Deposit claims worth Rs 752 cr settled in FY23: Financial Stability Report Deposit Insurance and Credit Guarantee Corporation (DICGC) settled claims of Rs 751.8 crore during FY23. In FY22, the corporation had settled aggregate claims of Rs 8,516.6 crore under different channels. Of this, the largest, of Rs 3,791.6 crore, was to Unity Small Finance Bank (USFB) for ...

Avg health insurance claims in India Rs 42,000; 15% cross Rs 1 lakh: Report The average cost of health insurance claims in India is Rs 42,000, with 15 per cent of these claims exceeding Rs 1 lakh, a report said.  This highlights the need for policyholders and insurance providers to consider potential high-cost scenarios, such as hospitalizations exceeding ...

Retail loans grow 2x gross advances from FY21-23, says RBI report With banks focusing more on retail loans these past few years, such loans have grown at a faster pace than the overall loan growth between March 2021 and March 2023, observed the Reserve Bank of India’s latest edition of the Financial Stability Report released on Wednesday. Retail ...

Three key changes to keep in mind while filing your return| FY 2022-23 The Income Tax Return (ITR) filing season is approaching and many taxpayers are preparing to file their returns for the financial year ending 2022-23 (FY23). There have been a few changes made to the ITR forms this year (compared to last year) that taxpayers should be ...

GNPAs fall to decadal best of 3.9% in March; set to improve further: RBI The Indian banking system’s asset quality strengthened to a decadal best, with the gross non-performing assets ratio falling to 3.9 per cent as of March 2023, the Reserve Bank said on Wednesday. GNPAs of the scheduled commercial banks are expected to improve further to ...

RTP Global closes $1bn fund, will make third of investments in India RTP Global, an early-stage venture capital firm, announced on Wednesday the close of its latest fund that has a corpus of $1 billion and will make a third of its investments in India. RTP IV is part of the company’s strategy of investing globally in founders ...

India’s average health insurance claim is Rs 42,000; 15% exceed Rs 100,000 The average cost of health insurance claims in India is Rs 42,000, with 15% of these claims exceeding Rs 100,000, revealed a study by a research report by SecureNow, a Delhi-based insurance broker.  Just 0.2 percent were for amounts greater than Rs 1 million, while 85 per cent ...

Despite high medical inflation only 15% of Indians made health insurance reimbursement claims above Rs 1 lakh [ad_1] The moment of truth as it is known in insurance is when you have to make the claim against insurance for which you have been paying regular premiums. When it comes to health insurance, which often plays the role of a life ...

ITC can’t be denied under GST even when post-supply discounts received: AAR Input tax credit would not be denied under the goods and services tax (GST) system even when a company receives post-supply discounts, provided the entire tax liability is paid, the authority for advance rulings (AAR) in Andhra Pradesh has ruled. Vedmutha Electricals, a distributor of electronic goods, ...

7 IPOs this week but don’t make these 10 mistakes in pursuit of gains The IPO market is buzzing this week as seven public issues will hit the markets, with three being the mainstream ones and four in the SME space.   Ideaforge opened  for subscription on June 26. The offer is available for the public to bid till June ...