NBFCs begin provisioning for AIF exposure after RBI tightens norms Piramal to adjust Rs 3,164 cr; IIFL Finance sees Rs 161 cr impact

insurance industry: Surrender fee: Insurers propose dual structure as regulator pitches for a hike [ad_1] Mumbai: The life insurance industry is proposing a dual structure in response to the regulator’s pitch for an increase in the surrender value for non-participating policies, said people with knowledge of the matter. The insurers have suggested a higher surrender value for short-term policies while ...

Bank ordered to pay Rs 10 lakh to customer for loss of jewellery from bank locker [ad_1] The National Consumer Disputes Redressal Commission (NCDRC) has held the UCO Bank responsible for not taking appropriate measures to ensure the safety of goods kept in the lockers by customers. The bank has been ordered to compensate a customer for jewelry worth Rs ...

IFSCA forms committee on transition finance to formulate framework The committee has been tasked to assess the trends in the segment and identify the best practices for transition finance in India by 2047

Centre asks state-run banks to review top 20 insolvency cases monthly The government has asked for reviews of insolvency cases as there are delays in admission of cases in insolvency courts

Higher surrender value to badly hit life insurers margins: Report The recent regulatory push to increase the surrender value of a life policy through the revised concept of threshold limit and adjusted guaranteed surrender value for all non-linked policies, if implemented, will hit the margins of the insurers, warns a report. The Insurance Regulatory and Development Authority (Irdai) earlier this ...

​Canara Bank to pay Rs 9 lakh as compensation to NRI for deficiency in services: NCDRC [ad_1] Canara Bank is liable to pay Rs 9.09 lakh as compensation to a 95-year-old non-resident Indian (NRI) customer. Canara Bank has to pay the compensation amount because it did not provide good services and indulged in unfair trade practices. The payment of compensation ...

RBI announces 7-day repo, raises quantum in comparision to last week India’s central bank will conduct a variable rate repo (VRR) auction for a second straight week on Dec. 22, this time with a higher quantum of infusion

Don’t have Aadhaar? Go for passport-like verification first [ad_1] (This story originally appeared in on Dec 21, 2023) LUCKNOW: A passport like mandatory verification will have to be carried out for Aadhaar card from now on. This, because the state government, and not Unique Identification Authority of India (UIDAI), will henceforth conduct verification for the complete enrollment in Aadhaar. “From ...

Employer sponsored health insurance cost to rise 11% in 2024: Report The report is based on responses from 223 insurers across 58 countries, analysing the key trends that are shaping the future of health care provided by employers