Page 21 - Aathira Varier

Budget 2025-26: Banks expect steps for deposit mobilisation, tax breaks

Tax incentives will help sector as loan growth slows down, say experts

ICICI Prudential Life's Q3 results: Net profit rises 43% to Rs 325.65 crore

In Q3 FY25, the solvency ratio of ICICI Prudential Life stood at 211.8 per cent, compared to 196.5 per cent in the same period last year

RBI forms new committee for bank license, chaired by former DG Jain

RBI said that, "The secretarial support to the committee would be provided by RBI's Department of Regulation"

Bajaj Finance, Airtel collab to launch digital financial services platform

NBFC gains access to Airtel's customer database and transaction history

IDBI Bank Q3FY25 results: Net profit rises 31% to Rs 1,908 cr, NII up 23%

The net interest margin (NIM), a measure of banks' profitability, improved by 45 bps to 5.17 per cent during the quarter under review compared to 4.72 per cent in the same quarter last year

Higher bulk deposit reliance signals structural liquidity risks: RBI dy Guv

Outstanding Certificate of Deposit issuances highest since 2012

Budget 2025: Banks expect incentives to boost deposit mobilisation

The Indian Banking Association has asked for certain tax rebates on the savings account in order to nudge customers to retain funds in this account

Private sector banks' credit costs up in Q3FY25 on higher provisions

Slippages to NPAs in credit card, microfinance segments increase

RBL Bank Q3 results: PAT drops 86% to Rs 32.63 cr amid surge in provisions

The Net Interest Income (NII) grew nearly 3 per cent Y-o-Y to Rs 1585 crore due to lower (Joint Liability Group) JLG funding and increased slippages causing interest reversals

Outward remittances under LRS increase 3.6% in November: RBI data

In the September-November quarter of financial year 2025, Indians remitted $7.1 billion overseas, compared to $7.5 billion in the same period last year

Microfinance sector stress cyclical, pushing up NPAs, says SBI official

The dealing with internal factors would mean entities require more discipline and emphasis on corporate governance and compliance

ICICI Lombard Q3FY25 results: Net profit jumps 67.9% to Rs 724 crore

The Gross Direct Premium Income (GDPI) slipped by 0.3 per cent to Rs 6,214 crore from Rs 6,230 crore in Q3 FY24 due to the new premium accounting norms

There is no change from organisational perspective: Truhome Finance CEO

Says he expects a fall in the cost of funding after the acquisition amid stronger capital position and better credit rating

HDFC Life's Q3 FY25 results: Net profit rises 13.6% to Rs 414.9 crore

The value of new business (VNB) rose 8.6 per cent YoY to Rs 930 crore in Q3 FY25, compared to Rs 856 crore in the same period last year

Insurance industry seeks tax incentives, Insurance Act amendment in Budget

Considering the low penetration in the country, experts believe additional funding could provide vital support for the segment

First phase of Bima Sugam project likely to be rolled out mid-2025

Initially proposed for Jan '23 launch, project missed many deadlines

Life insurance Dec new biz premium falls 21.7% to Rs 30,218.71 crore

LIC's premium fell 41.15 per cent Y-o-Y to Rs 13,523.87 crore, while private insurers reported 7 per cent Y-o-Y growth in NBP to Rs 16,694.85 crore

Uncertainty looms over launch of Irdai's ambitious Bima Sugam project

Industry players, who are also investors in the project, say it is unlikely the project will meet the announced launch date of April 2025, with few updates on its progress

Recovery agents are in demand as banks' unsecured loan stress rises

In July 2024, the total strength of outsourced staff in the BFSI (banking, financial services, and insurance) space was 77,000, out of which 6,000 were recovery agents

PhonePe partners with ICICI Lombard to offer Maha Kumbh Mela insurance

The Maha Kumbh Mela, expected to commence on January 13, 2025, and continue till February 26, 2025, in Prayagraj, Uttar Pradesh