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Navneet Singal Dec 04 ,2024
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Navneet Singal Oct 26 ,2023
Published In : Taxmann
Navneet Singal Oct 13 ,2023
Published In : TAXMANN
In protection products, commissions initially range between 35% and 40% before tapering off, averaging about 5-6% over time. On top of this, insurers incur about 10% in other expenses. Currently, service tax of around 2% on such costs is offset through input tax credits. If GST exemptions remove that credit, insurers will have to bear the additional expense.
Published on: August 22, 2025
South Indian Bank has introduced SIB Gold Xpress, a new gold loan product designed for quick and easy credit access. Borrowers can unlock up to 90% of their gold's value, with loans ranging from Rs 25,000 to Rs 25 lakh and flexible tenures up to three years.
Published on: August 22, 2025
The RBI's Central Board has approved the nomination of Executive Director Indranil Bhattacharyya as an ex-officio member of the Monetary Policy Committee (MPC). During the 618th meeting, the board reviewed the global and domestic economic environment, including geopolitical developments and financial market challenges. The board also assessed the functioning of select central office departments, board committees, and the Ombudsman Scheme.
Published on: August 22, 2025
Care Edge Ratings reports a significant improvement in Indian banks' asset quality for Q1FY26. Gross NPAs fell to 2.3%, driven by better asset management and recoveries, though microfinance and unsecured loans showed some stress. Despite a slight sequential increase in NPAs, the overall structural improvement is evident, with NNPA ratios at a post-AQR low of 0.5%.
Published on: August 22, 2025
A new report suggests good news for Indian banks. Bad loans are expected to remain low in FY26. Care Ratings reports a 15-year low of 2.3-2.4%. Corporate deleveraging and declining GNPA are helping. The system-level GNPA ratio has already declined. It reached 2.3% in June 2025. However, private sector banks saw a rise in bad loans.
Published on: August 21, 2025
Indian insurance companies are proceeding carefully with new investments. Equity derivatives adoption remains slow despite regulatory approval. Bond forward rate agreements see limited activity. Insurers are developing risk management frameworks and upgrading IT systems. They plan to start with small exposures in equity derivatives. Discussions included gold ETFs and REIT limits. Regulators are urging diversification within existing limits.
Published on: August 21, 2025
DIPAM Secretary Arunish Chawla anticipates the completion of the IDBI stake sale this fiscal year, citing the near completion of due diligence by qualified bidders. The government has already secured Rs 20,000 crore in the first quarter against the Rs 47,000 crore asset monetisation target. Further stake sale in LIC is under consideration by an inter-ministerial group.
Published on: August 21, 2025
Tax experts suggest that the proposed GST exemption on individual health and life insurance policies would primarily benefit term and health insurance plans. They also recommend exempting key input services like commission and reinsurance to prevent input tax credit blockage.
Published on: August 21, 2025
Banking, Financial Services and Insurance Global Capability Centres in Mumbai face talent shortage. A report by Quess Corp projects the sector to reach USD 125-135 billion by 2032. There is a 42 percent skill gap in AI and data. Tier II cities like Jaipur and Kochi are emerging as hiring hubs. Companies are investing in cybersecurity and regulatory technology.
Published on: August 21, 2025
Just before Ganesh Chaturthi, bank credit grew faster than deposits. RBI data shows credit growth at 10.22% and deposit growth at 10.05%. Last year, credit growth was higher at 13.7%. Bankers anticipate stronger credit growth in the second quarter, driven by festive demand. Deposit growth is slow due to repricing and alternative investments.
Published on: August 21, 2025
Bank-fintech collaborations are enhancing pricing and risk underwriting accuracy, particularly for non-prime borrowers, according to Julapa Jagtiani. Marina Niessner highlighted the significant influence of financial social media on investment decisions, while cautioning about the risks of misleading content. Prof. Raghavendra Rau critically evaluated AI models, emphasizing their potential for errors in financial judgments due to a lack of genuine understanding.
Published on: August 21, 2025
India's Banking, Financial Services, and Insurance sector is poised for significant expansion. Hiring is expected to increase substantially in the coming years. Nearly 2.5 lakh permanent positions will be created by 2030. Demand is growing in tier II and III cities. This shift is away from metro-centric recruitment. Companies are seeking candidates with local language skills.
Published on: August 21, 2025
A parliamentary panel has suggested standardised cancer diagnostic packages under government insurance to broaden inclusion. It has advocated extending price caps to cancer vaccines and immunotherapy, promoting public-private partnerships for advanced hospitals, and establishing screening centers.
Published on: August 21, 2025
Indian microfinance companies are focusing on cleaning up their balance sheets. They are writing off bad loans earlier to improve their financial health. CreditAccess Grameen, Fusion Finance, and Muthoot Microfin are among the companies adopting this strategy. Fusion Finance has even revised its write-off policy.
Published on: August 20, 2025
The finance ministry convened a meeting with public sector bank heads to assess their Q1 FY26 financial performance, revealing a collective record profit of Rs 44,218 crore, marking an 11% year-on-year increase. SBI contributed significantly, while IOB and Punjab & Sind Bank showed substantial profit growth. The ministry urged banks to boost lending to productive sectors.
Published on: August 20, 2025
IndusInd Bank addresses legacy issues in treasury and microfinance following past frauds, reporting a net profit of Rs 604 crore this quarter. The bank is reinforcing trust and compliance, focusing on sustainable growth in vehicle finance and retailisation. Rajiv Anand has been appointed as MD and CEO, effective August 25, 2025, to lead the bank.
Published on: August 20, 2025
An investigation into loan irregularities at the Andaman and Nicobar State Cooperative Bank implicates Congress leader Kuldeep Rai Sharma. Loans exceeding ₹500 crore were sanctioned with insufficient collateral, forged property valuations, and missing documents. Several arrests have been made, including Sharma and bank officials, as the Enforcement Directorate investigates the fraudulent activities.
Published on: August 20, 2025
Centricity WealthTech aims to double its AUM to Rs 20,000 crore by March 2026. To achieve this ambitious goal, the company has hired 30 senior private bankers to cater to High Networth Individuals and Ultra HNIs. This expansion strategy includes deepening its presence across India's top 70 cities, leveraging its 'INVICTUS' platform for Ultra HNIs and single-family offices.
Published on: August 20, 2025
CreditAccess Grameen's stock has surged following the appointment of a new CEO and strategic initiatives. The company is addressing asset quality concerns through accelerated write-offs, expecting normalization by the December quarter. Expansion plans include opening 200 branches, with a focus on retail financing to drive future growth and profitability, anticipating improved credit growth in the fiscal year's second half.
Published on: August 19, 2025
Housing finance companies face challenges. Public sector banks aggressively price mortgage rates. This squeezes HFC margins. Loan disbursals grow, but AUM doesn't keep pace. Borrowers are shifting loans. Bajaj Housing Finance saw a profit decline. LIC Housing Finance also feels the rate war. Competition is intense, impacting even large players. Margin pressure is expected to continue for a while.
Published on: August 19, 2025
The National Housing Bank is intensifying its scrutiny of housing finance companies due to breaches in loan-to-value regulations, particularly for high-value home loans exceeding ₹75 lakh. Lenders are found to be disbursing loans up to 90% LTV, violating the stipulated 75% cap.
Published on: August 19, 2025
The government is urging private sector banks to increase their involvement in key financial inclusion initiatives like Jan Suraksha and SLBCs. Concerns have been raised about the insufficient engagement of some private banks, hindering the effectiveness of these programs. The government is emphasizing the need for faster claim settlements and improved banking infrastructure in rural areas and the Northeast.
Published on: August 19, 2025
Since its launch in April 2016, the Stand-Up India Scheme has facilitated Rs 62,791 crore in loans to 2,75,291 accounts, promoting entrepreneurship among SC/ST and women. Additionally, Rs 17,811.72 crore has been disbursed under the Modified Interest Subvention Scheme for short-term crop loans in 2024-25. The RBI regulates Peer-to-Peer lending to ensure fair practices and borrower protection.
Published on: August 19, 2025
Pantomath Group has invested Rupees 460 crore in Amnex Infotechnologies. Wealth Company Asset Management made the investment through Bharat Value Fund. Amnex, founded in 2008, offers technology solutions across various sectors. The company has shown strong growth with a 75% CAGR over three years. Amnex aims to innovate digital infrastructure for a more inclusive future.
Published on: August 19, 2025
Investor demand for State Development Loans (SDLs) remained weak for the seventh straight week, with muted interest reflected in a lower bid-to-cover ratio and a sharp rise in cut-off yields. In contrast, central government securities (G-secs), particularly the new 30-year tenor, saw stronger demand. SDLs raised ₹3.33 trillion this fiscal year, up 31% year-on-year.
Published on: August 19, 2025
Credila, formerly HDFC Credila, plans to secure up to $600 million in foreign loans post-IPO. Discussions involve DBS, MUFG, and SMBC. The funds will be raised via external commercial borrowing. The loan is marketed at 135-150 bps over SOFR. Credila's financing base has expanded significantly. Offshore borrowings now constitute 18.4% of its total debt.
Published on: August 18, 2025
Banks significantly increased lending for IPO investments last fiscal year. State Bank of India's IPO financing tripled. HDFC Bank leads with the largest loan book, followed by Bank of India. Sixteen banks provided substantial loans for IPO financing. The Reserve Bank of India anticipates continued momentum in primary markets. IPOs are gaining traction as a popular investment avenue.
Published on: August 18, 2025
Borrowing by vulnerable economic groups is changing. The number of borrowers with many lenders decreased significantly. This reflects stricter lending practices. Data shows a drop in borrowers using more than three lenders. However, some older loans still pose a risk. The microfinance sector is now focusing on stability. The market size has contracted.
Published on: August 18, 2025
Mumbai Police's EOW filed a charge sheet against Rashmi Saluja and three others, alleging irregularities in Care Health Insurance's ESOP allotment. The dispute, linked to a takeover bid by the Burmans, involves accusations of misusing ESOPs and orchestrating a police complaint. Saluja denies the allegations, questioning the basis and legality of the charges.
Published on: August 18, 2025
The Supreme Court has denied Dheeraj Wadhawan's request for more time to surrender. He is accused in a major bank loan fraud. The court had previously cancelled his medical bail. Wadhawan must now surrender. However, the court has directed the CBI and jail authorities to ensure he receives regular medical checkups at AIIMS.
Published on: August 18, 2025
The NCLT Mumbai has declared Kapil Wadhawan, the former chairman of DHFL, bankrupt following a petition by Union Bank of India to recover ₹4,546 crore. This order was issued after Wadhawan failed to submit a repayment plan. Sanjay Kumar Mishra has been appointed as bankruptcy trustee to manage the distribution of Wadhawan's estate.
Published on: August 18, 2025
Jana Small Finance Bank has reinforced its leadership by appointing Asheesh Maroo as chief credit officer and Rajesh Sharma as chief operating officer, bringing extensive experience from YES Bank, ICICI Bank, HDFC Bank and Corporation Bank. Meanwhile, Ganesh Nagarajan, the bank's chief operations officer, has resigned due to family health reasons and will be relieved on November 17.
Published on: August 18, 2025
Life Insurance Corporation of India (LIC) has announced a special revival campaign for individual lapsed policies, starting August 18 and lasting until October 17, 2025. This initiative offers concessions on late fees for non-linked policies, up to 30% with a maximum of Rs 5,000, and a complete waiver for Micro Insurance Policies.
Published on: August 18, 2025
Nearly a quarter of the 56.04 crore Pradhan Mantri Jan Dhan Yojana accounts are currently inactive, according to Minister Pankaj Chaudhary. Uttar Pradesh leads with 2.75 crore inoperative accounts, followed by Bihar and Madhya Pradesh. The government is undertaking measures to reactivate these accounts, including a nationwide campaign focused on Re-KYC.
Published on: August 18, 2025
The government plans to reduce GST on insurance premiums from 18% to 5% or even zero, as part of the upcoming GST 2.0 reforms aimed at simplifying the tax system and easing the burden on consumers and businesses. Insurance stocks rose up to 5% on the news. The new GST structure will feature two main slabs—5% and 18%—and a special 40% slab for luxury and sin goods like alcohol and tobacco, replacing current 12% and 28% rates.
Published on: August 18, 2025
Indian banks are proactively implementing measures to mitigate the impact of the impending 50% US tariff on Indian exports. These measures include temporary interest concessions, flexible repayment options, and increased working capital to ease cash flow pressures for exporters. Banks are also advising exporters on diversification strategies and monitoring sector-specific stress, particularly in textiles, auto components, and other affected industries.
Published on: August 18, 2025
UPI transactions in India have surged in 2025, reflecting a significant expansion in both value and volume. Average daily transaction values climbed steadily, reaching Rs 90,446 crore in August, while transaction volumes hit 675 million. Maharashtra leads state-wise UPI adoption, indicating a widespread shift towards digital payments across the nation.
Published on: August 18, 2025
India's microfinance sector is navigating a pivotal transformation as lenders shift their focus to sustainable growth and portfolio security. The gross loan portfolio is witnessing a contraction, with financial institutions opting to streamline their lending by offering fewer smaller loans and concentrating on larger sums for borrowers with a proven track record of repayment.
Published on: August 18, 2025
While overall consumption shows signs of fatigue, affordable housing finance companies are experiencing robust growth, outpacing larger peers. Smaller lenders, focusing on smaller towns, have seen asset expansions ranging from 16% to 34%. This performance stands out due to the relative price inelasticity associated with affordable home buyers, signaling potential demand revival.
Published on: August 18, 2025
A State Bank of India report suggests India requires a domestic UPI application. This app will help leverage data and reduce dependence on foreign platforms. Currently, PhonePe leads in UPI transactions, followed by Google Pay and Paytm. The report highlights that concentrating transactions among a few apps may hinder India-centric fintech innovation.
Published on: August 18, 2025
Indian non-bank lenders significantly increased overseas syndicated loan borrowing. They raised $3.67 billion in 2025, more than double 2024's $1.64 billion. Cheaper pricing and favorable tax policies drove this surge. More overseas banks are now willing to lend to Indian companies. HSBC's Chetan Joshi notes better pricing and diversification of funding sources as key factors.
Published on: August 17, 2025
Asset reconstruction companies significantly increased their acquisition of retail loan portfolios in the first quarter of FY26, with security receipts issuance rising to ₹1,713 crore. This surge in retail SR issuance partially offset a decline in corporate SR issuance, which fell to ₹2,675 crore. Overall SR issuance grew, but redemptions outpaced it, leading to a contraction in outstanding SRs.
Published on: August 17, 2025
The revised accounting policy helped Sammaan Capital's report ?661.6 crore gains. In contrast, Axis Bank, which tightened its policy, made additional provisioning of ?614 crore, impacting its earnings. Bandhan Bank implemented procedural changes in the collection of dues, which led to marginal rise in stressed loans, although it did not immediately impact its earnings.
Published on: August 17, 2025
Fusion Finance has strengthened its leadership team with key appointments. Rajeev Sardana, a veteran with 30 years of retail lending experience at HDFC, joins the board as an independent director. Sanjay Garyali, the current CEO, has been appointed as a whole-time director for five years, a move approved by the Reserve Bank of India.
Published on: August 17, 2025
Economist Jeffrey Sachs has strongly criticized the US administration's tariffs on India, calling them a pressure tactic and "bizarre." He argues that these tariffs undermine US-India relations and violate international law. Sachs suggests India should focus on partnerships with BRICS nations, who advocate for a multipolar world, while navigating the US trade policies.
Published on: August 16, 2025
State Bank of India and Union Bank of India have increased home loan rates, signaling a potential shift towards higher interest rates in the market, particularly affecting borrowers with lower credit scores. This move comes amid concerns over low-profit margins and increased competition, with private lenders expressing reservations about aggressive pricing strategies employed by public sector banks.
Published on: August 15, 2025
Prime Minister Modi announced on Independence Day that India's UPI handles 50% of global real-time transactions, calling it a 'wonder'. With 1,947 crore transactions processed in July 2025 alone, UPI is now operational in seven countries, including France, marking its European debut.
Published on: August 15, 2025
S&P Global Ratings upgraded the ratings of ten Indian financial institutions, including SBI and HDFC Bank, following an upgrade to India's sovereign credit rating. The improved ratings reflect expectations of continued economic growth, enhanced capitalization, and reduced credit risk within the Indian banking sector. The insolvency and bankruptcy code has also improved the payment culture.
Published on: August 15, 2025
Indian Overseas Bank has partnered with Mumbai Metro One to provide ticketing solutions, including smart cards, paper tickets, and QR-based options, for commuters on the Versova-Andheri-Ghatkopar line. This collaboration aims to enhance convenience for the 4,50,000 daily riders and promote digital payment adoption within Mumbai's public transportation system by integrating with Mumbai Metro's ticketing APIs.
Published on: August 14, 2025
AU Small Finance Bank, poised to become a Universal Bank, is set to inaugurate 51 new branches across India on August 15, 2025, marking the 79th Independence Day. This expansion includes both liability and MFIB branches strategically located in high-potential regions. The new branches will offer comprehensive financial services and specialized support for micro-enterprises.
Published on: August 14, 2025
