Non-banking financial companies (NBFCs) reported encouraging results for Q4FY26 with improved asset quality and earnings, but analysts maintain a cautious near-term outlook due to geopolitical tensions, monsoon risks, and specific portfolio concerns.
The Rs 12,450 crore capital infusion will enable the three public sector general insurance companies to improve their financial and solvency position, meet the insurance needs of the economy, absorb changes and enhance the capacity to raise resources and improve risk management.
The four public sector general insurance companies -- New India Assurance, United India Insurance, Oriental Insurance, and National Insurance Company -- have lost 800 basis points (bps) in market share in last five years to their private counterparts, the data from the Insurance Regulatory and Development Authority (Irdai) revealed. In 2018-19, the four had a cumulative market share of 40.04 per cent, with New India Assurance having a market share of 14 per cent and United India Insurance with a market share of 9.63 per cent. But, gradually in the past five years, these state-backed firms have lost their market share to private sector players, due to the declining health of their business.
Employees of public sector general insurance (PSGI) companies are observing nationwide one-day strike on Wednesday to protest against intended privatisation of state-owned insurers. The Joint Front of Trade Unions in PSGI companies met on Monday and decided to protest against the decision of the government to privatise PSGI companies. The unions have given a call for one-day strike against the passage of the General Insurance Business (Nationalisation) Amendment Bill 2021 in the Lok Sabha, General Insurance Employees All India Association general secretary K Govindan said. Employees of all four PSGI companies are participating in the day-long strike, he said.
Kerala, Tamil Nadu and West Bengal have been fiscally stressed for a considerable period of time, and there are no easy ways to mobilise revenues to meet the cost of the promised freebies, particularly in the prevailing difficult economic scenario, points out M Govinda Rao.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
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 judgment from a five-judge Constitution bench, led by Chief Justice DY Chandrachud, offers clarity on licensing regulations and is expected to prevent insurance companies from rejecting claims based on the type of licence of drivers involved in accidents.
'Was the five-day pause ever meant to hold, or was it simply another instrument of signaling, of positioning, of buying time in a war where even the pauses are tactical?' asks Prem Panicker in his must read daily blog on the Gulf War.
The Securities and Exchange Board of India (Sebi) on Wednesday overhauled the cost framework for the 80 trillion domestic mutual fund (MF) industry, introducing a simplified structure aimed at improving transparency for investors while balancing the impact on asset managers.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
'Solutions developed in India are being commercialised and offered globally because we're executing at scale, creating new markets and revenue streams.'
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries about HEALTH insurance and AUTO insurance.
The change in policy for the three companies, from listing to merger, shows the level of discomfort within the government about their ability to take on the expanded load for insurance coverage with their current financial strength, including the massive premium and claim settlement cover under the proposed universal health coverage plan announced in Budget 2018.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
If you want to inspire the young workforce, focus on building transparency, purpose and social responsibility, says notes Varun Sachdeva, SVP and APAC head, NLB Services.
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
The Bill will come up for discussion in the upcoming winter session of the Parliament.
The finance minister was speaking after launching the maiden IDF scheme of IIFCL Mutual Fund in New Delhi on Tuesday.
Given that medical inflation is estimated at 15% to 20%, a no-claim bonus can provide added benefit
Buying medical insurance? Make sure that you know what you are getting and what you are not.
'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
Priya Nair finds out how investors of mutual funds, shares, unclaimed bank deposits, insurance policies can redeem long-forgotten investments.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Ramalingam Kalirajan explains the pros and cons of both investment types.
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
Moody's Investors Service, while silent on the sovereign rating on the higher-than-expected fiscal deficit numbers, expressed doubts over attaining the higher revenue targets and divestment realisation as assumed in the Budget. The Union Budget 2021-22 has pegged a fiscal deficit of 9.5 per cent for the current financial year as against the consensus 7 per cent, and 6.8 per cent for 2021-22 with a market borrowing of around Rs 12 lakh crore. It also assumes Rs 1.75 lakh crore to be scooped up from divestment.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
Experts hail Budget 2015 as a progressive, growth oriented one.
Three key instruments that can help you meet your financial goals, while also allowing you to enjoy tax deductions are ELSS, term cover and health cover.
'The variables to watch include the monsoon, resolution of NBFC liquidity issues, GST collections, and NPA resolution.'
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
Prime Minister Narendra Modi on Thursday slammed the opposition alliance INDIA as a collection of arrogant dynasties who will take India back by two centuries as he exuded confidence that people will bless the "garib ka beta" with a record-breaking mandate in the 2024 Lok Sabha polls.
According to Section 80D, the premium paid for medical insurance is deductible from your income up to Rs 15,000 a year
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
