General Insurance Council’s Campaign for Cashless Hospitalisation
The General Insurance Council, the representative body of non-life and health insurance companies in India, has launched a campaign called ‘Cashless Everywhere’ on January 24, 2024. The campaign aims to provide cashless hospitalisation to policyholders even in non-empanelled hospitals across the country. This is expected to ease the financial burden of policyholders, increase their choice […]
RBI’s Cybersecurity Talk with Urban Co-op Banks
The Reserve Bank of India (RBI) convened a conference in Hyderabad on January 24, 2024, bringing together Directors from select Urban Co-operative Banks (UCBs) of the Southern Zone. The conference aimed to address the escalating challenges of cybersecurity faced by UCBs and to enhance their resilience against cyber threats. Governance in UCBs The conference was […]
Govt. Approves Direct Listing on GIFT IFSC Exchanges
The government has approved the direct listing of securities by public Indian companies on international exchanges of GIFT IFSC, a move that will boost foreign investment flows, unlock growth opportunities and broaden the investor base for Indian companies. The Department of Economic Affairs (DEA) in the Ministry of Finance has amended Foreign Exchange Management (Non-debt […]
Pension Authorities to Ensure 100% Digital Life Certificate Submission
The Department of Pension & Pensioners’ Welfare has launched a nationwide Digital Life Certificate (DLC) Campaign 2.0 from 1st to 30th November, 2023, to facilitate the submission of Jeevan Pramaan by Central Government pensioners. The campaign aims to enhance the ease of living for pensioners and reduce their hardships in obtaining the life certificate. What […]
CCI Approves Merger of Fincare Small Finance Bank with AU Bank
The Competition Commission of India (CCI) has given its nod to the merger of Fincare Small Finance Bank Limited (Fincare) and AU Small Finance Bank Limited (AU), creating one of the largest small finance banks in the country. The merger, which was announced in October 2023, is expected to be completed by March 2024, subject […]
RBI Report: Panchayats Should Reduce Dependence on Grants
The Reserve Bank of India (RBI) has released a report on the finances of Panchayati Raj Institutions (PRIs) on January 24, 2024. The report analyses the revenue and expenditure patterns of PRIs across states and suggests ways to improve their financial autonomy and accountability. Grants are the main source of revenue for PRIs The report […]
Sebi’s Disclosure Norms: No Major Impact on FPIs
Sebi, the market regulator of India, has issued new disclosure norms for foreign portfolio investors (FPIs) that have high exposure to a single corporate group or significant overall holdings in India. The norms are aimed at preventing the circumvention of regulatory requirements such as takeover rules and minimum public shareholding norms by FPIs. However, sources […]
SoftBank Sells Additional 2% Stake in Paytm
SoftBank, the Japanese investment giant, has sold an additional 2% stake in Paytm’s parent company One97 Communications over the last month through open market operations, according to media reports. The investor has reduced its stake in the fintech giant from 13.24% at the beginning of FY24 to just a little over 5%, earning about Rs […]
Tata Capital’s Foray into Higher Education Loan Market
Tata Capital, the flagship financial services company of the Tata Group, has launched a new product in the education loan segment. The company aims to provide financial support to students who want to pursue higher education in India or abroad. The company offers collateral-free loans up to Rs 75 lakhs and secured loans up to […]
SBI Life Debuts Term Plans with Life Protection, Premium Returns
SBI Life Insurance has launched two new term plans that offer life protection and premium returns. These plans are Saral Swadhan Supreme and Smart Swadhan Supreme. They are designed to cater to the evolving needs of customers who want to secure their financial future and fulfil their commitments. The new term plans provide a lump […]