PERSONAL FINANCE


Moneylife Digital Team 27 December 2024
The Reserve Bank of India (RBI) has raised concerns about the growing risks associated with unsecured lending and private credit markets, urging heightened vigilance amidst a cooling credit growth environment. In its annual report on Trends and Progress of Banking in India 2023-24, RBI...

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Moneylife Digital Team 26 December 2024
The central consumer protection authority (CCPA) has imposed penalties totalling Rs15 lakh on three coaching institutes for making misleading advertisements about their success rates in the Union Public Service Commission (UPSC) civil services examinations in 2022 and 2023.   Vajirao & Reddy...

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Moneylife Digital Team 20 December 2024
State-run Life Insurance Corporation of India Ltd (LIC) has over 1.62mn (million) claims that are not claimed or are outstanding with a value of Rs3,726.80 crore during the past five years since FY19-20, the government told the Lok Sabha.    In a written reply, Pankaj Chaudhary, minister of...

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Moneylife Digital Team 16 December 2024
Holding the Life Insurance Corporation of India (LIC) responsible for the delay in sending monthly premium mandated through the electronic clearing system (ECS) and calculating the grace period from the premium due date, the national consumer disputes redressal commission (NCDRC) directed LIC...

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India’s credit recovery legislations have been unmitigated failures. Until 1985, for credit recovery from non-performing assets (NPAs), the courts of law would take eons to dispose the recovery petitions. The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), which was the first...

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Moneylife Digital Team 13 December 2024
The Union ministry of labour (MoL) is enhancing its information technology (IT) infrastructure to improve service delivery. The ministry is also streamlining provident fund (PF) claim settlement and, from next year, the PF-holder or claimant will be able to access or withdraw claims from...

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Shrirang V Samant 06 December 2024
Disruption is a favourite word for management consultants and there are various opinions about the efficacy of disruptive changes in a business. The trigger for a planned disruption is normally the performance challenges a business or even an industry faces. Regulatory disruptions fall into a...

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Moneylife Digital Team 06 December 2024
Holding Tata AIA Life Insurance Co Ltd responsible for mis-selling policies with 10-year premium liability as a one-time premium to a low-income family, the national consumer disputes redressal commission (NCDRC) directed the insurer to refund the premium of Rs2.47 lakh with an interest of 9%pa...

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Moneylife Digital Team 05 December 2024
Brian Thompson, the chief executive officer (CEO) of UnitedHealthcare, the world's largest healthcare company by revenue, was shot and killed in a brazen and targeted attack outside a Manhattan hotel where the health insurer was holding its investor conference, police says setting off a massive...

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Moneylife Digital Team 29 November 2024
Holding State Bank of India (SBI) responsible for not personally informing the borrower about withdrawing free personal accident insurance cover, the national consumer disputes redressal commission (NCDRC) directed SBI to waive the home loan outstanding of Rs14.30 lakh and pay Rs75,000 as...

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Asset reconstruction companies (ARCs) were designed to clean up the banking sector by resolving non-performing assets (NPAs). Consequently, people outside the banking, finance and investment world had nothing to do with them nor had they heard much about them. A spate of defaults among realty...

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There is a plethora of court decisions interpreting various aspects of the Hindu Succession Act, 1956 (HSA) and with many contradictory findings.   None is more vexatious than the interpretation of the implications of the amendments introduced in 2005 that provided equal status to daughters...

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There is a plethora of court decisions interpreting various aspects of the Hindu Succession Act, 1956 (HSA) and with many contradictory findings.   None is more vexatious than the interpretation of the implications of the amendments introduced in 2005 that provided equal status to daughters...

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Moneylife Digital Team 18 November 2024
Refuting HDFC Standard Life Insurance Company Ltd's contention that the deceased life insured (DLI) failed to disclose pre-existing medical conditions, the national consumer disputes redressal commission (NCDRC) ruled that the DLI died due to head injury in a road accident which is independent...

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Debayan Roy (Bar  and   Bench) 18 November 2024
The Supreme Court on Monday sought a response from the Union government regarding the non-appointment of chairpersons in 11 Debt Recovery Tribunals (DRTs) across the country.   A Bench of Chief Justice of India (CJI) Sanjiv Khanna and Justice PV Sanjay Kumar issued notice on a plea...

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Moneylife Digital Team 14 November 2024
The central consumer protection authority (CCPA) has issued guidelines that all coaching institutes must disclose relevant information regarding their students and courses to prevent parents and candidates from being misled. Nidhi Khare, chief commissioner of CCPA and secretary in the...

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Sahyaja MS (Bar  and   Bench) 12 November 2024
The Bombay High Court on Monday held that marks obtained by candidates in recruitment process to public posts can be disclosed under the Right to Information Act, 2005 (RTI Act) and disclosure of the same will not amount to violation of candidates' privacy.   A Division Bench of Justices MS...

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Moneylife Digital Team 08 November 2024
Highlighting a lack of clarity in terms and conditions in the case of surrendered insurance policies, the national consumer disputes redressal commission (NCDRC) directed SBI Life Insurance Co Ltd to pay Rs88,734, the premium paid by the insurer with an interest of 7%pa (per annum).   In an

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Information commissioner (IC) Vinod Tiwari recently directed the central public information officer (CPIO) of United India Insurance Company Ltd (UIC) to provide a photograph of a vehicle over 12 years old, which is claimed to have been involved in an accident and without corrosion, as this was...

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Moneylife Digital Team 23 October 2024
Regulatory streamlining of lending by the Reserve Bank of India (RBI) will impact gold loan disbursements during the transition phase and curb growth in the business, says a research note. Recently, RBI flagged certain irregular practices in the loan against gold jewellery space and asked...

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