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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.

Auto-debit payments: RBI extends timeline for implementation of new rules

The new norms were supposed to kick in from April 1 but neither banks nor the other stakeholders in the ecosystem had readied their system

Six consortiums in the fray to bag NUE licence for retail payments

Last month, RBI extended the deadline to apply for licence at the behest of IBA

Leading private banks to cancel auto-debit payments from April 1

RBI to fine Rs 5 lakh per instance of lapse. Given that millions of bank customers use the auto-debit facility, banks were staring at hundreds of crores in fines

Govt not interested in footing Rs 8,000-cr moratorium bill for banks

Govt is of the view that the onus of reimbursing compound interest charged to customers does not fall on entirely on itself, said a top govt official

Trai meets bankers to iron out issues over new pesky SMS regulations

Some banks are fine-tuning systems, so that there is standardised mechanism of sending SMSes

HDFC Bank customers face difficulty in accessing net, mobile banking

Vent frustration on social media; bank has faced similar issues in the past

Payments Corporation comes out with SOP to monitor volume cap for TPAPs

The NPCI will monitor the volume cap of the TPAPs and sound an alert to them once it reaches the thresholds that it has decided

Second Covid-19 wave may last 100 days, peak in April-end: SBI report

Says lockdowns not an answer as business activity index declines

Loan moratorium: SC ruling clears overhang for banks, sets path for action

Liability seen at Rs 8,000 cr if govt does not foot the bill; more transparency expected, loan recoveries to start

Motor insurance premiums remain in contraction till February, shows data

While group health has seen 9 per cent growth, government schemes and overseas medical segments contracted

RBI sets up external advisory committee for evaluating banking applications

The committee set up by the RBI has five members with Shyamala Gopinathan, former deputy governor, RBI as the chairperson

RuPay set to expand credit card business in India, take it to masses

Introduced 9 yrs ago, the indigenous card payment network has cornered a sizeable market share, thanks to govt push

Deposit maturity claim documents at nearest office anywhere, says LIC

But it will be valid till the end of the month