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Wednesday, December 11, 2019

George Mathew

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Irdai planning to launch catastrophe insurance on pilot basis in select states
Sun, Dec 08, 2019

After getting the government approval, the regulator will launch the cat cover in select states as a pilot project, he said.

RBI slashes GDP growth forecast to 5% — deepest cut in a decade
Fri, Dec 06, 2019

Also, as inflation concerns grew, the RBI’s monetary policy committee took a pause, leaving the repo rate — the rate at which RBI lends to commercial banks — untouched at 5.15 per cent for the first time in 10 months.

‘Millennials bought 44 per cent of total policies sold by LIC in current year till October’
Tue, Dec 03, 2019

"If you look at people between 30 and 35 years old another 17 lakh policies. We have sold 44 lakh policies to people below 30 years old, or millennials," says TC Susheel Kumar, Managing Director of Life Insurance Corporation (LIC).

RBI likely to cut rates by 25 bps as growth, credit offtake decline
Mon, Dec 02, 2019

The sharp fall in GDP growth to 4.5 per cent in the September quarter from 5 per cent previously provides enough reason for the RBI to cut the rate, analysts said.

LIC makes over Rs 14,000 crore profit from markets till mid-Nov this fiscal
Sun, Dec 01, 2019

The 30-share Sensex had gained 1,985 points, or 3.82 per cent, during the period under review, enabling the corporation to post good returns. The market value of LIC’s investment as of end-FY19 stood at around Rs 28.7 lakh crore, growing 8.6 per cent on a year-on-year basis.

Banks for speeding up DHFL debt recovery
Sat, Nov 30, 2019

DHFL’s total liabilities are Rs 83,873 crore, as per its draft resolution plan. Of this, it owes banks Rs 27,527 crore, NCD holders (including retail investors, mutual funds and others) Rs 41,431 crore, NHB Rs 2,350 crore and ECBs Rs 2,747 crore. The exposure of banks could be about Rs 38,000 crore.

IRDAI panel suggests telematics motor insurance, ‘named driver’ policy
Wed, Nov 27, 2019

A ‘named driver policy’ as an automobile insurance policy provides coverage only for drivers specifically named on the policy and not for other individuals driving the vehicle.

Explained: How Karvy Stock Broking bypassed Sebi regulations, diverted investors’ money
Tue, Nov 26, 2019

Sebi has moved against Karvy for violating norms, including transferring client shares to itself, and pledging client shares to raise money, which it diverted to its real estate arm.

Rs 15,000 crore of retail investor money stuck in DHFL
Tue, Nov 26, 2019

According to Indian banking laws, secured debt — mainly banks which have given over Rs 38,000 crore loans and NCDs — have the first charge on recovery.

To boost investment, govt should consider reducing highest tax slab for individuals: A Balasubramanian
Mon, Nov 25, 2019

In an interview to the Indian Express, Balasubramanian — who manages assets worth Rs 253,838 crore — said the government should consider reducing the highest tax slab for individuals in order to boost investment.

Banks have Rs 1,415-crore exposure to Karvy Stock Broking
Sun, Nov 24, 2019

Hundreds of investors who have accounts with Karvy and yet to receive money from the firm have complained to Sebi and tweeted about the fraud committed by the broking firm.

DHFL board superseded, RBI initiates bankruptcy process
Thu, Nov 21, 2019

The RBI, which stepped in after the banks and DHFL failed to agree on a resolution plan to bring the firm back on the rails, has appointed R Subramaniakumar, former MD and CEO of Indian Overseas Bank, as the Administrator to run the affairs of the company.

Rs 80,000 crore fall in bad loans for PSBs, pvt banks see NPAs rise by `6,000 crore’
Wed, Nov 20, 2019

The decline in gross NPAs of banks had come after banks reported an 18.9 per cent rise in bad loans to over Rs 10 lakh crore during the second quarter of last year.

Bank deposits: Govt share falls by nearly Rs 4 lakh crore, but corporates post sharp rise
Mon, Nov 18, 2019

While the government sector accounted for as much as 13.5 per cent of the total deposits in March 2018, the share declined to 9.2 per cent in March 2019.

Vodafone-Idea, Airtel losses spook bankers; call for government intervention
Fri, Nov 15, 2019

On Thursday, while Bharti Airtel announced a loss of over Rs 23,045 crore for the quarter ended September 2019, Vodafone Idea announced a record loss of Rs 50,922 crore for the quarter.

Pallav Mohapatra: ‘This slowdown is cyclical, not structural … growth will bounce back in 2020-21’
Mon, Nov 11, 2019

In NBFCs (non-banking financial companies), whatever the crisis that we had seen, that’s over, says Pallav Mohapatra.

Demonetisation three years later: Cash in circulation up 25.6% to record high of 22.57L cr
Sat, Nov 09, 2019

The Rs 4,60,000-crore rise in the currency in the system in the past three years indicates that cash is still ruling the roost in the financial system despite the big push in digital transactions and less cash economy.

Insurers may be allowed to offer OP treatment, gym and yoga membership
Fri, Nov 08, 2019

Insurers should also ensure that service providers of wellness and preventive programmes have an appropriate mechanism to discharge their obligations by offering the agreed services or products.

After US Fed rate cut, FPIs head back to India; October sees highest inflow of FY20
Sun, Nov 03, 2019

The US market is also flying high with the Dow Jones on Friday stopping just short of an all-time high. The S&P 500 and Nasdaq composite scored all-time highs with gains of 1 per cent and 1.1 per cent.

With modified norms now in force, premium for health policies set to rise
Fri, Nov 01, 2019

These changes will enable customers to take more informed decisions while purchasing their insurance cover, they say.

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