Finance News

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 ...

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 ...

Rupee gains 5 paise to 81.97 against US dollar on foreign fund inflows The rupee was trading at 81.97 against the US dollar at 9.35 am, registering a gain of 5 paise over the previous close of 82.02. (Photo: Pexels) The rupee strengthened by 5 paise to 81.97 against the US dollar in early trade on Wednesday on foreign ...

Housing sales hit new peak of 115,000 in Q2 Despite spiralling home loan rates in recent past and global economic headwinds including layoffs by several large and small corporates, the bull run in the Indian housing market has not ended yet.  Quarterly housing sales are at an all-time high with approximately 1,15,100 units sold in the second quarter ...

Only 3 unicorns this year, 20% startups downgraded India’s most valuable startups are having a tough time holding on to their value amidst greater regulatory scrutiny and a funding winter.  At least 20% of startups in the list of ‘future unicorns’ dropped off the list or got downgraded, according to the  ASK Private Wealth Hurun India Future Unicorn Index ...

Rate hikes revealed hidden stresses of banking sector: Chandrasekaran The rise in interest rates has revealed hidden stresses in parts of the banking sector and this could impact global growth in the coming year, according to Tata Group and Tata Motors Chairman N Chandrasekaran. In his address to shareholders of Tata Motors in the annual report for 2022-23, ...

RuPay cardholders will be able to access airport lounges in major cities Priority Pass Access India has partnered with the National Payments Corporation of India, offering airport lounge access to RuPay card holders Through this partnership, eligible RuPay cardholders in India will now have the opportunity to access over 50 premium lounges and airport experiences in major cities across ...

RBI relaxes restrictions on HDFC Credila over on-boarding of new customers Housing Development Finance Corporation (HDFC) on Tuesday said the Reserve Bank of India has relaxed restrictions on its education finance arm, HDFC Credila, related to the addition of new customers.   The restrictions were eased after the company met RBI’s condition that the application for change in ...

CreditAccess Grameen syndicates social loan facility of up to $200 mn CreditAccess Grameen, Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), on Tuesday said it has signed a historic syndicated social loan facility of up to $200 million (about Rs 1,640 crore). This will qualify as External Commercial Borrowing (ECB) under the automatic route of the RBI, the company said ...