Page 32 - Aathira Varier

Pvt lender HDFC Bank launches rural and semi-urban focused savings account

The bank's network of over 4,600 branches in semi-urban and rural locations will serve as touchpoints to leverage this product, covering nearly two-thirds of India's population

Indians see wallets drain by Rs 485 crore in 'UPI scams' in FY25

Over 600,000 incidents of fraud have been reported in the ongoing financial year till September

Indian banks write off Rs 1.7 trillion in loans in FY24, shows govt data

Loan write-offs by banks in FY24 are the lowest in the last five years

Demand for super top-up health insurance plans rises after Covid pandemic

A super top-up health insurance plan pays the policyholder for medical expenses that exceed the coverage limit of their base health insurance policy

Bima Sugam's capital requirement goes up significantly to Rs 500 crore

During the two-day Bima Manthan held in Hyderabad, insurance companies were informed of the revised capital requirement for Bima Sugam, amounting to Rs 500 crore over 4-5 years

Forex reserves log sharpest weekly drop; fall $17.76 bn to hit 4-month low

The previous highest weekly fall in foreign exchange reserves was $15.5 billion, recorded for the week ended October 24, 2008, during the global financial crisis

SBI launches low-cost tailored vehicle loan for Uber's fleet partners

The collaboration is aimed at supporting both new and existing Uber fleet partners, helping them expand their businesses

Insurance marketplace Bima Sugam's capital requirement to rise to Rs 500 cr

Digital platform will allow consumers to compare, purchase and manage life, health, general insurance products

Outward remittances under LRS drop 14.88% in H1FY25, shows RBI data

The remittances for maintenance of close relatives fell by 37.17 per cent Year-on-Year (YoY) to $1.92 billion as compared to $3.05 billion

Indian insurtech funding drops 40% in 2023, revenue shows multifold growth

India now has over 150 insurtechs generating revenue exceeding $750 million, with 10 unicorns or soonicorns and more than 45 minicorns

A lot of 'ills' have crept into the system: Panda on product mis-selling

'You don't need to chase customers. You have to give the option to the customer. No mis-selling, no force-selling, the Bima Sugam will also facilitate that,' says Debasish Panda

Banks need to make loans more affordable, says FM Nirmala Sitharaman

The Finance Minister also said that inflation is very volatile because of supply and demand constraints

GST Appellate Tribunal to start operations by the end of FY25: Revenue Secy

In May 2023, Union Finance Minister Nirmala Sitharaman appointed Justice (Retd) Sanjaya Kumar Mishra as the President of the GST Appellate Tribunal (GSTAT)

New surrender value norms: Life insurers turn to policies with high value

Despite the fall in number of policies, the new business premiums of life insurers grew in double digits

Galaxy Health aims to be a major health insurance player in 2-3 years: CEO

In March, Galaxy Health received approval from the insurance regulator to start a health insurance business in India, taking the total number of standalone health insurers in the country to seven

'Insurance coverage expansion to underserved segments can save govt $10 bn'

The gross written premium of Indian insurance has exceeded $130 billion and grown at a CAGR of 11 percent, in the three-year period FY20-23, outpacing its Asian counterparts

Non-life insurers post 27.5% premium growth in October, shows data

Data indicates that general insurers collected Rs 25,396.68 crore in premiums in October, reflecting a 23 per cent Y-o-Y increase

GIC Re Q2FY25 results: Net profit increases 16% to Rs 1,860.76 crore

The underwriting loss of the company decreased by 26 per cent to Rs 1,088.43 crore from Rs 1,471.61 crore

DBS Bank India awaits RBI nod for new CEO as incumbent Shome set to retire

Following a successful career at the helm of DBS Bank India since April 2015, Shome had indicated his desire to retire some time ago

No plan to bring clawback clause, says LIC MD & CEO Siddhartha Mohanty

LIC launched 32 products on October 1, 2024, as per the revised norms, and currently, the corporation has 35 products