Intermediaries

Flipkart partners with Aegon Life Insurance to offer paperless life insurance policy

Indian News       Mar 16, 2020

  Bengaluru: Flipkart, and Aegon Life Insurance have joined hands to sell comprehensive insurance solutions to its customers.   An instant digital policy with a sum assured of up to 10 lakhs, will be available to consumers from March 2020. With instant life insurance cover through a...

RBI asks state govts not to move deposits out of pvt banks; says money is safe

Indian News       Mar 12, 2020

  Mumbai: The Reserve Bank of India (RBI) has asked state governments not to transfer their deposits out of private sector banks saying apprehensions about the safety of deposits in private lenders are highly misplaced. In a letter written to chief secretaries of all states, the...

Aon to acquire Willis Towers Watson for $30bn in an all-stock transaction, combined businesses at approx $80bn

International News       Mar 09, 2020

  London:  Aon, the second largest global re/insurance broker, is set to acquire Willis Towers Watson for $30bn (£22.9bn), the third largst international re/insurnace broker, in an all-stock transaction which values the combined businesses at approximately $80bn (£61.1bn),creating the world's largest insurance broker but is almost...

Merger of 10 public sector banks into 4 to come into effect from Apr 1: FM

      Mar 04, 2020

  New Delhi: Finance Minister Nirmala Sitharaman on Wednesday said the exercise of consolidation of 10 public sector banks (PSBs) into four is on course and the merger will come into effect from April 1, 2020.   The Union Cabinet, she said, has given a go-ahead for...

Paytm launches insurance broking biz,to cross-sell insurance products through its leverage on its 16 mn merchants

Indian News       Mar 03, 2020

  New Delhi: India's largest payments and financial services platform Paytm, on Tuesday announced that its wholly-owned subsidiary, Paytm Insurance Broking Private Limited (PIBPL), has secured its license to sell life and non-life insurance from the Insurance Regulatory and Development Authority of India (IRDAI).   Through its...

Innovative foreign lenders are going digital to expand in Indian retail banking space

Indian News       Mar 03, 2020

  Hong Kong: Outsized returns in India, besting local lenders for the first time in a decade, are emboldening banks such as Citigroup, Deutsche Bank and HSBC to invest more in a market that has long held promise but tended to under-deliver.   Easing regulations and a...

Mega bank merger on track, says Sitharaman amid worry over April 1 deadline

Indian News       Feb 26, 2020

  New Delhi: Mega bank merger on track, says Sitharaman amid worry over April 1 deadlineWith the April 1 deadline for the mega merger of 10 state-run banks into four fast approaching, Finance Minister Nirmala Sitharaman on Wednesday asserted that there is no uncertainty about the...

Aon aligns leadership team, appoints Andersen as President

International News       Feb 24, 2020

  Chicago: Eric Andersen is named president of Aon, reporting to Greg Case, the firm's CEO, as Aon continues to accelerate execution on its Aon United Blueprint.   Andersen will lead an internal and external search to appoint regional CEOs who will be accountable for going to...

Mega bank consolidation: Meeting April 1 deadline appears challenging

Indian News       Feb 23, 2020

  New Delhi: With the deadline of April 1 fast approaching for the mega merger of ten public sector banks, there seems to be more odd in the way of meeting the target date as a series of regulatory approvals and clearances are still pending, bank...

Bank accounts of over 200 NDMC employees hacked, money siphoned off

Indian News       Feb 15, 2020

NEW DELHI : Bank accounts of more than 200 employees of New Delhi Municipal Corporation (NDMC) were allegedly hacked and money siphoned off in the first week of February, police said on Friday.   Though police have received only two complaints of online fraud from the...