PERSONAL FINANCE


Moneylife Digital Team 11 June 2012
NRIs can visit any SBI branch in the Middle East to open accounts for repatriable and non-repatriable investments to commence investing in Indian stock market Mumbai: Brokerage firm Geojit BNP Paribas Financial Services signed an agreement with State Bank of India to offer portfolio...

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Moneylife Digital Team 11 June 2012
While IRDA rules mandate that the policy document is required to be sent to the policyholder within two months there was a delay of more five months, which prompted the consumer forum to penalise the insurer   A Delhi consumer forum has held Apollo Munich Insurance Company guilty of...

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Shalini Amarnani 08 June 2012
What happens to what you leave behind depends on how you leave them behind. Planning your legacy can be a complex affair. Shalini Amarnani tells you all that you need to know about Wills, nominations, trusts and the rest of succession planning Isn’t it the eternal complaint of all...

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MDT/PTI 07 June 2012
The decision to defer the controversial bill assumes significance as the UPA government would not like to ruffle the feathers of Trinamool Congress ahead of the Presidential elections   New Delhi: With Trinamool Congress, the key alley in the united progressive alliance (UPA) coalition...

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Anil Agashe 07 June 2012
My wife has an auto loan with HDFC Bank. We decided to part pay the loan. I called my personal banker to ask him the minimum amount I need to pay. He told me the loan department has not yet opened for work as yet and that he would let me know in one hour! This is core banking for you. He...

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MDT/PTI 07 June 2012
Removal of the charges or penalty will lead to reduction in the discrimination between existing and new borrowers and competition among banks will result in finer pricing of the floating rate home loans   Mumbai: In a relief to number of borrowers, the Reserve Bank of India (RBI) has...

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MDT/PTI 07 June 2012
SBI's interest rate on 7-179 days fixed deposit would come down to 7% from the existing 7.25%.   New Delhi: Ahead of the Reserve Bank of India (RBI)'s mid-quarter review of the monetary policy later this month, country's largest lender State Bank of India (SBI) on Thursday slashed fixed...

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Anil Agashe 05 June 2012
This is a story of HDFC Bank. Other banks are not any better My wife has an auto loan with HDFC Bank. We decided to part pay the loan. I called my personal banker to ask him the minimum amount I need to pay. He told me the loan department has not yet opened for work as yet and that he...

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KN Murali, head of motor insurance, Bharti AXA General Insurance tells Raj Pradhan   ML: Third-party premium (TP) has not been raised enough to cover the losses. Will it put pressure on ‘own damage’ (OD) premium? KNM: We do not see any reason to push up the price on OD. For...

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Moneylife Digital Team 05 June 2012
IRDA has floated a new website www.policyholder.gov.in to educate and protect you. It will familiarise you with the knowledge required to buy insurance, make a claim, lodge consumer complaints, etc. Also, you will get to know the different initiatives, already in place, and in pipeline, to...

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IRDA has penalised Shriram Life for a few violations and did not press charges for numerous others. The insurer was making payment of referral fees to Shriram Chits, one of its group companies. Referral arrangement with a non-banking entity is a violation and, hence, a penalty of Rs11 lakh...

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Single-premium insurance products were under the scanner of Insurance Regulatory and Development Authority (IRDA) as being risky. IRDA has relented after life insurance companies convinced IRDA that single-premium business is not disproportionate to the overall business and that there is a...

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Cora Currier (ProPublica) 05 June 2012
A suit reveals how Bank of America knew about big losses at Merrill Lynch before the companies merged but didn't tell shareholders When Bank of America announced it was buying Merrill Lynch in September 2008, bank execs told their shareholders that the merger might hurt earnings a touch....

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Distinguished economist and former RBI governor SS Tarapore calls for implementation of guidelines so that families do not suffer due to onerous bank procedures Economist SS Tarapore, a distinguished economist and a former deputy governor of the Reserve Bank of India (RBI), in his column...

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G Venkatesh 04 June 2012
Dissatisfied clients of placement consultants turning to this new form of recruitment Ashish Kelkar who worked as a business development manager in a well-known MNC (multinational) security firm in Bengaluru smirks at the treatment meted out to him by placement firms. Ramarathnam P, who...

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IRDA has come up with momentous regulations which will change the health insurance industry workings if the draft is implemented without watering it down. TPAs' role will get marginalized and hence they may try to scuttle the implementation in its current form Insurance Regulatory and...

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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 The Insurance Regulatory and Development Authority (IRDA) has imposed a...

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Insurance Regulatory and Development Authority (IRDA) chairman, J Hari Narayan, spoke on a wide variety of issues at a packed Moneylife Foundation event on 16 May 2012. Excerpts of the interaction by Raj Pradhan   On Health Insurance Age for Entry and Exit: “Existing mediclaim...

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Moneylife Digital Team 29 May 2012
Residents of Financial Action Task Force member countries, Gulf Cooperation Council and European Commission will also be considered as qualified foreign investors   New Delhi: In order to attract foreign funds, the Indian government on Tuesday allowed individual overseas investors also...

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Moneylife Digital Team 28 May 2012
Any person having an account with Ahli United Bank would be able to wire money to a bank account holder in India using the Internet banking platform   Mumbai: India's third largest private sector lender Axis Bank on Monday said it partnered with Bahrain's Ahli United Bank for inward...

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