PERSONAL FINANCE


MDT/PTI 03 July 2012
The loan scheme aims to provide hassle free loans to the farmers without mortgage of land   Patiala: State Bank of Patiala (SBOP) said it has launched gold loan (Swarn Shakti) for farmers against the security of gold ornaments, reports PTI. The motive of the campaign is to enable...

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A leading Mumbai-based surgeon (who prefers to be anonymous) tells the inside story about the nexus between hospitals, insurers, pharma majors and Third Party Administrators (TPAs). Excerpts of the interview: Moneylife (ML): What are your views about health insurance in India? A....

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MDT/PTI 02 July 2012
The JV—India Mortgage Guarantee Corporation—will offer mortgage guarantees against borrower defaults on housing loans from mortgage lenders, which will help to expand access to housing in India   New Delhi: National Housing Bank (NHB) and three others have joined hands to form the...

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MDT/PTI 02 July 2012
The Kisan credit card is given to farmers for meeting comprehensive needs of their farm and household expenses   Bangalore: Canara Bank launched its new technology-enabled revised Kisan Credit Card Scheme (KCC Scheme) and distributed RuPay debit cards to farmers, reports PTI. The...

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MDT/PTI 02 July 2012
The credit cards Superia and Platinum have been designed to cater to the lifestyle, travel and other needs of doctors   Chandigarh: Private sector lender HDFC Bank rolled out credit cards for doctors to cater to medical fraternity's specific needs, as part of its plans to launch total...

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MDT/PTI 02 July 2012
CBDT said taxpayers with annual income of over Rs10 lakh will have to file their tax returns for FY12 online, however digital signature will not be mandatory for these people   New Delhi: People with annual income of over Rs10 lakh will have to file their tax returns for 2011-12...

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Today banks levy all kind of charges and penalties to bank depositors and account holders without any rhyme or reason. Are these charges justified? You withdraw your own deposit before the due date and you pay a penalty. You maintain a lower balance in your savings bank (SB) account and...

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The move will encourage the use of debit cards, especially at small merchants or service providers and location by way of lower merchant discount rate Mumbai: The Reserve Bank of India (RBI) on Thursday lowered the rate of commission that customers pay to merchants at the point of sale...

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The German bank has hiked its deposit rates for domestic and NRE depositors in the range of 1.10%-1.40 % for various tenors Deutsche Bank today hiked its deposit rates for domestic and NRE depositors in the range of 1.10%-1.40 % for various tenors, reports PTI. For domestic...

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CFTC said that Barclays had attempted to manipulate and made false reports concerning two global benchmark interest rates on numerous occasion and sometimes on a daily basis between 2005 and 2009 London: British baking major Barclays has agreed to pay 290 million pounds ($451 million)...

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An official spokesman said under the Rashtriya Swasthya Bima Yojana scheme, a smart card-based cashless health insurance cover of Rs30,000 per annum will be provided to a family of five Chandigarh: The Haryana government has decided in principle to bring domestic workers under the ambit...

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Around 3.5 lakh persons were enrolled under the Swastha Bima Yojana scheme, which entitles beneficiaries to get reimbursement of Rs30,000 for medical treatment from empanelled hospitals Birbhum district has been awarded by the West Bengal government for its performance in Swastha Bima...

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The combined first year premium of the public and private sector insurers during April-May 2012stood at Rs12,428.83 crore, up from Rs12,253.44 crore during the same period a year ago, IRDA said First year premium of the life insurance companies rose by a marginal 1.4% year during the...

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Moneylife Digital Team 28 June 2012
Life Insurance Corporation of India (LIC) has launched its first online product, Jeevan Akshay VI, an immediate annuity product. This existing offline product is now being offered online. The product entitles one to annuity from the year after the purchase under any one of the chosen seven...

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Moneylife Digital Team 28 June 2012
IDBI Federal Life Insurance launched the online version of its existing product Termsurance Seniors Insurance Plan. It is a whole life insurance plan with no medical tests and guaranteed acceptance for people in the age group of 50-85 years. The minimum sum assured (SA) is only Rs2,338 and...

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Moneylife Digital Team 28 June 2012
LIC Jeevan Vaibhav is a non-unit linked (traditional) single-premium policy. It is designed as an investment-oriented policy with the insurance cover of only about double your premium. This is far below the requirement of SA to be 10 times the premium for tax benefits at entry or exit of the...

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Moneylife Digital Team 28 June 2012
IRDA has imposed a record penalty of Rs1.18 crore on ICICI Pru Life for several serious violations including an unbelievable 11346% deviation in commission payable to India Infoline Insurance services in 2010-11. There were violations regarding corporate agency guidelines, paying more than...

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Gaurang Damani, social activist and founder of the NGO Karmayogi Prathistan, tells Raj Pradhan   ML: What is your view on IRDA’s draft guidelines on health insurance? GD: I would like to thank the Bombay High Court, Union of India and IRDA. They have accepted 80%-90% of what I had...

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Moneylife Digital Team 28 June 2012
Are highest NAV products on the way out? Are highest NAV life insurance products being banned, as reported? It still seems to be in limbo. At a Moneylife Foundation event, J Hari Narayan, chairman IRDA told the media, “We have issued an exposure draft. We are considering prohibition of...

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Moneylife Digital Team 27 June 2012
The online application process involves verification of key customer details such as Permanent Account Number, mobile number, email ID and credit history through CIBIL, and other internal eligibility criteria   New Delhi: Standard Chartered Bank said it has launched an instant online...

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