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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

India not decoupled from world and will face some slowdown: Deepak Parekh

It will be a $7.5 trillion economy within 5 years, says chairman of HDFC Ltd

LIC aims to reach a mix of 75:25 between par and non-par in individual biz

The corporation has launched only non-par products this year, which cater to specific segments in its drive to increase the non-par business

Bank strike deferred by AIBEA after meeting with labour commissioner

The IBA and the bank managements have agreed to resolve the issues that resulted in the calling for a strike bilaterally with AIBEA

FM urges independence of CAs to preserve integrity of financial statements

Says statutory filings and audit reports by CAs are public documents that multiple stakeholders rely on; urges adherence to fair and transparent practices

Keep eye on macroeconomic scene: RBI to banks amid deposit growth concern

Concerned over deposit growth lagging high credit offtake; seeks views on collection, IT infra, DBUs

Share of low-cost deposits falls as FD rates rise, banks' NIM may take hit

With RBI on monetary tightening path, liquidity has shrunk and interest rates have hardened, forcing banks to hike rates on term deposits in order to get funds for credit growth

RBI governor Shaktikanta Das to meet bank chiefs ahead of monetary policy

Like to discuss issues related to growth, interest rates

LIC has edge over private insurers: Gains market share in FY23

Top private insurance firms shed 447 bps as national insurer gets aggressive in group biz

LIC's shares jump nearly 6% after July-September quarter earnings

With a 10 per cent fall in equity markets, the embedded value of LIC declines by 7 per cent

LIC sees multifold increase in Q2 net profit at Rs 15,952 crore

This is due to transfer of funds from non-par to shareholders' account

NPCI likely to extend volume cap deadline for existing UPI apps

PhonePe, and Google Pay likely to be the beneficiaries

Bombay HC: Prima facie removal of Kochhar as ICICI Bank CEO valid

In the order the Judge said that the bank was justified in revoking acceptance of early retirement of Kochhar as they had accepted it without having complete knowledge of the facts

Piramal Enterprises posts net loss of Rs 1,536 cr on higher provisions

PEL has moved Rs 5,888 crore worth of wholesale assets from Stage 1 to Stage 2 as the management believed there could be potential stress from these assets