FSIB will conduct interview soon of all MDs for selecting a new MD...
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Apollo 24|7 forays into online insurance distribution, plans to launch products from 12 insurers
It has secured regulatory approval to operate as a corporate agent...
Need to further strengthen financial inclusion initiatives: FM Sitharaman
Finance Minister Nirmala Sitharaman As of March 19, PMJJBY has...
Govt may invite preliminary bids for IDBI Bank stake sale next month
Currently, the government holds 45.48 per cent in the bank, and Life Insurance Corp of India, which is currently the promoter of the bank, owns a 49.24 per cent stake. "Strategic sale is uncharted territory. There are a lot of issues to be addressed, including an open...
Reliance Capital bid deadline ends today amid investors concern over Reliance General
IDBI Trusteeship Services Limited acting in its capacity as a debenture trustee on behalf of Credit Suisse, had invoked the pledge of Reliance Capital's 100 per cent shareholding in Reliance General in November 2019 and transferred the shares to its account. The...
Financial inclusion major step towards inclusive growth: FM
Nirmala Sitharaman,Finance Minister The success of the Pradhan Mantri Jan Dhan Yojana (PMJDY) since August 28, 2014 is reflected in terms of opening of over 46 crore bank accounts with deposit balance of Rs 1.74 lakh crore with its expanded coverage to 67 per cent...
Axis Bank stake in Max Life Insurance likely to rise to 20% in 6-9 months: Tripathy
''The bank currently holds about 13 per cent and we are hopeful that over the next 2-3 quarters they would be able to take it to 20 per cent,'' Tripathy New Delhi: Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 6-9...
Life insurers keen to re-enter indemnity-based health space
The life sector players such as LIC, private players like ICICI Prudential Life, HDFC Life, and Bajaj Allianz Life, among others, are unanimous in saying that all of them were offering health insurance before the sectoral regulator Irdai in 2016 abruptly asked them to...
Max Life Insurance enters pension fund management biz; its arm secures licence from PFRDA
Set up with initial capital of Rs 50 crore, the fund manager is expected to begin its operation in October, Max Life managing director and CEO Prashant Tripathy told PTI New Delhi: Max Life Insurance Company on Friday said it has ventured into the pension fund...
Flexible work places can encourage more women to join labour force, Modi says
Prime Minister Narendra Modi Reiterating that the future needs flexible workplaces, a work-from-home ecosystem, and flexible work hours, the Prime Minister said,`` we can use systems like flexible workplaces as opportunities for women's labour force participation.''...
HDFC Bank picks up 9.94 % in Go Digit Life for Rs 120 crore
HDFC Bank's investment has valued GO Digit Life , which is yet to be a licensed, at around Rs 1200 crore The partnership between Kamesh Goyal and Indian born Canadian billionaire Prem Watsa's Fairfax, which already has a general insurance company, is now planning to...
Indian insurance industry providing a higher return on equity than developed markets: IRDAI Chairman
Debasish Panda,chairman,IRDAI ``Indian insurance companies on an average have provided a return of 23 per cent while US insurance industry’s return has been at 13 per cent, a point to note for our American counterparts,’’ said Panda, while addressing a webinar...
IRDAI forms Mamta Suri panel on implementation of Ind AS/ IFRS in insurance sector
Among other things, the panel will recommend steps as may be taken towards effective implementation of Ind AS/IFRS along with phase-wise timelines, recommendations on key interpretations (best practices) while implementing, Ind AS/IFRSc,recommendation on proforma...