Finance News

IRDAI asks insurers to suo motu settle claims of Odisha rail mishap victims The Insurance Regulatory and Development Authority of India (Irdai) has asked the insurance companies to undertake “suo motu” settlement of claims for the victims of the Odisha train tragedy, The Economic Times (ET) reported on Monday. The insurers have been asked to “immediately” contact the administration and ...

RBI may maintain pause on interest rate as inflation declines: Experts The Reserve Bank of India (RBI) will maintain the policy repo rate at 6.5 per cent during its upcoming June 8 announcement, considering the easing of retail inflation in April and the potential for further decline, indicating the effectiveness of previous policy rate actions, anticipate experts. Headed ...

RBI-MPC may lower inflation forecast marginally: BoB Chief Economist The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) may lower the inflation forecast marginally and will not change the repo rate at the upcoming meeting owing to inflation being down and increased liquidity, said a top economist in Bank of Baroda. “The MPC will not change the ...

Not a merger with Sahara Life, just transfer of policyholders: SBI Life SBI Life, a subsidiary of country’s biggest lender State Bank of India (SBI), has said it is not a merger between the two companies but only a transfer of the policyholder related assets and liabilities of Sahara Life Insurance. On Friday regulator Irdai directed SBI Life ...

How you can minimise the impact of 20% TCS on foreign trips Your international trips are about to get a tad more expensive and cumbersome from July as every dollar now spent abroad will incur a 20 per cent tax collected at source (TCS). International credit cards will no longer be exempted from this regulation. While you can claim a ...

RBI releases draft on cyber resilience, digital payment security controls According to the RBI’s release, the central bank has invited feedback from the shareholders on the same

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 ...