On Saturday IIFL Finance said that "It's home loan subsidiary has tied up with ICICI Bank to provide affordable housing and MSME loans." IIFL Finance said in a regulatory filing that "IIFL Home Finance Ltd. and ICICI Bank have entered into a sourcing and servicing arrangement to partner in extending credit to the affordable housing loans & MSME LAP (Loan Against … [Read more...]
Next week RBI conducts 3rd Open Market Operations purchase of State Developments Loans
On 23rd December 2020, the RBI will conduct the 3rd auction of State Developments Loans (SDLs) aggregating ₹ 10,000 crore under the Open Market Operations (OMO). Whereas, the result of the auction also will be announced on December 23 itself. The RBI has conducted two Open Market Operations in State Development Loans covering all states/UTs for a cumulative amount of ₹ 20,000 … [Read more...]
On WhatsApp with the help of a chat app, SBI General Insurance Plans to offer affordable health cover soon
In India, WhatsApp is set to be entered into the insurance business. Payments feature of WhatsApp is now available to users nationwide. The Company said that "it expects to facilitate the purchase of “affordable sachet-sized” health insurance via its platform by the end of the year as part of its efforts to provide users in India with greater access to financial … [Read more...]
Muthoot Finance ties up with Bajaj Allianz
On Monday Muthoot Finance stated that to provide insurance on gold jewellery as part of their new initiative, it has tied up with Bajaj Allianz General Insurance. The name of the policy known as "Muthoot Gold Shield". The policy provides insurance coverage of gold jewellery for individuals at the time of closure of gold loans and the release of gold ornaments. The policy will … [Read more...]
For digital transformation, the LIC Housing Finance unveils Project RED
With the aiming to do 95% of work by the digital mode, mortgage lender LIC Housing Finance has launched Project RED (Re-imagining Excellence through Digital Transformation). The lender has engaged Boston Consulting Group (BCG) as its consultant for this project, and the company plans to implement it in the next 21 months. The company expects double-digit growth in the current … [Read more...]