PERSONAL FINANCE


The introduction of white label ATMs will not be an unmixed blessing, unless RBI keeps a tight vigil over their operations. Whether they will prove white elephants or not will depend on what safety precautions will be mandated by RBI to be complied with by all the stakeholders The Reserve...

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Jeevan Vriddhi is designed to attract money from the tax-savers who are desperately seeking avenues to park up to Rs1 lakh. While there are other similar plans in the market, it is LIC’s product that will command attention because of its muscle power Life Insurance Corporation of India (LIC)...

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HDFC, Axis and ICICI Bank offer less than the minimum savings rate interest (4% p.a.) for fixed deposits with a tenor less than 15 days. Do you wish to sign-up for a 7-14 day FD from Kotak Mahindra bank at 0% p.a.? Who is the target customer segment for these products? It may sound strange,...

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Moneylife Digital Team 02 March 2012
Sahara Life Insurance had several investment issues but IRDA has not pressed charges after getting clarifications from the insurer. Sahara Life Insurance needs to make several changes to comply with the regulations The Insurance Regulatory and Development Authority (IRDA) had many...

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Moneylife Digital Team 01 March 2012
Sahara Life Insurance has been caught for several violations which resulted in a Rs12 lakh penalty. There were 23 issues raised by IRDA, for which Sahara was let off leniently. Did Sahara Life Insurance get away too easily? The Insurance Regulatory and Development Authority (IRDA) has...

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Moneylife Digital Team 01 March 2012
Axis Bank said sales and usage volumes for its travel currency card used for international travel have crossed $2 billion. The Bank claimed that it holds 48% market share in the segment; this was the first time anywhere in the world that any bank has crossed $2 billion in sales for such a card....

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Bharti AXA new online term plan iProtect has been renamed as eProtect. The obvious reason for it seems to be clash of name with ICICI Pru iProtect. It got the plan name approved from IRDA, then why was it renamed? Why did it even take up the same name in the first place? Bharti AXA Life has...

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Max Bupa’s Heartbeat High Deductible plan is only the second of its kind in the market after United India’s super top-up medicare. The product is attractively priced and will appeal to a specific market segment Max Bupa Heartbeat High Deductible Policy is a super top-up policy, which will...

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The move by the insurance regulator is in the interest of customers as it would bring transparency in the way insurance is pushed by intermediaries. Many times the customer does not even know the insurance company’s name whose product he may be forced to buy Insurance Regulatory and...

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Moneylife Digital Team 23 February 2012
Banks are concerned as non-performing assets in education loans are as high as 6%. Meanwhile, SBI, largest public sector lender, announced an interest rates cut on education loans up to 1%  The committee constituted by the Reserve Bank of India (RBI) to re-examine the existing...

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Moneylife Digital Team 22 February 2012
Rethink on Single Premium IRDA is not happy with insurance companies’ increasing focus on single-premium products which has wider acceptability with customers. Even with ULIP business steadily going down by 17% over one year, single-premium products did well. IRDA wants to re-emphasise...

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Moneylife Digital Team 22 February 2012
Will help bring consistency in claims payment IRDA (Insurance Regulatory and Development Authority) will issue detailed rules on claims settlement for health insurance companies by 30 April 2012. This comes after the recent Bombay High Court order asking IRDA to draft regulations on claim...

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Moneylife Digital Team 22 February 2012
New car buyers can now buy life insurance IndiaFirst Life has launched Autolife. Life insurance cover up to Rs20 lakh can be purchased at the time of buying a new car. You will need no documentation, medical tests and there will be no waiting period. This initiative is an innovative...

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Moneylife Digital team 22 February 2012
You will know only at the end LIC (Life Insurance Corporation of India) has launched Jeevan Ankur, a traditional child plan offering single or regular premium option. Traditional child plans are popular due to secured returns, even if they are low. Jeevan Ankur offers inbuilt income...

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IRDA has not approved any web aggregator license till now; web aggregators have stopped giving product comparison for the last 21 days. Business outlook remains grim due to drastic cutback of the price a customer lead can be sold. Will aggregators adapt or perish?  The Insurance Regulatory and...

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While the concept is appealing, most of what is covered is also available in a regular critical illness product. The new product is neither inexpensive nor does it offer lifelong renewal Bajaj Allianz Women Critical Illness Plan is touted as the first-of-its-kind to cover women specific...

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There is a new insurance product using the iProtect brand name in the market. ICICI Pru Life has one and now Bharti AXA Life has used the very same product name. The premium is cheapest offered so rar, which means that price war between insurers is still hot. The Bharti product is a good deal...

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Moneylife Digital Team 16 February 2012
The RBI in its quarterly review of monetary policy in mid-January, cut the cash reserve ratio (CRR)—the amount of deposits banks keep with the central bank—by 50 basis points (bps) to 5.50% from 6%. The central bank kept other rates like repo and reverse repo rates unchanged due to high core...

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IRDA has proposed a slew of changes recently. It is mix of good, bad and ugly. What do Moneylife readers have to say? The Insurance Regulatory and Development Authority (IRDA) has made slew of changes including major ones for pension products and web aggregators in the recent past and more...

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IRDA exposure draft on needs-based life insurance sales is a welcome step to reduce mis-selling, but will customers really share all the information especially if it is optional? How will prospect product matrix work for online life insurance? The Insurance Regulatory and Development...

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