The GST Council’s move to exempt retail health and life insurance from 18% tax will lower premiums, boost affordability, and accelerate penetration, positioning insurers for stronger growth despite short-term transition disruptions and ITC-related adjustments.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.