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New Business Premium of Private Sector Life Insurance Firms Grows by...

The Indian life insurance sector has witnessed its income from the sale of policies growing by 10.7% to touch a sum of Rs.2.15 lakh crore...

IDBI Bank categorised as a private sector bank by RBI

IDBI Bank has been categorised as a private sector lender by the Reserve Bank of India after LIC acquired a controlling stake in the bank. In January 2019,...

IDBI Bank develops plan to bring insurance and banking services under...

IDBI Bank recently announced that it is charting out a plan to bring its insurance and banking services under one platform. IDBI Bank recently became a private...

22% of IDBI Bank’s shareholders exit the bank following LIC’s open...

Following an open offer from Life Insurance Corporation of India (LIC), about 22% of IDBI Bank’s minority shareholders exercised their option to exit the bank. LIC...

Allahabad Bank reports Q2 net loss of Rs.18.2 billion

With the public sector bank being put prompt corrective action (PCA) by the Reserve Bank of India, along with other PSBs that have reported...

New Premium Income of Life Insurance Companies Reduce by 16.28% to...

According to data from the Insurance Regulatory and Development Authority of India (IRDAI), the new premium income of life insurance companies reduced by a...

LIC Board to meet on Sept. 4 to decide modalities of...

The Life Insurance Corporation of India (LIC) will meet on September 4 to decide how to go about increasing its stake in IDBI Bank...

LIC-IDBI deal gets cabinet nod

The Union Cabinet gave its nod to the proposed deal between LIC and IDBI, clearing the path for LIC to purchase a controlling stake...

Rs.15,167 crore remains unclaimed with life insurers, says IRDAI

According to the data issued by the Insurance Regulatory and Development Authority of India (IRDAI), as much as Rs.15,167 crore remains unclaimed with various...

LIC Board gives go-ahead to proposal to purchase stake in IDBI

The much-spoken about deal involving LIC and IDBI got a push on Monday, with the board of LIC approving the proposal to purchase a...