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Max Life to pay Rs 3 cr penalty imposed by Irdai to avoid legal escalations

The regulator indicated that the deal between Max Life and Axis Bank circumvented regulations on commission limits

Loan provisioning in banks: RBI for expected loss-based approach

Bankers say with low NPAs and high provisions, the time is ripe for global standards

Tata Sons, Bajaj Finance among 16 NFBCs put in RBI's upper layer list

HDFC, although qualified to be in the upper layer, has been kept out of the list as it is merging with HDFC Bank

Extending purview: RBI to regulate offline payment aggregators, too

Pinelabs, MSwipe, Ezetap, FSS, Hitachi payments, Worldline, etc. are some offline payment aggregators

System ready for tokenisation, says RBI deputy governor T Rabi Sankar

Roughly 350 million tokens have been created so far, Rabi Sankar said in the post-monetary policy press conference.

Action against M&M Financial Services won't affect other NBFCs: RBI

Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery

RBI to publish paper on expected loss-based approach for loan provisioning

Banks now make loan loss provisions on incurred loss model, wherein provisions are made after defaults

Banks increase interest rates on bulk deposits as liquidity tightens

Loan, deposit growth gap at 10-year high

Industry prepared for potential disruptions as tokenisation nears

industry insiders say, the success rate of token-based transactions is higher, but inadequate testing of certain use-cases may result in some transactions not going through

Irdai mulling longer-tenure general insurance products, forms working group

In certain areas such as home insurance, it is exploring 20-year plans; in some others, tenures of 2, 3 and 5 years are being considered

Thrust on non-par products to yield desired results: LIC chief M R Kumar

We intend to sharpen the focus on bancassurance to steadily and considerably increase its volume, thereby its share in our business, said Kumar

Active credit cards drop 2.3 million in August over new RBI norms

Spends decline 3% MoM but top Rs 1 trn for sixth consecutive month

NBFCs' recovery to be hit after RBI action against M&M Financial Services

Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts

We've moved away from being a founder-run company: BharatPe's Suhail Sameer

In a Q&A, the firm's CEO asserts that the company is now professionally run and is focused on being IPO ready

RBI action has no impact on business, says M&M Financial Services

The RBI action of barring M&M Financial from outsourcing recovery agents comes after the Harazibagh incident where a pregnant woman was mowed down to death

At 16.2%, credit growth in banking system at multi-year high: RBI data

But a widening credit-deposit gap is a concern for lenders

'Can't outsource recovery agents': RBI cracks the whip on M&M Financial

This is probably the first time the regulator has cracked down on lenders on recovery by coercive methods, which is typically a hallmark of outsourced recovery agents

Axis Bank looking at more partnerships with Big Tech: Axis Bank MD

Amitabh Chaudhry says the private lender spends Rs 900 crore every buying priority sector lending certificates to meet its targets

IndusInd Bank and RBL Bank increase MCLR days ahead of MPC meeting

MPC has increased the repo rate by 140 bps cumulatively since May in an effort to rein in inflation

Why are government and regulators uneasy about fintech's rise?

Rise of the fintech sector is posing a two-fold challenge before regulators and the govt: To turn India into a fintech superpower while ensuring consumer safety by firms. Our next report tells more