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RBI clears payment aggregator licence for Razorpay, PineLabs & Stripe

Payment aggregators enable e-commerce sites and merchants to accept payment instruments from customers without the need for merchants to create their own payment integration system

LIC gains 2% market share in new business premium in April-June quarter

NBP, however, is below the FY21 and FY20 levels

Life insurers' new business premiums grow 4.1% in June to Rs 31,254 cr

However, in Q1, the industry posted a 40% YoY growth in new biz premiums

Canara Bank and HDFC Bank hike MCLR, month after RBI raised repo rate

Canara Bank's overnight and one-month MCLR are at 6.75 per cent now and HDFC Bank's website, the private lender's overnight MCLR now stands at 7.70 per cent

Non-life insurance industry reports a 21% YoY growth in premiums in June

In the June quarter, the non-life insurance industry netted premiums to the tune of Rs 54,492 crore, up 23 per cent YoY

How and how often you drive to determine your car insurance premium soon

The concept of 'pay as you drive" stems from the fact that policyholders will be charged premiums based on vehicle usage

IndiaFirst Life Insurance selects bankers for IPO expected later this year

IndiaFirst will be the fourth private sector life insurer to get listed on the bourses

HDFC twins' merger: RBI awaits more data to decide on dispensation request

At present, HDFC, being a non-banking financial company, does not have to comply with the CRR, SLR and priority sector obligations like banks

Credit-deposit growth gap widens to a three-year high of nearly 5%

Development fuels concern that slow deposit growth could emerge as one of the biggest constraints for loan growth in the system

PPI credit ban likely to hit 8-10 million BNPL users, says industry

Industry fears it may lead to systemic risk from a lending standpoint

RBI's credit line norms: Card-based fintech players may have to stop offers

Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc

Decoded: The tizzy over RBI's ban on loading PPIs from credit lines

PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them

Amid geo-political risks, RBI mulls domestic processing of transactions

In its Payments Vision Document released last week, the RBI said keeping in view the emerging geo-political risks, options would be explored to ring-fence domestic payment systems

Account aggregator system for credit access all set to onboard GSTN, PSBs

It is also in talks with insurance behemoth Life Insurance Corporation (LIC) to start the onboarding process

Ban on loading through credit lines: PPIs call for clarity from RBI

Opinion is divided over whether or not the circular will impact the popular 'Buy Now Pay Later (BNPL)' schemes offered by many fintechs

RBI extends date for implementing provisions on credit, debit card issuance

Issuers given more time for OTP-based activation, ensuring credit limit is not breached without cardholder's consent

Non-banks not allowed to load credit lines on prepaid wallets, cards: RBI

This circular by the RBI is likely to impact those fintech players who offer credit lines to customers via their wallets in association with non-banking finance players.

In 5 yrs, we'd like to be No. 1 in bancassurance: LIC chairperson MR Kumar

We firmly believe that once the market stabilises, our inherent strength and performance will be recognised

Payments Vision 2025: RBI aims to regulate BigTech, FinTechs, BNPL services

Titled "Payments Vision 2025", this document aims to provide every user safe and affordable e-payment options

Further fall in rupee to hurt students taking loans to study abroad

The rupee has been depreciating sharply ever since tensions broke out between Russia and Ukraine in February