CATEGORIES

Insurers hope amendment Bill will drive customer engagement

Insurers expect the proposed Insurance Amendment Bill to boost growth of the sector and customer engagement as it will open the market to a large extent.

General insurers see signs of growth revival

The penetration of general insurance products like health, motor, and property remains low in the country, but there are early signs of a growth revival in the industry and the beginning of market expansion, according to top CEOs (chief executive officers) of general insurance companies.

Food, not Fed: Economists prioritise India's local inflation

Most economists believe that the monetary policy would be more dependent on local factors such as food inflation than on rate changes by the US Federal Reserve.

Don't see sustained correction in largecap stocks

DEVINA MEHRA, founder, chairperson, and managing director of First Global, in a fireside chat with A K Bhattacharya at the Business Standard BFSI Summit, spoke about the risks involved in being invested in the equity markets at a time when investors are losing money. Edited excerpts.

Investors flock to GIFT City as opportunities open up: Experts

GIFT City is increasingly gaining prominence with more banks, asset managers, insurance companies, and foreign investors opting to set shop at India's first and only International Financial Services Centre (IFSC), sensing growth potential.

'RBI action on some NBFCs warranted'

At least ₹1.5 trillion was lost in India's futures & options (F&O) market, with much of it funded through personal and unsecured loans, said K.V. Kamath, non-executive chairman of Jio Financial Services on Friday.

Higher PE/VC funding boosts governance excellence

Higher private equity (PE) and venture capital (VC) investment has driven governance excellence and accountability among Indian companies, leading to better valuations, heads of top PE firms said on Friday.

Free trade effective in theory, not in practice: CEA

Developing countries like India do not need to engage in the alarmist rhetoric about impending trade battles, especially when advanced economies have long abandoned their commitment to free trade and climate policies have already become extensions of trade protectionism, India's Chief Economic Advisor (CEA) V Anantha Nageswaran said in his keynote address at the Business Standard BFSI Insight Summit on Friday.

'No place as fascinating and interesting as India on its development journey'

Chief Economic Advisor V ANANTHA NAGESWARAN, in a fireside chat with Tamal Bandyopadhyay at the Business Standard BFSI summit, talks about issues ranging from the US election results and growth in gross domestic product (GDP) to agriculture and his experience of having a ringside view of the Indian economy. Edited excerpts:

Changes to surrender value norms in interest of customers: Industry

Changes to surrender value norms by the insurance regulator are in the best interests of customers and will boost insurance penetration, according to leading industry players.

Time to open up insurance sector for 100% FDI

With the new regulatory framework focusing on ease of doing business, a reduced compliance burden and a more robust and resilient risk management system through risk-based capital, risk-based supervision, and the International Financial Reporting Standard, the industry is now positioned to meet its evolving needs, said DEBASISH PANDA, chairman, Insurance Regulatory and Development Authority of India (Irdai).

My shoulders broad enough to accept criticism: CJI

At his farewell event, Justice Chandrachud says no greater feeling than serving the needy

Rail freight grows 1.5% in Oct to 131 mt

In a year of tepid freight traffic, goods ferried via the Indian Railways registered a growth of 1.5 per cent during October to 131 million tonnes (mt), according to railways ministry data.

SC rules against PSUs unilaterally deciding arbitrators for disputes

PSUs will need to modify their contracts to fall in line with the judgment

Skill ministry asks states to enrol ITI passouts under PM Internship Scheme

The Ministry of Skill Development and Entrepreneurship (MSDE) has asked all states and union territories (UTs) to facilitate participation of youths passing out from industrial training institutes (ITIs) in the recently-launched Prime Minister's Internship Scheme.

'Ratan Tata empowered a generation of dreamers to push boundaries'

It has been a month since Shri Ratan Tata Ji left us. From bustling cities and towns to villages, his absence is deeply felt across every segment of society.

Medical device industry gets a ₹500 crore shot in the arm

Amount will be allocated during a period of three years under govt scheme

House of Abhinandan Lodha to invest ₹3,000 cr in 6 projects

Realty firm The House of Abhinandan Lodha on Friday announced a foray into six new cities, including Amritsar, Varanasi and Vrindavan, to build plotted development projects with an investment of ₹3,000 crore.

Association suggests quality grading system for packet tea

The Indian Tea Association (ITA) is mooting the introduction of a scientific quality grading system from one leaf to five leaf marks for packet tea to boost consumer trust.

UnifyApps raises $20mn in Series-A round

UnifyApps, an enterprise AI agent platform, has closed a $20 million Series A funding round led by ICONIQ Growth, with participation from existing investors including Elevation Capital.

Taj parent to add 120 properties to cash in on travel boom

Luxury lodging brand Taj's owner Indian Hotels Co. Ltd. plans to add 120 hotels to its chain over the next few years across premium and mid-range labels, including its first one in Frankfurt next year, in a bid to capture soaring demand for travel and leisure spending.

Naked greed: Zoho's Vembu slams Freshworks for layoffs

Sridhar Vembu (pictured), founder of software development company Zoho Corporation, on Friday accused Freshworks of prioritizing shareholder buybacks over employees, criticizing a rival for job cuts.

Pantomath's BVF invests ₹235 crore in Haldiram Bhujiawala

Kolkata-based Haldiram Bhujiawala has announced the closure of its private placement round, with Pantomath's Bharat Value Fund (BVF) investing ₹235 crore in the company for a minority stake (less than seven per cent).

Engineering firms expect pipeline to remain robust amid West Asia crisis

Despite the recent escalation of tensions in West Asia, engineering companies remain optimistic about order activity from the region.

Ola Electric Q2 revenue zooms 38%

Electric vehicle company Ola Electric said on Friday its revenue rose by 38.5 per cent to ₹1,240 crore for the September quarter (Q2FY25), up from ₹896 crore in the year-ago period, driven by higher sales.

Fortis revenue rises 12% on strong hospital biz

Healthcare major Fortis Healthcare on Friday reported a 5 per cent year-on-year (Y-o-Y) rise in consolidated net profit for the September quarter of financial year 2024-25 (Q2FY25) at ₹193 crore, up from ₹184 crore reported in the same period last year.

Vedanta swings into black in Sep quarter

Anil Agarwal-promoted Vedanta Ltd on Friday reported a consolidated net profit of ₹4,352 crore (attributable to the owners of the company) for the September quarter (Q2) against a loss of ₹1,783 crore in the year-ago period, helped by a one-time gain and improved performance.

LIC profit slips 4%, net premium income up 11%

MD & CEO reveals plans to buy stake in health insurer by FY25-end

TaMo Q2 earnings down 11% as EV, SCV go slow

Revenue dips 3.5% as demand, supply challenges persist

Satellite spectrum allocati0n:.]io, Airtel bat for restricted Validity of S-S years

Bharti Airtel and Reliance J io are pushing for a restricted validity on the assignment of spectrum for satellite broadband communications, proposing an initial period of three-five years before a government reassessment ofthe assignment terms and pricing methodology.