Page 6 - Aathira Varier

Give borrower info until loan cycle or shutdown: RBI to credit institutions

In these cases, the repayment history of these entities' borrowers is not updated, even if they continue to repay or clear their dues

Forensic probe by experts underway on the cyberattack: Star Health

A data breach recently at Star Health's servers reportedly put up for sale on the messaging platform Telegram sensitive data of 31 million customers, amounting to an estimated 7.24 terabytes

RBI proposes beneficiary name verification for RTGS and NEFT transactions

Payment Systems like UPI and IMPS provide a facility to the remitter to verify the name of the receiver before initiating a payment transaction

Lenders not allowed to levy foreclosure charges on MSEs, says RBI

Analysts said that the implementation of the norms will negatively impact the income of these lenders while increasing pre-payment of loans and balance transfers

LIC reduces 1st-year agent payout to 28% after surrender value revision

First insurer to change commission after revision in surrender value norms

Result preview: High Ulip share may weigh on life insurers' Q2 margins

Industry players had previously indicated that their margins will take a hit because of the revised norms

Banks record a higher deposit growth rate in Q2 FY25 than Q1 FY25

Four out of five banks have recorded growth at least 2-3 per cent higher than the pace seen in the quarter ended June 2024

LIC eyes less than 50% stake in standalone health insurance company

State-owned insurer doesn't want operational control but wants to have a say in the management

Trai's whitelisting norms: Majority of banks, insurers in compliance

Mandatory registration of URLs, APKs, OTT links in SMS traffic starts

Favourable biz environment drives firms' credit upgrades in H1FY25

Export-intensive segments vulnerable to global risks, warn rating agencies

Surrender value norms: Life insurers begin rolling out revised bestsellers

Most major life insurance companies have products in excess of 30. It was becoming difficult for the companies to revise all their products, in accordance with regulations by the deadline

SFBs should adopt responsible lending practices: RBI DG Swaminathan

The boards are also expected to ensure a proper succession planning for top management

State-owned banks on apprenticeship spree to strengthen customer services

Banks are hiring apprentices for the first time amid gradual decline in number of employees

Insurance companies enhance tech spending to meet evolving customer needs

Companies' tech spending sees marked rise to meet evolving consumer demands

Credit card spending growth declines on RBI gaze, stress build-up

In FY24, credit card spending grew by 27.8 per cent; in FY23, spending was up 47.5 per cent; and it was 54.1 per cent in FY22

Regulatory scrutiny may dampen credit cards' festive season spirit

Pressure on unsecured lending may weigh on growth in spending through credit card

Life insurance firms to discuss norms on surrender value on Sept 27 meeting

The life insurance companies, through the council, had sought a three-month extension from Irdai on implementing the new norms

Average health insurance claims size rises 11.35% YoY in FY24: ACKO Report

According to the report, men on an average claimed Rs 77,543 while women claimed Rs 69,553 (without maternity)

Organised gold loans offered by banks, NBFCs may top Rs 10 trn by FY25

The gold loan segment has expanded at a compound annual growth rate (CAGR) of 25 per cent between FY20 and FY24, Icra said

Private banks' employee strength grows 2.8 times in over a decade

During this period, the number of state-owned banks has decreased to 12 due to mergers, while the total number of private sector banks stands at 21