31st March 2024 Daily Current Affairs
Banking & Finance
1. Banks’ GNPAs set to improve further to 2.1% by FY25: Care Rating
- Domestic rating agency Care Ratings said in the report, The gross non-performing assets (GNPA) of the Indian banking system are set to improve further to up to 2.1 per cent by the end of FY25.
- GNPAs are likely to come at 2.5-2.7 per cent in FY24 and will improve further to 2.1-2.4 per cent by the end of FY25.
- The rating agency also flagged a list of downside risks, which may result in its estimate not coming true.
Banking & Finance
2. IRDAI Has Approved the Establishment of Bima Sugam
- The Insurance Regulatory and Development Authority of India has approved the establishment of Bima Sugam, an online insurance marketplace.
- aimed at simplifying the process of buying, selling, and servicing insurance policies, as well as settling claims.
- Bima Sugam will serve as a single interface for customers, intermediaries, and agents, facilitating the buying and selling of insurance policies across insurers in various categories such as life, health, and non-life.
