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Record 7.7 million IPO mandates created via UPI in July, shows data

The figure for July was almost 4 times higher than that of June, when 1.94 million mandate creation requests were made through UPI

YES Bank eyes own asset reconstruction company, invites EoIs from investors

In April, the RBI formed a 6-member panel headed by Sudarshan Sen, former ED, to carry out a comprehensive review of the working of ARCs in the financial sector ecosystem

Non-life insurers' premium up 19.46% at Rs 20,000 crore in July

In July, non-life insurers - 33 in total - earned premiums to the tune of Rs 20,171.15 crore, against Rs 16,885 crore in the same month last year

Hike in health premiums of products imminent: IFFCO Tokio MD & CEO

Anamika Roy Rashtrawar delves on raging issues in the general insurance sector such as high claims in the health segment and motor insurance returning to a growth path

Starting October 1, RBI to levy penalty on ATMs that run out of cash

Penalty of Rs 10,000 per ATM will be levied in the event of a cash-out situation for more than 10 hours in a month

Life insurers report 11% YoY decline in new business premiums in July

When compared to the pre-pandemic period (July 2019), NBP of the life insurance industry witnessed a drop of 5 per cent

Sa-Dhan moots uniform tool for income assessment of microfinance borrowers

Says it has developed a credit assessment tool for supporting the sector in getting accurate income assessments

RBI's model on India's digital currency could come out by 2021-end

In an interview with Business Standard, RBI governor, Shaktikanta Das, had said that CBDC is something that has implications on monetary and overall savings

Non-life insurance: Q1 Covid-related claims higher than in entire FY21

Reimbursement claims, possibility of a third Covid wave keep non-life insurers on tenterhooks

IDBI Bank expects its gross NPAs to come down to 15% by FY22-end

Growth in loan book and transfer of some bad assets to NARC will fuel the reduction in gross NPAs

Digital payment index for March rises to 270.59, indicating rapid adoption

Digital transactions grew steadily throughout FY21, retail payments like UPI, IMPS and NACH showed resilience and healthy growth

IndusInd Bank clocks 99% rise in consolidated net profit at Rs 1,016 crore

Net interest income was up 8 per cent YoY to Rs 3,564 crore, from Rs 3,309 crore in Q1FY21

Kotak Mahindra Bank Q1 consolidated net profit falls 2.5% to Rs 1,806 cr

The drop is largely on account of Kotak Mahindra Life Insurance posting a net loss of Rs 243 cr on shareholders' account due to higher death claims following the second Covid wave

SBI Life net profit drop 43% YoY in June due to higher Covid provisions

The insurer's claims rose 1.28x by volume from FY21 to Q1FY22. In Q1, it has settled 8,956 covid claims, amounting to Rs 570 crore

NPCI caught between managing UPI growth, curbing dominance of few players

Experts say the dominance of certain players is a factor of the overall preference of consumers as to which app they are using for making different transactions

Federal Bank's Q1 net profit drops 8.35% due to higher provisions

The lender's net interest income grew by 9.4% YoY to Rs 1,418 cr in Q1FY22 compared to Rs 1,296 cr in the year-ago period

SBI Cards Q1 net down 22.5% YoY on higher provisions, lower interest income

Impairment losses and bad debts rose by 33 per cent YoY to Rs 645 crore

NCLAT refuses to stay Piramal Group's resolution plan for DHFL

A two-member ben­ch presiding over the case said, "We do not think that any int­erim order as sou­ght with regard to resolution plan app­roved needs to be passed."

Zomato IPO: 28% of applications through UPI route get rejected

Overall, about half a million rejected on technical grounds

Star Health and Allied Insurance files DRHP for IPO of fresh shares-cum-OFS

Net proceeds from fresh issue amounting to Rs 2,000 cr will be used to boost company's solvency levels and capital