Product launches to not be a key differentiator for insurers: ICICI Lombard ED

The statement was made at an event to announce the launch of new products by ICICI Lombard General Insurance from The HinduBusinessLine - Money & Banking https://ift.tt/MznfH...

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Bank credit grows at 15.3%, fastest in 3 years

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YLI5A...

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Central banks need to be decisive on inflation, IMF's Gopinath says

Given the risks of inflation becoming embedded, Gopinath said top central banks will need to be uniformly tough despite the possible costs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Unl6s...

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Indian corporates make a dash for debt as yields plateau

Domestic companies have already raised around ₹40,000 crores through private placements of bonds from The HinduBusinessLine - Money & Banking https://ift.tt/hkUfO...

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Life insurance penetration in India reaches 3.2%, close to global averages: Benori Knowledge

Insurance penetration is expected to increase in the coming years owing to multiple factors that include changing consumer perception and realisation of financial security, the easing of IRDAI regulation regarding product approval and distribution, customization in products, balanced channel mix, and digitization efforts at the company level. from Banking/Finance-Industry-Economic Times https://ift.tt/CXqNF...

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IDBI Bank CEO says lender can recover $2.4 billion in bad loans

India is considering selling at least 51% of the $5 billion bank, people familiar with the matter have said, in what is set to be the biggest sale of the government’s stake in a lender in decades. from Banking/Finance-Industry-Economic Times https://ift.tt/1nL8h...

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RBI, banks in talks to strengthen KYC identification format

At present, any one of the six documents-passport, Aadhaar, voter's identity card, NREGA card, PAN card or driving licence-is required towards proof of identity and proof of address to open a bank account. It becomes difficult to trace multiple accounts of an individual if they are not linked and are opened with different KYC documents. from Banking/Finance-Industry-Economic Times https://ift.tt/gMGx6...

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Google removes over 2,000 loan apps from India Play Store since Jan

Saikat Mitra, Senior Director and Head of Trust and Safety, Google APAC (Asia Pacific region) said the company is commited to complying with regulations in all jurisdictions it operates in, and termed online harm as a "global phenomenon". from Banking/Finance-Industry-Economic Times https://ift.tt/lPZOo...

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Will the RBI paper put an end to the payment industry's tussle? Here's a view

It solicits public views on what could be the best way forward to evolve a framework that is convenient, safe and affordable for users, reasonably covers the costs of running reliable systems, and incentivises private operators to do business at a time digital transactions in the country are at a record high. from Banking/Finance-Industry-Economic Times https://ift.tt/1Ufrj...

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Axis Bank to roll out campaign with KMRL for its Kochi1 card

Announces new offers for cardholders thru tie ups with local, pan India, global merchants  from The HinduBusinessLine - Money & Banking https://ift.tt/eMwAK...

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IBBI chairman nudges lenders to provide interim finance to a company facing insolvency proceedings

It is in the interest of existing lenders to provide interim finance since they would benefit in getting an improved resolution amount being high of the waterfall priority, observed Ravi Mittal, chairman of IBBI, in a quarterly update released early this week. from Banking/Finance-Industry-Economic Times https://ift.tt/C58al...

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India Inc comfortably placed, going by IBC admissions data: Kotak Securities

Kotak Securities analysts opined that large corporate India is in the best shape from The HinduBusinessLine - Money & Banking https://ift.tt/vGaq4...

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Irdai provides more flexibility to insurers, eases limits for commissions

The insurers have been told by Irdai that their commission and remuneration payout should be based on a board-approved policy which will be reviewed on a yearly basis. No commission shall be payable to insurance agents or the insurance intermediaries in the direct business, and the insurers must grant discounts on the premium. from Banking/Finance-Industry-Economic Times https://ift.tt/drc2q...

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Lack of depth, high margin norms impeding development of corporate bonds market

Derivatives and repo markets could well play a role in aiding the corporate bond market to gain momentum as those are billed as popular hedging tools for sophisticated investors betting on bonds sold by companies. "Beyond this, market development and improvements will remain a continuous exercise," he said. from Banking/Finance-Industry-Economic Times https://ift.tt/SPNH6...

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Banks seek clarity on new rules about roundtripping in overseas investment

Under the new rules, Indian entities can make investments in foreign companies that have Indian subsidiaries provided the whole investment structure doesn't have more than two layers. Now, there are two interpretations about how the layers will be counted, experts said. from Banking/Finance-Industry-Economic Times https://ift.tt/BI5h7...

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Govt mulls selling at least 51% stake in IDBI Bank

A panel of ministers will make the final decision on the structure of the deal. The government and LIC will formally seek to gauge buyer interest as soon as the end of September. Shares in IDBI Bank have risen 6.3% in the past 12 months, giving the lender a market value of about 424.7 billion rupees ($5.3 billion). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/59kmz...

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PNB Housing Finance interim CFO Kaushal Mithani resigns

Mithani, who was serving as the interim Chief Financial Officer and Key Managerial Personnel of the company, has been relieved from the responsibilities with effect from August 23, 2022. from Banking/Finance-Industry-Economic Times https://ift.tt/z8cs4...

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Inflation peaked at 7.8%, 4% target by FY24: RBI governor

Reserve Bank of India (RBI) governor Shaktikanta Das has said inflation expectations have been anchored after peaking at 7.8% in April 2022. The governor also said that the central bank would like to bring down inflation to within 4% over a time cycle of about two years or so. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0l1zJ...

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Hacked Coinbase User Blasts Help Desk’s ‘Impenetrable Screens’

More than $200,000 in cryptocurrency had been siphoned from the user’s account after hackers took over from The HinduBusinessLine - Money & Banking https://ift.tt/Lhs8q...

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Service industry a huge opportunity for factoring: 121 Finance MD

In April, 121 Finance became the first entity to become an NBFC factor under new regulatory guidelines from The HinduBusinessLine - Money & Banking https://ift.tt/atr1G...

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Massive asset liability mismatch in the Indian banking system

Privatization of banks could lead to heightened risks: Dr. Pronab Sen during Bandhan Bank’s anniversary celebration from The HinduBusinessLine - Money & Banking https://ift.tt/GsCku...

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Bankers are steadily loosening their purse strings for realty

Commercial banks net credit to the real estate sector witnessed 3.5 times growth during 2021, as compared to the pandemic period, shows the Reserve Bank of India's data on sectoral lending. from Banking/Finance-Industry-Economic Times https://ift.tt/nIo1t...

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Tokenisation of debit, credit cards by September: Here's what it means for users

RBI extended the tokenisation deadline by three months starting July. This extended time period may be used to create public awareness about the process of creating tokens and in facilitating the stakeholders to be ready for handling such transactions. from Banking/Finance-Industry-Economic Times https://ift.tt/OhsCm...

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Smaller banks follow big peers, hike FD rates

With larger public-sector banks like SBI, Bank of Baroda and Canara Bank offering more than 6% on term deposits, mid-sized banks are likely to hike their deposit rates again. Almost all banks offer senior citizens a rate that is higher by 25-50 basis points from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FitvY...

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I do not see inflation a big worry for India: Sunil Subramaniam of Sundaram Mutual Fund

RBI may get into rate pause mode even as the US Fed continue with rate hikes from The HinduBusinessLine - Money & Banking https://ift.tt/fysxi...

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RBL Bank appoints Gopal Jain, Dr. Sivakumar Gopalan as non-executive directors

RBL Bank has been working on adding a diverse set of leaders to accelerate its 2.0 strategy from The HinduBusinessLine - Money & Banking https://ift.tt/SNVTW...

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Muthoot Finance launches Milligram Gold Point programme for customers

Muthoot Finance The company has becomes the first gold loan NBFC to launch a new reward programme from The HinduBusinessLine - Money & Banking https://ift.tt/sHx2R...

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IGST on Ocean Freight Likely to be Scrapped

Experts said the move is likely to bring much needed relief to the importers, whose refund claims worth over ₹1,000 crore are stuck. "The importers must get their due after the Supreme Court order. There is still no clarity in this regard and a formal communication will help the early release of funds," said Abhishek Rastogi, partner at Khaitan and Co, who represented importers in the Mohit Mineral case. from Banking/Finance-Industry-Economic Times https://ift.tt/InWHr...

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IDBI Trusteeship faces Rs 1-lakh fine for non-compliance of debenture trustee norms

Accordingly, by failing to conduct inspection of the books of accounts, records, registers of FHHPL, the noticee has violated DT (Debenture Trustees) Regulations. She also noted that the noticee had not taken any reasonable and necessary steps to fulfil its obligations, and hence can be made liable for the neglect and failure of FHHPL. from Banking/Finance-Industry-Economic Times https://ift.tt/O7SxT...

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LIC seeks buyers for its Rs 3400 crore secured bonds issued to Reliance Capital

IDBI Capital Markets, the insurance company’s process adviser for the sale of bonds, has invited binding bids from asset reconstruction companies by the evening of September 5, the people said. This is the third attempt by the country’s largest life insurance company to sell its Reliance Capital debt. from Banking/Finance-Industry-Economic Times https://ift.tt/bRokq...

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DICGC to pay depositors of 17 co-operatives in October

The Deposit Insurance and Credit Guarantee Corporation (DICGC) will be making payments to the eligible depositors of 17 co-operative banks in October. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/A5ON1...

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Central Bank of India likely to exit RBI PCA framework soon

Central Bank of India reported a 14.2 per cent rise in net profit to Rs 234.78 crore in the first quarter ended June this fiscal as compared to Rs 205.58 crore in the same quarter a year ago. from Banking/Finance-Industry-Economic Times https://ift.tt/rw5n6...

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Central Bank of India likely to exit RBI PCA framework soon

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/oWe1M...

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Castler partners Yes Bank for digital escrow services

The company said the tie-up will further strengthen its digital leadership position and is part of an effort to make banking more inclusive and accessible to its growing consumer base. from Banking/Finance-Industry-Economic Times https://ift.tt/jgm7d...

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RBI may allow SFBs to co-lend with NBFCs as part of its liberalisation measures

After initial stabilisation period of 5 years, and after a review, RBI said it may liberalise the scope of activities of SFBs. from The HinduBusinessLine - Money & Banking https://ift.tt/AbjHV...

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LIC sees 20 pc decline in death claims in Q1 FY23 as COVID impact ebbs

​​ In the June quarter of the previous fiscal, settlement of death claims was to the tune of Rs 7,111 crore, which for Q1 of this year was Rs 5,743 crore, LIC Chairman M R Kumar said in a post-earnings call with analysts. from Banking/Finance-Industry-Economic Times https://ift.tt/8iWQK...

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Congress demands white paper on privatisation of public sector banks from govt

"Their reckless privatisation will have catastrophic consequences," Rahul Gandhi said. from The HinduBusinessLine - Money & Banking https://ift.tt/H2eI4...

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