Sanjay Lohiya, Secretary, Department of Financial Services Lohiya...
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LIC considers fintech arm amid push for technology-led expansion
"So, both go hand in hand…we are engaging the fintech players but...
Bajaj Finserv to Invest in AI, Tech Startups
"Bajaj Finserv companies will invest Rs 1,500-2,000 crore over a...
Life Insurance:Support for Indian households across stages
Out of the total benefits paid, ₹2.33 lakh crore has been on account of withdrawals and surrender, an increase of 1.77% over last year. Since persistency ratios remain robust, it signifies planned lifecycle exits.,said Kamlesh Rao, chairperson, Insurance Awareness...
Jio Fin Services expects to begin life, general insurance biz in 2026
``We hope to start insurance manufacturing in 2026, subject to regulatory approvals, The company is working towards building the necessary teams for the insurance foray.'' Hitesh Sethia,chief executive and managing director said Mumbai:After commencing its reinsurance...
Dip-stick Survey:DFS Secy takes up unsatisfied closed complaints with banks and insurers
M Nagaraju, secretary, Department of Financial Services Till date eighteen such meetings have been conducted and 360 grievances have been reviewed. The objective of such an exercise is to assess the efficacy of grievance resolution through a 'dip-stick survey' at the...
Financial literacy a “core life skill” to secure savings, says Shamika Ravi
Shamika Ravi, Member of the Economic Advisory Council to the Prime Minister, explained that while increased digitalization has simplified access through phones, it has not necessarily improved understanding of sophisticated products. She questioned why traditional...
NHRC notice to IRDAI over specially-abled children’s kin facing difficulty in getting life insurance
Taking cognisance of the complaint, the bench of the Commission headed by Priyank Kanoongo has issued a notice to Insurance Regulatory and Development Authority of India (IRDAI), directing it to take appropriate action in this matter and submit a response to the...
Chinese Insurer Ping An’s offshore unit reconsiders US exposure
Ping An Overseas Holdings is building a portfolio of around $60 billion overseas, with some of that going to investment assets in the US, Tung said. “Now, we think about whether we should trim down a bit, even though the overall portfolio is still very small anyway.”...
Women & Financial Independence:Navigating insurance and long term planning
In terms of product preferences, women increasingly opt for a mix of protection and long- term savings solutions. Term insurance for financial protection, savings-oriented life insurance plans for wealth creation, and retirement solutions such as annuities are among...
Public Insurance Registry to modernise information architecture of insurance sector:Seth
Ajay Seth, chairman, IRDAI `By enabling standardised, consent-based access to structured insurance data, the Public Insurance Registry seeks to enhance transparency, strengthen consumer confidence, and support more effective regulatory oversight. This reform is...
Government to expand insurance coverage to 25,000 gram panchayats: Sitharaman
25,000 gram panchayats will be covered this time, with gram panchayat being at the focal centre and looking at coverage of insurance in and around that area," Finance Minister Nirmala Sitharaman said New Delhi:The central government is set to extend insurance coverage...
IRDAI reconstitutes Insurance Advisory Committee
The IAC advises the Irdai on framing regulations, protecting policyholder interests, and fostering the orderly growth of the insurance sector. Comprised of industry experts, it reviews policies, ensures regulatory efficiency, and recommends measures to improve market...