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Bajaj Allianz Life goes live with BIMA-ASBA

Bajaj Allianz Life Insurance Company (BALIC) has gone live with the BIMA – Application Supported by Blocked Amount facility (Bima-ASBA), which will bring operational ease, enhance policyholder convenience, ensure greater transparency, and simplify the insurance premium payment process. BALIC is the first insurer to go live with the aforementioned facility, per the company’s statement. Under...
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Tata AIA launches new Multicap Pension Fund 

Tata AIA Life Insurance Co Ltd has introduced a new Multicap Momentum Quality Index Pension Fund, opening for subscription from February 21 to February 28, 2025. The fund aims to tap into India’s equity markets while providing retirement planning solutions. The pension fund will invest 80-100 per cent in equity and equity-related instruments aligned with...
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PF interest rate to continue at 8.25% for FY25

The Employees’ Provident Fund Organisation’s Central Board of Trustees (CBT) has decided to retain interest rate of 8.25 per cent for provident fund deposits for FY 2024-25 but has enhanced social security benefits under its insurance scheme. The CBT recommended 8.25 per cent annual rate of interest will be credited to members’ accounts for the...
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ED issues FEMA notice to Paytm over past acquisitions

India’s Paytm received a show cause notice from India’s financial crime fighting agency on Saturday for allegedly violating the country’s Foreign Exchange Management Act. The notice relates to violations relating to the acquisition of two subsidiaries – Little Internet Private Limited and Nearbuy India Private Limited for the years 2015 to 2019, the Paytm said...
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Muthoot Finance crosses ₹1 lakh crore in gold loan AUM

Continuing its leadership in the gold loan sector, Muthoot Finance has surpassed ₹1 lakh crore in gold loan AUM as of March 14, 2025. The achievement comes amid a strong demand for gold loans, as credit availability from other sources, including fintech lending, unsecured loans, and microfinance, has moderated in recent months, said a press...

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