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RBI caps lending limits of NBFCs to bring them on a par with those of banks

Prescribes 9% CET1; Tightens norms for realty sector; loans to board members

9 private banks on account aggregator system, 5 public sector banks in line

Among large private sector lenders, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and IndusInd Bank are live on the AA system

Loans to be costlier as banks hike rates; SBI, Axis revise MCLR upwards

Kotak Mahindra Bank, increased its one-year MCLR by 5 bps to 7.4 per cent, from April 16

New business premiums of life insurance companies jump 37% in March

In FY22, life insurers post 13% growth in new biz premium, compared with 7.5% growth in FY21

HDFC Bank shifts tack to focus on wholesale loans, plans branch expansion

During Q4 of FY22, HDFC Bank added 563 branches while in the entire FY22, it added 734 branches, which is about two branches per day

Health cover premiums shoot up as Covid-19 pandemic threat looms

Premium costs jump 10-15%, driven by large number of claim payouts during pandemic as well as factors such as rising healthcare costs

Godrej Ind to expand interest in financial services via Godrej Capital

Godrej Capital is looking at building a balance sheet of Rs 30,000 cr in the next 4 years

Monetary policy review: Soon, withdraw cash from any ATM using UPI

This is expected to enhance ease of transactions and eliminate frauds at the same time

RBI revises inflation and growth forecasts; holds policy rates

In its first monetary policy announcement of 2022-23, the RBI projected inflation to be at 5.7 per cent this financial year. Real GDP growth for the year estimated at 7.2 per cent

Irdai seeks to remove Rs 100 cr entry cap for new players in insurance biz

Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players

HDFC Bank looking to raise up to Rs 50,000 cr via bonds over 12 months

The lender's board will consider the proposal at a board meeting on April 16

HDFC Bank-HDFC merger: Regulatory changes for NBFCs proved decisive

On Monday, HDFC and HDFC Bank announced their boards had approved an all-stock amalgamation of the former into the latter, subject to regulatory approvals

HDFC Bank writes to RBI, seeks approval to hold 50% stake in HDFC Life

Lender wants either be allowed to hold a 47.82 per cent stake HDFC Ltd in the insurer or buy additional stake in the company from the market

HDFC twins merge in $40-bn deal; amalgamation may take 15 to 18 months

The country's largest housing finance company and the biggest private sector bank announced that their boards have approved an all-stock amalgamation of HDFC Ltd into HDFC Bank

How Axis Bank gains from Citibank: It's about quality of customers

The quality of customers it acquires holds the key to success but the benefits of the buyout could kick in only from FY25

Paid back PMC depositors Rs 3,800 crore: Centrum Group's Jaspal Bindra

This is more than two years after PMC went bust and the Reserve Bank of India (RBI) imposed restrictions on the amount the depositors can withdraw

Citi credit card business losing steam in India, shows data

In a span of almost four years, Citibank has lost 600-basis points (bps) in spends market share.

UPI processes 5 bn transactions in March, gets set for new record

The platform's target is to process a billion transactions a day in the next three to five years.

We want to increase our offline capability, says Policybazaar.com CEO

The demand for term products is always there. The problem is the supply: Policybazaar.com CEO

Digital payments spike, but cash circulation still high, shows data

UPI has been the biggest beneficiary of the digital payments drive.