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Need to watch out for inflation impact: Bajaj Allianz General Insurance CEO

The general insurance industry has reported sound growth in the first quarter (Q1) of financial year 2022-23 (FY23) thanks to group health and motor businesses

New business premiums of life insurance companies jump 91% in July

This is thanks to strong premium growth by LIC

HDFC Bank, IDFC First hike MCLR post repo rate hike by Reserve Bank

Most banks have revised their external benchmark linked loan rates by 50 bps

SBI reports 6.7% dip in standalone net profit at Rs 6,068 cr in Jun qtr

Net interest income of the lender grew 13 per cent YoY to Rs 31,196 crore in Q1FY23

NRIs can now pay utility bills through Bharat Bill Payment System

More than 80 million transactions are processed on the payments platform on a monthly basis

Banks can't rely on RBI money 'perennially' for credit demand: Governor Das

Slow deposit growth may create funding challenging for lenders in the festival season

RBI stays hawkish in fight against inflation; MPC reverses Covid-era cuts

RBI hikes repo rate by 50 bps, keeps FY23 inflation, growth forecasts at 6.7% & 7.2%; home loan rates set to exceed 8%

HDFC Ltd secures $1.1 bn syndicated social loan for affordable housing

This transaction is the largest social loan globally, the first social external commercial borrowing (ECB) loan out of India and the largest ECB loan deal from a HFC or private NBFC in India

Ahead of festive season, lenders have a new worry of sub-9% deposit growth

Credit to industry has also expanded 9.5 per cent during this period

All 12 public sector banks go live on account aggregator network

Around 0.97 million accounts have been linked to the ecosystem so far; around 0.93 million consents have been given during the same period

Irdai proposes limits on expenses of management of life insurers

Insurance regulator releases exposure draft aiming to provide greater flexibility to insurers as far as their corporate agency tie-ups are concerned

RBI's March financial inclusion index shows growth in all segments

The index has risen to 56.4 in March 2022, against 53.9 as of March 2021

June credit card spends remain above Rs 1 trillion-mark, shows data

Notwithstanding MoM decline, spends up fourth month on the trot

Irdai proposes single limit on expenses for non-life insurance firms

According to the exposure draft released by the regulator, non-life insurers cannot spend an amount exceeding 30 per cent of the gross premium written as company expense during a financial year

ICICI Bank, Bank of India, Indiabulls hike rates ahead of MPC meeting

The revised rates for new borrowers range between 7.80 per cent and 8.30 per cent, depending on credit and loan amount

UPI records 6 billion transactions in July, highest ever since 2016

UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5% to 4% for 2022-23. The impact of the reduction on GIC Re will be Rs 2,000 crore

Irdai may offer more flexibility to insurers in corporate agency tie-ups

Insurance regulator's board proposes limit on expenses of management for general insurers

We will grow VNB in line with industry after FY23: ICICI Pru Life MD & CEO

'Beyond FY23, our focus will be on the absolute value of VNB, not so much the margins', said Kannan

HDFC Ltd net profit surges 22% YoY to Rs 3,668 crore in June quarter

It looks to raise $1.1 billion in external commercial borrowing