Page 49 - Aathira Varier

Insurance firms eye tax reliefs in upcoming Budget to boost penetration

Life insurance companies have called for tax deductions on annuity products as well as lower goods and services tax (GST) on their products

Federal Bank Q1 results; Advances up 20%, total deposits grow 19.6%

Retail credit book grows 25%, according to internal classification of the bank

We will plan for an IPO at right time, right environment: IndiaFirst CEO

Gandhi spoke on the insurer's distribution and product portfolio plans which are expected to drive the premium growth of the company

Don't want to play the price game: Aditya Birla Health Insurance CEO

Bathwal discussed the premium growth and product launches that will support the growth along with the impact of regulatory developments

Health insurer Niva Bupa files IPO papers with Sebi to raise Rs 3,000 cr

The company intends to utilise net proceeds from the fresh issuance to the extent of Rs 625 crore towards strengthening their capital base and aiding solvency levels, and for general corporate purpose

Tech to risk perception: Co-lending model battles 'multiple issues'

Colending happens when multiple lending partners enter into an arrangement to provide loans to priority sectors like micro, small, and medium enterprises (MSMEs)

HDFC Life Insurance gets a tax demand of Rs 1,495 cr from I-T dept

The company had certain marketing and advertising expenses in financials that were considered as admissible expenses incorrectly while calculating the taxable surplus in the policyholder's account

Tech to risk perception: Co-lending model battles 'multiple issues'

Model was set up six years ago to strengthen credit flow to sectors that struggle to get financing

RBI's action against regulated entities rises even as amounts fall

According to Financial Stability Report, the enforcement action by the banking regulator increased to 161 entities in December 2023 - May 2024 from 146 entities in June 2023 - November 2023

CBIC clarifies on taxability of salvage value in motor insurance claims

General insurers have to pay GST liability in case of disposal or sale of the salvage after settling the claims

Credit cards circulation increases by 18% to 103.3 million in May

Credit card spending in May 2024 increased by 17 per cent Y-o-Y to Rs 1.65 trillion from Rs 1.55 trillion in April 2024, rising by 6.45 per cent

Mahindra Finance's CFO Vivek Karve resigns; to pursue other interests

However, he will continue with the company beyond his notice period, till October 31, 2024, to ensure a smooth transition

GST Council's tax norm tweaks may ease burden on general insurers

According to insurance industry officials the decision is a big solace for the insurance & reinsurance industry as no tax can be levied on co-insurance premium and reinsurance commission

Anuj Tyagi to succeed Ritesh Kumar as MD & CEO of HDFC Ergo from July 1

Tyagi, who currently serves as the deputy MD, joined the company in 2008

New surrender value norms: Life insurers likely to alter product mix

To push Non-par policy sales till Sep 30

Don't sell Ulips as investment products: Irdai to insurance companies

Insurance companies will have to specifically state that market-linked insurance plans are different from traditional endowment policies and carry risks

Bank-NBFC interconnectedness poses systemic risks: RBI ED Lakshmi Kanth Rao

"Sector needs strong regulatory standards to ensure no gaps"

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