Bajaj Allianz AI Bot ‘Insurance Samjho’ Simplifies Insurance
Insurance is a complex subject that often confuses customers with its jargon and fine print. Many policyholders are not aware of the details of their coverage, exclusions, and procedures, which can lead to dissatisfaction and disputes during claim settlement. To address this challenge, Bajaj Allianz General Insurance has launched a Gen AI-powered bot called ‘Insurance […]
HSBC Premier Introduces New Service at Mumbai Airport
HSBC Premier, the premium banking service from HSBC, has launched a new service for its customers at the Mumbai airport. The service offers six complimentary airport assist services (four domestic and two international) till June 30, 2024. The service aims to provide a hassle-free travel experience for HSBC Premier customers at Terminal 2 of Mumbai’s […]
CCI New Penalty Rules: Based on Company Income, Turnover
The Competition Commission of India (CCI) has issued new guidelines for imposing penalties on companies that violate the competition law. The guidelines, which came into effect from March 6, 2024, allow the CCI to base the penalties on the average turnover or income of the company derived from all products and services, and not just […]
SBI Criticised by Bank Federation Over Electoral Bonds Delay
The State Bank of India (SBI) is facing criticism from various quarters for seeking more time from the Supreme Court to disclose the details of electoral bonds purchased and redeemed by political parties since April 12, 2019. The apex court had struck down the Centre’s Electoral Bonds Scheme as unconstitutional on February 15, 2024, and […]
RBI Directs Banks to Offer Multi-Network Card Choices
The Reserve Bank of India (RBI) has issued new guidelines for credit card issuers, aimed at providing more flexibility and options for customers. The central bank has mandated that card issuers must allow their eligible customers to choose from multiple card networks at the time of card issuance or renewal. This will enable customers to […]
IIFL Finance Gets $200 mn Boost from Fairfax After RBI Ban
IIFL Finance, one of India’s leading non-banking finance companies (NBFCs), has received a major boost from its top shareholder Fairfax India, which has committed to provide up to $200 million in liquidity support to the company. This comes after the Reserve Bank of India (RBI) imposed an embargo on the company’s gold loan disbursements, effective […]
JM Financial: ‘No Deficiencies in Loan Sanctioning’ Post RBI Curbs
JM Financial Products Ltd, a non-banking financial company (NBFC) and a subsidiary of JM Financial Group, has issued a statement claiming that there have been no material deficiencies in its loan sanctioning process, after the Reserve Bank of India (RBI) imposed restrictions on its financing activities on Tuesday. RBI curbs on JM Financial The RBI […]
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 […]
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 […]