Page 37 - Aathira Varier

North East SFB to increase fixed deposit rate by 50 bps to 9.25%

The SFB is in the process of merging with fintech Slice to augment its capital base

Tata Communications raises $250 million sustainability-linked loans

ANZ acted as the lead sustainability coordinator for the loan, while DBS Bank and EDC were the joint sustainability coordinators

Govt appoints Girija Subramanian as CMD of New India Assurance Company

She is a fellow member of the Insurance Institute of India and also an associate member of the Chartered Insurance Institute, London

Board of Axis Bank gives nod to hike stake in Max Life for Rs 336 cr

Max Life Insurance is a subsidiary of Max Financial Services

Zurich completes 70% stake buy for Rs 5,560 cr in Kotak General Insurance

The stakes were acquired through a combination of fresh growth capital and share purchase

Self-regulatory organisations for NBFCs: RBI invites application

Central bank to recognise a maximum of 2 SROs for the sector

Outward remittances under LRS dips 2% in April, says RBI bulletin

According to the latest Reserve Bank of India (RBI) bulletin, the remittances under the scheme stood at $2.28 billion in April 2024, 1.98 per cent below $2.33 billion in April 2023

Slash GST on health insurance to 5% from 18%: Trade body to govt

Association says that renewal rates of the policies continue to decline due to frequent premium hikes and rising medical inflation

DICGC exceeds global average with month-long depositor payout: Patra

In India, deposit insurance is mandatory for all banks, including foreign banks. As of now, 1,997 banks are covered, which includes 140 commercial banks and 1,857 co-operative banks

PSBs outshine private, foreign peers in technical efficiency: SBI report

SBI report says takeover of weaker banks affected productivity of acquiring ones

Insurers likely to seek clarification from Irdai on new health circular

In the case of porting policies from one insurer to another, the regulator has asked the existing insurers to provide the required details to the acquiring insurance company within 72 hours

Non-life insurance companies report 15.5% increase in May premium

Among the companies, the industry leader, New India Assurance Company, saw a marginal drop of 0.67 per cent Y-o-Y in premium to Rs 2,404.34 crore

RBI will not force mergers of urban co-operative banks: RBI board member

In 2021, an RBI's expert committee had suggested that weak UCBs would get a regulatory nudge to explore voluntary merger

Irdai issues circular to create single reference for all periodic returns

The insurance regulator has taken up a comprehensive review of the regulatory framework for the insurance sector, to facilitate ease of doing business and reduce compliance burden

Multiple levers with insurers to mitigate higher surrender value: Experts

The Insurance Regulatory and Development Authority of India (Irdai) in its 'Master Circular on Life Insurance Products' issued on Wednesday prescribed enhanced Special Surrender Value (SSV)

Demand for OPD benefits on rise among health insurance policyholders

While demand for OPD benefits was present before, insurance industry experts believe that the Covid-19 pandemic pushed the demand further

Regulator Irdai mandates life insurers to provide loans against policies

The regulator has also allowed policyholders an option of partial withdrawal under pension products

Insurance companies can't reject claims for lack of documents: Irdai

The regulator said that the insurer cannot reject claim in full or part if the breach of warranty or condition is not relevant to nature or circumstance of loss

Life insurance industry's new business premium grew 15.5% in May

LIC drives growth with 18.7% rise

Bajaj Housing Finance files papers with Sebi for Rs 7,000 crore IPO

The funds raised from Bajaj Housing Finance's fresh issue will be used to augment its capital base to meet future business requirements