Page 50 - Aathira Varier

'Cashless everywhere' may cut claims cost, say insurance companies

The 'Cashless Everywhere' initiative aimed at making cashless treatment available for policyholders even in non-empanelled hospitals registered under the Clinical Establishment Act

Credit cards in force shy of the 100 million mark, shows RBI data

December saw highest addition of cards in 2023

SBI Life Insurance Q3 results: Net profit rises 5.8% to Rs 321.75 crore

Sequentially, it is 15.37 per cent lower than the Rs 380.19 crore profit accrued in Q2 FY24

Cashless treatment facility to be available across hospitals, says GIC

Currently, only 63 per cent of customers avail cashless treatment, whereas the remaining 47 per cent opt for reimbursement claims

Niva Bupa premium growth may slow down to 25-30% over next 3-5 years: CEO

The health insurer is also planning to come up with their Initial Public Offering (IPO) in financial year 2024-25, though the size has not been decided yet

Axis Bank Q3 net profit up 4% at Rs 6,071 cr, net interest income rises 9%

Net Interest Income reported 9 per cent growth to Rs 12,532 crore while other income was up 22% to Rs 5555 crore

HDFC Bank first lender to issue 20 million credit cards, shows data

HDFC Bank is the largest issuer of card issuers in the country, which commands over a fourth of the overall cards market in terms of numbers

Union Bank's Q3 net profit up 60% at Rs 3,590 cr, NIM inches down to 3.08%

The Net Interest Income (NII) of the bank grew by 6.26 per cent to Rs 9,168 crore from Rs 8,628 crore. Other income increased by nearly 15.4 per cent to Rs 3,774.30 crore from Rs 3,270.82 crore

LIC launches non-participating product Jeevan Dhara-II: Check details here

According to the exchange filing, the product, which will be available from 22 January 2023, is a non-linked, non-participating, individual savings deferred annuity plan

RBL Bank posts 11.5% growth in net profit to Rs 233 crore in third quarter

On the asset quality front, the Gross Non-Performing Assets (GNPA) was flat at 3.12 per cent sequentially. Meanwhile, the Net NPA of the lender inched down to 0.80 per cent from 0.78 per cent

RBI asks Ombudsmen to guide REs addressing recurring customer complaints

"A well-functioning Internal Ombudsman mechanism is beneficial for all stakeholders"

IndusInd Bank Q3 results: Net profit rise 17.2% to Rs 2,301.5 crore

The Net Interest Income (NII) which is the difference between interest earned and paid - stood at Rs 5296 crore for the period which was 17.81 per cent up from Rs 4495 crore in the year ago period

RBI clears appointment of whole-time director for 3 years by Bandhan Bank

The lender added that Babbar's three-year tenure will begin from the date of taking charge, which should be within three months from the date (January 17, 2023), of the said RBI approval

India insurance sector growth pegged at 7.1% in 2024-28: Swiss Re

The expanding economy, growing middle class, innovation and regulatory support are driving the insurance market growth in India

Federal Bank Q3 net up 25% at Rs 1,007 cr, to propose names for next CEO

Thrissur-based lender's asset quality slips, expects to recover slippages

Jio Financial Services Q3 results: Net profit down 56% to Rs 294 crore

The company's total expenses rose 38.53 per cent quarter-on-quarter (Q-o-Q) to Rs 98.9 crore compared to Rs 71.4 crore, primarily due to increase in other expenses

Budget 2024-25: Insurers hope for tax reliefs, provisions for uncertainties

Insurers have suggested introduction of a separate tax deduction limit for life insurance, waiver of taxation on annuity and pension products

LIC receives notification for tax refund of Rs 25,464 crore for 7 AYs

The insurer noted that it will file an appeal with the before Commissioner (Appeals) against all the tax notices

HDFC Life Q3 FY24 results: Net profit rises 16.6% to Rs 368 crore

The investment income rose by 130.7 per cent Y-o-Y to Rs 11,372 crore, from Rs 4,929.8 crore a year ago

Delays in IBC erode value of assets, says RBI governor Shaktikanta Das

Das says cybersecurity threat remains a major challenge