The general insurers have sought well-crafted strategies from interested consultants to withstand competition from the private sector which is more customer-oriented in terms of both services and products.
Foreign banks say they have been caught in a "conflict" situation with respect to the manner in which the Reserve Bank of India (RBI) conducts inspections at their branches.
SBI's profits are expected to take a hit of Rs 800 crore for each of the next five years with the bank needing to make additional provision of around Rs 4,000 crore due to changes in accounting norms.
As soon as general insurers are freed from the shackles of standard products, they could offer a motor insurance policy that provides for settlement of full claims amount without any deductions for depreciation as per the current practice.
The sharp rise in home loan rates of private sector banks is forcing their customers to switch loyalties.
Corporates being compelled to pay higher rates on term loans of 3 years and above, struck at fixed rates a year ago.
Banks are considering levying a charge of Rs 50 on high-value cheques, while making local payments through real time gross settlement free.
"We have written to all the companies in which we have nominee-directors, asking them not to give Esops," said LIC managing director D K Mehrotra. He said there were more than 100 companies in which LIC had nominee-directors.
The days of free group healthcare could be over, it's time to fund your own medical policies.
Companies will now have to pay a charge for loans sanctioned to them but not utilised
The move opens a debate on the role of independent directors nominated by institutions.
The Bombay high court has ruled that LIC has to honour claims made by lenders, that is banks, non-banking finance companies and financial institutions, if an LIC policyholder defaults in repaying the loan to the lender.
The Insurance Regulatory Development Authority plans to introduce guidelines soon on transfer (also called assignment) of insurance policies after the Insurance Act is amended.
The Life Insurance Corporation of India will soon file a special leave petition before the Supreme Court to prevent trading in life insurance policies.
Banks to also charge 50-100 bps more for a second home.
Banks offer to extend repayment tenures up to 25 yrs.
Banks are considering setting up a domestic card payment settlement company, called India Pay, that would rival global payment systems Visa and MasterCard.
Corporate India has paid 50 per cent (around Rs 600 crore) more on group health insurance this year. The premium paid on this account last year was Rs 1,200 crore (Rs 12 billion).
An interview with Zhan Xiangyang, director general of the world's third largest bank, with a market capitalisation of $183.85 billion.
A large part of the accretion to fixed deposits till March 16, 2007 was on account of a flight of funds from the low-cost CASA.
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