Subrata Panda

All stories by Subrata Panda

Aditya Puri sells 7.42 million shares in HDFC Bank for Rs 843 cr

Aditya Puri sells 7.42 million shares in HDFC Bank for Rs 843 cr

Rediff.com27 Jul 2020

Puri will hang up his boots this October as he will reach the maximum age limit of 70 for a chief executive officer of a private bank. Puri has been at the helm of HDFC Bank for the past 26 years, since its inception in 1994.

After 3 months of slide LIC hopes to spring back in June

After 3 months of slide LIC hopes to spring back in June

Rediff.com4 Jul 2020

With the lockdown being eased gradually, providing more and more digital solutions, for service delivery and procurement of new policies, is what the corporation is focussing on.

2 Covid-19 insurance schemes to be launched on July 10

2 Covid-19 insurance schemes to be launched on July 10

Rediff.com28 Jun 2020

All costs relating to room, boarding, nursing expenses, medical consultation including telemedicine, consumables such as PPE kits and intensive care unit will be covered under the policy. It will also include the cost of treatment for any other co-morbidities, including pre-existing comorbid conditions along with the treatment for Covid-19.

Life insurers can sell short term benefit-based COVID policies now

Life insurers can sell short term benefit-based COVID policies now

Rediff.com24 Jun 2020

Non-life insurers can sell both, benefit-based and indemnity-based short-term health covers.

ICICI Lombard adds home care to health policies

ICICI Lombard adds home care to health policies

Rediff.com17 Jun 2020

For new customers, the insurer has reduced the waiting period from 30 days to 15 for Covid-related claims with no increase in premium.

Covid insurance cover may have ceiling of Rs 5 lakh

Covid insurance cover may have ceiling of Rs 5 lakh

Rediff.com13 Jun 2020

The new draft guidelines issued by IRDAI proposes a minimum sum assured of Rs 50,000 and a maximum of Rs 5 lakh. A General Insurance Council official said the guidelines were still being worked on and would only be finalised next week.

SBI to dilute 2.1% stake in SBI Life Insurance

SBI to dilute 2.1% stake in SBI Life Insurance

Rediff.com12 Jun 2020

SBI is expected to mop up almost $202 million via the share sale.

Finally, some signs of economic revival

Finally, some signs of economic revival

Rediff.com2 Jun 2020

With vehicular activity picking pace in May, toll collection also saw a huge uptick. Fastags posted an impressive jump of more above 400 per cent in transaction count at 55.17 million, and an over-300 per cent jump in value at Rs 1,142 crore.

HDFC urged to reduce stake in insurance arms

HDFC urged to reduce stake in insurance arms

Rediff.com19 May 2020

In HDFC Life, the company has to pare 1.43 per cent, and in HDFC Ergo, it has to pare only 0.58 per cent.

Why health insurance premiums are set to rise

Why health insurance premiums are set to rise

Rediff.com13 Apr 2020

The rise in premiums could be in the range of 5-25 per cent, depending on the features that each insurance company adds on its products. Insurance firms have been given time till September 30 to include modifications mandated by the regulator.

Renewal norms for health, auto insurance eased

Renewal norms for health, auto insurance eased

Rediff.com3 Apr 2020

Payments can be made till April 21; for motor the relaxation is only for third-party insurance.

'Number of deaths in India is not alarming so far'

'Number of deaths in India is not alarming so far'

Rediff.com2 Apr 2020

'Unless it becomes really a big epidemic in India where a huge number of people are getting sick and lakhs of people dying, I do not see a major impact on the insurance sector.'

NCLT grants 90-day extension to Jet

NCLT grants 90-day extension to Jet

Rediff.com19 Mar 2020

This is an exceptional case of extension beyond the 330-day limit under the insolvency and bankruptcy code.

How much is YES Bank stock worth?

How much is YES Bank stock worth?

Rediff.com6 Mar 2020

Foreign brokerages said if SBI decide to buy stake in the bank, they should buy it at Rs 1 per share as the net worth is hugely impaired.

LIC's gross NPA ratio in debt portfolio rises to 7.5% in Dec

LIC's gross NPA ratio in debt portfolio rises to 7.5% in Dec

Rediff.com18 Feb 2020

In absolute terms, the outstanding book value of NPAs of LIC in the debt portfolio across life, pension and unit-linked funds is to the tune of Rs 32,685.39 crore at the end of December 2019.

LIC's exposure to default debt instruments tops Rs 20,000 crore

LIC's exposure to default debt instruments tops Rs 20,000 crore

Rediff.com23 Jan 2020

The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.

Jet Air lenders to submit EoIs on January 15

Jet Air lenders to submit EoIs on January 15

Rediff.com3 Jan 2020

Resolution professional, Ashish Chhawchharia, had informed the bankruptcy tribunal that two new investors had shown early interest for investing in Jet. One of them is a foreign investor from West Asia and the other is an Indian-entity-backed by a UK investor.

Creditors of cash-strapped DHFL claim dues worth Rs 87,905.6 crore

Creditors of cash-strapped DHFL claim dues worth Rs 87,905.6 crore

Rediff.com31 Dec 2019

Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.

Former IL&FS directors got lucrative paychecks even as firm collapsed

Former IL&FS directors got lucrative paychecks even as firm collapsed

Rediff.com21 Dec 2019

Even erstwhile independent directors were being paid substantial remuneration including commission. The median annual salary of IL&FS employees was Rs 13.1 lakh.

Why RBI did not cut rates in December

Why RBI did not cut rates in December

Rediff.com20 Dec 2019

The minutes of the December MPC meet reveal members felt the current spike in the headline inflation rate was due to a temporary supply shock on the food front, expected to moderate by the second quarter of 2020-21.

RBI mulls placing NBFCs under bank-like vigil

RBI mulls placing NBFCs under bank-like vigil

Rediff.com14 Dec 2019

If the policy is extended to NBFCs and co-operative banks, they will have to disclose divergence in asset classification and provisioning during RBI inspections in their audited financial reports. Till now, these entities have been exempted from this. At present, there are more than 98,000 co-operative banks and 10,000 NBFCs. Sources said the RBI would concentrate on the top 50 co-operative banks and NBFCs.

Chanda Kochhar seeks time to make RBI party in ICICI Bank case

Chanda Kochhar seeks time to make RBI party in ICICI Bank case

Rediff.com3 Dec 2019

Kochhar's counsel argued that according to Section 35B (b) of the Banking Regulation Act, prior approval of the RBI is required to terminate the contract of a bank's chairman or managing director. But in this case, the RBI approval came after the termination letter was served.

NCLT asks telecom department not to terminate Aircel's license and spectrum

NCLT asks telecom department not to terminate Aircel's license and spectrum

Rediff.com29 Nov 2019

The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.

What next for Anil Ambani?

What next for Anil Ambani?

Rediff.com25 Nov 2019

Resignations of Anil Ambani and four other directors were conveyed to the CoC of RCom in its meeting on November 20 and were unanimously rejected.

PMC: Withdrawal limit hiked to Rs 40,000

PMC: Withdrawal limit hiked to Rs 40,000

Rediff.com15 Oct 2019

With this relaxation more than 77 per cent of the depositors will be able to withdraw their entire account balance.

RBI officers have FD of Rs 105 cr in PMC Bank

RBI officers have FD of Rs 105 cr in PMC Bank

Rediff.com27 Sep 2019

The Reserve Bank Officers Cooperative Credit Society, which caters to the credit needs of RBI officers posted all over India, has a fixed deposit of Rs 105 crore in the bank on which the RBI has placed various curbs for six months following revelations of irregularities.

As revival hopes fade, Jet creditors' claims zoom

As revival hopes fade, Jet creditors' claims zoom

Rediff.com19 Aug 2019

Naresh Goyal-owned group companies, including the airline's general sales agent in India and abroad, and a car rental firm, are among those who have filed claims.

Motown slowdown hits motor insurance

Motown slowdown hits motor insurance

Rediff.com4 Aug 2019

In the June quarter, growth in the segment stood at around 4 per cent, with premium collection at Rs 15,724 crore against Rs 15,074 crore in the same period of FY19. This was the lowest growth in the last five quarters, starting from Q1FY19.

More trouble brews for Jet Airways

More trouble brews for Jet Airways

Rediff.com24 Jul 2019

Jet Airways HQ owner wants resolution professional to vacate premises. The licence for occupying the place has been terminated, on account of the airline having not paid the rent after March.

Lenders to rejig debt of 2 more Anil Ambani firms

Lenders to rejig debt of 2 more Anil Ambani firms

Rediff.com22 Jul 2019

The two troubled subsidiaries of Reliance Capital have over Rs 20,000 crore debt of both the companies. Reliance Home Finance has a debt of Rs 11,500 crore and Reliance Commercial Finance owes Rs 9,000 crore to lenders.

Policyholders prefer to buy insurance physically

Policyholders prefer to buy insurance physically

Rediff.com8 Jul 2019

The online channel has only been successful in making inroads in metro cities.

Buying health cover? Here's some good news for you

Buying health cover? Here's some good news for you

Rediff.com20 May 2019

Irdai has listed diseases that can't be excluded from health insurance policies, including neurodevelopmental disorders, mental illness problems, psychological disorders, genetic diseases, puberty- and menopause-related disorders.

New life insurance regulations get Irdai's nod

New life insurance regulations get Irdai's nod

Rediff.com29 Mar 2019

The new regulations will allow the insurers to charge an extra premium from policyholders who wish to buy riders with unit-linked insurance plans.

Insurance cos shift focus from market-linked products

Insurance cos shift focus from market-linked products

Rediff.com15 Mar 2019

Market-linked products have been driving the growth of private insurers for some time now. But, the market volatility has forced the companies to re-think their strategies, reports Subrata Panda.

India-Pakistan tensions may not impact insurance covers, say experts

India-Pakistan tensions may not impact insurance covers, say experts

Rediff.com1 Mar 2019

All covers have a war exclusion clause. For cargo, shipping, and aviation industries, war schemes are available.

'India's insurance density is one-tenth of China's'

'India's insurance density is one-tenth of China's'

Rediff.com20 Sep 2017

Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda, in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years.