Finance News

Health insurance premium drive growth of non-life insurance industry In the first half of financial year 2023, the health insurance segment had registered a growth of 18.92 per cent from the year-ago period

Fund review: SBI Magnum Income Fund Fund review: SBI Magnum Income Fund

RBI's $5 billion USD/INR swap expiry fuels dollar shortage concern The Reserve Bank of India (RBI) had conducted a $5 billion sell/buy dollar/rupee swap last year. Under this swap, the RBI sold $5 billion to banks on April 28, 2022

Large banks preparing for maturity of RBI's $5 billion forex swap The $5 billion dollar/rupee swap that the Reserve Bank of India undertook in April 2022 will mature on Monday, meaning $5 billion can potentially be taken out of the banking system

RBI revises its KYC rules to strengthen money laundering prevention The revised norms clarify the standing of principal officers (PO) in regulated entities (RE) who are responsible for furnishing information

Adopt risk-based approach for periodic updation of KYC: RBI asks banks The Reserve Bank on Tuesday tightened the customer due diligence (CDD) norms by asking banks and regulated entities to adopt a risk-based approach for periodic updation of KYC. After a review, the central bank has made amendments to the Master Direction (MD) on Know Your Customer (KYC). Regulated Entities ...

IRM Energy collects Rs 160 crore from anchor investors ahead of IPO City gas distribution company IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors ahead of its initial share sale that opens for subscription on Wednesday. The company has decided to allot 31.75 lakh equity shares to 12 funds at Rs 505 ...

DFS secretary Vivek Joshi chairs meet with private insurance companies The insurance companies were asked to encourage adoption of property/parametric covers to mitigate financial losses due to natural catastrophes

Rupee to rely on RBI's intervention amid surging oil prices: Traders Non-deliverable forwards (NDFs) indicate rupee will open at around 83.25-83.26 to the U.S. dollar, barely changed from the previous session

Crypto firms welcome adoption of IMF-FSB's roadmap on crypto assets Investments in resources, technology, and personnel would be necessary to ensure compliance