Page 18 - Finance Sector

No plan to bring clawback clause, says LIC MD & CEO Siddhartha Mohanty

LIC launched 32 products on October 1, 2024, as per the revised norms, and currently, the corporation has 35 products

Non-disclosure of foreign property invites Rs 10 lakh penalty per year

Rental income from a foreign property is taxed under the head "Income from House Property". This income must be declared in the Foreign Source Income schedule of the ITR

BS BFSI Summit: 'Investors flock to GIFT City as opportunities open up'

List of banks, asset managers, insurers swells amid growing business opportunities

BS BFSI Summit: Insurers hope amendment Bill will drive customer engagement

The industry leaders were discussing the future of the sector at Business Standard's BFSI Summit 2024 on Friday

BFSI Summit: Fear in people main factor behind cyberfraud, says SBI's Chugh

In cybersecurity, social engineering refers to manipulating a victim to gain control over a computer system or steal personal and financial information

Multi-asset funds: Align fund's equity strategy with your risk appetite

Investors often latch on to an asset class after it has moved up considerably. Even if they are not reactive in their portfolio allocation, it is not an easy strategy to implement

Irdai proposes changes to IAC meeting frequency, notice period, structure

The IAC comprises members representing various sectors, including commerce, industry, agriculture, and consumers, along with the chairperson and members of Irdai as ex officio members

BFSI Summit: Brainstorming by top minds of financial world to start today

Three-day event to explore India's potential and pathways to achieve it

Incremental CD ratio moderates to 77.7%, lowest in nearly 30 months

Meanwhile, the outstanding CD ratio has moderated to 79 per cent from 80.3 per cent in March 2024

Kotak Alternate Asset Managers to raise Rs 1,600 cr via healthcare PE fund

The value of India's hospital industry is expected to reach 18.35 trillion rupees by 2027 and is growing at a pace of around 18.24%, according to government data

Canara Bank led consortium seeks bids to sell Rs 1,226 cr loans in MMOPL

Mumbai Metro One is a SPV that is jointly owned by Reliance Infrastructure and MMRDA

Banking lending to industry up 42.8% in H1FY25; credit to NBFC shrinks

RBI data showed that, in absolute terms, banks lent Rs 1.5 trillion in H1FY25, up from Rs 1.05 trillion in the first half of the previous financial year (H1FY24)

The bottom line: Private lenders stumble sequentially in Q2, PSBs shine

Slippages in unsecured retail portfolios take a toll on private banks; elevated credit costs hurt, too

Yes Bank looking to sell Rs 635 cr of non-performing unsecured loans

JC Flowers seeks counter bids to sell Rs 1,290 cr of erstwhile Yes Bank loans

Pension for gig workers; choosing an EV: Top personal finance stories

This week we write about how white-collar freelance professionals can build a retirement corpus and what to look for in an electric car

Diwali bonus: Splurge, but also repay costly debt, replenish emergency fund

Those without high-cost debt can invest the money to achieve financial goals

DCB Bank Q2FY25 results: Net up 23% on uptick in non-interest income

Advances grew by 19.29 per cent Y-o-Y to Rs 44,465 crore in Q2FY25

Sebi bars First Overseas Capital to be lead manager for fresh mandates

Sebi on Wednesday barred First Overseas Capital from taking any new mandate as a lead manager for any public issue of debt securities until further orders for allegedly violating merchant bankers rules. The regulator also issued a show cause notice to First Overseas Capital for alleged violations of the provision of Merchant Bankers (MB) regulations. "I, hereby debar the noticee (FOCL) from taking any new mandate in relation to the business of issue management either by making arrangements regarding selling, buying or subscribing to securities or acting as manager, consultant, adviser or rendering corporate advisory service in relation to such issue management, until further order," Sebi's whole time member Ashwani Bhatia said in the order. In its 33-page interim order cum show cause notice, Sebi said FOCL acted as a registered merchant banker without meeting the capital adequacy requirement (net worth of Rs 5 crore), as mandated under the provisions of the MB norms. Further, the .

IndiaP2P launches new product to align with RBI's revised guidelines

P2P platforms enable lenders to earn interest income, though with the risk of delay or default by borrowers

RBI expands alert list, names 13 unauthorised forex trading platforms

Ranger Capital, TDFX, Inefex among entities barred from trading after violating regulations