Current Affairs - Finance

Bajaj General Insurance launched 'My Health Care Plan Edge+' (MHCP EDGE+) on May 18, 2026, as a comprehensive health indemnity insurance solution designed to provide flexible and extensive medical coverage. The plan offers sum insured options ranging from ₹5 lakh to ₹5 crore and includes innovative features such as the Smart Tenure facility, Age Shield Rider, and unlimited reinstatement of the sum insured for multiple claims. Additional benefits include global medical coverage, protection for non-payable hospital expenses, and lifetime renewability. The product aims to enhance financial security against healthcare costs while offering greater flexibility and long-term value to policyholders.

Liberty Mutual Insurance increased its stake in Liberty General Insurance Limited (LGI) to 74% on May 18, 2026, up from 55.40% held since September 2025. The move followed changes in India's foreign direct investment (FDI) regulations, which allowed greater foreign participation in the insurance sector. Liberty Mutual, one of the world's leading insurers, aims to use the additional capital to strengthen its retail and commercial insurance businesses in India and improve insurance penetration. The development highlights growing international investment in India's insurance industry and reflects confidence in the sector's long-term growth potential.

Viyona Fintech, a Hyderabad-based fintech infrastructure company, secured NPCI certification for its payment technology framework covering UPI Acquirer, UPI Issuer, IMPS, and Interoperable Banking Mobile Banking (IBMB) integrations. This certification enables the company to support merchant QR acceptance, customer-side UPI issuance, and real-time fund transfer services. The infrastructure is particularly aimed at improving interoperable mobile banking and strengthening rural banking solutions. NPCI, which operates major retail payment systems like UPI and IMPS, plays a critical role in India’s rapidly growing digital payments ecosystem and financial inclusion initiatives.

FinBox announced the launch of Atlas, an Artificial Intelligence-native lending infrastructure suite designed to transform the digital lending ecosystem. The platform significantly reduces loan processing time from nearly three weeks to just 24 hours by automating traditional lending operations. Atlas replaces manual workflows with AI-driven agents capable of handling borrower onboarding, document verification, and operational decision-making throughout the credit lifecycle. This innovation aims to improve efficiency, speed, and accuracy in digital lending services. The launch reflects the growing role of Artificial Intelligence in the fintech sector, where automation and data-driven systems are increasingly being used to streamline financial services and customer experiences.

Xflow launched India’s first compliant stablecoin-based cross-border payments infrastructure on May 14, 2026. The platform allows Indian businesses to accept international payments in stablecoins such as USDC and USDT and convert them into Indian Rupees through authorised banking channels. The system ensures regulatory compliance by conducting stablecoin transactions and off-ramping processes outside India, while only fiat currency enters the country through AD Category I banks. The platform mainly supports MSMEs, SaaS companies, and service exporters facing challenges in global payments. Xflow was co-founded by Anand Balaji and Ashwin Bhatnagar and is backed by investors such as Lightspeed, General Catalyst, and Stripe.