The account aggregator framework facilitates secure and seamless...
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Growing role of insurance companies and retail investors in private credit making it vulnerable: BIS report
“The growing role of insurance companies and retail investors, as...
100% FDI: Govt expects insurance industry to grow at 7.1% annually over next 5 years outpacing global and emerging market growth
This enhanced limit will be available to those companies which...
Gradual approach to bank privatisation would result in better outcomes: RBI report
“The gradual approach to privatisation adopted by the government can ensure that a void is not created in fulfilling the social objective of financial inclusion”. Mumbai: The Reserve Bank of India (RBI) on Friday issued a clarification on a report related to the...
Sebi joins account aggregator ecosystem
Under the framework, Financial Information Providers (FIPs) in the securities market, like depositories and asset management companies (AMCs) -- through their Registrar and Transfer Agents or RTAs -- will provide financial information pertaining to securities markets...
Govt holds interviews for appointing IRDAI’s non-life member, private sector professionals lead the race
From the public sector insurers, Madhulika Bhaskar, general manager and acting in charge of New India Assurance(NIA) was the lone candidate to have appeared for the interview. Some of the private sector professionals who had appeared for the interview today are-TA...
RBI seeks public feedback on changes in payment systems
The focus of RBI's initiatives in the payment systems has been to ease frictions which may arise from systemic, procedural or revenue-related issues. While there are many intermediaries in the payments transaction chain, consumer complaints are generally about high...
LIC keen on entering mediclaim segment, awaiting regulatory clarity: Chairman
M R Kumar,Chairman, LIC Recently, the new Irdai Chairman Debasish Panda had said it was time life insurers re-entered the health vertical as he had given a mandate to the industry to ensure that every citizen has a health insurance policy by 2030. However, Panda later...
Income tax payers barred from enrolling in Atal Pension Yojana from Oct 1
The government introduced APY on June 1, 2015, to provide social security to workers mainly in the unorganised sector. Subscribers of the scheme get a minimum guaranteed pension of Rs 1,000 to Rs 5,000 per month after attaining 60 years of age depending on their...
In India,7.3% of the population owned digital currency in 2021, 7th highest in the world: UN
“If cryptocurrencies become a widespread means of payment and even replace domestic currencies unofficially (a process called cryptoisation), this could jeopardise the monetary sovereignty of countries,” UN said Ukraine topped the list with 12.7 per cent, followed by...
IRDAI is yet to take any decision on “disclosure of commission on the policy document”:Minister Karad
Bhagwat Karad, minister of state, ministry of finance IRDAI has informed that they have not received any complaint raising the issue of difficulties faced by individual agents of public general insurance due to cut and pay system of some private insurers who offer...
Sebi proposes blue bonds concept for sustainable financing activities
''India has tremendous scope for deployment of blue bonds in various aspects of the blue economy'' like oceanic resource mining, sustainable fishing, national offshore wind energy policy and in the area of blue flag beach eco-tourism model that provide the tourists...
Irdai to revamp grievance redressal mechanism, to rename it ‘Bima Bharosa’
The robust and effective mechanism would allow easy on-boarding of the complainant and s/he has to fill only eight mandatory fields to lodge the grievance. The landing page is simple with a clean design. It focusses on two actions -- namely 'register a new complaint'...