Equirus Raghnall Insurance Broking Director Amit Goel

Equirus Raghnall Insurance Broking, a part of Equirus Group, is eyeing a 35 per cent growth in its revenue during the current financial year as commercial and specialty lines are expected to continue a healthy momentum.

“Over the last couple of years, we have seen steady expansion in both our client base and premium volumes placed. Currently we work with around 200 mid-market corporates and 600 MSMEs across seven States in India and place close to ₹300 crore in annual premiums,” Equirus Raghnall Insurance Broking Director Amit Goel told businessline.

The insurance broker and risk advisor has largely been focussing on strengthening relationships with mid-market and SME clients rather than pursuing growth purely through scale. “We work across a diversified portfolio of clients spanning manufacturing, infrastructure, financial services, healthcare, logistics and emerging sectors such as renewable energy and technology,” Goel said.

“We remain cautiously optimistic about growth in the current fiscal with an expected 35 per cent growth in revenue numbers. The overall insurance market in India continues to see healthy momentum, particularly in commercial and specialty lines, and we expect our business to grow broadly in line with or slightly ahead of industry growth,” he added.

Some of the key segments driving growth for Equirus Raghnall include infrastructure, renewable energy, financial institutions, healthcare, cyber insurance and liability-related covers. It is also seeing increasing traction in employee benefits and specialty risk advisory services.

As a broking firm, its approach has been less about chasing market share numbers and more about building domain expertise and long-term client relationships, the director pointed out, adding it believes there is significant headroom for growth in India’s commercial insurance market, especially as insurance penetration remains relatively low compared to global benchmarks.

“Going forward, we expect growth to come from sectors where businesses are becoming more conscious of balance sheet protection, business interruption exposures, cyber risks and evolving regulatory requirements,” Goel added.

Published on June 12, 2026

The Bank is allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions
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The Reserve Bank of India has placed Mogaveera Co-operative Bank Ltd., Bombay, under Directions for six months, whereby, from the close of business on June 12, 2026, it cannot, without RBI’s prior approval, grant or renew any loans and advances, make any investment, incur any liability including borrowing funds and accepting fresh deposits.

Considering the bank’s present liquidity position, the bank has been directed to permit withdrawal of a sum not exceeding ₹1 lakh from savings bank or current accounts or any other account of a depositor, per a Central bank statement. The Bank is allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions.

Further, the bank may incur expenditure in respect of certain essential items such as salaries of employees, rent, electricity bills, etc., as specified in the said Directions.

The central bank said eligible depositors would be entitled to receive deposit insurance claim amount of their deposits up to a monetary ceiling of ₹5 lakh in the same capacity and in the same right, from the Deposit Insurance and Credit Guarantee Corporation (DICGC), as applicable under the provisions of the DICGC Act, 1961, based on submission of willingness by the depositors concerned and after due verification.

RBI said without its permission, the bank cannot disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Directions dated June 11, 2026.

“RBI continuously engaged with the Board and senior management of the bank for improvement in its functioning. However, lack of concrete efforts by the bank to address the supervisory concerns and to protect the interest of depositors of the bank, necessitated issuance of these Directions,” per RBI statement.

The central bank emphasised that the issue of the above Directions by the RBI should not per sebe construed as cancellation of the banking license.