Page 10 - Aathira Varier

LIC Housing Finance Q1 results: Net profit down 2% at Rs 1,300 crore

Total disbursements were at Rs 12,915 crore in Q1 FY25, as against Rs 10,856 crore for the corresponding period in FY24

Irdai levies Rs 2 cr penalty on HDFC Life Insurance for violating norms

The regulator cited violations of norms related to policyholders' interests, web aggregators, and insurance distributors

Aditya Birla Capital Q1 FY25 results: Net profit rises 16.7% to Rs 758 cr

The disbursements of Aditya Birla Housing Finance Company grew by 89 per cent Y-o-Y to Rs 3,068 crore in Q1 FY25

Abolish tax on life, health insurance premiums: Gadkari writes to FM

Gadkari said in his letter that he is writing to the finance minister following a memorandum from the Nagpur Divisional Life Insurance Corporation Employees Union

Life Insurers to seek extension on implementing surrender value norms

Revising all the traditional products according to the new surrender value norms and renegotiating terms with the distributors within the timeline is a huge challenge

New India Assurance increases premiums on health insurance by 10%

Amid the surge in medical inflation, other insurance companies are also believed to have increased their health insurance premiums

Draft guidelines may impact banks' existing LCR by upto 300 pps: CRISIL

Last week, RBI proposed to tighten norms related to liquidity coverage ratio by increasing the run-off factor to 5 per cent for retail deposits

State-owned non-life insurers report Rs 7,558 cr net profit in FY24

The government had infused capital worth Rs 17,450 crore in three years from FY20 to FY22 to restore solvency levels to control level

CSB Bank Q1 results: Net profit drops 14% to Rs 113 cr as provisions rise

The provisions for non-performing assets rose 273 per cent to Rs 20 crore from Rs 4 crore in Q1 FY24

Reduction in TDS for life insurance payouts draws mixed reactions

TDS will be reduced from current rate of 5% to 2% from October 1

Ujjivan SFB Q1 FY25 results: Net profit declines 7% to Rs 301 crore

The deposits grew by 22 per cent YoY to Rs 32,514 crore

Net credit card additions down to 2 mn due to seasonal, regulatory factors

Card spend flat at Rs 4.79 trillion but likely to pick up in coming quarters

Federal Bank Q1 results: Net profit increases 18% to Rs 1,010 crore

Net interest income (NII) improved 19 per cent year-on-year to Rs 1,919 crore while other income increased by 25 per cent to Rs 915 crore

SBI Life Q1FY25 results: Net profit increases 34% to Rs 519.5 crore

The company's new business premiums grew by 13 per cent YoY to Rs 7,030 crore in Q1FY25 against Rs 6,210 crore in the year-ago period

Irdai directs Care Health to buy back shares allotted to Rashmi Saluja

Irdai has directed Care Health to cancel and revoke stock options to Saluja which remain unexercised and also ensure that no further grant and/or allotment of options are made to Saluja

Budget 2024 proposes lower TDS for insurance commission, bonus payment

'Rationalisation of TDS from 5% to 2% for payment of insurance commission to individual agents will ensure additional income in the hands of such individuals for payments made by the insurers'

ICICI Prudential Life Q1 results: Net profit rises 8.9% to Rs 225.4 crore

The expenses of the company rose by 32.8 per cent to Rs 198.53 crore in the quarter under review as compared to Rs 149.47 crore in Q1 FY24

Sustaining good times: CEA Nageswaran for more gap between NPA cycles

Advises financial sector to resist temptation to pursue short-term profits at expense of customer

YES Bank Q1 result: Net profit rises 47% to Rs 502 cr as provisions fall

Its provisions declined by 41.2 per cent to Rs 212 crore in Q1 FY25, from Rs 360 crore in the year-ago period. Sequentially, provisions declined from Rs 471 crore in Q4 FY24

Outward remittances fell 16% in May due to increase in TCS: RBI bulletin

Remittances under the scheme stood at $2.42 billion in May 2024