The Reserve Bank of India (RBI) on Saturday reaffirmed that IndusInd Bank remains well-capitalised and that its financial position remains stable, even as the lender works to address an accounting discrepancy in its currency derivatives portfolio. IndusInd Bank recently disclosed that it had uncovered an accounting mismatch in its currency derivatives book, dating back to … Read more
How will the proposed new UPI tiered pricing work? Will it impact consumers? The government is considering a proposal to reintroduce merchant discount rate (MDR) charges on Unified Payments Interface (UPI) and RuPay debit card transactions for large merchants, as banks and payment service providers push for sustainable revenue models. Under the proposed tiered pricing … Read more
Claim rejections form majority of insurance grievances, millennials lead complaints Insurance grievances are rising sharply, with claim rejection emerging as the leading cause, accounting for 88% of complaints filed by policyholders. A report by Insurance Samadhan, a grievance redressal platform, found that millennials, aged 25-38, are the most proactive in seeking resolution, making up 46% … Read more
Non-life insurance premiums decline in February amid accounting changes, slower Growth Premiums of non-life insurance companies fell 2.82% year-on-year (Y-o-Y) in February to Rs 21,747.57 crore, impacted by revised accounting norms and a slowdown in the health and motor insurance segments. The decline comes amid an overall 6.6% Y-o-Y growth in non-life premiums to Rs … Read more
Debasish Panda ~Samriddhi Singh Mahar As the chairman of the Insurance Regulatory and Development Authority of India (IRDAI) many key policy decisions and regulatory changes took place under him. Around the 6th of April, 2022, as the newly appointed chairman of IRDAI, Debashish Panda led sessions with CEOs and key insurance officials. Here he spoke … Read more
Credit cards show signs of drop in slippages, lenders maintain vigil The impact of tighter credit filters over the past two years is beginning to reflect in lenders’ portfolios, as weaker cohorts transition into non-performing loans (NPLs) or impaired categories, leading to an eventual reduction in credit costs, according to industry insights. Recent results from … Read more
RBI hints at ‘soft-touch’ approach towards innovation in payments ecosystem, fintechs The Reserve Bank of India (RBI) Governor Sanjay Malhotra has hinted a ‘soft-touch’ approach towards the innovation in the payments ecosystem and fintechs saying we will continue to encourage innovation. “We have adopted a soft-touch approach to regulating the payments ecosystem and FinTechs, and … Read more
IndusInd Bank’s accounting lapse, what went wrong? IndusInd Bank’s recent disclosure of accounting deficiencies in its derivatives portfolio has raised serious concerns among investors and analysts. The bank estimates a financial impact of Rs 16 billion post-tax and Rs 21 billion pre-tax, highlighting a mismatch in how it accounted for internal and external forex hedging … Read more
India’s P2P lenders face existential crisis amidst regulatory crackdown The Reserve Bank of India’s (RBI) recent penalties on four major P2P platforms—Rang De, Faircent, Financepeer, and Finzy—highlight systemic non-compliance, weak corporate governance, and regulatory violations. A model designed to democratize credit is now at risk of becoming a breeding ground for financial mismanagement and ethical … Read more
How much has the RBI spent to stop the rupee fall? The Reserve Bank of India (RBI) was a net seller of over $36 billion in the foreign exchange market between June and December 2024 in an attempt to stabilise the rupee, according to a written response by the government in the Rajya Sabha on … Read more
