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Life insurers eye double-digit growth as Covid-19 pandemic pain eases

The new business premia (NBP) of the industry have grown at 8.43 per cent in the first 11 months of the current financial year (FY22)

NPCI launches on-device wallet feature for UPI users for small transactions

Initially, UPI Lite will process transactions for NPCI wallet in near offline mode i.e., debit offline and credit online.

Tech-ready: HDFC Bank lines up digital launches in two-three quarters

In the upcoming two/three quarters, the bank is looking to launch a revised version of its payment app, PayZapp

Recouping lost credit card share to be 'gradual', says HDFC Bank

Analysts expect the bank's underperformance to reverse

Reserve Bank of India removes interest cap for microfinance loans

Annual income criteria for loans hiked to Rs 3 lakh

Crude prices risk can be treated as supply shock: RBI deputy governor Patra

Michael Patra adds that while geopolitical fallout is being assessed, it is reasonable to treat it as a supply shock at this stage in setting monetary policy

Hospital regulation, insurance penetration key tasks for new Irdai chief

Debasish Panda, former secretary, Department of Financial Services, to the top position of the Insurance Regulatory and Development Authority of India (Irdai) for three years

Strong recovery seen as bounce rates ease further in Feb; lowest in 32 mths

According to NACH data, the metric improved by 100 bps by value over Jan, to 22.4%. By volume, it stood at 29.2%, an improvement of 40 bps over Jan

Banks, financial institutions rush to raise funds as credit growth picks up

Overall credit growth for the current financial year may remain in single-digit in the current financial year, though there will be improvement as compared to 2020-21.

IndusInd Bank to make additional provisions after Deloitte review of unit

Bharat Financial Inclusion Limited gave out micro loans without consent of customers, apparently due to a technical glitch

HDFC Bank aims to recoup credit card spend market share loss

Since August 2021, HDFC Bank's market share - in terms of spend - is down 170-basis points (bps).

UPI transactions likely to touch Rs 100 trillion soon: Shaktikanta Das

RBI launches UPI for 400 mn feature phone users to widen digital payment reach

Third-party motor insurance premium hike not enough: Industry

In the past, the general insurance industry has seen TP premium increases in double-digits for the blended pool

LIC effect: Life insurers' February new business premium rises 22%

NBP is the premium acquired from new policies for a particular year

NBFCs may see asset quality improve by up to 200 bps going forward: Crisil

RBI postponement of timeline for adhering to new NPA norms, greater economic activity likely to act as tailwinds, says rating agency

MPC hasn't compromised on price stability: RBI governor Shaktikanta Das

RBI governor says accommodative stance based on our domestic growth-inflation dynamics

YES Bank looks to raise up to Rs 10,000 crore equity capital

There were reports that private equity groups such as Carlyle and Advent International are looking at a significant investment in the bank

Sebi asks Indiabulls to address issues where it was found non-compliant

Regulator says it has not found any wrongdoing on company's part with respect to the specific allegations made against it in various PILs and complaints

Reliance Nippon Life's Sunil Agrawal named CFO of LIC ahead of mega IPO

Prior to Agrawal's appointment, Shubhangi Sanjay Soman was executive director, finance and accounting. The position of Executive director F&A has been changed to CFO as LIC gets set to list

We will be looking at surety bonds biz: Bajaj Allianz General Insurance CEO

Overall Covid claims constituted 20 percentage points (ppt) of the claim ratio movement, said Singhel