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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 >
Leh, July 18: Veteran BJP leader and former Deputy Chief Minister of Jammu and Kashmir Kavinder Gupta, was sworn as the 3rd Lieutenant Governor of Ladakh.Dressed in traditional Ladakhi attire, Gupta took the oath of office in a solemn ceremony held in Leh, administered by Justice N. Kotiswar Singh, Chief Justice of the High Court of J&K and Ladakh.Welcoming this new chapter in Ladakh's journey, Gupta emphasized service over power, declaring Ladakh deserves dignity, development, and a voice. "I'm ...Read More >
MUMBAI: As Tesla introduces its pioneering fleet of electric vehicles to the Indian market, insurance companies have designed comprehensive electric vehicle specific covers that guard against moisture buildup and electrical faults besides managing complex risks like exothermic reactions and charger problems. The covers that been launched to meet the infrastructure and technological demands of these cutting-edge vehicles offer features like battery and motor cover, charger protection, zero deprec ...Read More >
New Delhi: The sales volume of used cars in India is expected to cross 6 million units this fiscal, driven by value-conscious demand, rising digital adoption, and better access to finance, credit rating agency Crisil Ratings said in a report. This growth has pushed the used-to-new car sales ratio to 1.4, up from less than 1 five years ago, with used car volumes growing more than twice as fast as new car sales. After a tepid 5% volume growth between fiscal 2017 and 2024, used vehicle sales grew ...Read More >
New Delhi [India], July 13 (ANI): The sales volume of used cars in India is expected to cross 6 million units this fiscal driven by value-conscious demand, rising digital adoption and better access to finance, the credit rating agency Crisil Rating said in a report. This has lifted the used-to-new ratio in car sales to 1.4 from less than 1 five years ago, with the volume growing more than twice as fast. Also Read | On Which Channel Zimbabwe T20I Tri-Series 2025 Live Telecast in India Will Be A ...Read More >
Mumbai, July 11 (SocialNews.XYZ) India's used-car market is growing rapidly and is expected to cross 6 million units this fiscal, driven by rising demand among value-conscious buyers, increasing digital adoption and easier access to financing, a new report said on Friday. The sales volume of used cars is growing at a pace of 8-10 per cent, which is more than twice the growth rate of new car sales, according to data compiled by Crisil Ratings. This surge has pushed the used-to-new car sales rat ...Read More >
Mumbai (Maharashtra) [India], July 2 (ANI): RBI Deputy Governor M Rajeshwar Rao has called for frequent data updates by Credit Information Companies (CICs), asserting that it will improve loan underwriting precision, among others. Addressing TransUnion CIBIL's Credit Conference in Mumbai on Tuesday, the RBI deputy governor outlined two critical enablers -- data freshness and data quality-- for the betterment of India's credit ecosystem. Currently, credit data is refreshed on a fortnightly basi ...Read More >
New Delhi, Jun 27 (PTI) Finance Minister Nirmala Sitharaman on Friday asked public sector banks (PSBs) to deepen corporate lending in productive sectors while ensuring robust underwriting and risk management standards. The finance minister's direction comes weeks after the RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra, lowered the benchmark repurchase or repo rate by a massive 50 basis points to 5.5 per cent. It also slashed the cash reserve ratio by 100 basis ...Read More >
ITANAGAR, 6 Jun: More than 200 people without valid inner line permits (ILP) were externed from the Itanagar Capital Region on Friday, a senior police officer said. The violators were detected during an enforcement drive conducted by the Naharlagun police across Papu Hills, Naharlagun, Nirjuli, and Banderdewa, as part of the ongoing initiative to uphold the Bengal Eastern Frontier Regulation. Naharlagun Superintendent of Police (SP) Mihin Gambo said that all 219 individuals were found without ...Read More >
MUMBAI: RBI on Friday issued revised norms for loans backed by gold and silver, aimed at widening credit access for small borrowers and standardising regulations across banks and NBFCs. The new rules will come into force from April 1, 2026.Under the revised framework, loan-to-value (LTV) ratio for smaller consumption loans has been increased. Borrowers can now avail loans up to Rs 2.5 lakh with an LTV of 85%, up from 75%. For loans above Rs 2.5 lakh and up to Rs 5 lakh, the LTV is capped at 80%, ...Read More >
Chennai (Tamil Nadu) [India], December 13: Star Health and Allied Insurance Company Limited, the first standalone health insurance company in India, today announced the launch of its revolutionary retail health insurance product, 'SUPER STAR'. This innovative policy offers a long-term policy for the retail health segment, combining advanced features and highly customisable covers to address the growing complexities of modern lifestyles, rising medical expenses, and unforeseen emergencies. Also ...Read More >
PRNewswire Chennai (Tamil Nadu) [India], December 13: Star Health and Allied Insurance Company Limited, the first standalone health insurance company in India, today announced the launch of its revolutionary retail health insurance product, 'SUPER STAR'. This innovative policy offers a long-term policy for the retail health segment, combining advanced features and highly customisable covers to address the growing complexities of modern lifestyles, rising medical expenses, and unforeseen emergen ...Read More >
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