FINANCE – Page 190 – msmenews.sbs

IRDAI imposes ₹1 crore penalty on UIB Insurance Brokers

AIMPWAMarch 2, 2025

The Insurance Regulatory and Development Authority of India (IRDAI) imposed a ₹1 crore penalty on UIB Insurance Brokers. The penalty was imposed for violation of norms pertaining to “prompt remittance of premiums/claims received to reinsurers/insurers/foreign insurance brokers within the stipulated time,” as per an order issued by the regulator. The penalty should be remitted by...

Gold loans growing sharply as lenders shy away from unsecured loans, Muthoot Finance MD says

AIMPWAMarch 2, 2025

The sharp growth in lenders’ gold loan portfolio does not reflect stress on borrowers’ part, but lenders are shying away from growing their risky unsecured loan segments, leading to more appetite for gold loans, Muthoot Finance MD George Alexander Muthoot tells businessline in an interaction. He speaks on the gold financier’s AUM growth, borrowing cost...

NICB Fraud: Big depositors form association to save their deposits

AIMPWAMarch 2, 2025

Big depositors of the fraud-hit New India Co-operative Bank (NICB) plan to take a leaf out of the strategy adopted by the erstwhile Punjab & Maharashtra Co-operative Bank depositors. They are considering forming an association to keep their deposits safe and get them back. While about 90 per cent of NICB’s eligible depositors, who have...

OMO purchase auction receives robust response from banks

AIMPWAMarch 2, 2025

Banks placed offers to sell six government securities (G-Secs) aggregating ₹1,87,503 crore, about 4.68 times the amount the RBI notified for purchase at the open market operation (OMO). The central bank infused liquidity equal to the notified amount of ₹40,000 crore in the banking system through the OMO purchases. The RBI conducted the OMO purchase...

FSIB recommends Pant and Patnaik for two MD vacancies at LIC

AIMPWAMarch 2, 2025

The Financial Services Institutions Bureau (FSIB) has recommended the candidatures of two Executive Directors – Dinesh Pant and Ratnakar Patnaik – of the Life Insurance Corporation of India for appointment as Managing Directors at the public sector life insurance behemoth. FSIB interfaced with 8 candidates on February 20 for two positions of MDs in LIC....

Project lending dips as RBI note raises fear of higher provisioning

AIMPWAMarch 2, 2025

Lenders have turned circumspect on project finance after the Reserve Bank of India unveiled draft guidelines on prudential treatment of projects under implementation in May 2024, possibly fearing the provisioning impact it could have on their bottomlines. This can be gauged from the fact that the total cost of projects sanctioned by banks and financial...

PBPartners set to expand insurance reach across 19,000 pin codes in India

AIMPWAMarch 2, 2025

PBPartners, Policybazaar’s PoSP (Point of Sales Person) arm, is set to expand its footprint across India, aiming to cover nearly 19,000 pin codes over the next two years. With a strong presence in both urban and rural markets, the company has already established itself in over 18,000 pin codes. The expansion plan focuses on reaching...

Kotak Mahindra Prime appoints Shahrukh Todiwala as new MD, CEO

AIMPWAMarch 2, 2025

Kotak Mahindra Prime, a subsidiary of Kotak Mahindra Bank (KMB), today appointed Shahrukh Todiwala as the new MD, CEO of the company, according to a statement. Todiwala succeeds Vyomesh Kapasi, who will now take over as the head of product-consumer bank vertical at KMB. Ashok Vaswani, MD & CEO of KMB, said, “These appointments underscore...

RBI Deputy Guv Rao flags concerns of excessive borrowings

AIMPWAMarch 2, 2025

RBI has flagged some concerns of excessive borrowing in unsecured segment and from derivative euphoria in the capital markets. “The temptation of short-term gains can easily overshadow the long-term financial security of individuals,” RBI Deputy Governor M Rajeshwar Rao said at a BFSI summit jointly organised by IIM-K and NSE. He emphasised that financial entities...

Excessive borrowing in the unsecured segment a cause for concern: RBI Deputy Governor Rao

AIMPWAMarch 2, 2025

The Reserve Bank of India has, of late, seen some concerns of excessive borrowing in the unsecured segment and from derivative euphoria in the capital markets, according to M Rajeshwar Rao, Deputy Governor. The temptation of short-term gains can easily overshadow the long-term financial security of individuals, Rao said in his inaugural address at the...

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Two-year-old defense tech Mach Industries confirms $100M raise led by Khosla, Bedrock

AIMPWAJune 17, 2025

Rising-star defense tech Mach Industries has announced a new $100 million round of funding at a $470 million valuation. TechCrunch first reported that this deal was in the works last month. New investor Keith Rabois from Khosla Ventures joins existing investor Geoff Lewis of Bedrock Capital to lead the round. Existing investor Sequoia also participated....

MSMEs

Andhra Pradesh Approves Project Handover To Speed Up MSME Infrastructure Development

AIMPWAJune 17, 2025

Amaravati, Jun 17 (KNN) The long-stalled construction of flatted factory complexes at the Vemavaram Jakkampudi Economic Township is poised to advance following state government approval for institutional restructuring and project handover. The Andhra Pradesh government has authorised the Andhra Pradesh Economic Development Board Corporation Limited to complete pending land alienation procedures and transfer project responsibilities...

Jainik Power Shares Debut Below Issue Price On NSE SME Platform

AIMPWAJune 17, 2025

New Delhi, Jun 17 (KNN) Jainik Power and Cables Limited commenced trading on the NSE SME platform on Tuesday, opening at Rs 82 per share, representing a decline of more than 25 percent from its initial public offering price of Rs 110. The stock subsequently recovered to trade at Rs 86.10, marking a 5 percent...

Observability startup Coralogix becomes a unicorn, eyes India expansion

AIMPWAJune 17, 2025

Coralogix, an Israeli startup offering a full-stack observability and security platform, has raised $115 million at a pre-money valuation of over $1 billion, almost doubling in three years from its last round in 2022. With the influx of cash, the startup is looking to expand its engineering base in India and develop its AI agent....

Sequoia-backed Crosby launches a new kind of AI-powered law firm

AIMPWAJune 17, 2025

The tech industry talks a lot about how AI is going to transform work. Legal startup Crosby, which just came out of stealth with a $5.8 million seed round led by Sequoia, is perhaps the most extreme example of what’s coming that we’ve seen to date. Crosby isn’t just making AI software for lawyers –...

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Latest Posts

IRDAI imposes ₹1 crore penalty on UIB Insurance Brokers

Gold loans growing sharply as lenders shy away from unsecured loans, Muthoot Finance MD says

NICB Fraud: Big depositors form association to save their deposits

OMO purchase auction receives robust response from banks

FSIB recommends Pant and Patnaik for two MD vacancies at LIC

Project lending dips as RBI note raises fear of higher provisioning

PBPartners set to expand insurance reach across 19,000 pin codes in India

Kotak Mahindra Prime appoints Shahrukh Todiwala as new MD, CEO

RBI Deputy Guv Rao flags concerns of excessive borrowings

Excessive borrowing in the unsecured segment a cause for concern: RBI Deputy Governor Rao

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Two-year-old defense tech Mach Industries confirms $100M raise led by Khosla, Bedrock

Andhra Pradesh Approves Project Handover To Speed Up MSME Infrastructure Development

Jainik Power Shares Debut Below Issue Price On NSE SME Platform

Observability startup Coralogix becomes a unicorn, eyes India expansion

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Two-year-old defense tech Mach Industries confirms $100M raise led by Khosla, Bedrock

Andhra Pradesh Approves Project Handover To Speed Up MSME Infrastructure Development

Jainik Power Shares Debut Below Issue Price On NSE SME Platform

Observability startup Coralogix becomes a unicorn, eyes India expansion

Sequoia-backed Crosby launches a new kind of AI-powered law firm

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Two-year-old defense tech Mach Industries confirms $100M raise led by Khosla, Bedrock

Andhra Pradesh Approves Project Handover To Speed Up MSME Infrastructure Development

Jainik Power Shares Debut Below Issue Price On NSE SME Platform

Observability startup Coralogix becomes a unicorn, eyes India expansion

Sequoia-backed Crosby launches a new kind of AI-powered law firm

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