Page 57 - Subrata Panda

Outward remittances through RBI's LRS hit an all-time high in FY22

In FY22, outflows under the LRS scheme was to the tune of $19.61 billion, up 54.6 per cent from FY21, data released by the RBI showed

LIC shares drop 8% below issue price on debut, end at Rs 873 apiece

The insurance behemoth's shares hit an intra-day low of Rs 860 and a high of Rs 920, not coming closer to the issue price but providing small investors an opportunity to exit with nominal gains.

Policyholders who missed out on allotment will pick up LIC shares: MR Kumar

We will ramp up digital channels and make tactical tweaks on equity investments to please policyholders, said M R Kumar

EV fire incidents 'not a concern', insurers unlikely to hike premiums

The vehicle owner will be eligible for claims from an insurance company in the event of a two-wheeler EV catching fire, only if he/she has a comprehensive motor insurance policy

Bandhan Bank Q4 net soars to Rs 1,902 crore; NII up 45% to Rs 2,539.8 cr

In the previous quarter, it had earned net profit worth Rs 859 crore

NCLT allows Future Retail more time to file reply to insolvency plea

Amazon moves application, says Future Retail and banks are colluding to deny its rights.

No RBI directive that goes against Supreme Court ruling on cryptos

In a circular issued last May, RBI asked banks and other regulated entities to not cite its April 2018 circular that imposed restrictions in dealing with virtual currencies

Coinbase admits RBI's use of informal pressure prompted halting of trade

The comments by Coinbase's Armstrong bring forth the challenges that the crypto industry is facing

Focus is to increase health book faster: ICICI Lombard Gen Insurance CEO

Bhargav Dasgupta spoke about the company's plan in the health, motor and surety bonds business

SBI hikes bulk deposits rates by 40-90 bps, with immediate effect

All deposits more than 3 years to earn 4.5% rate of interest;m Bajaj Finance increases FD rates by 10 bps

LIC IPO subscribed 2.95 times, generates bids worth Rs 43,933 crore

Receives record 7.33 million applications from retail investors

Recoveries by financial creditors under IBC shrink to 33%, shows data

It was 39.3 per cent as of March 2021, and as high as 46 per cent till March 2020, according to the Insolvency and Bankruptcy Board of India (IBBI) data

Life insurers' new business premiums zooms 84% in April, thanks to LIC

In April, the industry earned NBP to the tune of Rs 17,939 crore, compared with Rs 9,739 crore in the year-ago period

Private bank profits rise, thanks to higher NII and low provisions

Witness robust loan growth and higher operating expenses in March quarter

Banks start raising their lending rates for external benchmark loans

ICICI Bank raises its rate to 8.10%; BoB ups repo-linked rate to 6.90%

LIC IPO fully subscribed on day 2 of opening; offer closes on May 9

Sees participation from 3.6 mn individual investors; policyholders lead

Lending rates set to rise; interest rates on deposits may also move up

Consequently, lenders will revise their lending rates upwards, especially on loans, which are linked to an external benchmark

Kotak Mahindra Bank's consolidated net rises 50% to Rs 3,892 cr in Q4FY22

The lender's net interest income increased 18% YoY to Rs 4,521 crore, aided by a loan growth of 21%

Positive start: LIC's mega share sale subscribed 67% on first day

Interestingly, LIC's IPO will remain open for subscription even on the weekend, given the large amount the government is looking to raise from the market

LIC IPO sees 27% subscription in two hours, muted non-institutional demand

The non-institutional category, consisting of corporates, individuals, and others has seen muted demand, with only 5 per cent subscription so far