The old ways of doing business are no longer enough. Brokers are...
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Whole-time directors’ vigilance matters of PSU banks, insurers to be reported promptly:FinMin
The directive from the Department of Financial Services (DFS) under...
LIC collaborates with Sahaj Insurance Services to reach rural and semi urban areas
The Life Insurance Corporation of India (LIC) on Friday announced...
Govt appoints merchant bankers legal firms for managing stake sales in LIC, PSBs other fin institutions
"As far as LIC is concerned, we have completed the RFP process. The process for appointment of merchant bankers and legal advisors has been completed," DIPAM) Secretary Arunish Chawla said The government needs to offload another 6.5 per cent stake in the public sector...
Nearly 6.6 lakh new PM Jan Dhan Yojana accounts opened in 1 month
A staggering 55.44 crore Jan Dhan accounts have been opened in India, 56 per cent of which belong to women, and the total amount in these deposits has surpassed Rs 2.5 lakh crore as of May 21 this year. New Delhi: Nearly 6.6 lakh new PM Jan Dhan Yojana accounts were...
PB Fintech’s net profit increases 42% Rs to 85 crore, revenue up 33 % to Rs 1,348 cr in Q1 FY26
The company's insurance premium grew 36%, led by a 65% rise in new health insurance policies New Delhi: PB Fintech reported a 40% rise in first-quarter profit on Thursday, as more consumers turned to digital platforms for insurance products. The company posted a...
Ambanis to infuse Rs 16K cr in Jio Financial Services to take on rivals
Mukesh Ambani, chairman, Reliance Industries Currently, JFS, which has floated three joint ventures with Germany major Allianz for foraying into Reinsurance, Life and General Insurance business, operates its financial services business through consumer-facing...
No Insurance Amendment Bill in Parliament’s Monsoon session
M Nagaraju, Secretary, Department of Financial Services ``The Bill is not in the agenda of the current session of the Parliament,’’ confirmed M Nagaraju, secretary, Department of Financial Services(DFS) Mumbai: It is now official. The much awaited `Insurance...
Raising FDI limit in insurance aimed at unlocking full potential of sector: FM
Nirmala Sitharaman Union ,Finance Minister "Further, this will eliminate the need for foreign investors to find Indian partners for the remaining 26 per cent, easing the process of setting up their operations in India, effectively increasing the number of insurers in...
Former finance secy Ajay Seth takes over as new chairman of IRDAI
Some of the other issues, which will be matter of focus for Seth, is falling insurance penetration in the country and unaffordability of insurance premium, particularly health insurance, about which of late the government has been vocal about. Hyderabad: Former...
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...