Category: news

Banking Charges Put the Spotlight on Customer Costs as Fees Cross INR 26,000 Crore

New Delhi, July 29: Banks collected ₹26,170 crore in minimum balance charges between FY23 and FY26, according to government data, highlighting the growing conversation around account-related fees and their impact on customers.

The charges were collected from account holders who were unable to maintain the minimum balance requirements specified by their banks. While banks consider these fees an important part of covering account management and service costs, the issue has sparked discussions about affordability and accessibility of banking services.

For many customers, especially those managing tight household budgets, unexpected account charges can add financial pressure. Consumer advocates have emphasized the importance of transparent communication, timely alerts, and greater awareness about account requirements to help customers avoid penalties.

In recent years, banks have expanded zero-balance accounts and basic banking services to encourage wider financial inclusion and bring more people into the formal banking system.

Industry experts believe that as digital banking continues to grow, maintaining a balance between bank operations and customer-friendly practices will remain crucial. Clearer policies, improved customer awareness, and accessible banking options can help strengthen trust between financial institutions and account holders.

The latest data has renewed the focus on making banking services more transparent, inclusive, and responsive to the needs of everyday customers.

West Asia Tensions Pose Fresh Challenges for Indian Trade, Exporters Face Rising Costs

Mumbai, July 29: Escalating tensions in West Asia and potential disruptions at critical global shipping routes could increase costs for Indian exporters and importers, affecting freight rates, marine insurance premiums, and supply chain operations, according to a report by CareEdge Ratings.

The report highlighted that prolonged uncertainty around the Strait of Hormuz and the Red Sea could pose significant challenges for businesses, particularly small and medium-sized enterprises that have limited flexibility to absorb higher expenses.

The Strait of Hormuz plays a vital role in India’s energy security, with a large share of the country’s crude oil imports and key energy supplies such as LNG and LPG passing through the route. Any disruption could lead to higher global oil prices, increased production costs, and added inflationary pressure.

The report noted that simultaneous disruptions across major maritime chokepoints could create further strain on global trade networks. Longer shipping routes, including diversions around the Cape of Good Hope, may increase transit times by several weeks while adding to logistics and transportation expenses.

Rising energy costs and supply chain disruptions could weigh on industries dependent on imported raw materials and fuel. While larger companies with diversified supply chains may be better positioned to manage the impact, smaller exporters and importers could face pressure on profit margins, cash flows, and working capital requirements.

Experts believe businesses may need to strengthen supply chain resilience, diversify sourcing options, and adopt proactive risk management strategies to navigate ongoing geopolitical uncertainties.

The evolving situation in West Asia remains a key factor for global trade and energy markets, with potential implications for India’s economic outlook and business environment.

Income Tax Department Urges Early ITR Filing as July 31 Deadline Nears

New Delhi, July 29: With the July 31 deadline for filing Income Tax Returns (ITRs) fast approaching, the Income Tax Department has urged taxpayers to complete the process without waiting until the last minute and to carefully reconcile all financial records before submitting their returns.

The advisory comes as several taxpayers have reported intermittent technical issues on the department’s e-filing portal in recent days. As filing activity is expected to peak closer to the deadline, officials have advised taxpayers to file early to avoid potential delays caused by heavy traffic or temporary system slowdowns.

To ensure accurate filing, taxpayers are encouraged to verify key documents, including Form 26AS, the Annual Information Statement (AIS), salary details, bank statements, and investment records. Those who have not received Form 16 can still file their returns by using monthly salary slips, TDS details, and other financial documents to calculate their taxable income and claim eligible deductions.

The department has also reminded taxpayers to choose the correct ITR form, review all pre-filled information carefully, pay any outstanding tax liability, and complete the mandatory e-verification process after filing.

As the deadline draws closer, tax experts recommend avoiding the last-minute rush, which can increase the risk of portal congestion, filing errors, and delayed submissions. Filing early not only helps ensure a smoother experience but also provides sufficient time to rectify any discrepancies, if required.

The Income Tax Department’s advisory underscores the importance of timely compliance, encouraging taxpayers to complete their returns well before the deadline for a hassle-free filing experience.

Bhogapuram Airport to Handle Flights from Aug. 17

Visakhapatnam, July 29: Commercial flight operations will shift from Visakhapatnam Airport to the newly developed Bhogapuram International Airport starting August 17, marking a major upgrade to the region’s aviation infrastructure.

The transition is expected to improve passenger connectivity, increase airport capacity, and support future growth in air travel. Travelers flying on or after August 17 are advised to confirm their departure airport with their respective airlines before their journey.

The launch of commercial operations at Bhogapuram International Airport is expected to strengthen regional connectivity and contribute to the economic development of Andhra Pradesh.

Historic week begins as PGA TOUR Champions arrives in Portugal

From left to right: Turismo de Portugal President Carlos Abade; Mayor of Loulé Telmo Pinto; Arrow Global Co-Founder and Head of Real Estate and Hospitality John Calvão; Vilamoura World and Vilamoura Marina CEO Isolete Correia; Portugal’s Secretary of State for Tourism Pedro Machado; Turismo do Algarve President André Gomes; World Golf Hall of Fame member Ernie Els; and PGA TOUR Champions President Miller Brady, pictured with the Portugal Invitational trophy at The Els Club Vilamoura. | Credit: Portugal Invitational

Vilamoura, Algarve, July 29 – Tournament week for the inaugural Portugal Invitational kicked off today at The Els Club Vilamoura, as leaders from golf, tourism and government gathered for the event’sintroductory press conference ahead of the first-ever PGA TOUR Champions event to be staged in Europe.

The occasion brought together Portugal’s Secretary of State for Tourism, Pedro Machado; Turismo de Portugal President, Carlos Abade; Turismo do Algarve President, André Gomes; Mayor ofLoulé, Telmo Pinto; PGA TOUR Champions President, Miller Brady; World Golf Hall of Fame member, Ernie Els; Arrow Global Co-Founder and Head of Real Estate and Hospitality, John Calvão; and Tournament Director, Todd Rhinehart, reflecting the broad institutional and sporting support behind the inaugural event.

The Portugal Invitational is the first PGA TOUR Champions event to be staged in Europe and the first PGA TOUR-sanctioned individual stroke play tournament held in Portugal.From Friday, 31 July to Sunday, 2 August, a 78-player field featuring PGA TOUR Champions and Legends Tour members will compete over 54 holes for a purse of $3 million.

John Calvão, Co-Founder and Head of Real Estate and Hospitality at Arrow Global, said:“Seeing the Portugal Invitational become a reality is a proud moment for everyone involved. We couldn’t have asked for a better field, and the course is in tremendous shape. This event is an important part of our vision to showcase Portugal, the Algarve and Vilamoura, and I truly believe it is going to be a great week.”

 

World Golf Hall of Fame member Ernie Els pictured with the Portugal Invitational trophy at The Els Club Vilamoura. | Credit: Portugal Invitational

Miller Brady: “Bringing the first-ever PGA TOUR-sanctioned event to Portugal was aneasy decision. We knew we had tremendous partners in Turismo de Portugal and Arrow Global, and it has been fantastic to see the event come to life. The strength of the field this week, with five World Golf Hall of Fame members and more than 470 professional victories between the players, underlines the quality of the competition. This is a special week for PGA TOUR Champions, and we believe it will continue to grow year after year.”

Ernie Els, World Golf Hall of Fame member and designer of The Els Club Vilamoura and competing this week in the tournament, said: “This has been a real team effort from the beginning, and I’m incredibly proud to see everything come together. I’ve known and loved this area for more than 20 years, so to have the opportunity to create a championship golf course here, while also making it enjoyable for members and players of every level, has been very special. I’mvery excited about what this event can become over the coming years.”

André Gomes, President of Turismo do Algarve, said:“Hosting the European debut of PGA TOUR Champions is a major milestone for the Algarve and a strong recognition of our region as one of the world’s leading golf destinations. This event brings together sport, tourism and international promotion, while showcasing everything the Algarve has to offer on and off the golf course.”

Carlos Abade, President of Turismo de Portugal, said: “We immediately recognised the potential of this tournament to strengthen Portugal’s international profile in highly valuable tourism markets. Golf is a strategic tourism product for Portugal, helping to attract visitors throughout the year, and this event represents an extraordinary opportunity to showcase Portugal and the Algarve across key international markets.”

Telmo Pinto, Mayor of Loulé, said: “Hosting the inaugural Portugal Invitational is a significant moment for Loulé and Vilamoura. It demonstrates the quality of our sporting and tourism infrastructure and will generate valuable international exposure for the municipality and the wider region.”

Pedro Machado, Portugal’s Secretary of State for Tourism, said: “This event is excellent news for both the Algarve and Portugal. More than the impressive figures, an audience of around 80 million viewers in over 170 countries, and an estimated economic impact of 45 million euros, it represents a unique opportunity to showcase Portugal to a highly qualified international audience, highlighting our quality of life, gastronomy, safety, climate, and the excellence of our tourism offer.”

The Portugal Invitational forms part of a five-year partnership between PGA TOUR Champions, Arrow Global Group, Turismo de Portugal and Turismo do Algarve.

The event will be contested at The Els Club Vilamoura, designed by Els as a championship venue and prepared to welcome many of the most accomplished and recognisable players in the game.

The event has also attracted a strong and diverse group of partners, underlining the interest generated ahead of its inaugural edition. Arrow Global, Vilamoura, Visit Portugal and Visit Algarve are joined by Mercedes-Benz, Kress, Reflo, Dils, Deloitte, Lusíadas Saúde, Loulé, Heritage Wines, Heineken, Nespresso, Pacheca, Vista Alegre and InfraMoura.

Media partners include SIC Notícias, Expresso, Sport TV and JCDecaux. Their support provides a strong platform for the tournament’s debut and helps build momentum for the continued growth of the Portugal Invitational in the years ahead.

All three rounds will be televised in the United States on GOLF Channel. International PGA TOUR Champions coverage is available in more than 170 countries and territories through the Tour’s network of media partners.

The first round begins this Friday, 31 July, with the inaugural Portugal Invitational champion set to be crowned on Sunday, 2 August.

Department of Culture and Tourism – Abu Dhabi Announces 11 December 2026 Opening of Guggenheim Abu Dhabi

A Landmark Museum Rooted in the United Arab Emirates and Shaping Global Artistic Dialogue

• Guggenheim Abu Dhabi will connect cultures, inspire people, and celebrate art from the 1960s to the present
• The museum brings new perspectives to modern and contemporary art, shining a light on artists from around the world.
• Once open, the museum will reinforce its status as one of the most significant museum developments globally

ABU DHABI, UAE, July 28, 2026 /PRNewswire/ — The Department of Culture and Tourism – Abu Dhabi has announced that Guggenheim Abu Dhabi will open its doors on 11 December 2026, further strengthening Abu Dhabi’s position as a leading global capital for the arts.

Guggenheim Abu Dhabi is a museum of modern and contemporary art and will be a space for encounter and exchange, promoting a more connected and diverse global community through art. The museum has a unique identity and vision, shaped by Abu Dhabi’s artistic landscape and designed to reflect the United Arab Emirates’ stories and beyond, encouraging curiosity among younger generations about modern and contemporary art.

The museum joins a growing community of museums and cultural institutions in Saadiyat Cultural District, including Louvre Abu Dhabi, Zayed National Museum, Natural History Museum Abu Dhabi, and teamLab Phenomena Abu Dhabi, positioning the district as one of the world’s most significant concentrations of cultural institutions. Part of the Guggenheim constellation of museums in New York, Venice, and Bilbao, Guggenheim Abu Dhabi brings a distinct identity shaped by Abu Dhabi’s legacy, in a region that has been at the crossroads of culture and trade for millennia.

His Excellency Mohamed Khalifa Al Mubarak, Chairman of Department of Culture and Tourism – Abu Dhabi, said: “Guggenheim Abu Dhabi is a defining moment in our cultural journey. The museum is shaped by the emirate’s long-held conviction that culture is the most enduring bridge between peoples and a building block for forward-looking societies. It brings new perspectives to modern and contemporary art, shining a light on art from all around the world. As a key element of Saadiyat Cultural District, the museum will create transformative new opportunities for learning, creativity, and cultural exchange, inspiring future generations to explore their own potential. Here, everyone belongs and can see themselves reflected in the stories the museum tells, engaging with ideas and artistic voices from across the world.”

Dr. Mariët Westermann, Director and CEO of the Solomon R. Guggenheim Foundation, said: “The Guggenheim Foundation is proud and delighted to be a longstanding partner with the Department of Culture and Tourism – Abu Dhabi in shaping a museum of contemporary art of magnificent scope and aspiration. The museum’s art collection is uniquely local and global, centred in the region but with works from all continents. Through the many stories it will tell and invite, Guggenheim Abu Dhabi will be a source of wonder, a hub of connection, and a place of curiosity and joy for people from the United Arab Emirates and the world.”

Envisioned as a platform for dialogue, the museum brings together diverse perspectives across geographies and generations through modern and contemporary art. Spanning a wide range of artistic media including painting, sculpture, installation, photography, moving image, and new media, the museum presents art as a dynamic and evolving conversation across time and place.

Guggenheim Abu Dhabi reflects Abu Dhabi’s role as a catalyst for artistic innovation and creative production, fostering meaningful connections between artists, ideas, and audiences. Placing the visitor at the centre, the museum offers an open exploratory experience, where each journey unfolds across interconnected narratives of time, place, and theme.

Designed by the late Pritzker Architecture Prize Laureate Frank Gehry, the museum is located on Saadiyat Island in Abu Dhabi, a meeting point between land and sea. A rooted architectural landmark that will offer a new perspective and invite visitors to be part of the curatorial journey of the museum.

Extending the visitor journey through interconnected spaces, the architecture of Guggenheim Abu Dhabi is an integral part of the artistic experience. The museum is designed to impress at every level, delivering a powerful presence externally and an immersive experience within. The building features 30 galleries that unfold across the interior, connected by a central atrium and ten sculptural cones that punctuate the building’s dynamic skyline. Nine are clad in stainless steel mesh and one in onyx and glass.

Reaching heights of up to 88 metres, the sculptural cones provide natural ventilation and shade, enhancing the building’s energy efficiency while articulating its bold silhouette. Spanning 11,600 square metres of interior gallery space and 23,000 square metres of outdoor exhibition areas, the landmark encompasses a total built-up area of 80,000 square metres, reinforcing its role as one of the most significant museum developments, suited to the impressive size, variety of media, and experimental character of art since 1960.

Since 2009, Guggenheim Abu Dhabi has been building a growing collection of modern and contemporary art that will reflect and advance Abu Dhabi’s role as a catalyst for creative production and innovation in the arts. Guests will be invited to engage with art on their own terms, shaping individual pathways through galleries that consider major vectors of art since 1960, such as Abstractions, Popular Culture, Land, Language, and Storytelling.

The displays unfold connections across geographies, generations, and artistic practices, and will provide dynamic frameworks for understanding the art of our own time as a source of knowledge, expression and connection while inviting visitors to explore art history through relationships and resonances rather than a linear chronology.

A landmark for Abu Dhabi and the world, the museum will deepen understanding, expand perspectives, and offer new ways to engage with the art of our time, positioning Abu Dhabi at the forefront of global artistic production, discourse, and exchange. More information about the collection and commissions will be announced in the coming months.

Public programming is active and ongoing across the United Arab Emirates. You can join our Guggenheim Abu Dhabi community here.

NOTE TO EDITORS

A full press kit and high-res images are available to download HERE

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REGISTER YOUR DETAILS TO RECEIVE FUTURE ANNOUNCEMENT

https://guggenheimabudhabi.ae/en 

ABOUT GUGGENHEIM ABU DHABI

Guggenheim Abu Dhabi is a museum of modern and contemporary art that connects cultures, inspires people, and celebrates art from the 1960s to the present, shining a light on artists from around the world. The museum will offer new perspectives on modern and contemporary art from an Abu Dhabi lens through its collection, commissions, research, exhibitions, and multilingual programme. 

Aiming to reflect a transcultural approach, the museum moves beyond chronology and geography to highlight artistic lineages, networks and exchanges. The collection spans a wide range of artistic media, including painting, sculpture, installation, photography, moving image, and new media.

Guggenheim Abu Dhabi places the visitor at the centre of a journey of encounter and exchange with modern and contemporary art. Visitors will be able to navigate their own path of discovery through the museum’s galleries of interconnected time periods, geographies, and themes.

Guggenheim Abu Dhabi is the result of a visionary collaboration between the Department of Culture and Tourism – Abu Dhabi and the Solomon R. Guggenheim Foundation.

Located in the heart of Saadiyat Cultural District, overlooking the sea and designed by acclaimed architect Frank Gehry, Guggenheim Abu Dhabi is an iconic landmark inspired by the architectural forms of the Gulf region. The museum has a total of 11,600 square metres spread across 30 galleries, in addition to 23,000 square metres of exterior exhibition spaces in the cones and terraces surrounding the building.

ABOUT DEPARTMENT OF CULTURE AND TOURISM – ABU DHABI

The Department of Culture and Tourism – Abu Dhabi drives the sustainable growth of Abu Dhabi’s culture and tourism sectors, fuels economic progress and helps achieve Abu Dhabi’s wider global ambitions. By working in partnership with the organisations that define the Emirate’s position as a leading international destination, Department of Culture and Tourism – Abu Dhabi strives to unite the ecosystem around a shared vision of the Emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture and tourism industries.

Department of Culture and Tourism – Abu Dhabi’s vision is defined by the Emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.

For more information about the Department of Culture and Tourism – Abu Dhabi and the destination, please visit: dctabudhabi.ae and visitabudhabi.ae and abudhabiculture.ae

ABOUT THE SOLOMON R. GUGGENHEIM FOUNDATION

The Solomon R. Guggenheim Foundation was established in 1937 and is dedicated to promoting the understanding and appreciation of modern and contemporary art through exhibitions, education programs, research initiatives, and publications. Committed to innovation, the Solomon R. Guggenheim Foundation collects, preserves, and interprets modern and contemporary art, and explores ideas across cultures through dynamic curatorial and educational initiatives and collaborations. With its constellation of architecturally and culturally distinct museums, exhibitions, publications, and digital platforms, the foundation engages both local and global audiences. The international constellation of museums includes the Solomon R. Guggenheim Museum, New York; the Peggy Guggenheim Collection, Venice; the Guggenheim Museum Bilbao; and Guggenheim Abu Dhabi. To learn more about the museum and the Guggenheim’s activities around the world, visit guggenheim.org.

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Centre Regulates Sugar Stocks to Ensure Smooth Market Availability

New Delhi, July 28: The Centre has introduced stock holding limits for sugar dealers from August 1 to November 30 to ensure steady market supply and prevent unnecessary price fluctuations.

The move is aimed at improving monitoring of sugar availability and preventing excessive stock accumulation by traders during the specified period.

Sugar dealers will be required to maintain stocks within the prescribed limits and provide necessary details as per government guidelines.

Officials said the measure will help maintain a balance between supply and demand while protecting consumer interests and ensuring stability in the sugar market.

The government will continue to monitor market conditions and take appropriate steps to maintain smooth availability of sugar across the country.

1inch launches Aqua to the public, introducing the first shared liquidity layer for DeFi

• Following its developer launch in November 2025, Aqua now offers a risk-controlled alternative to DeFi’s pool-based model.
• 1inch unveils a Merkl-powered liquidity incentive program for Aqua, funded with 10 million 1INCH by the 1inch Foundation and 500k USDC from 1inch DAO.
• Aqua goes live across 13 EVM chains from day one.

ROAD TOWN, British Virgin Islands, July 28, 2026 /PRNewswire/ — 1inch, the leading DeFi ecosystem, announces the full public launch of Aqua, a self-custodial shared liquidity layer that enables liquidity providers to use the same wallet balance across multiple positions without locking assets in liquidity pools.

Following its developer launch in November 2025, Aqua today offers one of the first risk-controlled alternatives to DeFi’s traditional pool-based model, enabling more capital-efficient liquidity provisioning.

1inch Aqua works as a registry: a user connects their wallet to approve a token balance and create liquidity positions that can access that balance. The Aqua protocol tracks that balance, and when it receives a swap order that meets the criteria of the position, it pulls the requested tokens from the wallet and pushes back received tokens and fees in a single atomic transaction. Otherwise, the user’s tokens remain in their wallet and completely under their control.

“The liquidity provisioning space is broken, but you only see how broken once there’s an alternative. Today, that alternative has arrived. With Aqua, liquidity providers no longer have to accept the inefficient pool structure they’ve put up with for years,” said Sergej Kunz, 1inch co-founder. “DeFi doesn’t just need more liquidity. It needs more useful liquidity, active wherever demand appears. We built Aqua so providers get that reach without giving up custody: your tokens stay in your wallet until the moment a swap fills.”

Alongside the product launch, 1inch Network Incentives goes live — a liquidity reward program for Aqua, led by Degensoft Ltd (BVI) and delivered through Merkl. The 1inch Foundation has committed 10 million 1INCH in provider rewards, and a further 500,000 USDC boost from the 1inch DAO. The initiative is designed to accelerate liquidity growth and swap activity across supported pairs. As a result, liquidity providers not only benefit from Aqua’s improved experience but also have the opportunity to earn additional rewards. Program terms, markets and safeguards are set out in the published campaign configuration.

According to 1inch, the current pool based system is a major limiting factor on DeFi’s ability to scale and bring TradFi capital on chain. For liquidity providers, the current model of depositing into pools means handing over custody, while active capital gets spread thin across protocols, pairs and price ranges. The scale of the problem is stark: per on-chain research by Dune commissioned by 1inch, 85% of concentrated liquidity across major DEXs was underutilized in H1 2026, roughly $1.6 billion of the $1.84 billion tracked. That includes about $542 million sitting fully out of range in an average week, resulting in an estimated $150 million in fees foregone per year.

Through Aqua, 1inch is showcasing a more efficient model for shared liquidity, allowing the same wallet balance to back multiple positions simultaneously. Unlike the traditional model, where liquidity must be split across multiple pools and positions, Aqua enables a single balance to support multiple quotes at once. For example, a $100,000 balance can support three positions collectively quoting $300,000 of liquidity, with the potential to quote more. The underlying tokens remain available to every position at all times; nothing is borrowed, and any swap can only execute against the assets actually held in the wallet.

A position on Aqua can be full range, concentrated or pegged, depending on the selected pair and position type. A user can open and close positions themselves, with no lock-up. Their exposure is capped by the tokens they actually hold, not by the theoretical combined size of every position they create. If their wallet cannot cover a swap, Aqua simply does not call on their tokens.

From today, users can create positions across 13 EVM chains, including Ethereum, Arbitrum, Base, Robinhood Chain and BNB Chain. Aqua also launches with a number of additional functionalities, including a liquidity leaderboard, an incentives screen, liquidity map visualizations, batch position creation, provider profiles with cross-chain positions, sub-wallets, and an AI-assisted liquidity provisioning flow via the 1inch Business MCP with safe batch deployment, coming soon.

Aqua has undergone eight independent security audits conducted by OpenZeppelin, Bailsec, Hashlock, Hexens, MixBytes, Nethermind, Theori, and Decurity. Combined with its fully self-custodial design, which never holds user tokens, a swap can only move assets that are actually in the provider’s wallet at the moment it fills. Revocation stops new fills as soon as it confirms on-chain. Aqua is also protected from JIT fee sniping by design, as each position has a single owner, thus there is no shared fee moment bots can capitalize on. While Aqua’s design keeps exposure bounded and providers in control of their own tokens, swap fees are not guaranteed, prices can move against a position (impermanent loss), and providers bear market and smart-contract risk.

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About 1inch

1inch accelerates decentralized finance with a seamless crypto trading experience for 27M users. Beyond being the top platform for low-cost, efficient token swaps with $100M+ in daily trades, 1inch offers a range of innovative tools, including a secure self-custodial wallet, a portfolio tracker for managing digital assets, a dedicated business portal giving access to its cutting-edge technology, and even a debit card for easy crypto spending. By continuously innovating, 1inch is simplifying DeFi for everyone.

Website | 1inch Business | 1inch Network | Follow on X | Explore Blog

Aqua involves risk, including loss of funds. It’s built for experienced users — do your own research. Not financial advice. Incentive rewards are variable, not guaranteed, and subject to the program’s published terms.

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SBI Life Insurance registers New Business Premium of ₹8,908 crores for the period ended on 30th June, 2026

MUMBAI, India, July 28, 2026 /PRNewswire/ — SBI Life Insurance, one of the leading life insurers in the country registered a New Business Premium of ₹8,908 crores for the period ended on 30^th June, 2026 vis-a-vis ₹7,268 crores for the period ended 30^th June, 2025. Regular premium has increased by 40% over the period ended on 30^th June, 2025.

Establishing a clear focus on protection, SBI Life’s protection new business premium stood at ₹1,958 crores for the period ended 30^th June, 2026, marking a growth of 100%. Protection Individual new business premium registered a growth of 22% and stood at ₹202 crores for the period ended 30^th June, 2026. Individual New Business Premium stands at ₹5,613 crores with 14% growth over the period ended on 30^th June, 2025.

SBI Life’s profit after tax stands at ₹725 crores for the period ended 30^th June, 2026 with a growth of 22% over the period ended on 30^th June, 2025.

The company’s solvency ratio continues to remain robust at 1.96 as on 30^th June, 2026 as against the regulatory requirement of 1.50.

SBI Life’s AUM also continued to grow at 10% to ₹5,24,850 crores as on 30^th June, 2026 from ₹4,75,813 crores as on 30^th June, 2025, with the debt-equity mix of 60:40. 94% of the debt investments are in AAA and Sovereign instruments.

The company has a diversified distribution network of 3,71,935 trained insurance professionals and wide presence with 1,241 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, Point of sale persons (POS), insurance marketing firms, web aggregators and direct business.

Performance for the period ended June 30, 2026

• Private Market leadership in Individual New Business Premium and Individual Rated Premium with market share of 24.9% & 22.2% respectively.
• Annualized Premium Equivalent (APE) stands at ₹ 5,379 crores with growth of 36%
• Total New Business Sum Assured stands at ₹ 8,50,025 crores with 211% growth
• Improvement in 13M & 49M persistency by 61 bps & 68 bps respectively
• Value of New Business (VoNB) stands at ₹ 1,408 crores with growth of 29%
• VoNB Margin stands at 26.2%
• Indian Embedded value (IEV) stands at ₹ 85,293 crores with 15% growth
• Profit After Tax (PAT) stands at ₹ 725 crores with 22% growth
• Robust Solvency ratio of 1.96
• Assets under Management stands at ₹ 5,24,850 crores with 10% growth

Disclaimer

Except for the historical information contained herein, statements in this release which contain words or phrases such as ‘will’, ‘expected to’, etc., and similar expressions or variations of such expressions may constitute ‘forward-looking statements’. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in demand for insurance and other financial products and services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. SBI Life Insurance Company Limited undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.

This release does not constitute an offer of securities.

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