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NEW DELHI, April 7 (Reuters) - India is planning sovereign guarantees to support insurers that provide cover for vessels travelling in the Persian Gulf, as the Middle East war increases the risks to shipping, said government and industry sources familiar with the matter. The plan includes a $1.5 billion sovereign guarantee fund to provide insurers with reinsurance support and liquidity should insurance costs remain high, said one government source. A separate $300 million fund with contributio ...Read More >
Ahmedabad: With a fast-rising presence of IFSC banking units (IBUs) in GIFT IFSC, the size of the banking assets has increased sevenfold in five years, according to data by GIFT City. The country's first International Financial Services Centre at Gujarat International Finance Tec-City (GIFT City) saw banking assets crossing $106.7 billion as of Feb 2026, marking a sevenfold jump from $14 billion in Sep 2020.A key infrastructure boost came with the launch of the foreign currency settlement system ...Read More >
Gandhinagar (Gujarat) [India], April 2 (ANI): GIFT City's insurance and reinsurance ecosystem has witnessed rapid expansion, with premium volumes growing from USD 102 million in 2020 to over USD 1.2 billion by 2025, marking an over 11-fold increase in the past five years and signalling a strong scale-up of India-linked risk underwriting within the International Financial Services Centre (IFSC). According to GIFT city press release, "The growth in premiums has been supported by a steady increase ...Read More >
Gandhinagar (Gujarat) [India], April 2 (ANI): GIFT City's insurance and reinsurance ecosystem has witnessed rapid expansion, with premium volumes growing from USD 102 million in 2020 to over USD 1.2 billion by 2025, marking an over 11-fold increase in the past five years and signalling a strong scale-up of India-linked risk underwriting within the International Financial Services Centre (IFSC). According to GIFT city press release, "The growth in premiums has been supported by a steady increase ...Read More >
PRNewswire Bangalore (Karnataka) [India], April 1: CARD91 announced the launch of VerifyIQ, an AI-powered verification intelligence platform designed to help banks, NBFCs, and insurance/reinsurance companies make faster, more accurate, and policy-aligned onboarding decisions. Built with an AI-first approach, VerifyIQ brings together multi-source data aggregation, AI and machine learning-led data processing with confidence scoring, and configurable decision workflows in a single operating layer ...Read More >
Bangalore (Karnataka) [India], April 1: CARD91 announced the launch of VerifyIQ, an AI-powered verification intelligence platform designed to help banks, NBFCs, and insurance/reinsurance companies make faster, more accurate, and policy-aligned onboarding decisions. Built with an AI-first approach, VerifyIQ brings together multi-source data aggregation, AI and machine learning-led data processing with confidence scoring, and configurable decision workflows in a single operating layer for verifica ...Read More >
Mumbai: JC Flowers & Co. has agreed to acquire a controlling stake in Niyam Group and anchor capital for its newly launched Lloyd's Syndicate 2047, to tap India's fast-growing reinsurance market and capture business shifting onshore. The platform, based out of GIFT City, will begin underwriting from April 1 and is aimed at channeling global capital into India and other high-growth markets. The investment comes as global insurers deepen their presence in India, drawn by low insurance penetration ...Read More >
Union Finance Minister Nirmala Sitharaman introduced the Sabka Bima Sabki Raksha Bill, 2025, proposing to raise FDI in the insurance sector to 100%. The bill aims to provide insurance to all by 2047, amending key insurance laws and establishing a policyholder protection fund. This move seeks to accelerate sector growth and enhance policyholder security. Union Finance Minister Nirmala Sitharaman on Tuesday introduced The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 in Lok Sab ...Read More >
New Delhi, Dec 17 (SocialNews.XYZ) The Rajya Sabha on Wednesday witnessed intense debate on the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, which proposes raising foreign direct investment (FDI) in the insurance sector to 100 pe cent from 74 per cent, among other reforms to modernise the industry and achieve 'Insurance for All by 2047'. The Bill, passed by the Lok Sabha on December 16, amends the Insurance Act, 1938; Life Insurance Corporation Act, 1956; and Insurance Regu ...Read More >
New Delhi: Enhancing foreign direct investment limit to 100% will enable global insurance companies to inject substantial capital directly without waiting for domestic partners, Union finance minister Nirmala Sitharaman told the Lok Sabha on Tuesday as the House passed the insurance bill seeking to remove FDI cap along with over a dozen key sectoral reforms. "If there's a need for growing protection through insurance in this country, we need to have insurance more accessible," she said while re ...Read More >
New Delhi [India], December 16 (ANI): Finance Minister Nirmala Sitharaman on Tuesday introduced the Insurance Laws (Amendment) Bill, 2025, titled "Sabka Bima Sabki Raksha", in the Lok Sabha, aiming to strengthen policyholder protection, deepen insurance penetration and accelerate the growth of the insurance sector in the country. The Bill seeks to amend key legislations, including the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the Insurance Regulatory and Development Aut ...Read More >
Mumbai: Jio Financial Services Limited (JFSL) has announced a special festive campaign "Jio Gold 24K Days", which allows customers to start investing in gold with as little as Rs 10. The scheme also gives buyers a 2 per cent gold bonus and prizes worth Rs 10 lakh on purchases made during Dhanteras and Diwali. As part of the limited-period offer, customers purchasing digital gold worth Rs 2,000 or more between October 18 and 23, 2025, through the JioFinance or MyJio apps, will receive 2 per cen ...Read More >
New Delhi, Sep 16 (PTI) Insurance companies will not be able to claim input tax credit on GST paid on inputs like commissions and brokerages for individual health and life insurance policies with effect from September 22, the CBIC said on Tuesday. The Central Board of Indirect Taxes and Customs (CBIC) has issued a set of FAQs clarifying on the taxation of various goods and services when the new GST slabs kick in from September 22. The GST Council in its meeting on September 3 had decided to ex ...Read More >
Mumbai: After partnering with US-based investment powerhouse BlackRock and making its official entry into the mutual fund sector of India, businessman Mukesh Ambani's Jio Financial Services Limited has joined hands with Allianz Group to dominate the reinsurance sector in India. Both companies entered the reinsurance sector through their wholly owned subsidiary, Allianz Europe BV, with a 50:50 joint venture. In its exchange filing, JFSL informed about its latest partnership, stating that it will ...Read More >
Bengaluru: The Karnataka Commercial Tax Department has once again issued a clarification regarding the recent tax notices sent to bakeries, condiments, and tea stalls in Bengaluru. Following earlier backlash, the department had stated that traders with annual turnover below ₹1.5 crore can opt for the Composition Tax Scheme and pay only 1% tax, offering significant relief. Now, in a press release, the department reiterated that traders who have received notices should visit their respective tax ...Read More >
Hyderabad: Heritage Foods Limited, a leading Indian dairy brand, reported its highest-ever quarterly revenue of Rs11,368 million for the first quarter of FY26, registering a 10% year-on-year growth despite headwinds from unseasonal rainfall across its key markets. The company, which is celebrating 34 years of operations, attributed its strong performance to steady progress in milk procurement, resilient milk and value-added product (VAP) sales, and its continued focus on quality, innovation, an ...Read More >
New Delhi [India], July 19 (ANI): Jio Financial Services Limited (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary Allianz Europe BV, entered into a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. As per the official release, the reinsurance partnership will bring together JFSL deep local expertise and robust digital footprint with Allianz strong underwriting and global reinsurance capabil ...Read More >
Srinagar: The Counter-Intelligence Kashmir (CIK) unit of Jammu and Kashmir Police is conducting searches at ten locations across four districts in the Valley. An official told news agency -- Kashmir News Observer (KNO) that the raids are part of an ongoing investigation into a terror-crime case linked to a terrorist sleeper cell and recruitment module handled by Jaish commander Abdullah Ghazi from across the border. The searches are underway at one location in Pulwama, six in Ganderbal, one in ...Read More >
New Delhi [India], July 19 (ANI): Jio Financial Services Limited (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary Allianz Europe BV, entered into a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. As per the official release, the reinsurance partnership will bring together JFSL's deep local expertise and robust digital footprint with Allianz's strong underwriting and global reinsurance cap ...Read More >
Kolkata: Bandhan Bank's net profit in the first quarter of FY 2026 recorded a 65% slump at Rs 372 crore compared with Rs 1,063 crore posted in the year-ago period. Partha Pratim Sengupta, MD and CEO of the bank, attributed the decline to stress in microfinance asset.Even though the bank's total business grew by 11% to Rs 2.8 lakh crore last year, a 119% rise in provisions due to write-offs and high slippages in the microfinance book brought its Q1 net profit down, Sengupta said. "The loan book c ...Read More >
New Delhi, Jul 18 (PTI) Jio Financial Services Limited (JFSL) and Allianz Group of Germany, through its wholly-owned subsidiary Allianz Europe B.V., entered into a binding agreement on Friday to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. The announcement comes months after Allianz parted ways with Bajaj group financial services firm Bajaj Finserv. The reinsurance partnership will bring together JFSL's deep local expertise and ...Read More >
New Delhi: The retail asset securitisation market in India has shown steady growth in the first quarter (Q1) of FY26, with a total transaction volume of Rs52,000 crore, a new report said on Wednesday. This includes both pass-through certificate (PTC) issuances and direct assignment (DA) transactions, according to CareEdge Ratings report. The volume represents a 6 per cent growth over the same period previous year. Despite this, the market's stability is a positive sign, driven by strong demand ...Read More >
New Delhi, July 9 (SocialNews.XYZ) The retail asset securitisation market in India has shown steady growth in the first quarter (Q1) of FY26, with a total transaction volume of Rs 52,000 crore, a new report said on Wednesday. This includes both pass-through certificate (PTC) issuances and direct assignment (DA) transactions, according to CareEdge Ratings report. The volume represents a 6 per cent growth over the same period previous year. Despite this, the market's stability is a positive sig ...Read More >
New Delhi: Fairfax Financial Holdings Ltd has hired India's former G20 Sherpa Amitabh Kant as a senior adviser, as the Canadian investment firm looks to tap more opportunities in India. Kant's track record in transformative government initiatives related to economic development, innovation, and sustainable growth will benefit Fairfax's long-term investment approach in India, the company said. Fairfax expects to participate in and benefit from India's 'Viksit Bharat' initiatives towards becomin ...Read More >
Mumbai, June 27 (SocialNews.XYZ) Bollywood actor Ayushmann Khurrana joins names such as Kamal Haasan, Ariana Grande, and Jeremy Strong at the Academy of Motion Picture Arts and Sciences this year. Ayushmann along with names such as Kamal Haasan Naomi Ackie, Gillian Anderson, Branford Marsalis, Conan O'Brien, Jimmy Kimmel, Stephen Graham, Jodie Comer and Jason Momoa are among 534 individuals who were invited to join the Academy of Motion Picture Arts & Sciences on June 26. "We are thrilled to i ...Read More >
New Delhi, Jun 27 (PTI) Canadian billionaire Prem Watsa's company Fairfax Financial Holdings Limited on Friday said it has appointed former NITI Aayog CEO Amitabh Kant as a senior advisor. In a statement, Fairfax said former G20 Sherpa Kant's extensive expertise in economic development, innovation, and sustainable growth is expected to significantly benefit the company's long-term investment approach in India. Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for June 27, 2025 Declar ...Read More >
New Delhi, Jun 27 (PTI) Canadian billionaire Prem Watsa's company Fairfax Financial Holdings Limited on Friday said it has appointed former NITI Aayog CEO Amitabh Kant as a senior advisor. In a statement, Fairfax said former G20 Sherpa Kant's extensive expertise in economic development, innovation, and sustainable growth is expected to significantly benefit the company's long-term investment approach in India. As India is pursuing an ambitious roadmap toward becoming a developed economy by 204 ...Read More >
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