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Meanwhile the central bank said the health of the banking system has improved with the gross non-performing loan ratio remaining stable at 9.1 per cent as of September-end, the same level as in FY19.
Banks see 74 per cent rise in frauds
FALAKNAAZ SYED
25 Dec 2019 4:44 AM

The number of fraud cases reported by lenders also jumped to 6,801 in 2018-19, compared to 5,916 cases in 2017-18.

The IRDAI in an order on Tuesday said that Cardif on March 29, 2019 sold 5.069 per cent of SBI Life’s total shareholding, by way of on-market transaction without taking prior approval of the regulator which was a violation of extant rules.
IRDAI rebukes Cardif for selling stake in SBI Life without its nod
FALAKNAAZ SYED
25 Dec 2019 4:43 AM

However the regulator abstained from penalising the foreign insurer.

United Bank of India and Oriental Bank of Commerce will be merged with PNB, making the merged entity the second-largest public sector bank.
PNB stock falls after bonds put on rating watch
FALAKNAAZ SYED
19 Dec 2019 5:25 AM

There has been significant progress on the amalgamation including approvals from the Boards of the banks.

An entity holding over 10 per cent in an insurance company is categorised as a promoter while one holding below that limit is termed as an investor. (Photo: ANI)
PSBs may get nod to hold over 10 per cent in two insurers
FALAKNAAZ SYED
07 Dec 2019 2:28 AM

Breather for public sector banks post-amalgamation.

“If DHFL goes under liquidation, it will be sold and someone else will take over. Insurance companies are also part of the inter-creditor agreement. So they will also get proceeds that are available on sale of the company,” said Khuntia. He also said the insurance subsidiaries of DHFL—DHFL Pramerica Life Insurance and DHFL General Insurance—have adequate solvency and that there is no cause for concern.
Write off DHFL exposure
FALAKNAAZ SYED
07 Dec 2019 2:28 AM

Like in IL&FS, a similar procedure will have to be followed: Khuntia

Reserve Bank of India (RBI)
NBFCs, MFIs & co-ops can now become SFBs
FALAKNAAZ SYED
06 Dec 2019 1:52 AM

The minimum paid-up voting equity capital or net worth requirement has been set at Rs 200 crore, up from Rs 100 crore as set earlier.

PNB holds around 30 per cent stake in PNB MetLife India Insurance as a promoter and OBC holds 23 per cent stake in insurance joint venture—Canara HSBC Oriental Bank of Commerce Life Insurance Company. Following the merger, which will come into effect from April 1, 2020, PNB will take over OBC and United Bank.
Public sector banks told to outline insurance JVs’ future
FALAKNAAZ SYED
03 Dec 2019 1:54 AM

Banks will have to take a call and then come to the regulator with a road map on what they want to do: official.

Finance Minister Nirmala Sitharaman
Call to exempt banks from deposit cover
FALAKNAAZ SYED
19 Nov 2019 2:04 AM

AIBEA says banks waste a huge sum on this.

The overall capitalisation levels of SFBs remained comfortable supported by capital infusion of approximately Rs 2,700 crore in FY19 compared to Rs 890 crore in FY18.
SFBs would need nearly Rs 3,900 crore till FY22: ICRA
FALAKNAAZ SYED
12 Nov 2019 1:33 AM

SFBs have made good progress on deposit mobilisation.

If you follow the wellness regime, you could get be rewarded with discounts on premium or an increase in the sum insured at the time of renewing your policy.
Health insurers may offer you fitness goodies
FALAKNAAZ SYED
09 Nov 2019 1:37 AM

Insurers will not be allowed to promote products or services of any particular third party service provider.


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