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Covid-19 impact on claims may force insurers to review prices: Irdai exec

General and standalone health insurers have received 938,640 claims related to Covid-19 till March 15, says Suresh Mathur

India Post, Nabard, 4 PSU banks part of two consortia vying for NUE licence

One group is led by top payment solutions firm Financial Software and Systems, the other by FIS, which provided tech solutions for merchants, banks, and capital markets firms globally

UPI registers 2.29 billion transactions worth Rs 4.25 trillion in Feb

This is up 73% by volume and 90% by value YoY; FASTag touches all-time high by both volume and value

Bank credit to rise 9-10% in FY22 on budget support, RBI measures: Crisil

Despite bank credit contracting by 0.8 per cent in the first half of the current fiscal (H1FY21), the rating agency expects it to rise by 4-5 per cent at the end of the current fiscal (FY21)

RBI extends deadline to apply for Umbrella entity on retail payments

34 consortiums working to file intent for NUE

Standardisation of products not against innovation, says Irdai Chairman

Irdai chairman further said that these standard products will not be frozen in time

Health insurance companies get over 900K Covid-19 claims, settle 84%

Overall, the insurers have settled almost 84 per cent of the claims in terms of the number of claims, and 52 per cent in terms of the amount of claims

Irdai removes curbs on dividend payout as insurers deliver better results

But, it has advised them to take a conscious call while declaring dividends for FY21, keeping in mind their capital position, solvency margin and liquidity position

Irdai launches standard personal accident cover, maximum Rs 1 cr assured

In the case of permanent total disablement, a similar benefit will be paid by the insurance firm

Axis entities get Irdai approval to acquire stake in Max Life Insurance

Axis Entities will have the right to acquire another 7 per cent in the life insurance company, in or more tranches

Price hike in term insurance plans may not impact demand: Experts

Despite the price rise, term plans are relatively cheaper in India than in the US or even Singapore, said experts

MPC minutes: Unwinding high indirect taxes on fuel critical, says Das

Fall in inflation gives MPC room to continue to support growth in economy

Retail health continues to shine as motor and crop insurance slide

Till January, the health insurance segment has grown 14.59 per cent to Rs 48,501 crore

NBFC stress will ease from FY22 with recovery in the economy: Experts

The level of stress in the sector will be less intense as economic activity has been improving gradually

Insurers remain divided over Covid-19's status as 'pre-existing condition'

Anything that increases the risk for insurers will call for either a repricing or refusal

RBI forms expert panel to explore consolidation of urban co-op banks

Committee to be headed by former RBI dy governor, submit report in three months

We are a digitally relevant, contemporary franchise: Federal Bank CEO

I am ready to play the long game, which means that sometimes governance takes premium overshort-term tradeoffs , says CEO Srinivasan

HDFC's adjusted net profit up 27% in Q3

Figure not comparable with Q3FY20, when it booked a fair value gain of over Rs 9,000 crore due to merger of Gruh Finance with Bandhan Bank

UPI Jan volume up 77% to 2.3 bn year-on-year, value doubles to Rs 4.3 trn

Deals up 3% by both, value and volume, over December 2020 figures

Budget 2021: FDI cap hike in insurance may set cash registers ringing

The large insurance companies are well capitalised and backed by very strong Indian partners, mostly banks and large non-banking players