PERSONAL FINANCE


Moneylife Digital Team 21 February 2024
The Pension Fund Regulatory and Development Authority (PFRDA) has notified the amendments to the regulations of the National Pension System (NPS) Trust and the Pension Fund to reduce the cost of compliance and enhance the ease of doing business. As per the official statement issued on...

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Moneylife Digital Team 21 February 2024
While upholding orders passed by the Gautam Buddha Nagar district consumer disputes redressal forum and the Uttar Pradesh state consumer disputes redressal commission, the national consumer disputes redressal commission (NCDRC) directed IFFCO-Tokio General Insurance Company Ltd to pay...

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Moneylife Digital Team 20 February 2024
While upholding orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed Oriental Insurance Co Ltd to pay Rs2,73,000 with an interest of 9%pa (per annum) as cost for knee replacement treatment. NCDRC categorically stated that Oriental Insurance failed...

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IANS 16 February 2024
Axis Bank said on Thursday that it has obtained all necessary regulatory approvals in connection with the purchase of shares of Max Life Insurance with regard to the public interest writ petition filed by BJP leader Subramanian Swamy.   A public interest writ petition has been filed...

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IANS 15 February 2024
Enhancing the protection of insurance policyholders, the Insurance Regulatory and Development Authority of India (IRDAI) has proposed to enhance the free look period to 30 days in the case of life and health insurance policies.   Free look period is the period during which a...

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Moneylife Digital Team 14 February 2024
The income-tax (I-T) department is learnt to have prepared an assessment report on how insurers used a string of intermediaries to pay off extra commission—over and above allowed under regulations—to their agents selling insurance policies, says a report. The I-T department estimates the...

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Moneylife Digital Team 14 February 2024
Insurance Regulatory and Development Authority of India (IRDAI) has released a draft regulation for an insurance electronic marketplace (IEM) Bima Sugam, the one-stop solution for all stakeholders, including customers, insurers, intermediaries or insurance intermediaries and insurance...

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IANS 12 February 2024
The central board of trustees of the employees' provident fund organisation (EPFO) has recommended an interest rate of 8.25% on Provident Fund deposits for 2023-24.   At present, the interest rate is 8.15%.   “The move is a step towards fulfilling PM Modi’s guarantee of...

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Sponsored Post 12 February 2024
Achieving sustainable growth in business requires more than just a great product or service. It's not just about having a groundbreaking idea or a loyal customer base; it's also about smartly working through the complexities of business finance. From leveraging cutting-edge tools like the...

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The death of a loved one is a universally painful experience. In India, the confusion around transmission of assets renders the process of claiming one’s inheritance even more painful, especially when the deceased is the bread-winner of a family who has not made a Will or been careful about...

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Moneylife Digital Team 09 February 2024
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has released a draft aimed at regulating retirement homes across the state, aligning with the model guidelines issued by Union ministry of housing and urban affairs (MoHUA) for the development and regulation of retirement homes. This...

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Moneylife Digital Team/ IANS 08 February 2024
Reserve Bank of India (RBI) on Thursday announced that it is mandatory for regulated entities such as non-banking finance companies (NBFCs) to provide key fact statements (KFS) in a simple format to borrowers for all retail and MSME loans.   This would provide critical information...

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IANS 07 February 2024
Insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI) has approved the capital infusion by Axis Bank into Max Life, subject to the approval of the competition watchdog CCI. (competition commission of India).   The pension fund regulatory and development...

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IANS 07 February 2024
The competition commission of India (CCI) has approved the acquisition of 70% stake in Kotak Mahindra General Insurance Company Limited by the Zurich Insurance Company.   The proposed combination involves the acquisition of a majority stake in the target by the acquirer from Kotak...

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IANS 07 February 2024
US banks hold about $2.7 trillion in commercial real-estate loans.   The majority of that, about 80 per cent, according to Goldman Sachs economists, is held by smaller, regional banks -- the ones that the US government hasn’t classified as “too big to fail”, CNN...

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IANS 06 February 2024
India’s retail lending showed moderated growth during the quarter ending September 2023 as financial institutions tightened the supply of credit, especially on consumption-led products like credit cards, consumer durable loans and personal loans.   Credit performance, as measured by...

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Moneylife Digital Team 06 February 2024
In a judgement that would be an eye-opener for health insurance policy buyers, the national consumer disputes redressal commission (NCDRC) rejected a claim due to the wrong date of birth and suppressing of pre-existing ailments while buying the health insurance policy.   In an order...

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Moneylife Digital Team 02 February 2024
While upholding an order passed by the Punjab state consumer disputes redressal commission, the national consumer disputes redressal commission (NCDRC) directed the Life Insurance Corporation of India (LIC) to pay the balance of Rs99,136 with a 9% interest out of the surrender value of...

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The public information officer (PIO) of the Life Insurance Company (LIC) of Agra, who defended himself by stating that documents regarding its pension & group scheme policy (P&GS) of employees of St Clare's School, Agra were destroyed in a fire, has been directed by the central information...

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The public information officer (PIO) of the Life Insurance Company (LIC) of Agra, who defended himself by stating that documents regarding its pension & group scheme policy (P&GS) of employees of St Clare's School, Agra were destroyed in a fire, has been directed by the central information...

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