IRDAI Considers Raising Policy Surrender Charges
The Insurance Regulatory and Development Authority of India (IRDAI) is planning to increase the surrender charges of life insurance policies, according to a draft product regulation issued in December 2023. The proposal has sparked a debate among the industry players and policyholders, as it could affect the profitability of life insurers and the liquidity of […]
Swiggy Expands Food Delivery to 4 Railway Stations
Swiggy, India’s leading online food delivery platform, has partnered with IRCTC to offer food delivery services to passengers at four railway stations – Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam. This is the first phase of the collaboration, which is expected to extend to 59 more railway stations in the coming weeks. The food delivery service will […]
Tata Power Solar, Union Bank: Financing Solutions Revamped
Tata Power Solar Systems Limited (TPSSL), a leading solar company in India and a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), has renewed and expanded its partnership with Union Bank of India (UBI) to offer easy and affordable financing solutions for residential customers, in line with the Government’s PM Surya Ghar Muft Bijli […]
Digital Gateway: New Govt Initiative for Farmer Finance
The government has launched an online digital gateway named “e-Upaja Kisaan Nidhi” to empower farmers with access to pledge finance against their harvested commodities. This initiative enables farmers to store their agricultural produce with the Warehousing Development and Regulatory Authority (WDRA) and secure post-harvest loans from banks. What is pledge finance? Pledge finance is a […]
IIFL Finance Gold Loans stopped by RBI Over Breaches
The Reserve Bank of India (RBI) has banned IIFL Finance Ltd. from sanctioning or disbursing new gold loans or assigning/securitising/selling any of its existing gold loans with immediate effect. The company can, however, continue to service its current gold loan portfolio through usual collection and recovery processes, the RBI said in a statement on Monday. […]
Fincare and AU Bank Merge with RBI Approval
The Reserve Bank of India (RBI) has given its green light to the first ever merger between two small finance banks (SFBs) in India. Fincare Small Finance Bank (Fincare SFB) and AU Small Finance Bank (AU SFB) will amalgamate from April 1, 2024, creating a banking entity with a network of 2334 branches and a […]
NTPC , NGEL and UPRVUNL: Powering Renewable Energy Parks
NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, India’s largest power producer, has entered into a joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), the state-owned power utility of Uttar Pradesh, to develop renewable power parks and projects in the state. Joint venture agreement details The joint […]