Page 4 - Aathira Varier

22 years later, RBI set to resume UCB licensing through on-tap framework

The Reserve Bank of India will soon issue draft guidelines for on-tap licensing of urban co-operative banks, setting stringent eligibility norms for credit co-operative societies seeking conversion

General insurance shares up after Supreme Court's Motor TP directions

Shares of general insurers advanced after the Supreme Court directed the insurance regulator to consider longer Motor Third Party insurance tenures and measures to improve insurance coverage.

RBI proposes to harmonise framework on interest rates on advances: Malhotra

The proposed framework seeks to standardise loan pricing, benchmark reset dates and interest calculation practices while strengthening transparency and consumer protection

RBI says bulk deposit norms aim to improve transparency, standardisation

Governor Sanjay Malhotra says the RBI's revised bulk deposit framework seeks to improve transparency and standardise deposit rate disclosures without making major changes to existing norms.

RBI to issue new draft norms for urban cooperative bank licensing shortly

The proposed framework sets capital, asset quality and governance criteria for cooperative credit societies seeking to become urban cooperative banks after a two-decade pause

LIC's OFS oversubscribed 3.32 times; govt uses 4% greenshoe option

Shares tumbled nearly 9% on Tuesday even as bids worth over Rs 36k cr recd; settle at an over two-month low

Irdai's revised share-transfer regulations may raise compliance burden

Legal experts say the revised regulations could require more insurance share transfers to seek prior regulatory approval, despite higher thresholds under the SBSR Act

Insurers expect claims worth ₹5K cr amid floods, waterlogging in Gujarat

Most claims are expected from property insurance, with motor claims likely to follow, but insurers do not expect the losses to trigger a revision in property insurance rates

Bajaj Finserv enters reinsurance; third private player in one year

The board approved Bajaj Finserv's entry into reinsurance, subject to Irdai approval, as competition intensifies in a market long dominated by GIC Re

Irdai tightens intermediary rules, eases insurers' investment norms

The regulator has mandated greater sales traceability and disclosures for intermediaries while allowing insurers more flexibility in investment across select asset classes

Bajaj Finance's FINAI to unlock growth for next 8-10 years: Rajeev Jain

Lender plans to deploy over 300 AI use cases in FY27 and targets Rs 40 trillion in assets under management over the next decade

Irdai approves Patanjali Ayurved, DS Group's acquisition of Magma General

Regulator clears acquisition of Magma General Insurance from Sanoti Properties, with Patanjali to acquire a 73.56% stake and DS Group 24.50%

Irdai grants licence to ProTec General Insurance, fourth approval in 2026

Regulator also approves reforms covering investment norms, intermediary registration, capital raising, governance and policyholder protection measures

Banks double cyber insurance cover to $100 mn as digital threats intensify

Higher cyberattacks, rising claim severity and tighter regulatory scrutiny are prompting banks and financial institutions to significantly increase cyber insurance cover

Canara HSBC Life guides for 22-23% VNB margin in FY27: Anuj Mathur

Canara HSBC Life plans to expand its agency network to 5,000 distributors, grow alternate channels and deepen AI adoption to drive growth and profitability

Tata Capital's Q1FY27 results: Net profit rises 56% to ₹1,547 crore

The net interest income (NII) of the NBFC rose 25 per cent year-on-year to Rs 3,571 crore, while total income grew 23 per cent year-on-year to Rs 4,455 crore

Bank of Baroda aims $3 bn in FCNR (B) deposits: MD & CEO Debadatta Chand

Bank of Baroda expects RoA above 1% in the remaining FY27 quarters, despite a one-time litigation settlement, while retaining confidence in growth and profitability

Targeting ₹20,000 cr gold loan goal portfolio in 3 years: Umesh Revankar

Shriram Finance retains FY27 AUM growth guidance despite fuel price concerns, bets on aggressive gold loan expansion and expects NIMs to stay strong

Credit card spends hit ₹2 trillion for the second straight month in June

Overall spending rose 9.8 per cent year-on-year as HDFC Bank and SBI Card led growth, while outstanding credit cards crossed 121.6 million

Shriram Finance's Q1FY27 results: Earnings zoom 60% to ₹3,444 crore

Shriram Finance posted a 60% jump in Q1FY27 net profit to ₹3,444 crore, driven by strong NII growth, higher AUM and an improvement in net interest margin