Page 63 - Aathira Varier

Outward remittances dropped about 40% in July to $2.36 bn: RBI data

During the reported month, deposits remitted declined to $50.12 million from $227.23 million in June

Overall general insurance premium slip by 4% to Rs 23,550.2 crore in August

Overall the group health segment registered 14 per cent increase to Rs 3760.1 crore from Rs 3296.4 crore in August 2022 due to better coverage

IBBI addresses CIRP delays, proposes reforms to streamline process

To address these concerns, the IBBI recently proposed four changes to CIRP regulations aimed at reducing delays, as outlined in a consultation paper

RBI's financial inclusion index printed at 60.1% in March 2023, shows data

The FI Index was introduced in 2021 to capture the extent of financial inclusion throughout the country

MasterCard appoints former SBI chief Rajnish Kumar as chairman

Veteran banker will have non-executive advisory role and guide Mastercard's South Asia executive leadership team

RBI releases list of 15 NBFCs in upper layer under scale based regulations

All deposit-taking NBFCs and non-deposit-taking NBFCs with an asset size over Rs 1,000 crore are in the middle layer

Healthy loan book growth likely to drive profitability of banks in FY24

Analysts at the agency maintained a positive outlook on the banking sector amid expectation that credit growth in the banking sector in the financial year 2023-24

60% people think their banks are 'bureaucratic, inefficient': Report

In a second survey, of the 11,357 participants, 41 per cent families have 1 or more bank accounts that they are unable to access online

Citi India FY23 profit jumps threefold Rs 13,614 crore on retail arm sale

Citi's total assets stood at Rs 2,17,302 crore as at March 31, 2023. Citi concluded the deal with Axis Bank in March this year

IDFC First Bank's MD and CEO V Vaidyanathan to raise stake in bank

GQG Partners acquires shares of IDFC First Bank through block deal

Bajaj Finance plans to enter new car, MFI, tractor finance segments

Bajaj Finance is already into used car financing and is in the process of tying up with dealers for new four-wheeler financing

Many Indians' intent to buy insurance doesn't lead to action: Report

Consumers spend 11% of their annual income on life insurance and 8% on health insurance, it says

Debit card usage slow for three years and UPI transactions up 428%

In August, UPI transactions hit 10 billion for the first time in a month. Monthly UPI payments are clocking more than Rs 15 trillion

General insurance companies' premium up 12% to Rs 19,290 crore in August

Life Insurers NBP continue to decline

RBI decides to withdraw incremental CRR by Oct 7 in phased manner

Net impact of incremental CRR was estimated to be little more than Rs 1 trn

Frictionless credit helped cut operational cost to lenders: RBI's Choudhary

Speaking at the Global Fintech Fest 2023, Choudhary spoke of the importance of customer centricity and governance to ensure the sustainability of fintech entities

Sold Credila as merger required lengthy regulatory approval process: Parekh

On July 1, housing finance major HDFC completed the reverse merger with its subsidiary HDFC Bank

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