Page 28 - Aathira Varier

RBI's LRS review to align with wider economic, geopolitical conditions

The central bank is reassessing annual limits, permitted uses, currency options and compliance alignment in its Liberalised Remittance Scheme amid evolving economic realities

Fake ₹500 notes at six-year high in FY25, ₹2000 counterfeits fall: RBI

The number of counterfeit notes below ₹200 denomination also rose by 13.9 per cent YoY to 32,600 pieces

Insured deposits rise 7% to ₹96.7 trillion as of Sept 2024: RBI report

RBI annual report shows insured deposits rose to ₹96.7 trillion with 97.7% of accounts covered; DIF grew 15.2% while ₹476 crore in claims was settled in FY25

General insurers launch ₹120-cr campaign to raise insurance awareness

With penetration slipping to 3.7% in FY24, general insurers roll out "Acha Kiya Insurance Liya" campaign modelled on mutual fund success to drive awareness

LIC Q4FY25 results: Net profit up 38% at ₹19,012 crore on lower costs

Insurer earned Rs 73,000 crore profit from equity markets in FY25

GIC Re Q4FY25 results: Net profit declines 17.4% to ₹2,182.89 crore

GIC Re's Q4 net profit fell 17.4% YoY to ₹2,182.89 crore due to underwriting loss; full-year profit up 3.1% to ₹6,701.36 crore; solvency ratio improves to 370%

Term life buyers opt for higher cover and avoid long tenure policies

Rising premiums for longer durations and features like smart exit prompt shift to shorter term insurance policies with higher sums assured of ₹2-5 crore

Credit card spends rise 18% to ₹1.84 trillion in April, shows RBI data

Credit card spends surged 18 per cent YoY in April but fell 8.7 per cent from March, as issuers remained cautious on new cards due to stress in unsecured portfolios

Motor TP premium hike crucial for survival: New India Assurance CMD

New India Assurance CMD Girija Subramanian says motor third-party premium hike is urgent to ensure business viability as incurred claims hit 108.2 per cent in FY25

Outward remittances under LRS fall 6.85% to $29.56 billion in FY25

RBI data shows LRS outflows dropped to $29.56 billion in FY25 due to weak income growth, rupee depreciation, and lower transfers for education and close relatives

Foreign tourist arrivals strongly correlated with travel search: RBI report

Inbound tourism to India has rebounded strongly post-Covid, with search trends and foreign exchange data pointing to the sector's key role in employment and growth

Bharti AXA Life Insurance plans to break even by FY27: MD & CEO Parag Raja

Parag Raja outlines the 5-year roadmap of Bharti AXA Life Insurance

UGRO Capital to raise up to Rs 915 crore through preferential CCD issue

UGRO Capital's board approves Rs 915 crore capital raise via CCDs; capital adequacy to improve from 19.41% to 29.4%, with rights issue of Rs 400 crore also planned

We should be third-largest listed pvt insurer in 3 yrs: Prashant Tripathy

Axis Max Life Insurance managing director and chief executive officer talks about the company's strategy for 2025-26

LIC push lifts life insurers' new business premiums in April, shows data

According to Life Insurance Council data, the life insurance industry's NBP in April stood at ₹21,965.73 crore

Indo-Pak tensions trigger rise in war insurance cover enquiries from firms

Most commercial insurance policies exclude war cover but companies are seeking protection under aviation, marine and political violence categories amid rising tensions

IPL insurance claims not triggered unless tournament is cancelled: Experts

With IPL suspended for a week amid India-Pakistan tensions, experts say insurance claims will not apply unless the tournament is officially cancelled or war cover is triggered

Non-life insurers post 13.5% premium growth to Rs 33,688 cr in April

Gross direct premium underwritten by non-life insurers rose 13.5 per cent YoY in April to Rs 33,688 crore, led by growth in general and standalone health insurance

BFSI's risk index rise amid global economic stability, says CIRI report

BFSI sector's risk index rose amid inflation and geopolitical tensions even as risk mitigation efforts like digitisation and AI adoption supported operational resilience

Hike Motor TP rates, cut GST on health premiums: Non-life insurers to govt

DFS Secretary urges insurers to improve claims processing in order to reduce customer inconvenience