OTR of credit facilities availed by Asian Hotels (North) gets approval

BoM-led consortium of banks has collectively sanctioned ₹717.61 crore, as per the hotel’s regulatory filing from Business Line - Money & Banking https://ift.tt/3hUvz...

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Defying Covid wave, disbursal of Mudra loans grows in Q1

Loans worth over ₹37,600 crore have been disbursed from Business Line - Money & Banking https://ift.tt/3e2n4...

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Equitas resumes works on merger of promoter company into small finance bank

"RBI vide its communication dated July 09, 2021 has permitted the bank to apply to RBI, seeking approval for scheme of amalgamation," Equitas said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3ARvH...

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Federal Bank shareholders approve re-appointment of Shyam Srinivasan as MD & CEO

The decision was taken in the 90th Annual General Meeting of shareholders of Federal Bank which was conducted through video conferencing on Friday. from Banking/Finance-Industry-Economic Times https://ift.tt/3hU77...

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Transaction Advisors for IDBI Bank Stake Sale can Submit Bids till July 22

The department Friday clarified that government and LIC of India intend to sell their full stakes, with an open offer also possible as per Sebi guidelines, but the quantum of stake will be decided before the request for proposal stage. "In the instant transaction there will be divestment of GoI and LIC shareholding in IDBI Bank along with transfer of management control. The open offer can be triggered as per Sebi's regulations in this regard," the department said. from Banking/Finance-Industry-Economic Times https://ift.tt/3yBQA...

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Federal Bank gets RBI nod to re-appoint Shyam Srinivasan as MD & CEO for 3 yrs

"We wish to inform you that the approval from Reserve Bank of India has been received on July 9, 2021 for the re-appointment of Shyam Srinivasan as the MD & CEO of the bank for a period of three years with effect from September 23, 2021 till September 22, 2024," Federal Bank said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/2Vir2...

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Bank employees posted in sensitive positions to get surprise leave every year

The Reserve Bank of India has directed banks to adopt a ‘mandatory leave’ policy for such employees. from Banking/Finance-Industry-Economic Times https://ift.tt/3wrTi...

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Cholamandalam Investment makes an entry into EV financing business

NBFC is working on long-term growth areas: Chairman from Business Line - Money & Banking https://ift.tt/3hWGG...

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RBI gives 3-year extension to Federal Bank CEO

Srinivasan assures shareholders of steady and consistent performance by the bank from Business Line - Money & Banking https://ift.tt/2TLrS...

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10-year G-Sec auction: RBI accepts bids at a higher cut-off yield of 6.10 per cent

Govt’s cost of borrowing likely to go up in FY22 from Business Line - Money & Banking https://ift.tt/3k0Yj...

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Bankers working in sensitive positions to get surprise leaves of at least 10 days

In a communication to lenders, including rural development banks and cooperative banks, the RBI asked them to put in place a 'mandatory leave' policy as part of the prudent risk management measure. from Banking/Finance-Industry-Economic Times https://ift.tt/3qWzW...

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Employees in sensitive positions should go on ‘mandatory’ leave: RBI tells banks

‘No prior intimation’ in the instructions aimed at maintaining an element of surprise from Business Line - Money & Banking https://ift.tt/3keWI...

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Non-life insurers' gross direct premium up 7 pc at Rs 14,809 cr in June

Of these, the 25 general insurance companies registered 4.9 per cent rise in gross direct premium during the month at Rs 13,041.51 crore as against Rs 12,435.71 crore in the year-ago period. from Banking/Finance-Industry-Economic Times https://ift.tt/2TLPL...

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Life insurers report 4% rise in new year premium in June at Rs 30,009 cr

There are total 24 life insurance companies in the country. Of these, the country's largest and the only state-owned insurer Life Insurance Corporation of India (LIC) reported 4.14 per cent fall in new premium income in June 2021 at Rs 21,796.28 crore as against Rs 22,736.84 crore in the year-ago month. from Banking/Finance-Industry-Economic Times https://ift.tt/3hY5v...

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Securitisation volumes for NBFCs, HFCs surged to Rs 17,500 crore in Q1 FY22: Icra

There was gradual ease in lockdowns in June across most geographies and gradual improvement in collection efficiencies of NBFCs. Another factor that supported the volumes was that unlike Q1 FY2021, when the microfinance sector was almost absent from the securitisation market, the segment has been able to restrict the decline in collections. from Banking/Finance-Industry-Economic Times https://ift.tt/3ej9C...

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Tata AIG hopeful to cross ₹10,000 crore premium mark in FY 22

Now present in about 750 to 800 locations across the country from Business Line - Money & Banking https://ift.tt/2TJCG...

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GIFT-IFSC can be the hub for ‘internationalisation of Rupee’: IFSCA Chairman

Srinivas sees doors opening up for non-deliverable forwards in rupee from Business Line - Money & Banking https://ift.tt/3jZke...

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Inclusion of retail and wholesale trade in MSMEs to help UCBs achieve higher PSL target

RBI had revised upwards the PSL target for UCBs in March 2020, from the then prevailing 40 per cent of net credit target from Business Line - Money & Banking https://ift.tt/3hqZw...

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India-UK engage during first financial markets dialogue

Both sides agreed to continue to engage bilaterally on these areas in the coming months, in the run up to the next EFD and the beginning of negotiations for a future India-UK FTA, both expected to take place later this year, the ministry said. from Banking/Finance-Industry-Economic Times https://ift.tt/3hroN...

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India invites UK companies to invest in insurance sector

To deepen bilateral ties in the financial sector, the first meeting of India-UK Financial Markets Dialogue was held on Thursday late evening, a finance ministry statement said, from Banking/Finance-Industry-Economic Times https://ift.tt/3ACDN...

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RBI advises banks to shift away from LIBOR to alternative reference rates

Directive has been issued to ensure orderly, safe and sound LIBOR transition and considering customer protection, reputational and litigation risks involved, the RBI said from Business Line - Money & Banking https://ift.tt/3yFtf...

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Average ticket size of AePS transactions rising: Rapipay Fintech

Rapipay reported an 18 per cent increase in AePS transactions in June this year compared to May from Business Line - Money & Banking https://ift.tt/3yEIk...

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India’s risk-averse lenders are emerging as one of the biggest hurdles to its recovery

Loans to companies and individuals has been growing at a subdued 5.5%-6% in recent months, which is half the pace seen before the pandemic struck, Reserve Bank of India data shows. from Banking/Finance-Industry-Economic Times https://ift.tt/36nEl...

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Lower growth, loan slippages likely to cloud banks’ June quarter

Adequate provisions, capital buffers, diversified assets and low-cost liabilities should cushion large private banks. With exposure to more vulnerable segments, mid-sized banks, small finance banks and NBFC MFI are seen reporting a relatively weaker performance, ICICI Securities said in a note. “However, given muted credit growth, absence of substantial treasury and revival in opex should keep operational performance moderate. Profitability is expected to witness a healthy surge led by lower provisions.” from Banking/Finance-Industry-Economic...

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DBS Bank India grows profitability despite LVB merger impact

Its profit before tax (PBT) rose to Rs 679 crore from Rs 170 crore, despite absorbing LVB’s pre-tax losses of Rs 341 crore from November 2020 to March 2021. from Banking & Finance – The Financial Express https://ift.tt/3ehkO...

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Private equity inflows jump 118% in H1 to $11.82 billion

Fund inflows jumped over 77 per cent in the second quarter of 2021 to USD 7.55 billion compared to USD 4.26 billion in the first quarter, according to the data collated by Refinitiv, the London Stock Exchange Group's financial markets data and insights arm. from Banking/Finance-Industry-Economic Times https://ift.tt/36nJq...

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RBI warns banks of LIBOR preparedness

“Banks and financial institutions are encouraged to cease entering into new financial contracts that reference LIBOR as a benchmark,” RBI said in a release Thursday. …and instead use any widely accepted alternative reference rate (ARR), as soon as practicable and in any case by December 31, 2021.” from Banking/Finance-Industry-Economic Times https://ift.tt/36pRF...

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‘Inflation spike seems transitory’

RBI Governor’s remarks help G-Sec rally from Business Line - Money & Banking https://ift.tt/36BKl...

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Insurtech InsuranceDekho eyes $40-50 million capital raise in Series A round

To partner 50,000 micro-entrepreneurs under its ‘Saathi’ initiative, says Co-founder Agrawal from Business Line - Money & Banking https://ift.tt/3k0sQ...

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HDFC Bank's CSR spends grow 18 per cent to Rs 635 crore in FY21

Entities above a certain threshold are mandated to spend at least 2 per cent of the average net profits of the immediately preceding three years on CSR activities. from Banking/Finance-Industry-Economic Times https://ift.tt/2TFwu...

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STFC gets Rs 312.50 crore capital infusion from promoter Shriram Capital

As per authorisation by the securities issuance committee of the board of director of STFC, the company cleared the proposal to allot 17,36,100 equity shares at Rs 1,440 per share to Shriram Capital, as well as the same amount of warrants convertible into these many equity shares at Rs 1,440 per warrant. from Banking/Finance-Industry-Economic Times https://ift.tt/3wuUj...

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Caspian Debt opens office in Delhi

Caspian Debt, a provider of debt funding to startups and social enterprises, has opened its regional office in Delhi/NCR.“There has been a significan from Business Line - Money & Banking https://ift.tt/3yzkh...

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LIC to have Chief Executive Officer, Managing Director; government does away with Chairman post

Companies that have a market capitalisation of more than Rs 1 lakh crore at the time of listing can now sell just five per cent of their shares, with the latest amendment in rules, a move that will be beneficial for the government during the LIC initial public offer. from Banking/Finance-Industry-Economic Times https://ift.tt/3hK62...

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Q1FY22 results: Banks likely to report muted earnings, some stress in asset quality

Recovery likely to be faster from Business Line - Money & Banking https://ift.tt/3wwq6...

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RBI imposes monetary penalty on 14 banks for non-compliance

The central bank imposed ₹2 crore penalty on Bank of Baroda, ₹1 crore each on 12 other banks and ₹50 lakh on State Bank of India from Business Line - Money & Banking https://ift.tt/36jf1...

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Deutsche Bank AG’s net profit in India rises 48% in FY21

Net revenue grows 23 per cent to ₹5,537 crore from Business Line - Money & Banking https://ift.tt/3dUDq...

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DealShare raises $144 million in Series D led by Tiger Global

Transaction marks the third funding for the company in a span of seven months, with valuation increasing nine-fold to $455 million within two-and-a-half years from Business Line - Money & Banking https://ift.tt/3xrN7...

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DBS Bank India FY’21 net profit surges to ₹312 crore

Integration of operating platforms and branches of LVB underway, gold loan business revived from Business Line - Money & Banking https://ift.tt/2Vf37...

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RBI penalises SBI, 13 other banks for non-adherence to NBFC lending rules

The Reserve Bank of India (RBI) has penalised 14 banks including State Bank of India, IndusInd Bank, Bandhan Bank and Bank of Baroda for non-compliance of various lending norms. from Banking & Finance – The Financial Express https://ift.tt/2TF1d...

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RBI imposes ₹1 crore penalty on Karnataka Bank

Penalty for contravention of RBI directions while sanctioning credit facilities to IL&FS and its group companies from Business Line - Money & Banking https://ift.tt/2SV4W...

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Punjab National Bank, Home Finance arm at odds over Sebi order regarding Carlyle deal

The board of PNB Housing on May 31 approved placement of 82 million preferential equity shares and 20.5 million share warrants with Pluto Investments, a Carlyle Group company, and Salisbury Investments, the family investment vehicle of former HDFC Bank MD Aditya Puri. General Atlantic Singapore Fund FII Pte Ltd and Alpha Investments V Pte Ltd are the other proposed investors. from Banking/Finance-Industry-Economic Times https://ift.tt/3hPp8...

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Equitas SFB’s collection efficiency improves to 83.49% in June

The bank's gross advances grew 15% YoY in the quarter ended June to Rs 17,839 crore from Rs 15,573 crore in the corresponding quarter last fiscal year. Sequentially, the bank's gross advances have remained flat compared to Rs 17,925 crore in Q4FY21. from Banking & Finance – The Financial Express https://ift.tt/3hnuD...

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PCHFL to raise up to ₹1,000 cr through NCD

Issue opens on July 12; funds will be used for retail disbursement from Business Line - Money & Banking https://ift.tt/3AFu1...

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RBI penalises 14 banks for non-adherence to rules on lending to NBFCs

While Bank of Baroda was levied a penalty of Rs 2 crore, IndusInd Bank, Bandhan Bank, Credit Suisse AG, Central Bank of India, Bank of Maharashtra, Indian Bank, Utkarsh Small Finance Bank were asked to cough up Rs 1 crore as fine. A penalty of Rs 50 lakh was imposed on State Bank of India. from Banking/Finance-Industry-Economic Times https://ift.tt/3wnFk...

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Max Bupa Health Insurance and Axis Bank enter into a Bancassurance partnership

Tie-up will enable Axis Bank customers to access health insurance products offered by Max Bupa from Business Line - Money & Banking https://ift.tt/3xq8e...

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Payment operators to share intel on fraudsters and blacklist scammers

“The industry under Payments Council of India is coming together for data sharing and we are creating a negative database for both merchants and customers to tackle errant participants in the segment,” an official in the know said. from Banking/Finance-Industry-Economic Times https://ift.tt/3hIfD...

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Indian banks improved performance due to delay in stress recognition: Fitch

The asset quality of banks surprised positively with decline in reported gross non-performing loan ratio at 7.6% and net NPA ratio at 2.5% at the end of March 2021. This was against 8.60% and 3.0% respectively as on March 31, 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3qVZD...

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PCHFL to raise up to ₹1,000 crore through NCDs

The funds raised will be used for retail disbursement from Business Line - Money & Banking https://ift.tt/3AxML...

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Razorpay partners Mastercard to make recurring payments secure

Develops MandateHQ solution to help banks comply with the new RBI norms from Business Line - Money & Banking https://ift.tt/2UuXz...

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Asset quality numbers do not reflect stress on bank books: ICRA

The asset quality of banks surprised positively with decline in reported gross non-performing loan ratio at 7.6% and net NPA ratio at 2.5% at the end of March 2021. This was against 8.60% and 3.0% respectively as on March 31, 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3jShh...

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Bajaj Allianz General Insurance, Bank of India in distribution tie-up

The deal will make available a range of insurance products to the bank’s customers from Business Line - Money & Banking https://ift.tt/36lj3...

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Drip Capital partners with SBM Bank India to empower MSME exporters

Firm leverages data analytics and technology to underwrite its transactions from Business Line - Money & Banking https://ift.tt/3wwp4...

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FREO partners with HDB Financial Services to offer lending solutions

Partnership offers consumers high-ticket personal loans of up to ₹10 lakh from Business Line - Money & Banking https://ift.tt/2Uwnp...

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Bajaj Finance sees sharp rise in new loans in June quarter

Bajaj's customer franchise on June 30, 2021, stood at 50.5 million compared to 43 million as of 30 June 2020. The company said it had acquired 1.9 million new customers in Q1FY22 as compared to 0.5 million in Q1FY21. from Banking & Finance – The Financial Express https://ift.tt/3xlUL...

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DHFL: Fresh round of voting by CoC on new distribution mechanism

Under the new proposal, unsecured financial creditors will be paid 40% of their respective admitted claims from Business Line - Money & Banking https://ift.tt/3hF8D...

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RBI warns of stress build-up in consumer credit

The delinquency rates for such loans are going up particularly for private sector banks and NBFCs during the pandemic warned the Reserve Bank of India's latest financial stability report. At the same time the second wave has also affected demand for such loans with a steep fall in demand in April , it said. from Banking/Finance-Industry-Economic Times https://ift.tt/2Uw2s...

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IIFL Home Finance’s NCD is win-win for investors and company, says Chairman Nirmal Jain

It is currently in the market with a ₹1,000 crore public issue of unsecured NCD that offers a return as high as ten per cent (annual interest option) on an NCD (face value ₹1,000) with tenure of 87 months from Business Line - Money & Banking https://ift.tt/3dOCe...

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Over 20 lakh Amazon Pay ICICI Bank credit cards issued on Tuesday

Emerges as first co-branded card to achieve this from Business Line - Money & Banking https://ift.tt/3jRj5...

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Bajaj Finance's headline numbers for the June quarter show muted disbursements and lower customer acquisition

For Bajaj Finance the assets under management grew by over 15% YoY and 4% sequentially despite widespread lockdowns. The AUM stood at Rs 1.59 lakh crore. Disbursements were slow and fell 17% sequentially with new loans disbursed at Rs 46 lakh down from Rs 55 lakh in the March 2021 quarter. from Banking/Finance-Industry-Economic Times https://ift.tt/3dNIw...

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Paytm launches small-ticket instant loans Postpaid Mini to help users manage monthly expenses

Paytm this week, announced the launch of Postpaid Mini, a need-based and consumption-based credit for users to help them manage their household finances. from Banking & Finance – The Financial Express https://ift.tt/3hVcc...

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India has huge potential for growth of alternative lending: Study

The large pool of internet users and high smartphone penetration can ensure the development of the market from Business Line - Money & Banking https://ift.tt/3Aycg...

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Razorpay, Mastercard launch solution for recurring payments; aims to integrate with over 50 banks

This directive is applicable to all recurring payments which were earlier debited automatically from customers' cards (credit/debit/prepaid) for mobile, utility, other recurring bills as well as subscription payments like OTT streaming services. from Banking/Finance-Industry-Economic Times https://ift.tt/2Urxi...

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NHB imposes ₹4.75 lakh fine on HDFC

The National Housing Bank has imposed a monetary penalty on Housing Development Finance Corporation Ltd (HDFC) of ₹4.75 lakh for non-compliance with from Business Line - Money & Banking https://ift.tt/3hhaT...

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Bank of Maharashtra’s total business up 14% YoY in Q1

Advances grow 14% to ₹1,10,444 crore; deposits rise 14% to ₹1,74,377 crore from Business Line - Money & Banking https://ift.tt/2UoMC...

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Indiabulls Hsg Finance expects rating upgrade

This will help grow profitability from Business Line - Money & Banking https://ift.tt/2VbxB...

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NHB imposes Rs 4.75 lakh fine on HDFC for technical non-compliance

​​ "This is to inform you that NHB has on July 5, 2021, (Monday) imposed a monetary penalty of Rs 4,75,000 plus GST on the Corporation for technical non-compliance with NHB circulars," HDFC said. from Banking/Finance-Industry-Economic Times https://ift.tt/3hIIr...

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NCLAT to hear 63 Moons Technologies plea on DHFL

63 Moons holds over ₹200 crore of NCDs of DHFL and have said that the current resolution plan is disappointing for NCD holders from Business Line - Money & Banking https://ift.tt/2SQRK...

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Sumitomo Mitsui acquires 75 per cent stake in Fullerton India for $2 billion

The deal also includes Fullerton India Housing Finance Company Ltd., a subsidiary of FICC from Business Line - Money & Banking https://ift.tt/3jMYt...

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Indian Bank to finance startups in Telangana

Lender launches ‘Prerana’ to mentor MSMEs from Business Line - Money & Banking https://ift.tt/2UlYD...

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Japan’s SMFG nears $2-billion deal for Fullerton India

First-ever entry by a Japanese bank into India’s retail finance business from Business Line - Money & Banking https://ift.tt/3hz0t...

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SAT hearing on PNB Housing-Carlyle deal put off a week

PNB Housing had filed an appeal before the SAT against the letter issued by the SEBI from Business Line - Money & Banking https://ift.tt/3hjYh...

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SAT to hear matter on PNB Housing-Carlyle deal next week

PNB Housing had filed an appeal before the SAT against the letter issued by the Securities and Exchange Board of India last month, requesting it not to go ahead with the proposal until due diligence was done. from Banking/Finance-Industry-Economic Times https://ift.tt/3qMvs...

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Sumitomo Mitsui Financial to acquire 74.9% stake in Fullerton Financial

This investment brings together SMFG’s Asian push towards consumer and MSME lending, with FICC’s expertise in serving mass-market consumers and MSME customers in India. from Banking/Finance-Industry-Economic Times https://ift.tt/2VdDN...

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Pine Labs announces $600 million in funding

The company is backed by Sequoia Capital, Temasek Holdings, Actis, PayPal and Mastercard among others from Business Line - Money & Banking https://ift.tt/3dOC0...

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IIFL Home Finance aims to raise Rs 7,000 crore in FY22

The company has begun its fund-raising exercise through an NCD issue, aiming to mop up Rs 1,000 crore. The tenure of NCD issue is 87 months and the annual coupon rate is 10%. from Banking & Finance – The Financial Express https://ift.tt/2Twol...

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Federal Bank’s gross advances grow 8% in Q1

The Kerala-based lender said at the end of the June 2021 quarter, total deposits stood at Rs 169,393 crore as against Rs 155,938 crore in the year-ago period. Total advances at the end of the first quarter were at Rs 132,770 crore. from Banking & Finance – The Financial Express https://ift.tt/3whrJ...

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RBI to introduce new 10-year G-Sec

The Reserve Bank of India has decided to introduce a new 10-year Government Security (G-Sec), which will become the benchmark paper, through which th from Business Line - Money & Banking https://ift.tt/3Atrl...

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Private banks report deposit surge, muted advances growth till June 30

HDFC Bank bucks the trend with 14.4% growth in credit from Business Line - Money & Banking https://ift.tt/3hBI4...

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Banks’ crypto blockade: Exchanges try other modes to enable trade

Peer-to-peer transaction, e-pay gateways emerge as alternative routes from Business Line - Money & Banking https://ift.tt/2V9ev...

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Equitas SFB waives off non-maintenance fees for current account holders

Many support measures have been introduced for small businesses from Business Line - Money & Banking https://ift.tt/3dLCL...

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RBI’s first purchase of G-Secs under GSAP 2.0 for Q2 on July 8

The Reserve Bank of India (RBI) will buy five Government Securities (G-Secs) aggregating ₹20,000 crore under its G-sec Acquisition Programme (G-SAP from Business Line - Money & Banking https://ift.tt/2Ve38...

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Western Union aims to scale up outbound remittance service

As infrastructure develops at our end, we need to offer the same convenience to people sending money out as well, Says Sohini Rajola, Head of Network — APAC and Middle East, Western union from Business Line - Money & Banking https://ift.tt/2Tuis...

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LoanTap sees 120% increase in loan demand during January-May 2021

LoanTap disbursed personal loans worth over ₹105 crore during the period from Business Line - Money & Banking https://ift.tt/3qUoX...

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HDFC Bank reports 14 per cent loan growth YoY in Q1

The bank slowed its retail disbursements which were down 30% sequentially, reflecting the impact of the second Covid wave. The continued weakness in the retail segment led to retail segment's share in total loans slipping down to 45% from 47% in June quarter last year. from Banking/Finance-Industry-Economic Times https://ift.tt/2Uq6m...

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Yes Bank's loans, advances shrink marginally at Rs 1.63 lakh cr by end of June quarter

The loans and advances stood at Rs 1,63,914 crore as of June 30, 2021 as compared with Rs 1,64,510 crore in the year-ago period, registering a marginal decline of 0.4 per cent on a year-on-year basis, Yes Bank said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3ynXm...

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HDFC Bank loans rise over 14% to Rs 11.47 lakh crore in June

The private sector lender said its domestic retail loans by the end of the first quarter of the current fiscal moved up by 10.5 per cent year-on-year, while the domestic wholesale loans grew by around 17 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/3AxHi...

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Reliance Nippon Life declares ₹306.88 crore bonus to policyholders

Bonus issuance to benefit over 6,85,000 participating policyholders from Business Line - Money & Banking https://ift.tt/3AtSy...

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PhonePe and Flipkart partner to digitise cash-on-delivery payments

To launch contactless ‘Scan and Pay’ feature for the e-commerce major’s pay-on-delivery orders from Business Line - Money & Banking https://ift.tt/2Um9A...

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Paytm launches ‘Postpaid Mini’

The service offers access to loans ranging from ₹250 to ₹1,000 from Business Line - Money & Banking https://ift.tt/3ysUA...

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Private banks report rise in deposits, muted growth in advances in Q1FY22

However, HDFC Bank reported a 14.4 per cent growth in its advances from Business Line - Money & Banking https://ift.tt/3jOKk...

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Gold loans — a win-win for banks, customers

Banks witnessed spectacular growth in this portfolio in FY21 after the Covid outbreak, but will this continue in FY22 too? from Business Line - Money & Banking https://ift.tt/2UoAv...

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A call to preserve the ‘value’ of MSMEs at any cost

A 12-point agenda that could form the basis for a genuine and whole-hearted approach to support such units from Business Line - Money & Banking https://ift.tt/2TsEZ...

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LIC’s auditor appointment made a board process, ahead of IPO

Government will not have any say in auditor appointment of LIC; shareholders to decide at AGM from Business Line - Money & Banking https://ift.tt/3AqpD...

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With rise in hospital bills, demand for high-value cover goes up

Many customers are taking policies of up to ₹1 crore, say insurers from Business Line - Money & Banking https://ift.tt/2TqOm...

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Investments into Neobanking space dip

But players say it’s still early days with many more deals in the pipeline from Business Line - Money & Banking https://ift.tt/2Tz8M...

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Banks’ exposure to airports doubles over last year

Many airports facing cash-crunch due to pandemic from Business Line - Money & Banking https://ift.tt/3xl69...

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Industrial sector's share in bank credit falls sharply as corporates deleverage, seek out new fund sources

Loans to the private sector declined from 37.6% in 2014 to 27.7% at the end of March 2021. Corporate credit acceleration in govt-owned enterprises was offset by the sharp decline in credit to private sector partly due to de-leveraging. During the same period personal loans grew from 16.2 to 26.3%, in which housing loans grew from 8.5% to 13.8%. from Banking/Finance-Industry-Economic Times https://ift.tt/2Up9F...

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Edelweiss General Insurance eyes 80-85 pc of business from health, motor segments: CEO

"We hope to maintain a similar growth rate in the current year also. In the first two months (April to May 2021), we have seen over 60 per cent growth...," Shanai Ghosh, Executive Director and CEO, Edelweiss General Insurance, told. from Banking/Finance-Industry-Economic Times https://ift.tt/3dG4g...

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Airtel Payments Bank hopeful of break-even in FY22; logs surge in business volumes amid pandemic

Losses for full year FY21 were at about Rs 420 crore, while the fourth quarter losses stood at nearly Rs 70 crore. The company logged over 32 per cent growth in revenue at almost Rs 627 crore for FY21 from Rs 474 crore in previous fiscal. from Banking/Finance-Industry-Economic Times https://ift.tt/3jHhx...

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