Page 22 - Aathira Varier

Insurance sector gets over 62% of $5.7 bn services sector FDI inflows in H1

The insurance sector was opened to foreign investors with an FDI limit of up to 26 per cent in 2000

Net card spending rises 60% as credit card additions rise to 4-mth high

The per credit card spending rose by 3.20 per cent Year-on-Year (YoY) from Rs 16,865.26 in December 2023 and 8.22 per cent YoY from Rs 15,584.21 in December 2022

Irdai caps senior citizens' health premium increase at 10% per annum

Steep rise in health insurance premium of senior citizens has been engaging the attention of Irdai and is a regulatory concern, Irdai said

Private banks stumble on agriculture, microfinance slippages in Q3

Credit cost for most of the lenders increased due to higher provisions, mainly for unsecured retail loans

Need policy framework to help states fund parametric insurance: Surbhi Goel

Parametric (or index-based) insurance is a type of coverage that focuses on the likelihood or probability of a loss-causing event occurring, rather than indemnifying the actual losses sustained

Mahindra Finance Q3 profit rises 63% to Rs 899 cr as credit cost falls

Disbursements grow 7% to Rs 16,467 cr as company leverages festive season demand

Not expecting higher slippages from unsecured book: Federal Bank ED

Additional provisions for existing NPAs in unsecured book, says Federal Bank ED

Federal Bank's Q3FY25 results: Net profit down 5% at Rs 955 crore

The total deposits rose by 11.2 per cent YoY to Rs 2.66 trillion as of December 31, 2024, while net advances rose by 15.6 per cent YoY to Rs 2.30 trillion

Piramal Enterprises Q3 results: Firm back in the black with Rs 39 cr profit

The credit cost of the company increased to 1.9 per cent from 1.6 per cent in Q2 FY25

RBI supersedes Aviom India Housing Finance's board, appoints administrator

The regulator said it "intends to shortly" initiate the process of resolution of the company under the Insolvency and Bankruptcy Code (IBC)

New norms likely to reduce Bank of Maharashtra's LCR by 5 basis point

The Reserve Bank of India (RBI) proposed revised LCR norms in late July 2023, suggesting that banks assign an additional 5 per cent run-off factor for retail deposits accessible through IMB

Restrictions on bancassurance may not be a great step: HDFC Life's Padalkar

Bancassurance is a partnership between banks and insurance companies to sell insurance products through bank branches

Bank deposits grow 10.83% to Rs 221.50 trn, show steady improvement in Jan

Credit grew by 11.47 per cent Y-o-Y to Rs 178.01 trillion in the fortnight ending January 10, 2025

HDFC Bank to increase growth as macroeconomic environment improves

The bank's average deposits grew by nearly 16 per cent Y-o-Y to Rs 24.54 trillion in the December 2024 quarter

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