PERSONAL FINANCE


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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Moneylife Digital Team 08 February 2012
According to the Bank Employees Union, Dhanalaxmi Bank’s business fell down from Rs22,000 crore but it is being camouflaged through inter-bank deposits and other measures After the resignation of Dhanalaxmi Bank’s chief operating officer and managing director- Amitabh Chaturvedi due to...

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According to experts from banking and IT-Security, banks are not really interested in security unless they forced to. Some even try to threaten experts who show the loopholes in their systems Safety and security for online financial transactions has always remained a cause of worry for all...

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Moneylife Digital Team 08 February 2012
Future Generali Life fined Rs20 lakh IRDA imposed a fine of Rs20 lakh on Future Generali Life for procuring business through unlicensed agents. IRDA said there is a substantive violation where the insurer has permitted various unlicensed individuals to solicit and procure business through...

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Moneylife Digital Team 08 February 2012
Will the premium rise sharply? Apollo Munich has launched Optima Restore, a mediclaim with innovative features. It will give additional sum insured (SI) equal to base SI without additional premium or paper-work, if the base SI is exhausted in the middle of a policy year. The caveat is that...

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Moneylife Digital Team 08 February 2012
Needs to offer decent bonus to help save for child’s education Aegon Religare’s Educare is a traditional child plan platform, offering insurance cover along with savings. Traditional child plans are popular due to secured returns, even if they are low. This is due to the appeal that parents...

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Moneylife Digital Team 06 February 2012
According to sources, the Bank's MD & CEO has resigned due to serious differences with other Board members Dhanalaxmi Bank Ltd's managing director and chief executive, Amitabh Chaturvedi has resigned from the bank. The Bank’s board of directors are meeting today at 4pm and may declare...

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Health insurance claims data shows that as the sum insured increases, so does the average claims size. Co-payments brings partial responsibility of payment and hence scrutiny of bills by the insured. Are co-pays the new weapon to fight excessive hospital charges? Health insurance claims data...

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Moneylife Digital Team 03 February 2012
Government-owned IDBI Bank Ltd has launched India’s first online retail G-Sec portal. The portal provides an opportunity for retail investors to buy and sell government securities (G-Secs). G-Secs are bonds issued by Central and state governments. The portal became operational on 17 January...

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Moneylife Digital team 03 February 2012
If you are an account-holder of HDFC Bank, be prepared to pay Rs50 per quarter for a non-operational account of over a year and Rs25 for depositing cash of over Rs1 lakh. The Bank’s order came into effect from 1st January. Though there is no cash-handling fee for deposits of up to Rs1 lakh in a...

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Moneylife Digital Team 03 February 2012
On 10th January, prime minister Manmohan Singh announced a new Pension and Life Insurance Fund (PLIF) for overseas Indian workers that would allow over five million workers, especially those working in the Gulf states, to save money for the future. PLIF, which was recently cleared by the...

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Moneylife Digital Team 03 February 2012
The State Bank of India (SBI) has cut down the processing fee on home loans above Rs75 lakh to Rs10,000 from Rs20,000, while for loans between Rs30 lakh-Rs75 lakh, the fee has been reduced to Rs6,500 from Rs10,000 earlier, a senior SBI official said. The new fee structure became applicable...

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Moneylife Digital Team 02 February 2012
The new Maruti Suzuki Swift DZire is wider, taller, has a larger wheel base and is yet compact as compared to the existing Swift DZire.  The new Swift DZire is more fuel efficient by almost 7% in petrol and 8% in diesel. Car market leader Maruti Suzuki India Limited, unveiled its much awaited...

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The RBI has allowed other private sector banks to handle government business but a few more steps are required to ensure a level playing field for all players for healthy growth of banking in India The Reserve Bank of India (RBI) has just issued a notification whereby private sector banks are...

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Health insurance claims data suggests average cashless amount of Rs45,000 compared to average reimbursement claim amount of Rs25,000. The insurance company trend of going for in-house claims processing is to help in better bargaining with hospitals for procedure rates Insurance companies are...

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Moneylife Digital Team 27 January 2012
If you have already retired or are approaching retirement, what should you do to make yourself safe & smart regarding healthcare, regular income, living space, insurance and financial products? A Moneylife Special Report Retirement is a paradoxical word. It could conjure a vision of...

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Kamalji Sahay, managing director and chief executive officer, Star Union Dai-ichi (SUD) Life ML: Will having a pension annuity product necessarily from the same insurer who serviced the accumulation phase be restrictive? KS: It is not restrictive. It is good for customers if the same company...

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