An increase of 10% in net profit is expected as higher provisioning would negate most of the gain on account of expansion of loan portfolios.
The move comes amid complaints that high returns are being promised by life insurers on ULIPs accompanied by non-existent guaranteed returns.
Insurance companies are expected to get greater leeway in investing policyholders' funds with the addition of mortgage-backed securities to the list of approved investments.
Soon standalone health insurance companies will be governed by separate regulations
ATM deployment is set to gain scale with the Anil Ambani group's Reliance Capital and a few technology firms joining hands with partner banks to launch co-branded (known as partial white-label) ATMs.
Public and private sector insurance companies are forming alliances to bid for state-run carrier Air-India's aviation cover worth $3.5 billion.
Interest subsidy to cost Rs 200 cr for the government.
ULIPs come on top with one-year returns between 34% and 45% compared with closed-end mutual funds and ELSS
A liquidity crunch has hit several microfinance institutions with the flow of funds 'temporarily' drying up after the largest MFI lender, ICICI Bank, halted payments in early January.
Shedding its image of a brick-and-mortar organisation, the Life Insurance Corporation of India (LIC) is all set venture into the digital era.
Now, banks stop giving in-principle loan sanctions on central bank directive.
The government has proposed an educational loan scheme wherein banks would make disbursements based on applications screened by "eligible" educational institutions.
The free pricing regime in the general insurance industry has come into force, with the Insurance Regulatory and Development Authority clearing all the revised rates filed by general insurers.
Players may have to suffer underwriting losses this year.
The Insurance Regulatory Development Authority of India has clamped down on excessive discounts on fire
The third party premium has been increased from the current Rs 700 to Rs 2,500, a 257 per cent hike for private cars, where the cubic capacity of the vehicle exceeds 1,500 cc.
New India Assurance, National Insurance and United India Insurance are following Oriental Insurance Company in raising health insurance premium rates by 50 to over 100 per cent.
Barclays Plc, UK's third-largest bank by assets, plans to enter the emerging credit card market in India.
India CEOs of 12 banks form pressure group within IBA.
It has been more than a year since the monsoon floods devastated Mumbai in July 2005
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