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RBI to crack whip on recovery agents, calls for restricting messaging apps

Digital lending apps extend small amounts at exorbitant rates. Payment delays invite messages to customer or close family members, often with sensitive information such as Aadhaar and PAN Card scans

Irdai working group proposes 'traffic violation premium' in motor insurance

It will float over own damage and third party sections and can be attached to any section of motor insurance cover bought

Raise tax deduction limit under Section 80D in Budget: Non-life insurers

Under Section 80D, one can get tax deduction of up to Rs 25,000 for health insurance premiums for individuals below 60 years

PhonePe beats Google Pay, tops UPI app space in December: NPCI data

Google Pay had seen 960-mn transactions amounting to Rs 1.6 trn in November

Open to opportunities of paring stake in IDBI Bank: LIC's Vipin Anand

An increase in economic activity since the unlock process started in June has resulted in an uptick in the business performance of LIC, says LIC MD Vipin Anand

Firms rush for vaccine liability cover as India kicks off vaccination drive

Insurers, too, have sought support for such coverage from India's largest reinsurer GIC Re. ICICI Lombard & New India Assurance have got support of $5 mn against risks

HDFC Bank's Q3 net profit surges 18% on growth in net interest income

Provisions and contingencies of the lender increased 12 per cent year on year

Non-life insurers see around 12% growth in December premiums, shows data

In the April-December period of FY21, the general insurers' premium totalled Rs 1.25 trillion, up 1.14 per cent over last year

RBI constitutes working group to develop and regulate digital lending

The six-member panel comprising four RBI internal members and two external members is expected to submit its report within three months

Payment, e-commerce apps most sought when buying online insurance: Swiss Re

However, traditional channels of distribution such as agents, brokers, and insurance aggregators remain primary channels for insurance-related information searches in India

Growth in health insurance segment slows as fear of Covid-19 subsides

Within health insurance, it was the retail segment that recorded impressive growth

Asset quality of NBFCs may deteriorate further: Financial stability report

While credit extended by them has fallen substantially, the sector has seen an increase in bad loans ratio, too

Irdai wants fuel pumps and cooking gas agencies to sell insurance

The regulator also wants all life insurance companies to have a 13th month persistency of 90 per cent and 61st month persistency of not below 65 per cent

Life insurers see 2.7% contraction in December premium collection

Top private insurers such as HDFC Life, ICICI Life, and Max Life Insurance registered double-digit growth in December

NCLT issues notice to DGCA, MoCA to clear stance on Jet Airways' slots

Jet was grounded on April 17 due to liquidity crisis and subsequently went into administration in June 2019

Gap between PMJDY scheme beneficiaries and RuPay cards issued widens

RuPay, operated by the National Payments Corpo­ra­tion of India (NPCI), is India's homegrown card network

Demand for retail loans expected to continue upward journey: Experts

Large non-banking financial companies (NBFCs) and a few private banks - that have disclosed December quarter trends of advances - are showing signs of improved credit demand

Card networks to make recurring payments to PIDF, support initial corpus

RBI's payment infrastructure development fund to be valid for three years, effective January 1, can be extended by two more years

Irdai set to introduce standard products for fire, allied peril risks

General insurers that offer fire and allied perils policies have to mandatorily introduce the same from April 1, 2021, replacing the Standard Fire and Special Perils (SFSP) policy

Insurance regulator keeps obligatory cession at 5% to GIC Re in FY21

The entire obligatory cession has to be reinsured with India's largest reinsurer, General Insurance Corporation of India (GIC Re)