India’s insurance regulator, IRDAI, has issued a show cause notice to Care Health Insurance, a subsidiary of Religare Enterprises, regarding the grant of stock options to Rashmi Saluja, who serves as the chairperson of Religare. The notice alleges that Care Health Insurance violated IRDAI directions by issuing stock options to Saluja despite prior refusal in May 2022. Saluja, an executive chairperson at Religare, was granted these options as an employee, though she is a non-executive director at Care.
RBI rate cut to pressure bank margins, NBFCs brace for liquidity strain
RBI’s 25-bps rate cut, its first in five years, pressures private banks’ NIMs while public banks remain stable. NBFCs may see funding relief, but liquidity
February 10, 2025