Mumbai : The country’s largest bank State Bank of India (SBI) on Friday reported a net loss of Rs 4,876 crore for the June quarter hurt by higher provisions on account of wage revisions, treasury losses along with enhanced gratuity ceilings, even as the bank reported improvement in overall asset quality.
Mumbai: The State Bank of India will start the process of selling up to 4 per cent of its stake in joint venture SBI General Insurance Co, which is planning an initial public offering.
Pushan Mahapatra, an SBI veteran of 29 years, took over as SBI General Insurance Company’s MD and CEO on January 1, 2016. He offers his periscopic view on his company and the general insurance industry in an interview with Free Press Journal’s S Narayanan and R N Bhaskar.
After the announcement of Union Budget 2016–17, it seems car owners have some more to lose. The Insurance Regulatory and Development Authority of India (IRDA) is planning to increase the premium on car insurance as it incurs losses as per the current rate. The high rates are expected to be applicable from April 01, 2016.
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