Indian

Budget may provide Rs 4,000-4.500 cr capital infusion for 3 ailing PSU general insurers

Jan 27, 2019

According to sources, the Department of Financial Services sought Rs 4,000 crore in the Budget for fund infusion in three insurance companies — National Insurance Company, Oriental Insurance Company and United India Insurance Company.

SBI Gen profit at Rs 89 cr, up 53%, records u/w profit of Rs 49 cr in Q3 FY 2018-19

Jan 25, 2019

With a valuation of Rs 12,000 crore at the end of Q2 FY 2018-19, the company’s share price has gone up to Rs 84 in Q3 2018-19 from Rs 60 in Q2 2018-19.,
SBI General is planning to float an IPO during the fourth quarter of FY 2019-20

IRDA to issue new norms on the use of Aadhaar Card for eKYC

Jan 24, 2019

“On the basis of our consultation with the (UDAI, we will allow the use of Aadhar Card as long as the insurer mask the 12 digit no and only use the QR code. We will issue new guidelines on the issue soon ,’’said senior official of the IRDAI

LIC can continue its ownership of IDBI Federal Life Insurance for the time being:IRDAI

Jan 24, 2019

“LIC, with its higher stake in IDBI Bank, is still an investor and not a promoter of the Bank as we will ask LIC to lower its stake in IDBI Bank from 51 per cent. We haven’t decided how much time we would allow LIC to lower its stake in IDBI Bank.,’’ said Nilesh Sathe, member, LIfe, IRDAI

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