Page 51 - Subrata Panda

ADIA to invest Rs 665 cr in Aditya Birla Health Insurance for 9.99% stake

The transaction values the company at Rs 6,650 crore

RBI guidelines may lead to high compliance cost for digital lending apps

Industry associations are likely to approach the RBI to weed out any interpretational ambiguity

RBI issues digital lending norms, reserves space for regulated entities

Only entities regulated by RBI or other bodies permitted by law can carry out digital lending, says RBI

Bank of Baroda to increase MCLR rates by up to 0.2% from August 12

The interest rate hike comes after the Reserve Bank of India's (RBI's) six-member monetary policy committee (MPC) raised the benchmark repo rate by another 50 bps to 5.40 per cent last week

Over next few quarters, Axis Bank will increase stake: Max Life CEO

'The value of new business (VNB) grew 23 per cent - this means we improved our margins and our total assets under management grew 14 per cent'

Mswipe Technologies gets RBI approval for payment aggregator's licence

Joins companies allowed to manage and process merchants' online transactions

Need to watch out for inflation impact: Bajaj Allianz General Insurance CEO

The general insurance industry has reported sound growth in the first quarter (Q1) of financial year 2022-23 (FY23) thanks to group health and motor businesses

New business premiums of life insurance companies jump 91% in July

This is thanks to strong premium growth by LIC

HDFC Bank, IDFC First hike MCLR post repo rate hike by Reserve Bank

Most banks have revised their external benchmark linked loan rates by 50 bps

HDFC hikes retail prime lending rate on housing loans by 25 bps from Aug 9

The mortgage lender has raised rates by 140 bps since May, passing on the entire repo hike to borrowers

SBI reports 6.7% dip in standalone net profit at Rs 6,068 cr in Jun qtr

Net interest income of the lender grew 13 per cent YoY to Rs 31,196 crore in Q1FY23

NRIs can now pay utility bills through Bharat Bill Payment System

More than 80 million transactions are processed on the payments platform on a monthly basis

Banks can't rely on RBI money 'perennially' for credit demand: Governor Das

Slow deposit growth may create funding challenging for lenders in the festival season

RBI stays hawkish in fight against inflation; MPC reverses Covid-era cuts

RBI hikes repo rate by 50 bps, keeps FY23 inflation, growth forecasts at 6.7% & 7.2%; home loan rates set to exceed 8%

HDFC Ltd secures $1.1 bn syndicated social loan for affordable housing

This transaction is the largest social loan globally, the first social external commercial borrowing (ECB) loan out of India and the largest ECB loan deal from a HFC or private NBFC in India

Ahead of festive season, lenders have a new worry of sub-9% deposit growth

Credit to industry has also expanded 9.5 per cent during this period

All 12 public sector banks go live on account aggregator network

Around 0.97 million accounts have been linked to the ecosystem so far; around 0.93 million consents have been given during the same period

Irdai proposes limits on expenses of management of life insurers

Insurance regulator releases exposure draft aiming to provide greater flexibility to insurers as far as their corporate agency tie-ups are concerned

RBI's March financial inclusion index shows growth in all segments

The index has risen to 56.4 in March 2022, against 53.9 as of March 2021

June credit card spends remain above Rs 1 trillion-mark, shows data

Notwithstanding MoM decline, spends up fourth month on the trot