In a statement, SpiceJet said its Boeing 737-700 aircraft was...
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Nagaraju asks LIC to monetise massive data from its 29 crore policies
Lto R- Dinesh Pant, managing director(MD), LIC, R. Doraiswamy, MD...
ICICI Lombard General Insurance net profit rises 7.3% to Rs546 crore in Q4FY26
Though the company's combined ratio has improved from 102.50 per...
IRDAI imposes a stiff penalty of Rs 3.39 crore on Star Health for violating cyber security laws
A significant data leak from Star Health Insurance was reported in Aug, 2024, affecting approximately 3.1 crore customer records. The data, including mobile numbers, PAN details, addresses, and medical information, was allegedly accessible through a website created by...
SBI Life’s net profit rises 14% to Rs594 crore in Q1 FY 25
SBI Life's Value of New Business (VoNB) stands at Rs.1,088 crores with a growth of 12% during the reporting period. The company's VoNB Margin was at 27.4% in Q1FY 25 Mumbai: SBI Life Insurance, the largest private sector life insurer in the country, has recorded a...
Former finance secy Ajay Seth appointed as new IRDAI chairman for 3 yrs
Ajay Seth, Chairman-designate, IRDAI Seth, a 1987-batch Indian Administrative Service(IAS) officer from the Karnataka cadre, retired in June end New Delhi: Finally, Ajay Seth, 60, former Finance Secretary, Ministry of Finance, has been appointed as the new chairman of...
Angel one forms Rs 400 crore life insurance JV with Singapore’s Livwell
Wilf Blackburn, ex-regional CEO of Prudential Asia, is proposed to chair the proposed venture, while Nikhil Verma, former deputy CEO of Aviva Vietnam, is proposed to lead as CEO Mumbai: Domestic brokerage Angel One on Wednesday announced a plan to partner Singapore's...
Irdai proposes internal ombudsman for insurers to address claims up to Rs 50 lakh
"Applicable to all insurers (except reinsurers) with more than three years of operations, the framework mandates the appointment of an internal insurance ombudsman to address complaints involving claims up to Rs 50 lakh," it said. New Delhi: Irdai on Wednesday...
FM expands footprint in India with new innovative centre in Bengaluru and sales office in Mumbai
Complementing the Bengaluru expansion, FM will also open a new sales office in Mumbai later this year. The Mumbai office will help the company strengthen its presence in the country’s financial capital, bringing it closer to key clients and decision-makers Bengaluru:...
Indian cities need $2.4 trillion for climate infrastructure by 2050, World Bank says
The number of Indians living in cities is projected to nearly double to 951 million by 2050 from 480 million in 2020. But erratic rainfall, heatwaves, and rising sea levels are leaving urban areas in the world's most populous nation increasingly vulnerable, the bank...
Govt’s Bima Sakhi Scheme enrolls over 2 lakh women
Pankaj Chaudhary, minister of state ,Ministry of Finance LIC has already paid Rs115.13 crore to 2,05,896 Bima Sakhis in the country till July 14 New Delhi: Life Insurance Corporation (LIC) has provided a budget of Rs 520 crore for the government's Bima Sakhi- “Mahila...
India’s financial inclusion index improves, surges to 67 from 64.2 in March 2024: RBI
It captures the level of financial inclusion using data from different sectors, including banking, insurance, investments, pensions and postal services. Mumbai: The Reserve Bank of India (RBI) on Tuesday said that the country's financial inclusion index (FI-Index)...
TRAI convenes joint committee of regulators on issues of spam and cyber fraud
Key outcomes were urgent transition to 1600-Series for Commercial Calls, regulators, discussed setting up timelines for migration to the dedicated 1600-number series for transactional and service calls in the banking, financial services, and insurance (BFSI) sectors....