NCMSL-Central Bank tie up for mgmt
National Collateral Management Services said on Friday it has entered into a strategic partnership with Central Bank of India for collateral management and warehousing services. The objective of these services will be to assist industries, traders and farmers in financing their capital requirements at all stages of the supply chain, ranging from pre-harvesting to the marketing and export stages, NCMSL said in a release.
Tata AIA Life starts online term plan
Tata AIA Life Insurance (Tata AIA Life) launched an online term insurance plan ‘iRaksha Supreme’ with coverage up to 80 years especially catering to needs of working women. “Studies show that India has a protection gap of over $6.67 trillion (about R374 lakh crore). “This implies that for every R100 that needs to be spent on life insurance cover, we spend R7.4, leading to a gap of 92.6% in our family’s financial protection," Tata AIA Life MD and CEO Suresh Mahalingam said in a release.
RBI may cut rates in coming months
RBI may lower its benchmark interest rates in the coming months as inflation has eased, pursuant to which banks may also lower their rates to some extent to pass on the benefit to customers, top banker Chanda Kochhar said. “With inflation easing, I think that we would see policy rate cuts in the coming months," said ICICI Bank MD and CEO told PTI in an interview here. She said RBI has already in its last policy statement, indicated monetary policy easing in the fourth quarter of the current fiscal.