Page 61 - Aathira Varier

Fintech companies need to set up self-regulatory body: RBI governor

He cautioned the fintechs that they should not get carried away with valuations and revenue but need to focus on customer satisfaction

IRDAI Chairman bats for more players in segment to cater India's population

As an effort to set up a conducive environment for new participants and to boost innovation in the segment, the regulatory body is said to have taken several steps

Fintechs can act both as competitors and collaborators: T Rabi Sankar

He said regulators also draw comfort in these arrangements as traditional financial entities- banks, NBFCs which are well regulated will continue to discharge the basic responsibility

Monetary policy, rate transmission are asymmetric, says SBI report

In comparison, the shorter tenure 3-year AAA corporate bond has seen a 31 bps decline in spread. This is because the market is unlikely to have factored in adequate risk premium, the report said

SBI Card unveils additional features on its super-premium card 'AURUM'

The card also offers 1-year Club Mariott membership as a welcome gift

Irdai approves modification on withdrawn life insurance products

The alterations are introduced to give additional benefits and flexibility to existing policyholders, ensuring they are not adversely impacted

ICICI Pru Life Insurance launches a product offering income for 30 years

Further, customers can customise the product from a range of income benefits and premium payment terms, among other flexibilities, stated the press release

Credit card spend hits new high in July at Rs 1.44 trillion: RBI data

The data showed that e-commerce payments cornered 65.71 per cent of the total credit card spend in July, with PoS (point-of-sale) transactions accounting for 34.28 per cent

Axis Bank launches 'Infinity Savings Account' with zero transaction fees

The bank offers two subscription-based flexible plans: Monthly and Annual

RIL AGM: Jio Financial to partner foreign firms for insurance sector play

Company will offer general and health insurance products through 'seamless digital interface', says Mukesh Ambani

Commercial banks' deposit growth nearly at 7-year high, shows RBI data

Deposit growth hit 14.12% on 6 Jan, 2017, months after demonetisation of Rs 1000 currency note and the then Rs 500 note which was announced on 8 November 2016

RBI guv Shaktikanta Das asks NBFCs to reduce reliance on bank borrowing

Cautions on risk with unsecured lending; Remain alert against complacency

Irdai directs insurance companies to settle HP flood claims on urgent basis

The relentless floods and landslides that have wreaked havoc in Himachal Pradesh caused widespread loss to property, including homes and businesses, as well as infrastructure

HDFC Bank, Marriott Bonvoy to launch co-branded hotel credit card

The co-branded card offers a slew of benefits ranging from a free night award valued at up to 15000 points which can be redeemed at Marriott Bonvoy's participating hotels globally

Irdai lowers minimum capital need for foreign reinsurers to Rs 50 crore

Alongside lowering the capital requirement, IRDAI has also restructured the order of preference to four categories from the existing six levels

Muthoot Fincorp Ltd launches all-in-one app for financial services

The application offers a wide range of services including MSME and gold loans along with investment in products like Digital Gold and NCDs

SRG Housing Finance plans to surpass Rs 1,000 cr AUM in 3-4 next years

The loan disbursement of the company in the entire FY23 stood at Rs 191 crore which the management project to move towards Rs 250 to 300 crore in FY24

Outward remittances under RBI's LRS rise 50% to $9.1 billion in Q1

According to the latest RBI data, the amount remitted under LRS stood at $9.1 billion in Q1FY24, compared with $6.05 billion in the same quarter last year

Tata Capital onboards Indian cricketer Shubman Gill as brand ambassador

The Non-Banking Finance Company (NBFC) anticipates a period of consistent, market-leading growth across its segments

Life Insurance Corp picks up 6.66% stake in Jio Financial Services

The cost of the acquisition was 4.68 per cent of the pre-demerged cost of Reliance Industries Ltd