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Federal Bank's Q1 net jumps 64% to Rs 601 cr in best-ever quarterly show

Stronger bottomline supported by lower provisions and healthy NII

Irdai says no decision on mandatory disclosure of insurance commissions

Irdai said it regulator intends to hold discussions on the matter before a decision

State Bank of India increases MCLR by 10 bps, second hike since June

The six-month MCLR is at 7.45 per cent; one-year MCLR is at 7.50 per cent; two-year MCLR is at 7.70 per cent; and three-year MCLR is at 7.80 per cent

Regulator allows insurance firms 'use & file' procedure for agri products

Companies can introduce a product in the market and then file with the Insurance Regulatory and Development Authority of India (Irdai) for approval

LIC embedded value flat at Rs 5.41 trillion; VNB margin rises to 15.1%

In the past, analysts have said that LIC's balance sheet and, in turn, EV remain very sensitive to equity market movements

Life firms ask regulator to allow risk-based solvency regime for ULIPs

Life insurance companies will raise their solvency margin and free up capital that can be used for other purposes

SBI, ICICI Bank up interest rates on certain foreign currency bank deposits

According to SBI's website, the interest rate on US dollar category deposits with maturities up to 2 and 3 years are up by 85 basis points to 2.85 per cent and 3 per cent

Major PSU banks to go live on account aggregator system by July-end

SBI and BoB are expected to go live by the deadline; PNB and Union Bank of India are already live on the ecosystem

Bank of Maharashtra bucks the trend, cuts MCLR by 20-35 basis points

The state-owned lender cut overnight and one-month MCLR by 25 bps to 6.90 per cent and 7 per cent

RBI clears payment aggregator licence for Razorpay, PineLabs & Stripe

Payment aggregators enable e-commerce sites and merchants to accept payment instruments from customers without the need for merchants to create their own payment integration system

LIC gains 2% market share in new business premium in April-June quarter

NBP, however, is below the FY21 and FY20 levels

Life insurers' new business premiums grow 4.1% in June to Rs 31,254 cr

However, in Q1, the industry posted a 40% YoY growth in new biz premiums

Canara Bank and HDFC Bank hike MCLR, month after RBI raised repo rate

Canara Bank's overnight and one-month MCLR are at 6.75 per cent now and HDFC Bank's website, the private lender's overnight MCLR now stands at 7.70 per cent

Non-life insurance industry reports a 21% YoY growth in premiums in June

In the June quarter, the non-life insurance industry netted premiums to the tune of Rs 54,492 crore, up 23 per cent YoY

How and how often you drive to determine your car insurance premium soon

The concept of 'pay as you drive" stems from the fact that policyholders will be charged premiums based on vehicle usage

IndiaFirst Life Insurance selects bankers for IPO expected later this year

IndiaFirst will be the fourth private sector life insurer to get listed on the bourses

HDFC twins' merger: RBI awaits more data to decide on dispensation request

At present, HDFC, being a non-banking financial company, does not have to comply with the CRR, SLR and priority sector obligations like banks

Credit-deposit growth gap widens to a three-year high of nearly 5%

Development fuels concern that slow deposit growth could emerge as one of the biggest constraints for loan growth in the system

PPI credit ban likely to hit 8-10 million BNPL users, says industry

Industry fears it may lead to systemic risk from a lending standpoint

RBI's credit line norms: Card-based fintech players may have to stop offers

Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc