Banking & Bancassurance

IRDAI seeks proposal from LIC on stake reduction in IDBI Bank

Indian News       Mar 11, 2019

New Delhi:: Insurance Regulatory and Development Authority of India (IRDAI) stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks.  ...

SBI has found fraud worth Rs 7,951.3cr in Apr-Dec: RTI reply

Indian News       Feb 27, 2019

  Mumbai: The State Bank Group has said as much as Rs 7,951.29 crore involving 1,885 cases of fraudulent activities have come to light during the first nine months of the current fiscal year.   In an RTI reply, the nation's largest lender said, the first quarter...

Automation has SBI leaving 25% retirement vacancies open for tech

Indian News       Feb 25, 2019

MUMBAI: As technological shifts make more inroads into banking, the nations largest lender SBINSE -0.30 % has decided to replace only 75 percent of its retiring workforce over a five-year period and is benefiting from the prevailing poor jobs scenario by getting the best of...

NPCI identifies new type of digital banking frauds

Indian News       Feb 18, 2019

  Mumbai: National Payments Corporation of India (NPCI) is at the forefront of driving digital payments to deliver a simple, secure and seamless experience for consumers. With the widespread acceptance and growth of Digital payments it is paramount that consumers also learn safety aspects of any...

Citi India CEO lost RBI confidence

Indian News       Feb 15, 2019

  Mumbai: Citigroup, the biggest foreign bank in India by assets, has joined a growing list of lenders that have seen their local leadership roiled by the Reserve Bank of India (RBI).   The RBI around the end of last year informed Citigroup that it wouldn't approve...

Ashish Srivastava , MD &CEO, PNB Metlife with PV Sindhu, India’s top-ranked professional badminton player

PNB plans to dilute minor stake in life insurance JV

Indian News       Jan 31, 2019

  Mumbai: State-run Punjab National Bank will be diluting a minor stake in its life insurance joint venture PNB Metlife and own over 26 percent of the venture, a top official said on Thursday.   There was no word from the management on a media report of...

Nilesh Sathe, member(Life), IRDAI

LIC can continue its ownership of IDBI Federal Life Insurance for the time being:IRDAI

Indian News       Jan 24, 2019

  Mumbai:  The insurance regulator IRDAI will allow IDBI Federal Life Insurance to continue with its existing promoter,IDBI Bank even after the Life Insurance Corporation(LIC) has picked up 51 per cent in the bank and is named as the new promoter of the bank.. The IRDAI...

LIC completes acquisition of 51% stake in IDBI Bank

Indian News       Jan 21, 2019

  Mumbai: IDBI Bank Monday said insurance behemoth LIC has completed acquisition of 51 per cent controlling stake in the bank, making it the lender's majority shareholder.   "The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with...

Vishal Sharma, Executive Vice President, Bancassurance – Retail Business, HDFC ERGO General Insurance Company

Bonding with Banks 

Articles       Jan 17, 2019

  The privatisation of the insurance industry in the 2000s gave an overall boost to the insurance sector. However, till late 2012, banks were allowed to sell insurance products of just one insurancecompany, in each category. Thereafter, with the new regulation, banks were allowed to adopt...

BoI eyes Rs 1200-cr from exiting life insurance arm Star Union

Indian News       Dec 20, 2018

  Mumbai: State-run Bank of India is looking to raise Rs 1,000-1,200 crore by selling its entire 28.96 percent stake in life insurance joint venture, Star Union Dai-Ichi Life Insurance, a source has said.   The bank will soon float a request for proposal for exiting the...

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