ICICI Lombard outsmarted other private general insurers in the first two months of this fiscal by mopping up Rs 10,137 crore (Rs 101.37 billion) in premium income and cornering 3.27 per cent of the market share in April-May, 2003.
ICICI Bank on Saturday launched the Visa 'mini card', India's first miniature-sized payment card.
The bank got the share in lieu of repayment of loan.
The securities -- Pass Through Certificates, backed by the new and used car receivables, originated from ICICI Bank and have been issued by Indian Retail ABS Trust under the bank's securitisation programme. Credit rating agency Crisil has assigned the high investment grade rating to these securities. The bank would assign the pool to the trust and will receive a purchase consideration equal to the pool's principal outstanding.
ICICI Bank on Monday jacked up auto loans by up to 0.75 per cent even before the RBI decided to increase statutory deposits last week as a part of inflation controlling measure.
ICICI Bank on Tuesday introduced cash withdrawal facility at point of sale (PoS) terminals at merchant outlets.
The 2023-24 (FY24) July-September quarter (second quarter, or Q2) proved to be a mixed period for asset management companies (AMCs). While the two largest listed AMCs, HDFC and Nippon, reported robust growth in both revenue and profits, the other two, Aditya Birla Sun Life and UTI, experienced profit declines. HDFC AMC reported an 18 per cent year-on-year increase in Q2 revenue to Rs 765 crore, while Nippon's revenue rose 15 per cent to Rs 475 crore.
The Paytm application (app) could potentially face a permanent loss of its integrated mobile wallet feature, currently owned by Paytm Payments Bank (Paytm PB). With the recent crackdown on Paytm PB, sources say getting a fresh wallet licence may get tough for the group. "The Paytm app (One97 Communications) has to apply afresh to the RBI for a licence to operate a prepaid payment instrument (PPI) like a mobile wallet within the Paytm app, as PPI is a regulated entity.
The life insurance industry reported a 25.28 per cent decline in new business premium income in November 2023 to Rs 26,494.83 crore from Rs 34,588.8 crore recorded a year ago. The fall in group premium and change in taxation norms for policies with a higher ticket size dragged the premiums of the state-run Life Insurance Corporation of India (LIC) and private insurers, respectively. According to the data released by the Life Insurance Council, the premium of private insurers slipped 9.33 per cent Y-o-Y to Rs 10,360.29 crore from Rs 11,426.73 crore as a result of a change in product mix due to the measures taken to counter the impact of tax imposed on the premiums of Rs 5 lakh.
ICICI Prudential Life Insurance Company has launched a completely online term insurance plan named 'iProtect' on Tuesday.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Located in the banking hub of Singapore's central business district, the branch office is the start of ICICI's retail operations in the country under a 25-branch qualified Full Banking licence given by the Monetary Authority of Singapore in April, Kochhar said.
Credit rating agency ICRA is unlikely to revise its rating for ICICI Bank, but said it has 'taken note of the recent pressure' on the bank following panic withdrawal by depositors in some parts of Gujarat and Mumbai.
Even as Finance Minister P Chidambaram has asserted that the real estate sector is overheating, the ICICI Bank today claimed that there is genuine demand for houses and people have only deferred their decision to buy property.
ICICI Bank has extended its festive offer of low interest rates on retail loans in order to meet its target of 20 per cent retail credit growth in 2007-08, down from around 40 per cent growth recorded in the past two years.
Three years after launching its operations in Bahrain, ICICI bank has been granted a full commercial branch license and plans to expand
Following the sharp run in markets, valuations across the board have become elevated. The National Stock Exchange Nifty50 Index now trades at a 12-month trailing price-to-earnings (P/E) multiple of 24.3 times, 18 per cent higher than this year's low of 20.5 times. The valuation expansion in the broader markets has been sharper.
The vigilance department of the Insurance Regulatory and Development Authority is looking into such complaints in Rajiv Gandhi Shilpi Swasthya Bima Yojana, Weather Insurance Scheme, Shetkari Apghati Durghatana Bima Yojana and Panjikrut Kishan Durghatana Bima Yojana, according to a letter written by IRDA to Finance Ministry on its ongoing probe.
Among the Sensex firms, Asian Paints, Titan, Larsen & Toubro, JSW Steel, ITC, Hindustan Unilever, Maruti and Reliance Industries were the major gainers. ICICI Bank, NTPC, Infosys, Tech Mahindra, Tata Steel and Bajaj Finance were among the laggards.
ICICI Lombard has bagged a contract from the railways to provide personal accident cover at a premium of just 4.75 paise per passenger. The personal accident cover is for a year starting from September 20, 2007.
As part of its efforts to rationalise costs and divest non-core assets, ICICI Bank has sold a property at Prabhadevi in central Mumbai.
All 463 branches of BoR has started functioning as ICICI Bank's as per the directive of the Reserve Bank of India.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
The net non-performing assets on December 31, 2016 were Rs 20,155 crore compared to Rs 16,483 crore at September 30, 2016
ICICI Lombard has secured the top slot in new business collections among private general insurers in the first half of this fiscal.
From April 1, when we buy insurance for a car or take out a health cover, insurance companies can offer a product totally customised for us.
The country's largest private sector lender ICICI Bank on Friday said it has raised $500 million through an issue of bonds in the international market.
The country's largest private sector lender ICICI Bank on Friday said it has raised $500 million through an issue of bonds in the international market.
ICICI Bank has opened a branch in Jhajjar district of Haryana to advise farmers how to reinvest the huge cash they are receiving on sale of land to Reliance Industries for its SEZ in the area.
NuPower will return loan with interest to consumer durables major by 2021
No comments could be obtained from either ICICI Bank or Bank of Rajasthan. Pravin Tayal, the key promoter of the Bank of Rajasthan, could not be contacted for comments.
They will also have access to banking channels such as ATM, mobile and Internet banking.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
High-value insurance policies experienced muted growth in the first six months of the current financial year after the Centre decided to tax such products in this year's Budget. Simultaneously, there has been a marked improvement in the growth of policies with premiums of 'less than Rs 5 lakh', mainly originating from smaller cities. During this year's Budget, Finance Minister Nirmala Sitharaman proposed that insurance policies (excluding unit linked insurance plans or ULIPs) with an aggregate premium exceeding Rs 5 lakh, and the maturity amount, would not be exempt from tax.
Its total income during the September quarter also slipped to Rs 30,191 crore, as against Rs 32,435 crore in the year-ago period
Benchmark indices--Sensex and Nifty--were 0.7-0.8 per cent higher from the Saturday closing. Among the widely-tracked Nifty 50 stocks, 39 advanced and the rest 11 declined at the opening bell. Among the individual stocks, Cipla, ICICI Bank, Sun Pharma, Power Grid Corp, and Bharti Airtel were the top five gainers, while Asian Paints, Hindustan Unilever, Britania, HDFC Bank, and BPCL the losers, NSE data showed. On Monday, Indian stock exchanges were closed for trading on the occasion of Pran Pratistha of Ram Temple in Ayodhya.
Credit-to-deposit (CD) ratio of major public sector and private sector banks during the October-December quarter of FY24 inched up as compared to the previous quarter though government-owned lenders reported a lower rate than their private peers. CD ratio is the ratio of the funds that banks lend as compared to the funds raised in the form of deposits. The CD ratio of top public sector banks (PSBs) - State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank - was lower than their private counterparts.
