per cent decline in August, as catastrophe losses prompted insurers to ease discounting

Leading NBFCs flag early signs of repayment stress in gold loan segment

Bajaj Finance and Piramal Finance flag early signs of stress in gold loans as rapid lending growth raises concerns over repayment delays, borrower leverage and defaults

Mahindra Finance Q2 net profit rises 55% to ₹882 crore on loan growth

Mahindra Finance reported 22% growth in disbursements to Rs 16,499 crore in Q2FY27, while assets under management rose 15% and credit costs declined to 1.6% from 2.2% a year ago

Open to acquisition to build capabilities: Piramal Finance MD & CEO

Jairam Sridharan says urban and semi-urban markets will drive H2 growth as the lender takes a measured approach to wholesale lending

Plan to enter credit card biz in six months: South Indian Bank MD & CEO

South Indian Bank MD & CEO Mahesh Pai plans to enter the credit card business within six months, boost retail lending, expand branches and target 15-16% credit growth over the next two years.

FCNR(B) deposit inflows weigh on private banks' margins in Q2FY27 results

HDFC Bank, ICICI Bank and Axis Bank report sequential declines in net interest margins as FCNR(B) deposits weigh on earnings, but expect recovery as funds are deployed

Banks weigh income impact of Irdai's proposed insurance commission caps

Banks are exploring higher policy sales and changes in product mix to offset potential fee income losses, while RBL Bank estimates a 50-60% decline in bancassurance income