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Paytm shares jump 8% on partnering with Samsung, focus on insurance distribution
One97 Communications, the parent company of Paytm, saw a 8% surge in shares as it announced a partnership with Samsung Wallet. Galaxy smartphone users can now access Paytm's services for flight, bus, movie, and event bookings seamlessly through the Samsung Wallet.
Irdai accepts registration withdrawal application of Paytm General Insurance
One97 Communications, owner of Paytm, will focus on distributing insurance products from various insurers after the Insurance Regulatory and Development Authority of India (Irdai) accepted Paytm General Insurance's registration withdrawal application. This move aligns with Paytm's strategy to enhance insurance distribution across Health, Life, Motor, Shop, and Gadgets segments through its subsidiary, Paytm Insurance Broking Private Ltd (PIBL). Paytm aims to innovate small-ticket insurance products for consumers and merchants, leveraging its extensive distribution network to increase insurance penetration.
These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 25%, according to analysts
After a strong phase upward movement, mid cap stocks are witnessing a sort of selective profit booking move. Profit booking which is mostly happening in line with Q4 numbers. A strong directional move is only likely to appear post election results. During this phase, analysts are bullish on select stocks from different sectors, a number of the stocks on which analysts are bullish are essentially leaders of their sector.ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.
Paytm withdraws general insurance licence application; to focus on distribution-only model
Troubled fintech Paytm will increase focus on insurance distribution. It had earmarked Rs 950 crore to invest in the entity applying for the general insurance licence but it now expects to conserve that cash. The Noida-headquartered company will focus on distributing small ticket-size insurance products such as life, health, motor, shop and gadgets.
These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 25%, according to analysts
After a phase where they once again relatively out performed, mid cap stocks are witnessing a sort of profit booking. A rotational move in terms of one set of stocks from a sector witnessing correction, while the other moves up based on what kind of numbers are getting released for the Q4. During this phase, analysts are bullish on select stocks from different sectors, a number of the stocks on which analysts are bullish are essentially leaders of their sector.ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.
Swiggy HDFC Bank Credit Card revised cashback structure effective from June 21, 2024
Swiggy HDFC Bank Credit Card: According to news reports, HDFC Bank has updated the cashback system of one of its most popular credit cards, the Swiggy HDFC Bank Credit Card. The new cashback structure is effective June 21, 2024.
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Combating dark patterns; declining VC funds for female founders
Happy Thursday! The government will soon release a tool to help consumers fight manipulative ‘dark patterns’ used by websites. This and more in today’s ETtech Morning Dispatch.
SBI PSU Fund adds IEX in April, raises stake in LIC, SAIL and 2 more stocks
SBI PSU Fund Reg(G), a top performer in equity mutual funds, bolstered its portfolio by adding Indian Energy Exchange (IEX) shares and increasing stakes in Bank of India, LIC, NALCO, and SAIL.
PhonePe poured bulk of Rs 800 crore investments into insurance business
The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullish bet on the segment. PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since it was licensed, according to information sourced from the Registrar of Companies.
AU Small Finance Bank launches array of products including Rupay credit card
AU Small Finance Bank (AU SFB) has introduced several new products to boost fee income, including the AU SPONT Rupay Credit Card and Secured Credit Card - NOMO. The NOMO Credit Card is AU SFB's first secured credit card, backed by a Fixed Deposit (FD), offering rewards and benefits like airport lounge access and fuel surcharge waivers. AU SFB has also launched the AU 0101 Business App for proprietorships and MSMEs, and the AU 0101 Version 2.0 for enhanced mobile banking. Additionally, they have introduced ATM Insurance and WhatsApp Insurance, offering innovative ways for customers to buy insurance.
Repair or replace? Insurers in this country sending electric cars to junk yards due to mechanic shortage
Electric car sales in the UK face challenges due to a shortage of trained technicians for complex EV repairs. The scarcity of repair technicians poses a threat to exacerbate this situation, particularly in the UK, where consumer adoption has remained stagnant for nearly two years. The lack of mechanics trained to handle advanced EV repairs is contributing to the escalation of repair costs.
Understanding liability in vehicle insurance: What car and bike owners should know
Choosing the right vehicle insurance in India involves understanding liability coverage, comprehensive plans, and exclusions. ACKO provides tailored coverage, add-ons, and competitive pricing for comprehensive protection and peace of mind.
Bima Sugam approved: Insurance policies set to be more affordable; buying policies, claim-settlement to be easier
IRDAI has approved the proposal to set up Bima Sugam — an online insurance marketplace. From buying insurance policies to renewals to claim settlement to portability to grievance redressal — Bima Sugam aims to provide an 'end-to-end' digital journey to all policyholders. What is Bima Sugam? How will Bima Sugam benefit insurance policyholders? All you need to know
Indians are saving up to 20% on all lifestyle spends, travel among top categories: Report
A report by Multipl reveals that Indians are saving up to 20% on lifestyle spending, with travel being the preferred category for spendvesting enthusiasts. Spendvesting combines investing and spending principles, allowing consumers to align their lifestyle goals with investing strategies. The report notes that 50% of Indian spendvestors are aged 26-34, indicating resonance with millennials and Gen Z.
Irdai draft guidelines to safeguard insurance policyholder interests: 5 major changes proposed
In order to decrease stakeholder compliance requirements, facilitate company operations, and protect policyholder interests, the Insurance Regulatory and Development Authority of India (IRDAI) has suggested a number of changes.
Want a shopping list? Sanjiv Bhasin has 7 stocks to choose from
Sanjiv Bhasin of IIFL Securities recommends UPL, NMDC, and SBI as value picks. He is positive on M&M, Indiabulls Real Estate, Dhanlaxmi Bank, and ITC. Bhasin also highlights the impressive performance of Nalco and recommends investing in BPCL. He suggests taking profits from PSUs and investing in private banks like ICICI and Axis.
Bima Sugam: IRDAI's draft regulations on one-stop online shop for all insurance policies
The Insurance Regulatory and Development Authority of India (IRDAI) has released draft regulations for the electronic insurance marketplace, Bima Sugam, or a digital public infrastructure.
Karnataka: Companies must tie-up with insurers for gratuity compliance, employers’ body seeks time
Private companies in Karnataka must now partner with insurance firms and pay an annual premium towards gratuity obligations under the Karnataka Compulsory Gratuity Insurance Policy Rules, 2024. The regulation applies to companies with more than 10 employees and requires registration with the controlling authority under the Labour department. This regulation mandates compulsory insurance for gratuity payments as per the Payment of Gratuity Act, 1972.
Your debit card may have free life insurance cover without any policy number; Know how to claim it
Insurance on debit card: Many banks like Kotak Mahindra Bank, Development Bank of Singapore (DBS) India, HDFC Bank, State Bank of India (SBI), ICICI Bank offer an complimentary insurance on debit card provided the cardholder has fulfilled certain conditions. Read here to know how the insurance on debit card mechanism works and how can nominees claim it if the cardholder has died.
Ram Mandir Inauguration Holiday: Banks, insurance offices closed on January 22? Here is latest update
Ram Mandir Bank Holiday: Public sector banks, insurance companies, financial institutions, and regional rural banks will observe a half-day closure on January 22 due to the consecration ceremony of the Ram temple in Ayodhya. The Department of Personnel and Training issued an order for central institutions and industrial establishments, including public sector financial institutions and RRBs, allowing employees to participate in the Ram Lalla pran pratishtha celebration.
Cyber Monday marks the year's biggest online shopping day in the US
Even though e-commerce is now part and parcel of our everyday lives and much of the holiday shopping season, Cyber Monday -- a term coined back in 2005 by the National Retail Federation -- continues to be the biggest online shopping day of the year, thanks to the deals and the hype the industry has created to fuel it.
Top credit cards for online shopping with the most discounts, cashback
Top credit cards: ET Wealth Online lists credit cards for online shopping from the top banks in India (based on RBI’s data on credit cards outstanding as of September 2023 ).
Black Friday shopping! PSU insurance stocks rally up to 20%
Investors were buoyed by LIC's plans to launch 3-4 products over the coming months to push growth in its new business premium segment
Tesla launched its own car insurance. These drivers say it's a lemon.
Customer complaints against auto insurance companies aren’t uncommon. And there’s no way to know exactly how many have been made against Tesla Insurance and how its record compares with competitors’. That’s in part because regulators in some states where it does business – including California, Utah, Illinois and Virginia – consider details of complaints confidential.
Top credit cards with best cashback deals
Top credit cards: ET Wealth Online lists credit cards from the top banks in India offering the best cashback deals.
For SMBs, insurance can play a crucial role in ensuring business continuity: Rakesh Kumar, Square Insurance
In the event of unexpected events such as natural disasters, accidents or legal liabilities, insurance can help cover the costs, preventing severe financial setbacks that could otherwise cripple an SMB.
Shops in US are locking up everyday items like toothpaste, deodorant, and tissues: Read why
Retail thefts in the US have surged, causing concern among residents and disrupting the shopping experience. Instances of theft, often accompanied by violence, have led stores to lock up everyday items. The trend is not limited to New York City, with retailers nationwide reporting a sharp increase in thefts and violence. Some stores have resorted to locking up items behind transparent doors to deter shoplifters.
Probe on insurers over, Income Tax department finds alleged tax evasion of Rs 15,000 cr
Apart from the IT department, the insurers were also investigated by the Directorate General of GST Intelligence (DGGI). While the DGGI was probing them for fake input tax credit (ITC) claims, the tax department was investigating alleged tax evasion in violation of Insurance Regulatory and Development Authority of India (IRDAI) norms.
How top 9 MF portfolios look after March shopping spree
According to Chris Geczy, professor of finance, The Wharton School of the University of Pennsylvania: “Investment style is incredibly important because of the way that investing works. Both risk and reward are connected to style.”
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