PERSONAL FINANCE


Alekh Angre 29 September 2011
According to the revised model for education loan, the repayment period is now extended up to 15 years depending on the loan amount Indian Banks' Association (IBA) in its revised circular for education loan has recommended extension for the repayment period depending on the loan amount...

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Moneylife Digital Team 29 September 2011
XUV500 price range for the W6 model starts at Rs10.80 lakh in ex-showroom Delhi Mahindra & Mahindra Ltd (M&M), a part of the US $12.5 billion Mahindra Group, today unveiled Mahindra XUV500 in Pune, Maharashtra. Designed and developed in-house by Mahindra, the XUV500 is Mahindra's first global...

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IRDA has taken a huge step forward for the insured with its clear-cut definition of a ‘policy break-in’. The insured have tremendous opportunity to request insurers to consider policy continuity even if it was considered as a break-in as per a mediclaim policy’s terms of agreement The...

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In 2009, an IRDA Committee had recommended opening up bancassurance to two insurers. But IRDA chairman J Hari Narayan does not seem convinced. IRDA may also allow brokers to offer consultancy services, even for insurance products that they have not sold themselves The Insurance Regulatory...

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Moneylife Digital Team 22 September 2011
Sunny with a 16.95 km per litre of fuel economy will be available to customers across the country without any waiting period for delivery Japanese automobile manufacturer Nissan's Indian subsidiary has launched its sedan car Sunny the 1.5-litre petrol engine car is priced at Rs5.78 lakh for...

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The chief executive officer of Max Bupa Health Insurance, Dr Damien Marmion, spoke on developments in the industry ML: Apollo Munich is coming out with a product that will allow no upper age for entry. Wouldn’t the entry premium be exorbitant at that age? DM: We too don’t have entry age...

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Moneylife Digital Team 22 September 2011
Mediclaim for Seniors Apollo Munich Health Insurance has filed for a health insurance policy with no upper age for entry. Existing policies from Apollo Munich allow life-long renewal as long as the customer qualifies with maximum entry age of 65 years. Max Bupa Health Insurance also allows no...

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Moneylife Digital Team 22 September 2011
Even if the Act is passed, the NPS is full of holes The Pension Fund Regulatory and Development Authority (PFRDA) Bill is about to be converted into an Act. On 30 August 2011, the Standing Committee on Finance, headed by Yashwant Sinha, former finance minister, presented the Bill to the Lok...

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Moneylife Digital Team 22 September 2011
Why do customers let life policies lapse? The lapsing of term insurance products tends to be the highest. One reason for this is policyholders’ feeling that they no longer need death protection. Over 20% of life insurance policies lapse after payment of the first year of premium. A recent...

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The Insurance Regulatory and Development Authority seems to have woken up to the ill effects of highest NAV product mis-selling. J Hari Narayan has hinted that a few traditional products also could be axed. The regulator is in favour of same insurer for accumulation and annuity phase of pension...

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Moneylife Digital Team 19 September 2011
Reliance and Siemens will combine to leverage the 4G network for the low latency and assured quality of service required for video and security applications Reliance Security Solutions Ltd, a subsidiary of Reliance Industries Ltd, and Siemens Ltd have signed a Memorandum of Understanding to...

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Amitabh Thakur 19 September 2011
The case of Arvind Kejriwal, RTI and anti-corruption campaigner, about his not being relieved from government service even five years after he quit, highlights the need to hasten the process of relieving employees after they have resigned Recently, when Arvind Kejriwal was given a notice...

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Moneylife Digital Team 16 September 2011
Indiabulls Housing Finance head explains that increasing the EMI is better than extending the loan tenor The corporate sector had hoped otherwise, but the Reserve Bank of India (RBI) today hiked key interest rates by a further 25 basis points. This will likely make home and automobile...

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Lifelong renewal on mediclaim is offered by mono-line insurers like Max Bupa and Apollo Munich. Government insurers also offer it on specific products. Now the other private insurers will soon offer this option too, to remain competitive Bajaj Allianz, Bharti AXA and Future Generali will...

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IRDA has put out mediclaim portability guidelines that could be tough on insurance companies with time limits for handling the portability proposal; policyholders may also lose benefits The Insurance Regulatory and Development Authority (IRDA) has finally issued new guidelines for the 1...

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Bajaj Allianz General Insurance is collecting detailed customer information which together with the claims experience will help it to arrive at the right price for health and motor insurance TA Ramalingam, head-underwriting, Bajaj Allianz General Insurance, says motor insurance has better...

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Moneylife Digital Team 12 September 2011
Account holders complain banks do not give TDS certificates on time, tax deducted not credited to tax credit account  The Reserve Bank of India recently announced that banks must issue duly completed tax deduction at source (TDS) certificates for account holders and dispatch it to their...

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Moneylife Digital Team 09 September 2011
New CLS 350 remains as spectacular as its predecessors, combining luminous design with top notch exclusivity and sportiness Mercedes-Benz India has unveiled the all New CLS 350 BE. The company said that the New CLS 350 remains as spectacular as its predecessors, combining luminous design with...

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Moneylife Digital Team 08 September 2011
Money invested under NPS is locked in till the age of 60 under the NPS Tier-I account. Will this change now? The Standing Committee suggests some flexibility, but there is a positive and a negative side to it The New Pension System (NPS) has not worked very well. While for central...

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Moneylife Digital Team 08 September 2011
Insurance on deposits and prompt delivery of TDS certificates are two issues the committee has overlooked Several cooperative banks are saddled with bad debt. These banks usually have a lot of political influence. Poor supervision and low accountability has led to a series of failures among...

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