Page 32 - Aathira Varier

Nabard to tap global agencies to set up carbon fund: Chairman Shaji K V

According to a recent study by the Coalition for Disaster Resilient Infrastructure (CDRI), globally, assets worth nearly $800 billion are getting affected on an annual basis due to climate change

Irdai asks insurance companies to integrate IT systems with Digilocker

According to the circular, both life and general insurers are mandated to provide an essential summary of important information at different stages of the insurance contract

Need to bring 80% MSMEs under formal financial system: M Nagaraju

Banks have an undisputable responsibility in advancing the agenda of inclusive growth, which is fundamental to the economic and social development of the country

Star Health to collaborate with foreign insurers for inward reinsurance

The agency force accounts for nearly 80 per cent of the health insurer's overall business

FinMin to develop climate finance taxonomy in 6-10 months: DEA secy

Climate finance taxonomy is a set of guidelines that will help investors and institutions direct funds towards investments that will aid in tackling climate change

Mis-selling of life insurance policies at alarming level, says Irdai

According to Satyajit Tripathy, Member-Distribution of Irdai, life insurance grievances are often related to the product, while non-life grievances usually concern claim payments and exclusions

India must avoid sway of fin mkts' expectations over macro outcomes: CEA

Speaking at the CII Financing 3.0 Summit in Mumbai, Nageswaran stated that when the financial sector is in excessively robust health, the health of the rest of the economy becomes fragile

Plan to diversify in India, abroad: GIC Re CMD Ramaswamy Narayanan

We plan to finish at around Rs 42,000-43,000 crore for FY25, up 15-16 per cent from last year at Rs 37,000 crore, driven by the health segment to a great extent, said GIC CMD Narayanan

Banks will lose out if they don't partner fintechs: Axis Bank CEO

He highlighted that as customers transact more digitally, the banks' operating costs will come down

Credit cards issuance in country increases by 16% to 104.6 mn in July

Credit card spending in July 2024 increased by 19 per cent Y-o-Y to Rs 1.72 trn in July

RBI cautions against fraud, warns against sharing OTP and KYC details

The RBI also detailed various modus operandi used by fraudsters

Bank-fintech tie up will boost innovation, risk management: RBL CEO

The experience of banks and non-banking financial companies (NBFCs) in risk underwriting and risk assessment will help in improving customer experience

Market correction may drive deposit growth for banks: SBI MD Tewari

Tewari said that the deposit and credit gap is expected to correct next year as per the SBI's research

Financial firms in last-minute rush to comply with Trai mandate on URLs

But most banks play down impact, say they do not send promotional links

Jio Financial ups stake in Jio Payments Bank to 82.17% for Rs 68 cr

The company subscribed to 6.8 crore equity shares of Jio Payments Bank for its business purposes

Medi Assist Insurance TPA to acquire Paramount Health for Rs 312 crore

Paramount TPA works with 30 insurers and more than 3,000 group customers and retail policyholders

87% of Indians believe increased financial uncertainty in 5 years: Report

Currently, family expenses, with an uncertainty score of 78, are the biggest concern among Indians, followed by health and life-related worries

Insurers have festivities covered as India prepares for celebrations

Step up coverage and costs for organisers and participants as festival season begins

Irdai forms task force to tackle challenges, boost growth of surety bonds

A surety bond is a risk transfer mechanism whereby an insurance company provides a guarantee to the beneficiary that the principal or contractor will meet their contractual obligations

As India prepares for festivals, insurers have celebrations covered

State support for Dahi Handi to Durga Puja prompts organisers to strengthen assets and participants