Page 27 - Aathira Varier

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

Life insurers adjust term premiums ahead of business end of financial year

While some companies are increasing rates, others are slashing them, and still others have made no change; GST changes on premium taxation may change outlook

Irdai may limit insurance companies' overdependence on parent banks

Irdai also plans to encourage diversification across multiple distribution channels to ensure balanced growth across the industry

Irdai to introduce norms for more qualified insurance sales personnel

Tripathy said that despite the rapid growth in the insurance industry in recent years, there is a gap in education and upskilling of the industry's employees

'Credit card delinquencies rise in June even as issuance growth drops'

According to CRIF Highmark report, highest delinquency was in credit cards with limits less than Rs 50,000

Banks compliant with Trai's new regulations on message traceability

According to senior public sector bank executives, all the mobile phone numbers are white-labelled for call centres, and compliances are in place as far as large commercial banks are concerned

Non-life insurers' premiums increase 4.4% in November, shows data

According to data from the General Insurance Council, general insurers collected Rs 21,671.43 crore in premiums in November, reflecting a 4 per cent YoY increase

Life insurance premiums in November slip 4.5% to Rs 25,306.56 crore

According to a Nuvama report, private sector growth picked up in November 2024 as the industry adapted to the changes in surrender value regulations

HSBC India launches premium credit card Prive for private banking clients

The bank has unveiled its first premium credit card, HSBC Prive, designed with privileges exclusively curated for its private banking clients

Lockton aims to double business outside US in 4 Years, says CEO Chris Brown

The insurance broker recently entered the Indian insurance market and acquired Arihant Insurance Brokers as a strategic initiative to gain entry into the broking market in the country

SBI Card surpasses milestone of 20 million credit cards in circulation

According to a press release by SBI Card, it achieved the milestone of 20 million credit cards in force, having started its credit card business in 1998

MFI stress not a big concern at a system level, says Swaminathan J

The apex bank has asked lenders to strengthen their underwriting standards and collection efforts to limit the conversion of stress into Non-Performing Assets (NPAs)

De-dollarisation not our objective, says RBI Governor Shaktikanta Das

He also mentioned that the idea of a currency for BRICS countries was floated by one of the countries; however, no decision has been made on the matter

RBI Innovation Hub develops MuleHunter.ai to combat mule account frauds

The RBI has taken several measures to prevent and mitigate digital frauds in the financial sector, including the issuance of cybersecurity and cyber fraud prevention guidelines, among others

Irdai issues show cause notice to Star Health for violating norms

The company must provide a reply within 21 days from the date of receipt of the notice, along with the supporting documents

Over 70% MSMEs use biz loans for immediate financial needs: Study

There is higher demand for working capital expenses, emphasising the liquidity challenges and short-term cash flow gaps faced by businesses in managing their day-to-day operations

RBI approves Canara Bank's stake sale in MF, insurance subsidiaries via IPO

Canara Robeco AMC was established in 1993 and was initially known as Canbank Mutual Fund

PB Fintech board approves incorporation of a healthcare subsidiary

The company along with its nominee(s) will initially subscribe to 50,000 equity shares at face value of Rs 10 each

PNB Housing Finance to start LAP vertical from April 2025: MD & CEO

LAP will be a part of the retail business, which includes the prime, affordable, and the emerging housing segments

Smallholder agriculture key to achieving Viksit Bharat goal by 2047: Mishra

Mishra emphasised the critical role of agricultural growth in poverty reduction, especially in rural areas