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HDFC Bank to issue 300,000 credit cards a month to regain lost market share

Will raise issuance to 500,000 credit cards per month beginning February 2022

Customers in limbo as banks, payments firms, RBI seek to settle 2 issues

Regulating how payment facilitators store customers' card details and auto-renewal of payments puts industry at crossroads.

Ujjivan Small Finance Bank's board to meet on August 25 to select OSD

The OSD would work as the interim chief executive after Chugh leaves and till a full time MD&CEO is appointed

Growth in currency in circulation halves to 10% post-second wave

It is too early to say if people have overcome their fears leading to cash hoarding, but the trend, if it sustains, is encouraging

ICICI Bank gained more than 1.3 million credit cards since December

ICICI Bank was been the biggest gainer in the December-June period

Don't see term product prices rising: HDFC Life MD & CEO Vibha Padalkar

Vibha Padalkar talks about the adequacy of reserves the company set aside for future claims and the impact of higher claims on term prices, among others

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