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Life insurers see new business premium rise 7% in July to Rs 22,986 cr

Private insurers, 23 in all, amassed NBP of Rs 7,815 cr in July, up 26% from Rs 6,197 cr a year ago

Insurers see over 90,000 Covid-related claims worth Rs 1,463 crore

State-wise data shows, Maharashtra, which has recorded the maximum number of cases in the country, has the maximum claims coming in, followed by Tamil Nadu, Delhi, Gujarat, and Karnataka

Monetary policy: RBI lends helping hand to distressed retail borrowers

Under the scheme, a resolution plan for personal loans may be invoked till December 31 and will be implemented within 90 days thereafter

Insurance companies turn net buyers of equities after eight years

Sustained buying by them adds heft to market rally

IndusInd Bank's profit before tax declines 72% to Rs 602.45 crore

The lender's net interest income rose 16.4 per cent year on year to Rs 3,309 crore

Kotak Bank consolidated pre-tax profit down 16.4% to Rs 2,435 cr in Q1

Total provisions and contingencies, including Covid-related provisions, rose to Rs 962 crore in Q1 FY21 compared to Rs 317 crore in the year ago quarter

Aditya Puri sells 7.42 million shares in HDFC Bank for Rs 843 cr

Puri, the longest serving MD of a private bank in India, has been at the helm of HDFC Bank for the last 26 years, since its inception in 1994

Declining long-term market funding for NBFCs a concern, says RBI

It has the potential to heighten the liquidity risks the sector is already facing after the IL&FS debacle, FSR said

Irdai asks Axis Bank, Max Financial to make changes in deal structure

Irdai has asked them to factor in some alternate mechanisms subject to regulatory approvals.

Debt-laden Jet Airways receives resolution plan from two bidders

Jet, which has been under insolvency since June last year, had received 12 expression of interests in the fourth round, after the first three rounds failed to garner any financial bids

ICICI Prudential Life's pre-tax profit rises 8.36% to Rs 311 cr in Q1

The company reported a year on year decline of 32.6 per cent in new business premium to Rs 1,499 crore in Q1FY21 compared to Rs 2,226 crore in the year ago period

HDFC Life Q1 pre-tax profit up 2.87%, new business premium down 33%

Value of new business, a measure of profitability for life insurers, was down 43 per cent to Rs 291 crore in Q1FY21 from Rs 509 crore

Bajaj Finance consolidated Q1 pre-tax profit down 29% on Covid provisioning

Net profit down 19 per cent to Rs 962 crore from Rs 1,195 crore in Q1FY20

Crisis-hit IL&FS lays road map to cut 57% of Rs 99,000 crore debt

By March, Rs 50,500 cr debt to be pared; resolution for Rs 6,650 cr to continue beyond FY21

LIC expects steady growth in life insurance premiums by December quarter

The first quarter of FY21 was a rough one for life insures because NBP contracted 18.64 per cent to Rs 49,335 crore against Rs 60,637 crore in Q1FY20 due the lockdown.

Arbitrator asks BCCI to pay Rs 4,800 crore to Deccan Chronicle Holdings

Apex cricket body given till September to pay up

Access to funds still a challenge for small, mid-sized NBFCs: FIDC

To address the liquidity challenges faced by NBFCs, HFCs and MFIs, the government had announced a special liquidity scheme of Rs 30,000 crore

GI Council wants standard Covid treatment rates for easier claim settlement

Insurers will be guided by referral rates while processing hospitalisation claims. If actual charges exceed referral rates due to various medical exigencies, insurers will consider them while processi

Axis Bank gets approval to raise up to Rs 15,000 cr to tide over Covid-19

In a meeting held on Thursday, the private lenders' board approved the capital raising plan through issue of equity shares/ depository receipts or any other instrument or securities

Digital payments rebound in June after blip in April transactions

Overall transaction values reach pre-Covid levels