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IRDA may let insurers invest in gold and exchange-traded funds

The Insurance Regulatory and Development Authority (Irda) is vetting a proposal to allow life insurance companies to invest in gold and exchange-traded funds, or ETFs. The move will provide greater flexibility to local insurers to invest in various asset classes. A senior Irda official said the regulator is weighing the two options. “We may allow […]

Unsecured Loans gain importance with Banks

Growth of economy, expected wage increments, demand for consumer goods has prompted private and foreign banks to pay more attention to unsecured loan segment but they would prefer doing it selectively, focusing more on their internal customers to minimize the risk of deterioration in asset quality. Neeraj Swaroop, Standard Chartered Bank’s regional chief executive for […]

Rising rates may hit Cars

Rising interest rates could take a toll on the Mumbai residential property market and also hit auto sales in India and China, two reports released by international banks said on Wednesday. In a an industry overview on the Mumbai real estate market, Bank of America Merrill Lynch (BofaML) has projected that over the next 6 […]

Interest subvention in car loans

The finance minister, in his Budget speech announced that the existing scheme of interest subvention of 1% on housing loans will be extended to loans up to Rs 15 lakh. Earlier, the subvention was offered to housing loans worth Rs 10 lakh. This is subject to the overall condition that the price of the house […]

SBI card IVR one time password

State bank of Indian credit cards and debit cards will be having the facility of IVR one time password” which is a step up level of security offered for the consumers of SBI cards, while transactions. SBI card holders can take up financial transactions through IVR and mobile phones and this feature is in RBI […]