Irdai asks SBI Life to acquire Sahara India’s Life Insurance business Regulator Irdai on Friday directed SBI Life Insurance Company to take over the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co. Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development ...

A snapshot of new car loan offered by various firms with other details SBI personal banking loan book up Rs-5 trn mark, helped by digital push How have the home loan EMIs changed since RBI’s repo rate hike in May 2022? Chinese EV brands expand to global markets as they offer lower prices Fixed or floating rate? Choose floating-rate car ...

SBI Life to take over 200,000 policies of Sahara India Life Insurance The Insurance Regulatory & Development Authority of India (Irdai) has identified SBI Life Insurance to take over liabilities of about 200,000 policies of Sahara India Life Insurance (SILIC) as the latter failed to comply with regulatory directions, amid deteriorating financial health after being put under restrictions in ...

RBI imposes Rs 2.2 crore penalty on Indian Overseas Bank for non-compliance Reserve Bank on Friday imposed a penalty of Rs 2.20 crore on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance. The fine is imposed for contravention of the provisions of certain directions issued by RBI on ‘Prudential Norms ...

RBI announces draft cyber security norms for payment system operators In a move to ensure safety and security of digital payments amid emerging cyber risks, the Reserve Bank of India (RBI) on Friday announced draft regulations for payment system operators (PSOs). It proposed that such norms would be implemented from April 1, 2024, for large non-bank-PSOs. For medium-sized non-bank ...

BRICS pitches for using local currencies in international transactions The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, ...

Deposits shrink Rs 59,623 cr, credit down Rs 6k cr in May 19 fortnight Bank credit and deposits shrunk in the fortnight ended May 19, reflecting lower business volumes at the start of the new fiscal year. While deposits declined by Rs 59,623 crore to Rs 183.74 trillion at the end of the fortnight, credit shrunk by Rs 6,181 crore ...

Common mistakes you should avoid while filing your ITR The last date to file your income tax return (ITR) for FY 2022-23 (AY 2023-24) is getting near on July 31, 2023. While most individual taxpayers file their tax returns on their own, understanding the complex laws of income tax can prove to be a deterrent in filing the return.  Depending ...

Link your PAN and Aadhaar by June 30: Here's all you need to know PAN is essential when it comes to filling tax returns and making investments in mutual funds and stocks, here how to ensure your cards are linked

Goldman Sachs bets on RBI pausing repo rate again on June 8 meeting Forecasting a steeper fall in inflation to the tune of 50 bps lower than previously projected, a Wall Street brokerage sees the central bank leaving the policy rates unchanged at 6.5 per cent in the forthcoming review on June 8. Analysts at Goldman Sachs India ...