Page 6 - Aathira Varier

MFI portfolio drops 9% YoY to Rs 3.34 trillion as of April 2026: Equifax

India's microfinance sector saw slower loan growth and disbursements in FY26, though asset quality improved sharply amid tighter underwriting and credit monitoring

Aviva Life targets 3x jump in annualised new business premium in 5 years

The insurer currently has around 350,000 customers and plans to increase annual customer additions from nearly 25,000 at present to 50,000 initially, before gradually scaling up to 75,000

Growth in protection products drives new biz value for life insurers

Higher sales of protection and non-participating products helped life insurers report robust VNB growth in FY26 despite higher operating costs linked to GST changes

Irdai asks insurers to link performance pay with customer service metrics

The insurance regulator has revised remuneration norms for senior executives, mandating stronger focus on claims settlement, grievance redressal and policyholder outcomes

Rupee falls after three-day rally amid spike in crude oil prices

The rupee weakened against the dollar as crude oil prices surged following fresh US strikes on Iran and concerns over disruptions in the Strait of Hormuz

Credit card spends rise 7% to ₹1.97 trillion in April 2026: RBI data

Credit card spends rose 7.06 per cent year-on-year in April 2026, driven by growth in PoS and e-commerce transactions, according to RBI data

RBI forms panel to study quantum technology risks in finance sector

RBI has constituted an expert committee to assess risks and opportunities linked to quantum technology and recommend a roadmap for a quantum-secure financial ecosystem

RBI sets 3-year cooling-off for co-op bank directors after 10 years

RBI has mandated a three-year cooling-off period for directors of urban co-operative banks after 10 continuous years on the board

India's extreme heat spell giving parametric insurance a longer season

Extreme heat and erratic weather fuel sharp rise in demand for parametric insurance covers

Net FDI into India rises sharply to $7.65 billion in FY26: RBI data

Net FDI into India rises sharply in FY26, aided by higher gross inflows and reinvested earnings, though portfolio investment flows remain weak

Outward remittances slipped 2% to $28.98 billion in FY26: RBI data

India's outward remittances under the Liberalised Remittance Scheme declined in FY26 amid weaker overseas education and international travel spending

Intermediary-led model keeps insurance costs elevated: Praxis Global

Praxis Global Alliance says high intermediary commissions keep general insurance expense ratios elevated, with renewal business continuing to remain acquisition-cost heavy

LIC Q4 results: Net profit rises 23% to ₹23,420 crore on higher income

LIC reported a 23 per cent rise in fourth-quarter profit on higher premium and investment income, while FY26 profit touched a record Rs 57,419 crore

India's outbound FDI commitments decline 10.8% to $5.6 billion in April

India's outward foreign direct investment commitments fell 10.8 per cent year-on-year in April, led by lower guarantees and debt commitments

Irdai withholds variable pay of some insurers' CEOs over expense targets

Regulator's action follows unmet 'expense of management' targets

RBI allows lenders to disable financed mobiles in loan default cases

The RBI has proposed allowing lenders to restrict financed mobile devices in loan default cases, while mandating safeguards, borrower notices and compensation for wrongful action

Eurobank opens India office, enables UPI-based remittance service

The Athens-headquartered lender will become the first European bank to enable cross-border remittances to India through the UPI framework

Life insurance companies seek broader guardrails for CEO salaries

The regulator cited that the CEO salaries account for major chunk of wage expenses of the company

Credit card adoption rises in Tier-II, -III cities: SBI Card report

Rising incomes, digital adoption, and UPI-linked RuPay cards are accelerating credit card usage in smaller cities, according to SBI Card's latest report

Prudential's India reboot comes with a distribution problem and growth test

Experts said lack of a strong bancassurance or agency network could remain a structural hurdle for Bharti Life Insurance, even as Prudential brings capital strength and experience in India