Page 4 - Aathira Varier

Berkley IFSC Branch first P&C insurer in GIFT City with dual licences

Berkley Insurance Company IFSC Branch has become the first P&C insurer in GIFT City to hold both insurance and reinsurance licences, and will focus on specialty lines by end-FY26

Banks cut loan rates for retail segments after RBI's 25-bps repo cut

Lending rates linked to external benchmarks drop from Dec 6, offering relief to home, vehicle, and personal loan borrowers

Bajaj Finserv targets a 22% profit CAGR, double customers in 5 years

Eyes listing on insurance arms, focus NRIs through GIFT City, pension funds biz post Allianz exit

Unclaimed deposits in Oct reduced by ₹760 cr: RBI deputy guv S C Murmu

Unclaimed deposits fell by ₹760 crore in October as RBI pushes awareness drives, improves UDGAM access, and plans a two-month campaign to clear pending grievances from January 2026

RBI examines Sebi plan on banks in non-agri commodity derivatives: Governor

RBI Governor Sanjay Malhotra says Sebi's move to let banks enter non-agri commodity derivatives requires amending the Banking Regulation Act and is under review after a prior rejection

DPDP rules lift cyber, D&O cover enquiries, but major demand yet to emerge

India's DPDP Act has prompted firms to reassess cyber and D&O liability limits, lifting enquiries but not yet translating into a surge in purchases

RBI defers credit information reporting norms for CICs to July 1, 2026

RBI pushed the amended credit information reporting directions to July 1, 2026 and eased reporting requirements after feedback, while also clarifying rules for BSBD accounts

In a first, complaints against private banks exceed PSBs in FY25

Private banks drew more complaints than state-owned lenders for the first time in FY25, as overall grievances under RBI's Ombudsman Scheme rose sharply

Centre appoints LIC CFO Ramakrishnan Chander as managing director

The Centre has appointed LIC's executive director and chief financial officer Ramakrishnan Chander as managing director from December 1, with his tenure running till September 2027

Govt does not give LIC directions on its investment decisions: FinMin

LIC's investment in Adani Group cos as of September 30 stood at Rs 48,284.62 crore

RBI Ombudsman complaints rise 13.6% in FY25, led by loan and card issues

Complaints under the RBI's Integrated Ombudsman Scheme grew to 1.33 million in FY25, driven by grievances over loans, credit cards and mobile banking

9 foreign reinsurers in talks to enter GIFT City through IIO route

There are also 10 reinsurers who are in their preliminary stages of discussion

Non-par products gain ground in listed life insurers' product mix in H1FY26

Volatile equity markets and lower deposit rates boosted demand for non-par guaranteed-return products in H1FY26, lifting their share across most listed life insurers except HDFC Life

Microfinance portfolio drops 17% in Q2; 5 million borrowers exit credit

India's microfinance sector saw its sixth straight quarterly decline in gross loan portfolio in Q2 FY26, with sustained funding squeeze pushing nearly 5 million borrowers out of formal credit systems

Two banks submit applications to start pension funds: PFRDA chairman

PFRDA chief S Ramann said two banks have applied to launch pension funds as regulator expands outreach to smaller cities, explores tech partnerships and plans to allow gold and silver ETF investment

Irdai asks insurers for customer-centricity, stricter grievance compliance

Irdai has raised concerns over rising complaints, urging insurers to improve grievance redressal systems, standardise classification processes

There is still room for us to reduce commission: Bajaj Life Insurance MD

MD & CEO of Bajaj Life Insurance, spoke about how the company has navigated the challenges related to the withdrawal of Input Tax Credit (ITC), how life has been after Allianz's exit

Insurance industry seeks stability amid regulatory and tax turbulence

Regulatory shocks and withdrawal of a tax benefit slowed down growth, nudging firms to focus on affordability, efficiency and chasing more customers

Insurance industry takes ₹10,000 crore hit each year on frauds: Report

A new BCG-Medi Assist report highlights how fraud, waste, and abuse are eroding insurer margins, inflating premiums and weakening sectoral RoE, with mid-ticket claims driving most leakages

Regulatory, customer pattern changes nudge foreign insurers' India interest

A slew of foreign insurers have already either bought stakes in existing insurance companies, or formed a new joint venture to tap the potential of the Indian insurance market