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Amid Covid scare, life insurers go slow on renewing group-term plans

The adverse claims experience of life insurers have made them apprehensive of renewing group-term policies of some corporate entities

High demand for comprehensive health policies as Covid cases soar again

Covid plans were in huge demand last year but have since petered out

LIC paid Rs 1.34 trn as claims to policyholders in FY21, marking growth

State-owned insurer said it procured 2.1 crore policies in FY21, out of which 46.72 lakh were in March

Life insurers see over 70% year-on-year growth in NBS in March

In FY21, life insurance companies saw a 7.5% increase in NBP over FY20

Troubled by outages, HDFC Bank to use cutting-edge tech across businesses

In the letter to staff, CEO Sashi Jagdishan lists initiatives such as infra scalability, strengthening monitoring its Data Centre, and improving firewalls

Future Retail lenders okay debt recast plan with repayment up to two years

Interest accrued between March 1, 2020, and September 30, 2020, will be converted into Funded Interest Term Loan, payable by December 2021

HDFC Bank's net profit rises 18% to Rs 8,186 cr in Q4, misses estimates

The net interest income of the lender rose 12.6% in Q4FY21 to Rs 17,120 cr

Govt's draft proposals tie insurance FDI hike to solvency margin

Draft proposes 180% if firms with over 49% foreign stake declare dividend

India footprint of foreign lenders: How do income & expenditure stack up

While interest earnings are the mainstay, the banks are also active in derivatives and treasury operations

Over 100,000 LIC employees to get 16% wage hike

The government has given a go-ahead to a five-day working week for LIC employees

IL&FS board revises debt recovery target upwards to Rs 61,000 crore

The board has already addressed debt of Rs 43,100 cr so far and is looking to address about Rs 8,000 cr in the next six months

Fewer defaults on EMI payments by consumers in March, shows NACH data

According to the data released by the National Payments Corporation of India, 32.76 per cent of all auto-debit transactions in volume terms failed in March compared to 36.6 per cent in February

Spectrum can be transferred but not without settling dues, says NCLAT

Since the questions posed by the apex court has been dealt with by the tribunal now, the appeals by the DoT will be heard by the NCLAT on April 26

Non-life insurers' premiums up 5% in FY21 on huge contraction in motor biz

In March, premiums of non-life insurers went up by 23%

LIC employees' wage hike proposal yet to get government approval

"It is under process and with the ministry. Whenever it happens, we will share with the employees," said a source in LIC

Be watchful of Covid situation, push credit flows: Shaktikanta Das to banks

Takes stock of the progress in implementing Covid resolution framework

Monetary policy: Soon, you can withdraw cash from digital wallets

The rationale behind this move is to level the playing field between banks and non-banks PPI issuers

Bank asset quality may suffer as impact of relief measures dwindles: Icra

Rating agency has estimated that gross NPAs (excluding write-offs) will rise to 9.6-9.7% by March 31, 2021 and 9.9-10.2% by March 31, 2022 from 8.6% as of March 31, 2020

HDFC Bank's advances grow 14% YoY in Q4; sequentially up 4.6%

India's largest private sector lender said in a regulatory filing its domestic retail loans in Q4FY21 grew by 7.5% YoY

UPI transaction value touches new high at Rs 5 trn in March, volume up too

Launched in 2016, UPI crossed 1 billion transactions for the first time in October 2019.