Page 26 - Aathira Varier

RBI lifts curbs on Mumbai-based Sangli Sahakari Bank after 2.5 years

The bank's DICGC liability was down to Rs 36.97 crore from Rs 49.33 crore in September 2024. The company improved its net worth to Rs 5.41 crore as budgeted

Fire, engineering insurance premiums likely to move up by 60% in 2025

In 2024, the country was rocked by multiple natural catastrophes causing major losses to insurers and reinsurers, particularly in Gujarat and Nagpur thus affecting the 'free pricing' of insurance

Stress in microfinance sector doubles in April to September period: RBI

Earlier, the RBI had warned that some NBFCs, including MFIs, were adopting a "growth-at-any-cost" approach and cautioned that regulatory action would be taken if necessary

Grihum Housing Finance plans to raise funds up to Rs 5k cr via NCDs in CY25

We aim to raise approximately Rs 4,500-Rs 5,000 crore over the next 12 months, with a significant portion targeted through capital markets for a tenure of 3-4 years, says Manish Jaiswal

In a first, micro insurance premium in life segment tops Rs 10k cr in FY24

Private life insurers dominate the segment, accounting for over Rs 10,708.4 crore, while the state-owned Life Insurance Corporation of India (LIC) contributed nearly Rs 152 crore

AB Capital infuse Rs 23 crore into health insurance arm via rights issue

The standalone health insurance company is an associate of Aditya Birla Capital and with this acquisition of the shares through rights issue

Credit Card spends fall sharply in November after festive October high

Decline due to moderation in consumer spending; issuances come down

Outward remittances under LRS rise 10.6% in October, shows RBI data

In the August-October quarter of financial year 2024, Indians remitted $8.37 billion overseas, compared to $9.05 billion during the same period last year

We want to grow better than industry, mindful of biz quality: Naveen Jha

Health and motor insurance will continue to be our two most important segments

Non-life insurers' profit in green in FY24 after 2 straight years of losses

Net profit of life insurance companies rose by 10.79% Y-o-Y in FY24 to Rs 47,407 crore

Over Rs 20k cr of unclaimed amounts lie with life insurers at end of FY24

Irdai also adopted several measures to reduce existing unclaimed amounts, asking insurers to prompt policyholders to update their contact details at the time of renewal

NPS Vatsalya growing, onboards 75,000 people since launch: PFRDA chairman

Finance Minister Nirmala Sitharaman had in September launched NPS Vatsalya, a scheme for minors to secure their future

Shriram Finance consolidate green finance biz under Shriram Green Finance

Building on its existing expertise in financing electric vehicles, Shriram Green Finance will provide sharper focus and clarity to its sustainability efforts

RBI imposes fine on Manappuram Finance, IndusInd Bank over non-compliance

The statutory inspection of the companies was conducted by the RBI with reference to their financial position as of March 31, 2023

State govt fiscal situation improves; sops may crowd out resources

Market borrowing surged 32.8% in FY24, RBI report says

Insurance premium financing expected to see healthy growth of 25% annually

In premium financing, a borrower secures a loan from a third-party provider to cover the policy's premiums

RBI lifts restrictions on ECL Finance, Edelweiss ARC after compliance

RBI, in May this year, imposed business restrictions on ECL Finance and Edelweiss ARC

Life insurance firms adjust term premiums by 5-10% ahead of FY25 end

HDFC Life Insurance - the second largest life insurer in the country - has increased their term life insurance premiums by about 5 per cent for Rs 50 lakhs and above, as per distributors

ICICI Bank's board approves 19% stake sale in ICICI Merchant Services

The Board of Directors of ICICI Bank Limited ("the Bank"), at its meeting held today, approved a proposal for sale of 19% stake held in ICICI Merchant Services

India's foreign exchange reserves decline to 5-month low of $654.8 billion

The RBI is expected to have sold net dollars worth $61.1 billion to protect the domestic currency