Page 37 - Aathira Varier

Budget 2024 proposes lower TDS for insurance commission, bonus payment

'Rationalisation of TDS from 5% to 2% for payment of insurance commission to individual agents will ensure additional income in the hands of such individuals for payments made by the insurers'

ICICI Prudential Life Q1 results: Net profit rises 8.9% to Rs 225.4 crore

The expenses of the company rose by 32.8 per cent to Rs 198.53 crore in the quarter under review as compared to Rs 149.47 crore in Q1 FY24

Sustaining good times: CEA Nageswaran for more gap between NPA cycles

Advises financial sector to resist temptation to pursue short-term profits at expense of customer

YES Bank Q1 result: Net profit rises 47% to Rs 502 cr as provisions fall

Its provisions declined by 41.2 per cent to Rs 212 crore in Q1 FY25, from Rs 360 crore in the year-ago period. Sequentially, provisions declined from Rs 471 crore in Q4 FY24

Outward remittances fell 16% in May due to increase in TCS: RBI bulletin

Remittances under the scheme stood at $2.42 billion in May 2024

Irdai imposes penalty of Rs 2 crore on Bajaj Finance, Aegon Life Insurance

Bajaj Finance said that the decision does not have any material impact on its financial, operational, or other activities, the company said in an exchange filing

HDFC Life's Q1 FY25 results: Net profit rises 15% to Rs 479 crore

The company is looking to raise Rs 2,000 crore in non-convertible debentures to shore up its solvency

LIC regains market in new business premium; private peers cede ground

LIC's market share had peaked at 68.25 per cent in Q3FY23 and gradually declined over subsequent quarters

Top private life insurance firms hike term policy premium by 4-7%

HDFC Life, Bajaj Allianz Life, ICICI Prudential Life, Max Life increase by 4-7%

Non-life insurance companies report 13.7% growth in premiums in Q1 FY25

Non-life insurers include general insurance companies, standalone health insurance companies, and specialised PSU insurers

HDFC Ergo General Insurance processes its first claim on NHCX platform

NHCX is a single-window interface developed by the National Health Authority (NHA). It provides a secure platform and efficient exchange of health insurance claims data

Q1 FY25 business update of banks: Deposits grew slower than loans

Bank of Baroda posted faster growth in advances than in deposits. The loan book of the BoB grew by 1.73 per cent while deposits improved by 1.59 per cent, sequentially

Higher share of Ulips likely to weigh on life insurers' profit margin

Non-life firms to post strong premium growth, benefit from low claims ratio

RBI approves Govind Singh's re-appointment as MD & CEO of Utkarsh SFB

The present term of Govind Singh is up to September 20, 2024. The board of the SFB had approved his re-appointment in the meeting held on January 27, 2024

Life insurance companies' new business premium up nearly 23% in Q1FY25

LIC leads with 28% growth in Q1; private players grow 14.6%

RBI imposes a monetary penalty of Rs 1.32 crore on Punjab National Bank

The charges have been imposed after considering the oral submissions made in response to the show-cause notice sent by RBI to the bank

RBI imposes penalty on YES Bank for not exchanging mutilated notes

RBI imposed a monetary penalty of Rs 10,000

Strong loan growth for small finance banks in Q1FY25, Casa declines

The deposits of the SFBs posted a double-digit increase from the quarter ended in June 2024. Deposits of Equitas SFB grew by 35.40 per cent, Capital SFB by 10 per cent, and Suryoday SFB by 42 per cent

LIC launches project 'Jeevan Samarth' to meet customers' evolving needs

The life insurance giant has partnered with A T Kearney to undertake the transformation project by reviewing the existing agency framework of LIC on an end-to-end basis

Banks Q1 loan growth remain strong, share of low cost deposits falls

The credit-to-deposit ratio of the Mumbai-based private sector lender Yes Bank rose to 86.8 per cent at the end of June from 85.5 per cent at the end of March