M Nagaraju, Secretary,Department of Financial Services "Secretary...
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Generali announces Central Bank as its new joint venture partner in 2 Indian insurance JVs
Generali will be holding a 74% stake while Central Bank of India...
Finmin asks public sector banks to monetise investments in subsidiaries via listing on bourses
For example, the country's biggest lender State Bank of India may...
RBI reviews risks to Kotak Mahindra Bank’s stability from its 2 insurance subsidiaries: Report
The bank however has termed claims made in this report "completely incorrect and baseless" Kotak Mahindra's holdings in units - Kotak Mahindra Life Insurance Co. and Kotak Mahindra General Insurance Co. - are also under review as the central bank assesses the banks'...
Reliance General Insurance receives Rs 200 cr capital from its promoter
Rakesh Jain, CEO of Reliance General Insurance said, "With this capital infusion, we are well-equipped to seize opportunities, innovate, and continue providing best-in-class insurance solutions." Mumbai: Reliance General Insurance Company Ltd (RGICL), in a strategic...
Govt pats IRDAI for unveiling a slew of reforms in insurance industry
(L to R) Neerja Kapur, CMD, New India Assurance, Debasish Panda, chairman, IRDAI, Vivek Joshi,secretary, Department of Financial Services at NIA's 105th foundation day celebration in Mumbai on Friday ```The government is very supportive of the amendments and changes...
RBI plans guidance on stress testing for climate vulnerability of banks’ credit portfolio: RBI dy governor
''For this to materialise, central banks can incorporate climate-related risks into their supervisory frameworks and can contribute to the development of frameworks and standards for green finance. These frameworks can help promote transparency, standardization, and...
HDFC Bank to focus on bundled products for its customers: CEO
''Savings accounts, personal loans, insurance cover, SIPs can all be bundled along with a home loan to create a compelling value proposition to the customer, that probably does not exist in the market at the scale at which this is envisaged,'' said HDFC Bank managing...
Reliance General Insurance to get Rs 200 cr capital infusion from Reliance Capital
Post the capital infusion by RCAP, Reliance General Insurance will also raise an additional Rs 400 crore Tier 2 capital to accelerate growth, sources said The company had said that borderline solvency was creating business hesitation in corporate clients, government...
India needs average annual growth of 7.6 pc to become developed nation by 2047: RBI article
It also said that to become a developed country by 2047, India’s per capita GDP needs to rise by 8.8 times from the current level. In other words, the current per capita GDP of USD 2,500 needs to rise to to USD 22,000 Mumbai: India could become a developed country by...
DICGC asks banks to display its logo, QR code on their websites
''With a view to enhance the awareness about deposit insurance in a focused and sustained manner and in consultation with the RBI, it has been decided that all banks registered with DICGC shall henceforth display the logo of DICGC and QR code linked to the DICGC...
Credit card spending hits record high at Rs 1.4 lakh crore in May; cards in use at 87.4 million
Indicating the rising stress level among individuals, a Transunion Cibil report last week said delinquencies in the credit card portfolio of banks have been rising and have jumped by 66 basis points to 2.94 per cent in March 2023. Credit card spending has hit a record...
Max Life partners with DCB Bank to offer life solutions
Max Life Insurance Company Ltd. has announced its partnership with DCB Bank for providing a variety of life insurance products to the bank's customers, including term, savings, and retirement plans, allowing them to protect their financialfuture and expand their...