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More risk in our book helps us become more agile: MD, Bajaj Allianz Life

In a Q&A, Tarun Chugh dwells on how his firm became the fastest growing in its space, recent Irdai initiatives, and the company's future plans

GSTN in AA network: Operational costs of banks expected to come down

GSTN is expected to go live on AA network in late January or early February, people aware of the development say

ICICI Bank adopting a 360-degree approach in corporate banking business

Analysts see risk of attrition due to the shift in culture its implementation

Saw many threats from crypto; CBDC was the way forward: RBI DG Sankar

Implementing NPCI volume-cap right now may have caused friction in UPI

Core activities of a bank should not be outsourced, says RBI's AK Choudhary

"While outsourcing it is very important that adequate safeguards are established to seal the situation as well as the financial stability of the banking system," Choudhary added

Tepid demand for cyber insurance policies despite steep rise in attacks

Experts see signs of change because of heightened awareness and increase in enquiries

UPI volume cap deadline extended by 2 yrs in relief for PhonePe, Google Pay

Players wanted five-year extension on the market cap deadline

HDFC Bank revises credit card rewards points programme for customers

The bank said for select products and vouchers, redemption of reward points will be capped at 70 per cent of the total value, but this is not applicable for Infina and Diners Black cards

Govt proposes issuance of one licence for all insurance businesses

Suggests allowing insurers to sell other financial products

Sundaram Finance looks to grow AUM beyond Rs 50,000 crore in 3 years

The Chennai-based non-banking finance company is looking to scale up SME lending share to 8-10 per cent share from present two per cent over the medium term

Fintech lenders align business model with RBI's digital lending norms

The RBI came out with the guidelines on digital lending in September and gave time until November 30 for players to comply with the 'existing loan' category

Irdai endorses panel's view to cut obligatory cession to zero from 4%

The obligatory cession was reduced from 5 per cent to 4 per cent in FY23. The regulator has been reducing the obligatory cession over time

Festivals boost credit card spends to record high of Rs 1.29 trillion

On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base

Irdai approves amendments, simplifies rules to set up insurance firms

Under the current guidelines, to invest in insurance companies as "promoter", a PE fund can do so only through an SPV

HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh

According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management

Removal of cap: Insurers to get flexibility to allocate commissions

According to Irdai, the revised draft regulations on commissions emphasise on the board's oversight through a board-approved policy on the payment of commission

Irdai draft norms do away with specific caps on commissions to agents

Proposes that commissions to agents can't exceed management expense limit

Paytm stock crashes 11% to end at all-time low of Rs 477 a share

Macquarie report says the fintech firm could face headwinds with the entry of Jio Financial Services, which may focus on consumer and merchant lending, the mainstay of Paytm's business

Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman

According to the memorandum, if NBFCs are to be regulated like banks, then the typical NBFC model of lending will suffer which will have an impact lending to the unbanked/ underbanked segment

Jio Financial Services could become fifth largest fin service entity: Study

Reliance firm can disrupt payments business and become a threat to other fintech models, say analysts