Page 12 - Finance News

Banking pads up to cover a new ground with risk-based deposit insurance

Shifting to a system of risk-based deposit insurance may over time force banks to become even more prudent and mindful of their finances

Bureau credit scores should not be the sole filter: IDfy's Ashok Hariharan

Ashok Hariharan, founder of IDfy, interacted with Raghu Mohan via email on issues in retail onboarding and underwriting

Bank of India Q2FY26 results: Net profit up 7.62% on dip in credit costs

The Mumbai-based lender's shares ended 1.67 per cent lower, closing at Rs 123.30 per share on the BSE

Private life insurers see early demand surge after nil GST rollout

Private life insurers report strong post-GST growth as customers respond positively to the nil GST regime; term insurance demand surges 2.5x, say ICICI Prudential, HDFC Life

Allianz appoints Ritu Arora as country head for India effective immediately

In her role as Asia CIO, she managed investment functions across 12 countries with assets under management totalling about $50 billion, significantly boosting investments in Indian public markets

Value funds help balance growth portfolios; invest with 5-year view

Those unable to withstand periods of underperformance may avoid these funds

RBL Bank to explore equity fund raise during October 18 board meet

Board may approve equity shares, linked instruments via preferential issue or private placement

Axis Finance to become upper-layer NBFC; listing likely within 3 years

Axis Bank CEO Amitabh Chaudhry says the NBFC arm's size qualifies it for upper-layer classification; stake sale planned to raise growth capital amid RBI's revised norms

Govt working on mechanism to allow refund of ITC on capital goods

An inverted duty structure arises when the tax rate on inputs is higher than that on finished goods, leading to accumulation of unutilised ITC

EPF settlement to take 12 months, pension withdrawal extended to 36 months

Workers changing jobs will now have to wait up to a year before they can withdraw their provident fund fully

We continue to invest heavily in India GPS business, says Winnie Chen

Winnie Chen says real-time domestic payments are shaping expectations for faster, seamless cross-border transfers and stablecoin adoption

RBI consolidates regulatory norms into 238 master circulars, repeals 9,000

The central bank streamlines regulatory framework across 11 entity types and 30 thematic areas to simplify compliance and improve clarity for the financial sector

Bank unions slam move to open top PSB roles to private candidates

UFBU calls the move to allow private candidates for top roles in state-run banks and insurers a de-facto privatisation of leadership in public institutions

Life insurers' new business premium rises 14.8% in September 2025

Robust group segment performance led by LIC and private players drives 14.8 per cent year-on-year growth in new business premium for life insurers

Rethink insurance delivery to reach rural India: Irdai's Deepak Sood

Deepak Sood says India's digital infrastructure enables universal insurance, but the industry must reinvent distribution models to reach all socio-economic groups

PNB to allocate 20% of FY26 spend to boost IT, digital infra: CEO Chandra

PNB MD & CEO Ashok Chandra says the bank is investing heavily in technology upgrades, digital safety systems, and customer experience modernisation this fiscal

Domestic savings challenge may constrain banks' private sector funding: S&P

Banks are likely to rely more on wholesale domestic and international debt for funding as deposits come under pressure, the rating agency said in a statement

NBFCs, capital markets lead consents in account aggregator system

NBFCs, RIAs, and stockbrokers dominate India's expanding account aggregator ecosystem, serving over 24 million users in FY25

Bank of India's domestic advances rise nearly 15% to ₹5.96 trillion

Bank of India reports 11.8% growth in global business and strong gains in domestic lending, with retail term deposits up 14% year-on-year in September

Microfinance sector faces funding crunch, default fears amid scrutiny

The microfinance industry is in a bind as funding declines and fears of defaults swirl amid stricter regulatory scrutiny