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Mumbai: With the government-backed digital insurance marketplace Bima Sugam set to debut in a few months, industry leaders expect it will be a game-changer for a crucial sector that’s vastly under-penetrated in India. At the Mint BFSI Summit and Awards 2025 in Mumbai on Friday, industry executives outlined the transformative potential of Bima Sugam, expecting…
The Reserve Bank on Wednesday proposed changes to rules governing banks’ foreign exchange positions. The amendments to net open position (NOP) were made following a comprehensive review of the existing instructions, according to an official statement. NOP refers to the difference between banks’ total foreign currency assets and liabilities, revealing their exposure to currency fluctuations…
Based on the HSBC Flash India Composite Output Index, the private sector saw robust business activity. (AI image) Business activity in India moderated in December, with the HSBC PMI Composite Index that measures India’s manufacturing and service sectors’ combined output, came in at 58.9, dropping from November’s 59.7. Despite this reduction, the index remained significantly…
