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LIC's knock-on effect: New business premium of insurers drops 12%

New biz premiums of private insurers jump 35% in March, aided by pick-up in sales of high-value policies

Indian insurers see steep rise in reinsurance rates in April renewals

Primary insurers transfer a portion of their risk portfolios to reinsurers by paying a certain premium to reduce the likelihood of paying a large obligation in the form of a claim

ICICI Lombard Q4 net up 39.6% to Rs 437 cr as underwriting losses dip

For the whole of FY23, the firm earned a net profit of Rs 1,729 cr, up 36% from Rs 1,271 cr in FY22

Top card cos to go live with UPI-linked RuPay credit card feature by June

The feature seeks to include 50 million UPI merchants in the formal credit economy and drive consumption in a big way

Credit card spends touch all-time high of Rs 1.37 trillion in March

For FY23, spending topped Rs 14 trillion, up 47.27% from Rs 9.71 trillion in FY22

Irdai chief urges insurers to increase their capital for faster growth

Says those in JVs with foreign firms must make use of the enhancement in FDI limit from 49% to 74% to get more capital from foreign partners

ICICI Bank to offer EMI facility for UPI transactions above Rs 10,000

Customers can pay transaction amount above Rs 10,000 in the form of instalments in three, six, or nine months

Market share of PSU general insurers shrinks 800 bps in 5 years: Irdai

The latest data shows that at the end of FY23, the market share of these firms cumulatively declined to 32.37 per cent -- a drop of 803 bps

RBI to come out with centralised web portal to search unclaimed deposits

"We expect the portal to be ready in 3-4 months," said M Rajeshwar Rao, deputy governor, RBI

Monetary policy review: UPI payments via pre-sanctioned bank credit soon

This new feature could be seen as a substitute for credit card, which has limited reach, experts say

Interest from central banks for rupee trade: RBI deputy guv T Rabi Sankar

The stakeholders on either side are getting adjusted to it, said RBI Governor Shaktikanta Das

RBI allows UPI linking with pre-sanctioned credit lines from banks

Central bank proposal could strengthen digital lending and buy now pay later businesses, says one expert

No change: MPC presses 'pause' after hiking rate by 250 bps since May 2022

RBI governor makes it clear that if required, MPC could hike rates in future meetings

HDFC Bank garners record Rs 1.5 trillion deposits in a quarter

This is the highest in a three-month period since merger announcement with HDFC Ltd

Non-life insurers may have to reduce payouts to adhere to EoM norms

Unlisted life players may rack up a commission war to gain market share

HDFC Bank's advances rise 17% YoY to Rs 16 trillion; deposits up 21%

The lenders' CASA deposits grew by 11.3% to Rs 8.03 trillion

RBI has a responsibility to promote sustainable economic growth: DG Rao

Says banks have a role to play by making finance available to incentivise sustainable initiatives

UPI processes 8.7 bln transactions in March, highest ever since inception

UPI transactions in March 2023 were over 60 per cent and 46 per cent higher in volume and value terms from the year-ago period, according to NPCI

From insurance policies to MFs, here are the new tax rules from April 1

What changes: Tax on proceeds from high-value insurance policies, higher tax on debt MFs and more

UPI transactions will be free until govt reviews, says NPCI MD & CEO

The NPCI quickly clarified that the circular was only pertaining to PPI-based merchant transactions on UPI and the basic UPI transactions remain completely free